5 Founders Still Thriving in the Bear Market | 20/03/23
Navigating through a bear market can be challenging for any business, including NFT projects. However, there are some steps that NFT projects can take to increase their chances of success during a bear market:
Focus on quality: In a bear market, buyers are likely to be more cautious with their spending, so it’s crucial to create high-quality NFTs that offer value to collectors. This means focusing on creating unique and innovative NFTs that stand out from the crowd.
Engage with the community: Building a strong community is essential for the success of any NFT project. Engaging with your audience through social media, Discord, or other channels can help you stay connected with your fans and understand their needs and preferences.
Experiment with new formats: While the NFT market is still in its early stages, there are many opportunities to explore new formats and experiment with new ideas. For example, you could try creating NFTs that offer additional benefits or functionality beyond just being a digital asset.
Be transparent: In a bear market, buyers are likely to be more cautious, so it’s crucial to be transparent and upfront about the value proposition of your NFTs. This means providing clear information on the rarity, uniqueness, and utility of your NFTs.
Focus on long-term growth: In a bear market, it’s easy to get caught up in short-term fluctuations in price and demand. However, it’s important to focus on long-term growth and building a sustainable business model that can thrive in any market condition.
Here are five NFT projects that are still thriving in the bear market…
- Alexis Andre
Alexis Andre, most notably known for his friendship bracelets collection has garnered a whopping 16,976 ETH total volume on OpenSea
- Sappy Seals
With a total trading volume of 25,605ETH and a 0.89ETH floor price this project has successfully traversed the bear market.
- Yuga Labs
Powered by ApeCoin, this juggernaut of a company is behind names such as BAYC, MAYC, Otherside . They are known for creating the world’s most valuable profile picture (PFP) NFT collection, through its Bored Ape universe.
This limited 1,200 piece collection is community curated, and it’s floor price is currently at a huge 2.9999 ETH on OpenSea. Artist Memo Angeles and Creative Director Mikael Tyrsen have certainly cracked the tough exterior of the bear market
This 8888 piece collection consists of unique 3D characters that are posed to defend Web3 from the corporate overlord, Metazuckbot. They are doing well fighting their own coroner with a 18,864 ETH total volume on opensea
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