Overview - The Problem

The NFT community continues to grow and expand at unprecedented rates and so it’s no surprise that large companies are now turning their attention to the industry and funneling hundreds of millions into research, development, and design for their own brands. While this attention legitimizes the staying power of NFTs it brings into question the staying power of community driven Intellectual Property (IP) as large companies with war chests of cash move in to capitalize on the many opportunities in this space.

In light of these recent developments, we believe that at the end of the decade, the community driven NFT collections that will prevail against the onslaught of corporate money, survive the test of time, and continue to increase in value will be the NFTs that provide the most utility. It won’t be enough for most collections to simply offer membership into a club, voting rights in the community, free whitelist opportunities for future collections, integration into a video game, or many of the other ways that collections are trying to provide utility. Failure to increase utility will be a recipe for most collections to slowly fade away.

We believe the NFT community as a whole requires a bold vision to solve this problem now before many wonderful, brilliant, and heartfelt projects give way to better funded companies and marketing campaigns targeted at stealing the early majority’s (see The Law of Innovation) entry into the NFT space.