Listen up, fellow NFT enthusiasts. We're facing some tough truths in the on-chain art collectibles market. The PFPs may be crashing, and the hype surrounding them might be dwindling. But fear not, for I bring you a glimmer of hope. Your NFTs can rise above the noise and become something truly remarkable. Not today, not tomorrow, but one day, they can attain the status of blue chips. Here's how.
Let's start with the bad news. Right now, your NFTs are not blue chips. They don't automatically represent cultural value, and your community is not yet timeless. But guess what? They have the potential to become all those things. It won't be an overnight transformation, but with dedication and a clear vision, you can pave the way for greatness.
Now, let's talk about what it takes to build a strong community. It's not about lavish parties in Miami nightclubs or expensive festivals. It's not about flashy magazine covers. True communities are forged in the trenches, where the battles are fought and the foundations are laid.
Many of the so-called JPEG communities out there have never experienced true adversity. Even in the midst of recent challenges, selling an Azuki can still cover six months' worth of rent. But is that truly a testament to the strength of a community? I think not.
Now, let me tell you about a community that I admire: CryptoPunks. It's not because of their high floor prices; it's because they are a real community that was forged in the trenches. In their early years from 2017 to 2019, owning a CryptoPunk wasn't about flaunting wealth. It wasn't a flex; it was often seen as cringe. These punks changed hands for modest prices, ranging from $100 to $300.
During that same time, the price of ETH was plummeting, Ethereum was ridiculed in the crypto industry, and the whole sector was the laughing stock of tech and finance. Wearing a CryptoPunk wasn't a status symbol; it was a battle cry. It symbolized a steadfast belief in Ethereum's potential, even when everyone else had given up. The few brave founders, builders, developers, creators, and investors who wore their punks with pride were on a mission.
Years later, when big money entered the NFT space, they sought after punks. Why? Because that community was forged in the trenches. They had built something meaningful, enduring, and culturally relevant.
Now, let's be clear. I appreciate collections like Azuki and others, but they were not forged in the trenches. Minting an NFT for a high price does not automatically grant it cultural value the very next day. Real value is not created in an instant; it's cultivated over time, in the depths of despair, through relentless effort and unwavering dedication.
Not unlike Art Blocks, true community is defined by its pursuit of a mission, even in the face of constant failures. It's about striving for a greater goal, not just dumping bags on unsuspecting newcomers. Does your NFT collection have a mission to fail at? Are you willing to weather the storms and push through the trenches?
So, my friends, let's embrace the truth. Your NFT is not a blue chip today. But it can become one. It will require perseverance, passion, and a steadfast commitment to your mission. Remember, the real journey happens in the trenches. Let's forge a community that withstands the test of time and leaves a lasting cultural impact. Together, we can create something truly remarkable.