Current Problems with the NEAR NFT Landscape

Is this a gap that Antisocialstudios would be willing to fill if:

A) Given the opportunity

AND

B) The support from NF is granted and clear?

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while music and ticketing NFT projects will definitely be a big deal in the future, it is the community-focused PFP (profile picture) projects that garner the most user interest at this current point in time

Out of this entire post, this is what stuck out to me the most. I’d respond with just a few questions/challenges:

  1. The PFP NFT trend is one that is very much driven by speculation. There may be PFP “communities” here and there that offer their holders benefits that go beyond exclusive “alpha” discord channels and access to even more speculative assets in the future, but those seem to me to be few and far between. To what extent do we want to support this trend?

  2. If music/ticketing NFT projects and other similar and practical use cases will definitely be a big deal in the future, isn’t that what we want to invest the bulk of our time and attention towards innovating? If we go this route, aren’t we just playing a different game (the long game), vs just trying to hop on a bandwagon that overemphasizes short-term speculation as a primary driver and that is destined to be short-lived once the more pragmatic use-cases have been proven?

There are many ways to attract short-term liquidity. One of those ways is to invest in trends, since the likelihood of short-term success may be greater if we’re catering to a trend that has generated a lot of buzz. What this approach doesn’t do is guarantee long-term sustainability. It also doesn’t necessarily support innovation, since it’s an approach that is largely reactive and not one that is looking to challenge trends by looking forward to the long-term potential of alternative use-cases.

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This is absolutely true. Have we considered that NFT volume, the majority of which I assume are PFP projects, has simply collapsed across the board, too?

It’s not an excuse, and I do think there’s more that can be done. Namely because the communities which emerge from these PFP NFT projects can, and have, grown to become pillars of the wider community.

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NEAR TVL would benefit greatly from more degen speculation of FT and NFT. I don’t think it’s something NF can stand for, but through an arms length ecosystem fund it could work. Seems there is consensus that funding only helps a little and that a little bit of funding is better than none. I’m in favor of a small grant enabling a lot of excitement.

For the long term play, which is where I see the strength of NEAR, it’s an entirely different game. Sweatcoin style progressive, custodial onboarding is going to bring the billions of users to web3 and make todays TVL concerns look quaint :crossed_fingers::grin: All those users will be showing up to nothing if the existing communty dies out before then.

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I am hugely grateful for this thread - very insightful and constructive. Thank you, to all of you.

What I am reading loud and clear here is, “we need someone (or a group) to help lead the path and take this on”.

@antisocialstudios, are you willing to take this on? Should we get in details on what an ecosystem fund with several functions could look like to address the points raised here?

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Hi all

Well…this is a discussion that has been going on within NEAR for pretty much the whole of the last 18 months of my time in the ecosystem…and probably well before that. (Maybe with the exception of the the January/Feb explosion in interest/transactions)

The “MagNFTify” telegram group set up a year ago was brain-dumping ideas to turbocharge mainstream adoption of NEAR NFT’s on the back of the BAYC summer…and while there were lots of good ideas…both long-term and short-term…nobody was really invested full-time in delivering…which makes the ASAC @antisocialstudios “Y Combinator” style proposal interesting:

https://gov.near.org/t/antisocial-studios-identify-incubate-accelerate/

TENK have been the key NFT innovators on NEAR…and really should be involved too… if it suits them.

Personally…I believe that the opportunity/issue is multi-faceted…which probably suggests a broad spectrum approach is required…and that many things are probably true at the same time…rather than in conflict:

  • NEAR should be focussing on NFT innovation and long-term sustainable programs/solutions that increase adoption of Web3 - ticketing, sweatcoin, mintbase redeemables etc.
  • NEAR should also probably be sensitive to dominant high volume trends…which the PFP/NFT communities have clearly been for the last 12 months . These ‘trends’ may be short term…or they may even be the sustainable long-term future for onboarding the next 1bn…
  • At the same time…NEAR has ground-breaking technology…maybe it should also look to promote/support ground-breaking original culture that epitomises a mature confident blockchain ecosystem

So…yes…how about a dedicated body with overall full-time responsibility for a unified NFT strategy…with divisions underneath it for separate verticals…but as @starpause says in the linked thread above…“The scale of work that goes into running a program along these lines is massive.”

Anyway…all a good discussion :+1:

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Hi @markieke.flament We would also be willing to assist.Actually we are finalising a multi million dollar fund (outside of NEAR) to support future NEAR NFT/GameFi Projects, which will be supported by the team at Few and Far, to help grow the ecosystem, attract the best teams to NEAR and better compete with other chains.

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This is a great thread - just want to add specifically from the GameFi angle… @marieke.flament

we are currently building a gamefi middleware layer for mobile games on Near (Unity based SDK with the Near Wallet embedded in it + other monetisation functionality for game developers like competitions) to mass onboard mobile games to the Near ecosystem via simple SDK.

We picked Near due to the awesome wallet for web2 users, but when you look at other chains - they are very well set up for supporting and mobilising gamefi projects

  1. team of people from gaming - designers, developers, artists who can help with the game itself… as much as the blockchain piece
  2. easy to find central gaming contacts - whether its to discuss grants, game design support, connecting you within the GameFi ecosystem
  3. having a clear vision for where they sit within GameFi - eg focus on AAA games? mass casual games? Mobile? PC?

Having a gaming BD person is not enough unless you have the team behind it to help bring these projects to life - i think of it like mobile games publishing. You have a lot of choice between mobile games publishers to fund your projects, use your tools, the ones you choose is often about the people and add value they will bring in terms of game knowledge.

Keen to help here our really build and grow a clear gaming proposition/product/launchpad - already had some chats at Consensus with the folks at Few and Far how we could team up.

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Thanks, Marieke. We really appreciate the response.
We’re processing all the encouragement and feedback from the community.
We’ve started working on a proposal with key functions defined in detail and would love to share it when it’s ready.

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New and intelligent ideas must be created for the NFTs market, where they provide quick solutions to the many problems that exist in the community.
Establish the mission and clear objectives for which the NTFs were created.

What is solved with this NFTs idea or project, (what solution does it bring to the community)?

Good marketing

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Example,

Ideas on how to solve by means of Nfts

Logistic problems, by means of image recognition of Nfts

Product mobility problems.

People mobility problems

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Hey @zeitwarp

Thanks for sharing these insights. We would also like to share our experience with this,

We were one of the guild coming out from “MagNFTify” to connect the NFT ecosystem. Our success was acknowledged when the Paras Team has appreciated us back in November 2021 by stating that “our presence helped the community to grow and connect”

and just after a month since January’22. The Tenk Team played an important role in bringing the NFT Collection Communities to NEAR, supporting them via Consulting, Marketing and Launching Collections.

  • We have been working in the ecosystem since a year and believe us the team behind the TENK has always empowered the individuals/communities supporting the vision and values of NEAR.

We would love to see TENK Team leading this initiative too.

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Hey Naveen @NearNft
Yep, shouldn’t dismiss your contribution. Your team have been pushing the NEAR NFT narrative across genres for a year now. :+1:

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Hi NEAR fam,

Last week we successfully launched fewfar.com, a new marketplace on NEAR. If you have not checked us out please do so as we would love any early feedback to our beta.

We have been getting some great early reviews from the community which we are very happy about. https://twitter.com/NearGuru_/status/1554214048681558018

We are working closely with the NEAR BD team to win over some very large IP and projects with massive web2 + web3 audiences and the pitch is working well.

We are confident this approach of providing a curated launchpad, supporting the marketing of new projects will attract new NFT audiences into the ecosystem as well as essential tooling to support the projects. With the pitch, we have now brought 10+ new projects to the ecosystem and building on NEAR.

Our NFT Gallery widgets are also gaining traction from large publishers such as Coin Telegraph, to promote NEAR NFT collections to the mass market web3 audiences and increase sales. This type of innovation has not been seen before in the NFT space.

Looking forward to collaborating further with all the NFT Projects here on NEAR plus bringing onboard some ‘chain defining’ IP to jump start the NEAR NFT ecosystem.

If we can help at all or if anyone wishes to collaborate you can reach me at c_heyw00d on Tg.

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Nice intiative,I also agree that most NFT suffer from marketing and community building.
An NFT project can have good vision and tech like most utility NFTs do but without having a strong community, they look ass compared to the pfp community that the community is strong.
If an NFT fund grant was to be passed we’ll need to work the way y combinator works, grants/funds will be provided but also guidance/a boot camp is needed to teach how to community build and market!
Or just directly help them.


I agree with your statement here and the last statement,not only high quality projects should be funded because that’s not what’s makes the NFT system thrive.
For example bsc has quite a number of active addresses and Volume and liquidity too
Why? Because of the degen projects and degen players,the little projects make up all these.
My thoughts

Important post, which covers a good proposal with thoughtful guardrails, but the discussion has spent more time on liquidity mechanics than I think is useful.

IMO we don’t need more supply of NFTs, we need more demand for them. It seems the default way to do this is to try and drum up a bunch of hype and speculation, which is basically what drove the NFT boom before. That relies on bull market energy, spendy whales and hedge funds.

This is a bear market and that was the last cycle. That same toolkit won’t work. There’s little to no intrinsic value in the PFP or collectible markets* so they rely on massive community building to keep up novelty, excitement and prestige plus they’re totally limited to web3 native people and their money.

Let’s be real – if a project doesn’t have a competitive advantage in this kind of community building, it needs to find another way to create demand (eg partnering with big IPs) or it should pivot to something closer to real value creation. They have to make something people actually want somehow.

Ticketing, loyalty, gaming and other utility areas that touch web2 are more interesting targets for this because they’re (theoretically) better at creating reasons for users to stick around and keep the NFTs so they’re less dependent on a fickle niche market, plus they bring in net new users and net new economies into the ecosystem. This is particularly useful on NEAR because it was designed from the start to be better at onboarding normies than any other chain.

The responsibility for success really goes back to the founders of projects – what is your unique competitive advantage? What are your brand partnerships? How have you created exclusivity and hype in the past? If you haven’t, I honestly encourage you to shift gears and focus on solving other problems that tie closer to a real consumer demand. It’s extremely hard to create a net new IP with enough demand to sustain a market so how can you partner with others to piggyback theirs or to solve a “picks and shovels” problem that helps many others unlock that kind of value for themselves instead? Let’s make sure that anything getting funded can answer those questions too.

What’s going to drive this ecosystem isn’t manually helping art creators sell out hypey collections, it’s figuring out how to reach millions of new people or generate millions of dollars of real value using NFTs. That requires solving the upstream onboarding problem to make it seamless for web2 people to start playing and solving the downstream utility problem which creates reasons why they should try to play in the first place.

The next crop of billion-dollar companies that flower in the next bull run are going to come out of solving that class of problems and those are the problems that NEAR is best suited to solve. Let’s devote our time, money and creativity to solving them.

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Hello a quick question :interrobang:
How can we know a legitimate NFT project on Near protocol.
Or can random people just start an NFT project on Near? Is there any certified NFT project.
Cause there’s a new NFT project on Near (near coin flip) and I want to be sure if our money is safe to invest on it or any other NFT project thanks!

Hi Tonyesy,

There is never a sure way to verify if a project is 100% legitimate on any protocol across the NFT space or even DeFi space.

There are steps you can take such as verifying founders tenure and involvement within the space. Verifying if the founders are doxxed to either a 3rd party entity or to the foundation itself. Speaking to the founders and seeing how responsive/open they are about different aspects of the project.

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When will you stop talking and do something.
There is no liquidity for the amazing projects on near to survive, so most if not all of them will be gone when the bulls start to run again.
For the mean time just spend some money on it, for example.

  1. Pay a lot of sol/eth influencers to keep shilling near nft to their audience.
  2. Make a deal with some big companies to launch on near and give garanties and bonuses or something.
  3. Pay top influencers to host combined ama like the shillain villain who invites new projects to the table Weekly, let them invite two near projects a week.

Some very basic ideas but the point is they are doable right now. Another month and near nft is gone.

Also for nft on near the big usp is that you can do everything on phone. The wallet, minting, trading, discord, everything is doable on your phone. Make this a message for marketing. Its the one thing sol/eth do not have (yet)

Stop with focus groups and such and take charge. Get a bag of money, some experts and a doctor who knows cpr and revive it soon. Time is running out.

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