In an era of competing NFT marketplaces, NFT royalties have fallen by the wayside.
Optional royalties were first popularized by Magic Eden, a dominant Solana NFT marketplace, after upstarts like Hadeswap quickly began capturing market share by employing zero-royalty models. Popular marketplaces LooksRare and Blur soon followed suit by making royalties an opt-in functionality for holders, with Blur enforcing royalties for creators only if other marketplaces (i.e., OpenSea) were blocked.
In an era of competing NFT marketplaces, NFT royalties have fallen by the wayside.
The golden rule of marketing is to understand your audience, and this is especially true for NFT projects. While there’s no marketing or community-building playbook for an NFT project, the role of data analytics in driving informed business decisions remains the same between Web2 and Web3.
Here are 3 different reasons why data analytics are necessary to stay competitive in the rapidly evolving NFT landscape.
Web3’s rise has revolutionized multiple industries, from finance and gaming to art and beyond. Thanks to its decentralized, transparent nature, Web3 offers unprecedented opportunities for developers, entrepreneurs, users, and innovators alike to join an inclusive digital ecosystem; gaming in particular, has found new pathways thanks to Web3. However, to harness its full potential and… Continue reading Web3 Gaming Analytics: Cracking the Code
