Why is it important that brands are still building NFTs during the bear market?
Which brands are sponsoring ETH Denver and what does it mean for NFTs?https://www.ethdenver.com/
It is important for brands to continue building NFTs even during a bear market for several reasons:
NFTs are still a relatively new and rapidly evolving technology, and brands that invest in them early will have a first-mover advantage when the market rebounds. By building NFTs and experimenting with them during the bear market, brands can gain valuable experience and insights that will give them an edge over competitors who wait until the market recovers.
Building NFTs during a bear market demonstrates a long-term commitment to the technology and to the communities that have emerged around it. This can help to build trust and loyalty among early adopters and enthusiasts, who are likely to remain involved in the space even when the market is down.
NFTs offer a unique opportunity for brands to connect with audiences in new and innovative ways. By creating NFTs that reflect their brand values and identity, companies can engage with consumers on a deeper level and create a sense of community and shared ownership.
Finally, the bear market may actually present an opportunity for brands to acquire NFTs at a lower cost. By buying NFTs during a market downturn, companies can potentially acquire valuable digital assets at a discount, which could provide a significant return on investment in the future when the market recovers.
7 Reason why brands may choose to build
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