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Marketing and NFTs
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Whenever there is a lot of competition in a given marketplace you have three obvious choices - race to the bottom on prices, differentiate on features, or convert your brand and hence your product into something aspirational.
Price wars result in products with very low margins, and who voluntarily wants to become a potato farmer?
Competing on features is tough in blockchain, because people are having enough trouble understanding vanilla NFT tokens, let alone more esoteric smart contracts.
And creating an aspirational brand involves an equal measure of luck and supreme marketing skills.
In the NFT world there are an awful lot of projects, and more arrive every day. Most of them are effectively copies of previous ones, right down to the marketing and business development strategy that is used. This puts those projects squarely in the domain of relying on luck.
Is there another way? Listen to the episode for a quick primer on marketing and NFT projects to find out.
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