Intro
In our opinion, there are three principal factors that explain why NFT projects may struggle to become self-sustainable:
Community: This is the backbone of any NFT project and rewarding and providing benefits to the community is essential to build a successful project.
Revenue streams: NFT projects are startups and it's critical to develop one or several revenue streams. Relying solely on royalties without a solid business plan is a recipe for failure in most cases.
Legal and regulatory issues: The legality of NFTs is still a matter of debate in many jurisdictions and NFT projects may face regulatory requirements that can hinder their success. It's crucial to ensure compliance with relevant laws and regulations to avoid legal issues that could harm the project.
By addressing these three factors, NFT projects can increase their chances of success and become sustainable in the long term.
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