4 Reasons why you should join an NFT collectible project ✅
Last week, I joined my first NFT collectible project. I had collected NFTs before, but this was the first time I got into one of the generative avatar types that have been trending...
Last week, I joined my first NFT collectible project. I had collected NFTs before, but this was the first time I got into one of the generative avatar types that have been trending over the past months. The collection I am now part of is called “Fame Lady Squad.” I had a blast, learned many new things, and changed my perspective. In this article, I share my experience, and I tell you four reasons why I think you should join one.
First of all, If you aren’t familiar with digital collectible projects, here is how they work. Usually, a team of two to five people (primarily developers and artists) designs a theme. A theme could be an animal like an ape, a cat, or, like the one I joined, a lady. In addition, they design traits or attributes. For example, a trait could be different skin colors, eyes shapes, or accessories like rings or tattoos. Depending on the project, there could be tens to hundreds of other traits. Then, they take advantage of generative algorithms, which smartly combine those traits to produce a massive amount of avatars. As the combinations are random, it is possible to come up with items rarer than others, affecting the pricing of such objects. Anyone could’ve minted an object for around 0.02 Eth ($40) + gas if you were fast enough to do it before they sold out. 🙃
The Fame Ladies Squad project had a particular characteristic: all the characters are females, and there are only 8888 different ladies. I had a blast participating in the project’s launch as a collector and spectator. Here are the four reasons this project taught me about NFT collectibles and why they are exciting.
1. Be part of a crypto-centric community
All these projects have a community chat hosted in Discord open for everyone. If you are the owner of a lady, you get a special badge. There are currently 2500 individual wallets holding a lady. In general, everyone in this community supports each other because they want to succeed. On my first week, I noticed an excellent vibe where the participants were trying to make friends, meet new people with similar interests, learn about other projects, and support newcomers.
I asked the other members why they liked this project, and I immediately got many answers. This one stood out.
Art is super clean, all of the traits are aesthetically appealing, first all female avatars run by an all female team, a great cause with the Care charitable donation… but my favorite thing was that it caught my daughter’s attention and allowed me to explain NFTs to her and get her own Fame Lady that I can’t wait to transfer to her when she gets her own ETH wallet.
Message by the user Reaper on Discord.
2. It is a future investment
Initially, they sold for 0.02 Eth ($38), while the average price moves from 0.26 to 0.32 Eth ($494 to $607). The highest sold lady up to date was 9.99 Eth (~ $20000), and many members are very optimistic about each lady reaching 1 Eth (~$2000). Of course, there is a lot of speculation, and the market can go up or down for different reasons. From an economic perspective, it feels more like a gamble.
The demand of the specific NFT drives prices. That’s where the rarity and the particular traits of each object make a difference. Rarity.tools is a website that showcases a rarity ranking for the most popular NFT collections.
3. You can help a special cause
The fame ladies squad has already donated $20k to avoid violence against women. The project also represents the first female-centric avatar collection, promoting and bringing more women into the crypto space.
I love ladies because it is representation that was needed of women made by women. Also as a survivor of domestic abuse the project donating to that cause brings me hope that more and more projects will support social change and help uplift. Art - avatars included - if applied like this and other projects can help change the world.
Message by the user Empress on Discord.
Finding a project you feel connected to is the tricky part. In your mind, it needs to make sense. Don’t worry too much if you can’t find it meaningful at the beginning. Many of these projects were born as jokes and slowly increased, fueled by the community and its members.
4. Be known as a visionary because you were an early adopter
We are still early. Some of the early crypto collections can be the Da Vinci’s, Rembrandt’s, or Michalangelo’s of this new era. For that reason, owning one of the earlier pieces has additional value than its market price. It is a way to show that you were a visionary, an early adopter. You were bright enough to see the crypto hype and didn’t miss the train. Can you imagine flexing that avatar in 10 or 15 years?
In summary, I believe this is the right moment to try out and collect a couple of avatars. I guarantee it will be fun, you will learn a lot, and in addition, if you are lucky and pick the right project, you might make a buck or two. Now, as always, use your money wisely and don’t be a FOMO customer 😉.
PD: Some celebrities and investors are breaking into the NFT space. Gary Vee is one of them. I had the chance to have a “small chat” in Discord over the weekend, which was very exciting. I couldn’t resist tweeting about it.
And yes… Gary is in the Discord server!
If you liked the Fame Lady Squad’s mission and aesthetic you could:
Check out these cool drops from other crypto artists.
Did you like this edition?