Abe Ren, Co-founder of NFTSTAR, @XARN_NFTSTARis a well-versed professional in the web3 and gaming industries. He holds a comprehensive knowledge of the worth of non-fungible tokens (NFTs). This makes Abe a key player in the NFT space, where he seeks to blend traditional sports with the sector’s technology through games and social interaction at NFTSTAR. His expertise and ambition continue to propel NFTSTAR’s success in the world of web3.
NFTSTAR is a company at the forefront of the Web3 industry, dedicated to building sports culture through the creation and promotion of sports-themed NFTs. NFTSTAR has established partnerships with a range of sports figures and organizations, including Neymar Jr., Son Heung-Min and Luis Figo. In addition to its focus on sports NFTs, NFTSTAR has also ventured into the GameFi world and launched its Football Manager game, MetaGoal. As a pioneering company in the growing field of sports and NFTs, NFTSTAR is shaping the future of web3 and sports culture.
From an IP Perspective: How to judge the value of NFT?
The value of NFTs can be evaluated from multiple perspectives, but the most effective approach is to consider both the fundamentals and data side of the NFT, as well as its IP (intellectual property) value. This holistic approach allows for a more complete understanding of the NFT's value and better prepares it for the challenges of the market. By examining NFTs through this lens, it is possible to get closer to the essence of their value and make informed decisions about their worth.
Fundamental and technical analysis
Abe has an innovative approach to valuing NFTs. He looks at the characteristics of the token such as team background, IP, and potential audience and integrates both fundamental and data-driven elements in his analysis. This provides a comprehensive assessment of long-term value. Fundamental evaluation requires gathering information regarding team background, track record, art style, and IP. Using LinkedIn for work experience checking will ensure accurate judgment about capabilities and prospects. Cross-referencing activities such as Twitter engagement, DC news coverage, and past prices are essential for authenticity verification. When a project holds strong team history, unique IPs, and distinct styles with impactful audiences, it's likely to have great potential in the long run. Knowing fundamentals and data insights is crucial for all NFT players.
Cultural, IP-based NFTs will show long-term value
Cultural and IP-related NFTs are believed to have good long-term potential and may be worth considering in the current bear market. These types of NFTs are naturally suitable for representing culture and are likely to be chosen by major players in the Web 2 realm in the development of Web 3. They also have a wide base of audience and are expected to perform well over the long term compared to other NFTs without a background. In a bear market, holding IP-related NFTs may be a safer option as long as the underlying IP is still being developed.
Focusing on Platform-type NFT
Platform-type NFTs are ideal for bear markets, being more resilient and having greater potential. They come with more utilities, resources, and publicly available data that can increase the value of the NFT. Returns can be expected short and mid-to-long term as they play an essential role in the Web3 industry, such as industry certificates and tickets of entry. Established and native companies will use them to gain an edge which increases their value. Investing in platform-type NFTs is investing in the entire Web3 industry. Therefore, the value of these NFTs will rise with the development of the industry.
The idea is to identify the right platform-type NFTs early and then focus on their value long-term. Moreover, platform-type NFTs are deeply beneficial for users as well. As the market matures, these NFTs will offer more features, functions, and data that can be used by all kinds of business entities and individuals
NFT’s Development: Next Bull Market Focus
The NFT industry is currently experiencing a bear market, but a future bull market may already be on the horizon. During the bear market of the overall cryptocurrency industry, NFTs have demonstrated strong resilience compared to other digital assets that have lost over half their value. Abe believes that the next bull market in the NFT industry will begin soon, and is likely to originate in the Asia-Pacific region. This region has the potential to attract more traditional and Web2 resources to enter the Web3 field, thanks to supportive policies for Web3. This increase in productivity could help to bring momentum back to the bull market and drive the global Web3 industry into an upward cycle.
As a practitioner in the Web3 industry, it is important to stay informed about new policies and economic trends. Both the Web3 industry and traditional industries are highly impacted by policy changes and can be mutually exclusive. Favorable policies can activate resources and increase productivity, so it is worth paying attention to whether excellent projects, companies, platforms, etc., enter the market during these times.
What are the focus projects of the next bull market?
According to Abe, the next bull market should focus on the entry of big brands and companies. This is because these brands and companies have access to the abundant resources of Web2, which gives them an advantage in the new market.
Big brand projects have an advantage in that they can integrate and improve upon existing resources, allowing them to gain an edge at the start. Mature platforms and companies are more sensitive to marketing and compliance needs, giving them a first-mover advantage.
It is important to keep an eye on new big brands entering the market. Not only will this anticipate the arrival of the bull market, but you can also get good returns by participating in these projects at an early stage. As an NFT player, the best way to steadily achieve the returns you deserve is to stay up-to-date on macro trends and identify leading companies entering web3 from regions with a booming economy.
The future of NFT: more than just a metaverse
NFTs are entering the future with a wide range of potential applications. From a certificate or ticket of entry to a form of cultural expression, these tokens have created new pathways of communication and opportunity within their respective industries. These brave innovators, known as industry builders, are the spearheads in creating what will be the future of NFTs.
NFTSTAR has recently released Neymar Jr.'s authorized NFT on their sports Web3 platform during the World Cup. This one as well as previous NFTs of Son Heung-Min and Luis Figo was the first to combine player IP with NFTs.
When Neymar Jr.'s NFT was released, a new model of unlimited supply for a limited time was adopted in order to allow more sports fans to participate in minting an NFT without having to rush. By doing this, NFTSATAR hopes to increase awareness of its platform and grow its industry. Their goal is not only to provide entertainment for traditional sports fans but also to attract people from different cultural backgrounds and facilitate communication and discovery of the charm of sports together.
For the full story, visit Here.
Source: b4fomo
Photo by Choong Deng Xiang on Unsplash
