What makes an NFT project fail to sell out?

Looking at all the various projects I have purchased into I see some skyrocket, some just go down like a sinking ship.

What factors contribute towards a nft not selling out after launch ?

  • similarity in design

    • people like to stand out. Having designs that are very similar or cannot be differentiated often dont do good in sales. Whats unique in the projects that do then?

  • lack of utility

  • lack of identity

    • currently nft projects are mainly used as identity. So using images that people are appalled by or does not allow them to stand out often prevents people from buying in.

Why do people buy NFTs?

Lets explore the reasons why people even care or buy into NFTs. Can start with why I buy:

  • Economic incentive - NFTs often act as a multiplier for the amount invested into it. During Bull markets this allows people to multiply their income almost instantly.

    • bull market cause thats when people are ready to buy at higher prices.

  • Identity

  • connection with the artist

  • ownership

  • taste