In the previous article, we announced our fundraising.
In this article, we would like to explain why we launched CocoShop👇
Currently, NFT projects are finding it difficult to generate sales due to the collapse of the culture of royalties, which was once their main source of revenue. In response, we are exploring new use cases and business models for NFTs to reinvigorate the market’s enthusiasm.
Our primary focus for revenue generation will now be on direct sales. While royalties from secondary sales commissions have been our predominant revenue source until now, we no longer view them as essential.
A successful NFT project should be backed by genuine enthusiasts, not just holders waiting for the optimal moment to buy or sell. A spike in royalty revenues often indicates holders divesting from NFTs, which isn’t a sign of a project’s inherent value or appeal. Such transient boosts shouldn’t be celebrated; instead, the focus should be on nurturing a dedicated and authentic community.
NFT projects should prioritize primary distribution and then ensure ongoing value to the holders. That’s the essence of a sustainable business model.
To simplify the process of conducting primary sales for everyone, we will enable the creation of mint sites for NFTs without the need of any coding.
In order to increase sales through primary distribution, utilities and other intrinsic values are necessary. Therefore, we need to expand the use cases of NFT itself. We will continue to devise and implement features on this topic as well.
Please register here for Waitlist👇
If you are interested in this topic, we welcome you to join our team.
We are looking for the following roles.
Front-end engineer (Next.js)
Backend Engineer (NestJS)
UI/UX Designer