Sui Prospects

In 2021-2022, interest in web 3.0 began to grow very rapidly. Nevertheless, more than 75% of software developers out of 27 million have never worked in the blockchain technology industry. As for developers on Solidity, the situation is even worse here: only 200,000 people are familiar with this programming language. Insufficient demand is caused by the fact that the most popular blockchain at the moment, i.e. Ethereum, has difficulties with scalability. This leads to a negative user experience, and hence to a decrease in interest in web 3.0 as a whole.

Thanks to the new programming language and other advantages of Sui, the platform promises to attract many new developers to web 3.0. In addition, the high speed of transaction processing, as well as their low cost, will attract a huge number of new users from Sui.

But you need to understand that although the new programming language opens up new horizons for decentralized applications, it also has negative consequences for Sui. Most people are conservative and don't want to learn something new, and developers are among them. To attract them to their platform, the Sui team will have to try hard. At a minimum, it will be necessary to issue grants to promising projects. In addition, it is worth taking care of the popularization of Sui among ordinary users, who also do not necessarily want to switch to a new blockchain.

But there are also positive aspects for Sui. Since January 2021, the dominance of Ethereum (TVL) blocked assets in DeFi applications has fallen from 97% to 55%. Such a huge decrease indicates that users are ready to switch to new blockchains. Although, of course, it is worth understanding that Ethereum still has a dominance of more than 50%, so it is still very early to talk about the complete rejection of users from it. Except for TVL in DeFi, the situation is very similar with NFT. Probably everyone has heard about NFT collections on Solan, Binance Smart Chain and other promising blockchains.

Considering the two previous points, Sui, although there is no chance of capturing the entire DeFi and NFT market, but it is quite realistic to tear off a serious share of it. Fast and cheap transactions will help developers of decentralized applications significantly improve their work. Creators of NFT collections may also be interested in Sui, because the blockchain allows you to create developing, dynamic NFTs that can be unlocked, updated and combined depending on the game.

Although the platform has not yet been released to the mainnet, the project team already states that it will have a huge number of applications:

• Primitive DeFi, allowing you to trade online in real time with low latency and small gas charges. This will allow applications on Sui to fully compete with similar ones, only on other blockchains.

• Reward programs: the deployment of mass airdrops, involving millions of people through cheap transactions. Due to this, token developers will be able to significantly increase the decentralization of their asset. In addition, the reward programs will allow you to attract a new audience to the project.

• Challenging games: Expanding the functionality of NFT assets and ensuring their value through a variety of useful functions, not just through scarcity. Although this is not a completely new technology, however, GameFi projects on Sui will be able to claim leading positions in this industry.

• Asset tokenization services that allow you to tokenize everything your heart desires, from documents on the ownership of collectibles to medical and educational records.

• Decentralized social networks: expanding opportunities for creators of media, posts, likes and networks, taking into account privacy and compatibility. This is also not an innovation, but with the proper use of the technologies offered by Sui, developers of decentralized social networks will be able to attract new bloggers as well as ordinary users.

Sui CEO Evan Cheng stated the following regarding the prospects of blockchain technologies and Sui:"The current blockchain infrastructure is limited and simply does not meet the needs of developers or consumers. The existing technology suffers from placement limitations and unsafe programmability models, forcing developers to make concessions in terms of functionality and user experience. We have only outlined what is possible in web 3.0. The lack of a developed infrastructure constrains everything else – from DeFi to games and NFT. With Sui, we will enable builders and collectors to discover a world that was previously inaccessible."

Project team and investments

For many, a good project team and large investments in it will be important. As mentioned above, Mysten Labs is engaged in the development of Sui.

Mysten Labs is a team of leading experts in distributed systems, programming languages and cryptography, whose founders led Meta security research and helped develop the Diem blockchain and the Move programming language. The mission of Mysten Labs is to create a basic infrastructure for Web 3.0.

The investments Mysten Labs has collected are also not small. According to this source, the team raised at least $140 million in Round B, and they plan to raise at least $200 million. Prior to that, Mysten Labs had already raised $36 million during Round A.

What can Sui do now

At the moment, only the Sui devnet is running, but it already has decent functionality. Not so long ago, a wallet was released in the form of a browser extension. You can download it from this link. Now you can request and play with tokens. The team does not promise anything for this, but anything happens, maybe there will be some kind of retro drop in the future.

To get test tokens, you need to go to the project discord. Next, go to the devnet-faucet tab.

To receive tokens, we need to copy our address from the downloaded wallet. The button is shown in the screenshot below.

After we return to discord, we write!faucet and insert your address.

Tokens will be credited to your account quickly.

In addition to requesting tokens, Sui now allows you to change DemoN FT. To do this, go to the gear in the upper right corner.

Click Mint DemoN FT.

That's it, you can see your NFT by going to this tab.

In addition to the wallet, the platform, like most blockchains, also has its own browser.

For node lovers, Sui also has a case. At the moment, you can start a node in devnet, but so far the nodes are not identified in any way. So, most likely, there will be no awards for them. But here it is important to take into account that already in August the developers promise to launch an encouraged testnet Sui. It is possible that the holders of the notes in the dernet will have some kind of priority, but this is unlikely. To put or not to put the node now is up to you. But participation in the encouraged testnet should bring a good profit.

Often, one new technology is not enough. In order for society to accept it, a rebranding is needed. Cryptocurrencies have turned into Web 3, and VR/AR has become a Metaverse. Of course, cryptocurrencies are only part of the Web 3, and VR/AR is part of the Metaverse, but such a representation should contribute to a common understanding of the dynamics by ordinary people.

Today there are several stereotypes about NFT:

• It's a bubble.

• This is a game of rich people.

• They are harmful to the environment.

We believe that the really massive introduction of NFT will happen when we abandon the very word NFT.

Which term will be used instead?

It's hard to say yet, but rebranding will help the positive mood of society.

NFT will no longer be considered a category

This item is directly related to the previous one.

Today, due to the popularity of the phenomenon, the lack of tools and utilities, NFT is considered a separate product. E-commerce has followed a similar path of development over the past decades. Different companies developed separate areas of traditional commerce and electronic commerce. The latter acted as a separate segment of corporate business. A similar vision was formed in relation to digital marketing.

Today, against the background of market consolidation, various business spheres have come to the conclusion that there is no point in distinguishing traditional and e-commerce, digital marketing and conventional. The same processes are waiting for NFT. As new industries are developed and application opportunities expand, NFT will not be considered as a separate category, being considered a feature of the product.

Centralization VS decentralization

The confrontation between the centralized world and decentralization will increase. More radical users suggest decentralizing absolutely everything. The only question is how an ordinary user will react to this.

Is the average user really worried about decentralization? We believe that yes, but only up to a certain point. It often turns out that centralization, despite all its desire to go against the fundamentals of the crypto world, in fact only contributes to mass adoption, which happened in the case of OpenSea or Coinbase.

This contradiction leads to various conflicts, but at the same time opens up new opportunities.

Vertical use options and micro-market

Maybe vertical usage is not such an unobvious issue.

It is quite clear that in the future we will encounter the use of NFT in more vertical ways – both with collectibles and various industries.

We are seeing the emergence of micro-markets, that is, markets of certain brands or systems. In the same way that today there are users who prefer to work with existing trading platforms like Amazon, we will have those who prefer OpenSea and other giant platforms. The same dynamics will be observed among the creators of NFT.

With the advent of new tools, the number of companies and creators will grow, who will prefer to create their own trading platform instead of using the services of others.

This is not an investment

Now NFT is seen as a bubble because it is perceived as an investment. The trader's pursuit of fabulous profits drove the market crazy.

Soon we will see that NFT will significantly expand the boundaries of application and go far beyond the usual investment. In order for this to be realized, the users themselves must "mature".

Not every NFT value should have a high profitability. It is not required to confirm its investment attractiveness. As the scope of application expands, this direction will gradually become more transparent.

Often, when studying social networks, they pay attention only to dry metrics: the number of subscribers, likes, comments. However, it is the filling of social networks with NFT collections that will help you understand which project is in front of you:

• All hype collections would not be in the top of OpenSea without forming their value among the audience.

• Ragpulls would not be able to deceive people without competent content and loud headlines.

• All small projects without well-known names in the team find their audience thanks to the content.

Analysis table

In the table you need to make:

1. The basis of the project: the name, the ecosystem, the indicator of the ATH

2. Links

3. Number of posts: before sale, during sale, after sale

   - Little: 0-2 fasts per day

   - Average: 1-3 fasts per day

   - A lot: more than 3 posts per day

4. The main types of content — I have identified 11 types in total, and later in the article I will tell you about each of them.

5. Analysis of the 3rd redflags:

   - Was there a division of content into before/after the sale?

   - Has the content been running for more than 3 months?

   - Is the content focused on the community?

6. Your final judgments

Content Types

Community Moved

Community Moved content is any active interaction with the audience. Usually these are various events, communication in the comments or Discord servers, contests with fan works, cosplays. This is the main type of content for ZAZ collections with medium and high results.

Building a brand/history

This type of content is aimed at creating a personal brand of the NFT collection and lore. It is inherent in projects with high results.

Utility

Reveals the value of the project and shows it to the audience. There are NFT collections with average and high results.

AMA-Sessions

During AMA sessions, developers in broadcast mode answer subscribers' questions about the project. Questions can also be prepared in advance. Such sessions are conducted by projects with any result.

Fan-Works

Fan-Works include any materials created by fans of the project: art, songs, videos. Usually all projects have it: with low, medium or high results.

Retweets

Retweets are a repost of any information about the project from the audience. Does not apply to Fan-Works. Inherent in projects with any result.

Sneak-Peeks

Sneak-Peeks is a demonstration of the visual part of the NFT before the sale. Used by projects with any result. Almost always, sneakpicks are uploaded only to Discord and create a separate text channel for this #sneak-peek

Memes

Projects often make memes with their collections and even hire individuals for these tasks. There are NFT collections with any result.

Collaborations

Announcements of project collaboration and audience exchange. As a rule, projects with low results abuse this type of content.

Giveaways

Drawings of places in white lists that increase activity. It is inherent in different projects, but most of all this type of content is used by NFT collections with low results.

FCFS-Pressure

Posts with pressure on the urgency factor in the village. These are attempts to sell their NFT as much as possible and as quickly as possible, using the slogans "SOLD OUT SOON!" Most often such content is published in Discord projects with low results.

Analysis of projects by groups

High result (5x+ )

Distinctive features:

• Standardized number of posts at all stages Main content types:

• community-moved, building a brand/history, utility, game-sessions, artworks, retweets

• There is no division of content into before/after the sale

• The content has been maintained for more than 3 months

• Emphasis on utility, interaction with the audience and long-term building of your brand.

Average result (from 2 to 5 x)

Distinctive features:

• The number of posts varies

• Main content types: giveaways, utility, retweets, collaborations, ama-sessions, fan-works

• Often there is no separation of content into before/after the sale

• Most social network projects have been running for only 1-2 months

• There is an incomplete contact with the audience

These are projects with a good visual, a large audience or a strong team of developers who lack either long-term plans or the right communication of their values.

Weak result (less than 2 x)

Distinctive features:

• The number of posts varies and directly depends on the collaborations of the project

• Main content types: FCFS-pressure, giveaways, collaborations, retweets, sneak-peeks, fan-works

• There is always a division of content into before/after the sale Before the sale, the content is maintained for less than 1-2 months

• There is no focus on the community and the message of value

Social networks of such projects are filled with contests and collaborations. When analyzing social networks, you get the feeling that they are trying to deceive you, and for good reason: it is among such NFT collections that cashgrabs are most often found.

Golden Rules

Constant pranks, collaborations and pressure on FCFS — redflag

Such content is used by projects that have nothing else to offer, and they try by any means to attract an audience and get people to buy a collection.

The focus on community, brand building and value disclosure is the basis of successful projects

If the project does not try to convey its values to the audience in any way, it probably does not have these very values.

A source: https://gemjournal.io/training/kak-kupit-nft-s-iksami-analiz-kontenta-nft-kollekcij/ https://teletype.in/@maxycrypto/content_analysis