Roundtable: Exploring NFTs on MultiversX
Guests:
Top 3 Key Takeaways
1. Diversifying and expanding to different chains is how MultiversX can grow in the future:
All three projects agree that the MultiversX chain is still very new and has much growth potential, specifically when it comes to gaining more traction around the chain’s NFT projects.
Uliana and Zed started the discussion by suggesting community members and founders leave the “MultiversX bubble” and venture into other spaces.
By attending other events (virtual or physical), and looking into other chain’s communities, MultiversX community members can utilize the power of word of mouth to tell other communities about the great projects on MultiversX.
Similarly, Caesar said that one of the ways he learned about MultiversX was through a collaboration with Cow Cow. Though highly affiliated with the crypto space, Caesar mentioned he only knew about MultiversX’s tech stack and native token $EGLD. However, he wasn’t aware of all the interesting NFT projects in the space until the collaboration with Zed.
He encourages more founders to look into cross-chain collaboration opportunities to increase awareness for MultiversX.
2. A project is only as strong as its community:
Another very important and recurring topic of discussion was the importance of community. With comparatively low trading and holder volume, a strong and loyal community is what drive projects to get even better. Uliana mentioned that XOXNO’s community often drives feature decisions and gives great suggestions for new elements that need to be added to the NFT platform. Discord discussion led to product development talks, which then led to a great user experience on the platform, as it was the “user” in the first place that suggested the new feature. Uliana mentions that having an engaging community like that is very valuable for developing the project.
Similarly, Zed and Ceaser say that project utility is determined by the strength and involvement of the community.
3. Education is key to gaining the trust of new community members:
The Twitter Spaces ended with a great discussion on the importance of education and how it will not only allow people to make fewer mistakes and avoid scams but also learn more about the MultiversX ecosystem. For example, with more Web2 companies showing interest in blockchain technology or starting their own NFT projects, there is great potential for more people to be educated about not just MultiversX but crypto via these big-name Web2 institutions.
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