Like with any other new shiny thing it's a lot of hype with the NFTs. They are the coolest kid on the block right now, here to stay for some time. There is a lot of exploration in this space, many interesting projects, and if you spend a few hours you get to discover a widely active community striving to build better and profit from the opportunity at hand. But you'll also come across people who try to trick others and profit from projects with a fancy story, many exaggerated promises, and no real future.
Because it's such a new thing with no obvious standards and no effective oversight, a few bad apples pop up and influence the image of the whole ecosystem. This happens since forever. People still transfer money to The Nigerian Prince.
With Elrond Giants, we want to build trust first
We started as a public team revealing our identities, making sure it's obvious who we are. We're working on creating a company to incorporate the project and navigate all the grey areas so we can build a community-led and solid project at the same time. The plan is to build in public, be transparent and get as much feedback as we can.
We plan to build a validator node on Elrond, plant 10k trees, build a meta village and the economics around it, and a few other projects that merge technology, community, and new business models while partnering with other organizations so we can build more value together. We're building step by step, having the big picture in mind.
Building with the community has one major advantage: you get to start from day one with the first 1000 fans at least. Imagine having 5000 investors in your startup. How much knowledge could they bring to your project? How much value you can gather if each would contribute with a few ideas on what to do better and where to search that answer you're looking for. And everyone is interested to help because they get something out of it as well. It's like a cap table on steroids.
With Elrond Giants, we already have 2k users in our Discord channel and we already learned so many things from them. We know what we want to build in the long term but we adapt with each new step and try to learn as much as we can and build with the community, for the community.
NFTs (non-fungible tokens) as new technology and blockchains in general open a wide range of possibilities. There are so many new things you could build that were not as easy before or that nobody thought of. If nothing else, it's a big paradigm shift that comes with a lot of support for new projects in this space.
With NFTs, you can sell digital art and earn royalty even after the first sale. You buy and trade collectibles of any sort. You can create virtual clubs and use them as membership cards. You can play games, earn and own your characters and asset. And there are probably too many ideas to even mention. There's probably an opportunity for any business or community you may have.
I'm not saying there's a big problem and your life would be awful if you didn't start to look into NFTs and blockchain. But you probably want to. Sooner rather than later.
If you're interested in our project, Elrond Giants, join us on our Discord channel and check our website for the latest updates. If you're interested in NFTs in general or need help with a project contact me on Linkedin and let's have a talk.