The NFT market faces challenges, but it remains the entry point to Web3

The NFT market is currently in a challenging period, but it remains an important channel for traditional internet users to enter the Web3 world.

Problems Encountered in the NFT Market

NFTs can be roughly divided into two categories: production-type and collective-type. Production-type NFTs face the dilemma of "either growth or extinction." Due to indiscriminate issuance leading to inflation, they ultimately fall into a vicious cycle of value collapse. The ecosystem of this type of NFTs is too fragmented, with projects not interconnected, making it difficult for users to engage deeply.

Collective NFTs form a closed small circle due to their scarcity, making it difficult to expand their influence, and the community size is limited. The marketing model of blindly copying and lacking practical application scenarios also struggles to maintain long-term popularity, ultimately resulting in a fleeting moment.

Advantages of NFT

Compared to cryptocurrencies, the non-financial attributes of NFTs can lower the psychological barriers for users. NFTs can be converted between tokens and NFTs, enhancing asset liquidity. Project teams can design activities around NFTs to increase community engagement.

NFT also has unique social and emotional value, showcasing personal characteristics in social networks, which is an important part of the digital lifestyle.

Experience of StepN

1. The Move-To-Earn model has been validated by the market and has application potential in the health and fitness sector.

2. An effective anti-cheat system and activation code mechanism are crucial for sustainable growth.

3. Web3 user guidance is more complex than Web2 and requires more education and guidance.

4. Web3 social is a necessity, users have a genuine need for social interaction.

StepN Go's Growth Strategy

1. Capture user attention: simplify mechanisms, zero-investment incentives, etc.

2. Promote a rental system and develop a social network of acquaintances.

3. Control the growth rate and extend the product lifecycle.

4. Improve the economic model to eliminate inflation caused by renewable resources.

5. Promote the demand for native Collective NFTs as a symbol of social status.

Strategies for Dealing with Stagnant Growth

1. Establish internal consensus and develop a unified marketing strategy.

2. Collaborate with major brands to enhance influence.

3. Purchase or collaborate with well-known IPs.

4. Encourage users to share on social media, such as the "Show off" mechanism.

5. Utilize social media for targeted marketing to enhance brand affinity.