Standing out in the global sea of NFT creators will become more challenging as this digital renaissance goes mainstream. That said, the creators who have a good understanding of why collectors collect will be at an advantage.
There are 4 key reasons why someone might consider adding an NFT artwork, song, or video to their collection.
- Love and Support — Emotions run deep. A collector with an emotional connection to a creation is more likely to try to acquire it. It must resonate with them. If it does, the collector will find joy in owning the NFT and supporting the creator.
- Fun and Excitement — There is a certain thrill that comes with collecting. Especially when a collector is trying to complete a set or series of works. Think about how people find pleasure in collecting Pokémon cards, baseball cards, sneakers, watches, etc. This is a very rewarding experience for many people. The same applies to NFTs.
- Investment — Some collectors are looking to make future profits by reselling. They seek to identify and add NFTs to their collection that are likely to appreciate over time.
- Clout, Access and Status — Bragging rights come with owning 1/1 of a particular NFT.
The creators who put themselves in the shoes of collectors and understand the various motivations involved in collecting will have an edge in the market.