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4 Pillars of an Unstoppable NFT Project
The NFT space is shifting from the periphery of mainstream awareness and just beginning to enter into a phase of mainstream adoption. The exponential growth of the NFT space brought with it both quality projects that reinvent value, as well as cash-grab scams feeding solely on hype and greed.
So, how can we differentiate the quality NFT projects from the bad ones?
There are four key elements to explore when determining if an NFT project is truly built to last — a quality team, ongoing utility, a unique angle, and an active community. In this article we will explore what an NFT is, and the attributes that help determine a quality NFT project.
What is an NFT?
NFT stands for non-fungible token. Leaving the jargon behind, an easy way to conceptualize an NFT is as an original art piece. An original art piece cannot be duplicated into another original piece, because there can only ever be one original piece. The unique identity of an NFT is made possible through blockchain technology — the framework underlying a cryptocurrency.
An NFT is built on top of a blockchain platform such as Ethereum, Solana, or Cardano. Once an NFT is brought into existence through a process called minting, its identity is tied to the blockchain and neither the identity nor ownership over the…
