Generative art isn’t going anywhere.
The PFP and community-oriented projects will still survive longer than a five-plus year time horizon. Many of these projects will not, but winners will emerge as we go through another cycle through which communities will become hardened and their teams will have delivered on their promises. I think we’ll look back at the historical relevance of Autoglyphs and early Art Blocks with an “Oh, duh!” moment five or more years from now.
For potential new NFT collectors, take your time when entering this ecosystem. There is too much FOMO for the typical new collector, causing them to make poor decisions. First, get to know the overall NFT ecosystem, network with other like-minded community members, and figure out what you’re looking for before spending too much of your capital.
The secret to being a satisfied collector is not to get caught up in the ‘flavor of the month’ artists, platforms, or projects. Instead, buy NFTs from artists or communities you enjoy talking with and spending time with. You won’t regret these purchases when an inevitable downturn comes.
If you’re a new artist coming into the space, start following other artists doing things you’d like to do. Most NFT artists are still very approachable, and you can make some valuable friendships by networking through replies, DMs, Twitter Spaces, discord chats, etc. You can ask other artists about collectors and get their opinions on who has treated them well and who hasn’t. Sadly, there are various collectors – some who are incredible and will move mountains for you – and others who try to manipulate you.
Keep your guard up and know your worth when you enter the space. If something seems too good to be true, it probably is. There are many opportunistic and downright rotten people in the world, and there will always be some in the NFT space too.