As the saying goes, “there’s power in numbers” and NFT collections have realized that social capital is just as important as investment capital. ohihello1 explains.
February 15, 2022
What’s in the MNLTH box is a mystery to most, but the community has really taken to the initiative behind its reveal. RTFKT announced a novel idea whereby the community and blockchain would trigger the slow unveiling of the contents in the box and the MNLTH reacts once it's triggered by evolving one step closer to its reveal.
Engaging the community in this way has proven to be positive for the project and the collection’s volume. MNTLH has amassed over $32.5 million in total volume so far and has maintained an average sale price of 4.33 Ether In the last seven days, the number of daily sales has stayed above 50, suggesting that investors and collectors are seeing value derived in the RTFKT ecosystem.
Beyond game theory, tokenomics, and sorting utility, NFT collections and communities are thriving by forming interpersonal relationships and connections with other notable players in the sector. It seems that by increasing the social capital of the community and the associated collection, there is intrinsic and extrinsic value derived from it.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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