The research report discusses the challenges faced by profile picture (PFP) collections in the NFT market. The report highlights the case of Azuki’s Elementals, which serves as a reminder of the pitfalls of the bear market. The report suggests that these collections, once held together by a strong sense of community, are now struggling to navigate the turbulent waters of the NFT market.
- Understanding Market Dynamics: The report highlights the importance of understanding the dynamics of the NFT market, especially during a bear market.
- Community Importance: The report emphasizes the role of a strong community in holding together PFP collections.
- Learning from Mistakes: The case of Azuki’s Elementals serves as a lesson for other PFP collections to avoid similar missteps.