NFTs and social capital. How projects are collaborating to the mutual benefit of the entire sector
On Dec. 2, 2021, Bored Ape Yacht Club (BAYC) amassed the attention of culture driven athletic brand, Adidas and cemented their partnership raising both its notoriety and value. RTFKT studios was acquired by Nike and has also garnered the community’s attention by airdropping the first Nike NFT, MNLTH.
The MNLTH airdrop lives up to its name as RTFKT introduces a new concept to NFT reveals since the community triggers it. The MNLTH NFT is only revealed once the community collectively completes all the quests to which members are speculating whether the contents are Nike goods.
RTFKT is a premier digital brand. Their combo of tech & culture understanding made them a great fit for Nike. The first co-branded NFT dropped earlier this month. The MNLTH (short for Monolith) is yet to be revealed, but speculation is that a Nike digital good sits inside. pic.twitter.com/xSlof0L81q
These new developments show that NFT collections are realizing the value in partnering with strong thought leaders, brands, and communities as a way to increase their overall value in terms of social and investment capital.
NFT projects that establish key connections that assist with their social arm and increase the overall floor price value of the collection serve as proof that there is value in collaborations in the NFT ecosystem.
Here’s a look at a few projects that are using this strategy to make waves in 2022.
FoxFam NFT is a project that is quite popular with artists in the sector, notably, Invisible Friends creator, Markus Magnusson, took to the London-based YumYum studio collection along with his wife and fellow artist IraG.
We're sooo excited to reveal the PixelFox species!! PixelFox will be integrated for use in @Worldwide_WEB3 game and will be
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