/biz/ - Business & Finance

>>51299787
>>51299787
Is this one of Sam's? If so, he actually made good NFTs.

It's obvious that this is just pure entertainment donation. No chance these will go up in value. Nft marketing is a huge risk and he would have had to drop around $100k to help drive mint out, but that may have flipped anyway. Nfts are generally dead and crypto natives aren't minting unless it's got mass celebrity backing.

For anons counting his pocketbooks, gross revenue is not net profit to Sam, especially if he puts it towards a game or further supports the community.

It will have cost him at least $100k to put this together, and potentially a lot more depending on how much he usually earns (opportunity cost) and how much capital he had to hire up front vs pay out off commission.

I had teams produce and sell 2NFT series. First one grossed a little over a mill, but cause I had $0 getting started I had to cut draconian commission deals with people so I ended with about $700k (at least $200 of gross was spent strictly on marketing spend)

This year, I hired people on salary and it cost closer to like $50k to produce and showed a much lower ROI for marketing spend.

In short, unless you can blow $300k on marketing OR have an organic audience who will buy because of your Twitter posts, NFTs are not profitable enough to be worthwhile.

I hope Sam makes it out with a good chunk of change. He will be doing very well to pocket $200k of the revenue.

>T. Bootstrapped a web3 nft company last year

>>51263417
Soon