National Geographic NFTs Turn Into a National Failure
National Geographic has entered the NFT field and it was not successful. The company was certainly unprepared for the level of criticism it received after announcing their inaugural NFT collection. Proud to announce that National Geographic has embraced NFTs, the company quickly faced backlash from its community and several technical problems. The promising collection featured unique art works from popular photographers as a Genesis Collection on Polygon failed to deliver a proper mint.
Why Were National Geographic NFTs a Failure?
First mistake of National National Geographic : using a Bored Ape Yacht Club NFTs as illustration of NFTs on their website and social media account to promote their own NFT. For the NFT community, this looked like a scam and this is actually the moment when the backlash began. The purpose of the nature-focused publication’s message was obviously to prepare their audience for the Polygon launch of their own-branded NFTs Collection.
The community responded negatively.
Adding to that, the technical problems with the Snowcrash platform for minting the NFTs
Another type of failure was the Porsche NFTs collection.
What Lessons To Avoid Failures
Considering the current market, building the space in Web3 as a brand might be more successful through NFTs giveaway, with a mint on a solid technical platform Is essential to avoid any disappointment from the community.
It is essential to consider the reactions of the community and the current economic environment before entering the world of NFTs. This requires a deep understanding of the technology and the patience to educate the community on its benefits. Education in Web3 is key : brands have to provide valuable lessons on the importance of communication and transparency in the adoption of new technology.
Entering the Web3 field requires working with cultural leaders of the NFT and cryptosphere, and wisely chosen partners.