Modern blockchain community is faced with three core issues
Callisto Collective has identified three core issues that exist in the current modern blockchain community.
Issue #1: No way of creating deep 1-on-1 connections within the space
Hesitant to state the obvious, but the blockchain space has experienced enormous growth over the last ~3 years, with the total cryptocurrency market cap growing by over ~10x since CY20.
As a result, the demand to be a part of an established and experienced blockchain community has rapidly grown.
For the average individual, this is has meant they have joined two types of communities:
- ‘Water cooler’ crypto friends: Circle off personal friends (<25 people) that are off similar background who lightly discuss blockchain on the side.
- Large ‘anon’ communities: Multiple highly specific anonymous communities that have limited engagement
Both these communities are highly beneficial for individuals new to blockchain, but have very limited benefit for experienced individuals looking to be deeply invested into blockchain over the longer-term. This is due to that neither community allows for the development of personalised 1–on-1 connections with individuals outside of their personal network.
These connection for example can help investors overcome the substantial barrier that exists in transitioning from trading alone to project creation.
For many traders that have been in the space for a considerable length of time, they see potential opportunities and have very promising ideas. The reason for not acting on these ideas is that the average trader has no complete knowledge in marketing, coding, and no significant connections in the blockchain space. Furthermore, they have no cost effective way of outsourcing these tasks in order to bring their idea to life. Conversely, there are very skilled but unknown professionals in the blockchain space ready to collaborate on new projects to make a name for themselves.
The missing link is simply a catalyst to introduce both parties and initiate this lucrative commensal relationship.Once filled, this will unlock another surge of growth within the space.
Issue #2: Limited opportunity to earn passive income with NFTs
One of the key goals for any investor with any portfolio size is passive income. It’s one of the key buzzwords in blockchain and one that provides real excitement when a new opportunities arises.
Unfortunately though, seldom are projects able to generate high and stable income streams for investors. Furthermore, projects that promise attractive APYs are often short lived, or worse, repeatedly exploited leaving some investors with substantial losses.
The core issues centre around both income generation and unrealistic expectations.
Many projects promise lucrative passive income but simply have no reliable way to generate the income required to facilitate such gains. What’s needed is for a project to devise reliable methods of income generation and offer this to a manageable number of investors. In doing so, they maximise their chances of bringing the vision of passive income, to fruition for their investors.
If a new project in the NFT space were to devise a unique strategy to offer reasonable passive yields to a select community, it could represent a first in the space.
Issue #3: Increasing difficulty in capitalising on early blockchain projects
Over the last 12–24 months, there has been unprecedented growth in the pure volume of blockchain projects being launched, with thousands of new coins and NFTs being traded daily. This had made it near impossible for any individual alone to discover great projects that are unique and could provide long-term value.
Not only has it been tougher to find great projects, but projects have made it tougher for individuals to reap the benefits of finding a project early. Projects continue to add hurdle after hurdle for individuals to get some benefit. Whitelist and presale spots are too limited, and now are only being rewarded to individuals who are extremely engaged — something that is near impossible given the shear volume of projects individuals are tracking.
This individual and siloed approach to researching projects is having diminishing returns in the modern space. A new approach is required; something that leverages the community and ensures that presale/whitelist spots are rewarded as a community that works together.
