Price x Value Difference
Understanding this can help you to have good results during the next mints ;)
Understanding first all the differences in value and price is a basis for discovering what NFT's projects are really capable of offering, so let's explain the concept of exchange in a simple way.
As explained in Sapiens by Yuval Harari, since the beginning humanity itself has been trading. At the start, we traded chickens for pigs without requesting the difference between the size of each one, everything in this scheme led us to understand that often pigs weights more than a chicken, and the tradings changed for equivalent items, them, for a primary way to have a fix price coin as we know as fiat (way before silver doubloons, etc), that started to fluctuate when the worldwide market started to put together price and value on each one.
So, trading is a basic perk and skill from humans, we trade what we like and mostly what we see as value, even if the price doesn’t catch that.
Price is where all products are set for sale, for example we all know that a cell phone has a fixed price and that price depends on several things; company profit, manufacturing cost, transportation, etc. If I, another store, or anyone else sells to you, it's just a cell phone.
The value is in the benefit, emotional identity, or advantage that buying or having this cell phone can represent for you. If inside that cell phone were the keywords of the Cardano Foundation wallet, the cure for a disease like cancer, or a way to simply bring a loved one back to life, the value of this cell phone would be priceless, right?
This is the basic difference between price and value. With price, you have a fixed value that is not necessarily different from the value that it adds, and value is how much we are willing to pay for something the product offers.
In NFTs, often, the value is in how much a community is committed to showing the public that that project has value, commenting on, talking on Twitter, not only “creating hype”, but creating a solid foundation of a strong community. that has ongoing engagement.
Price is the starting point, it's the amount creators decide to charge for a mint, and obviously, value is what the community decides through listings in secondary markets.
All the value applied to a project depends on how the holders react to the administration of the same, or how each one values their own money, even after a minting we see that there are people who devalue what was created for very little, listing projects below minting price 1 day after launch. There are also those who become religious about a project, not necessarily with exaggerated sales, but evangelizing everything and everyone about the project in an even exaggerated way.
Neither of them adds value, in one, you are taking the value out of the money itself, and in the way you struggled to get it, the practice of listing NFTs below the price after a minting, either because you can't get a rarer NFT or for liquidity, it's a LOSS strategy, it's not smart, and it doesn't enrich the community itself.
On the other hand, you are simply evangelizing for having filled your bag with the project, and even if they do something wrong, create doubt or fear, or are clearly deceiving the community, you defend them, without being critical or really impartial about it, and that it's not creating value on top of what you hold, it's simply turning false information into more false information and luring new people into possibly the same hole you'll be in in the future, or, blindly believing in dubious creators who don't return to the community or keep their promises is a way of pretending that you create value on something that doesn't exist.
That's why it's important to understand that the price you pay on minting and the value these NFTs will have is completely dependent on who holds them. Encouraging the community to actively participate and create education related to the value of their NFTs is the best way for creators and consumers to reach bigger and more resilient floors.
Here at Cute Dumb Orcs, we have a buyback system with an acceptable margin so that our project can sustain itself in secondary markets over the months, all this using a public wallet that returns the profits to the community, learn more by visiting our website, signing up here even on The Horde Newsletter and getting to know our project on Twitter.