Fancy launching your own NFT brand? Join Solana’s сontest!
Solana has rolled out the NFT Showdown, an initiative targeting aspiring entrepreneurs eager to curate a digital compilation. This opportunity spans various domains, including fashion, gaming, and pure recreational delight.
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In light of the swift evolution of the cryptocurrency landscape and the escalating appeal of NFTs, notably among trend-setting brands, Solana is offering a chance to everyone to garner backing for the execution of their concepts and the cultivation of a vibrant community.
The contest aims to stimulate emerging NFT creators to prioritize innovation and concentrate on the careful refinement of details. Consequently, established projects won't be considered, with judges identifying winners based on the strength of their business blueprints, laying special emphasis on understanding consumer requirements, potential real-world utilization, and undoubtedly, the employment of Solana's blockchain. As a reward, ten participants will enter into direct collaboration with the official team, gain access to their cutting-edge tools, receive endorsements from NFT community pioneers, as well as secure a pass to the Breakpoint event in late October 2023.
The NFT Showdown is designed to encourage a shift in the way NFT brands design their business plans prior to launching,
© Austin Federa, Head of Strategy at Solana Foundation.
However, Solana Foundation clarifies that triumph doesn't guarantee securing financial support either from them or other investors. Developers should understand that this opportunity merely represents a chance to receive insights from seasoned market stalwarts to ensure a sustainable trajectory of success.
How to participate?
Currently, the only available option is to subscribe for updates. However, from the 5th to the 9th of June, participants will have the opportunity to submit their presentations in PDF format. This timeframe allows contestants ample room to elaborate on the details of their project proposals, which ought to encompass:
1. A concise explanation of the problem being addressed.
2. A clear description and portrayal of the target audience.
3. A holistic business model and strategy for the product's application.
4. Plans extending over both the short and long term.
5. A visually stunning standard for the NFT collection.
The deployment of Solana's cutting-edge technologies (like xNFT, state compression, etc.) isn't obligatory but could act as a commendable plus, potentially swaying the judges' verdict to be declared on July 9th, 2023. Despite the competition not having officially commenced, numerous projects (such as Dialect, Tensor, Lollipop, and Magic Eden) have already extended their endorsement, underscoring the importance of assisting fledgling collection creators.
For the last 18 months, we have supported Solana creators entering the space and collaborated with hundreds of projects who have sold out on Magic Eden. This initiative is about getting new faces and ideas into the ecosystem, and we're excited to see how we can play our role to expand the ecosystem,
© Tiffany Huang, Head of Marketing & Content for Magic Eden.
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