Leverage NFTs with utility and dynamic properties
Discover how Yuga Labs stands out in the crowded NFT market with smart marketing strategies and dynamic NFTs.
Yuga Labs, blockchain gaming and NFT platform is primarily known for its iconic collection of NFTs woven into a connected monkey universe that has spawned a number of Web3 projects such as Dookey Dash and Otherside Metaverse.
But have you ever wondered about the clever marketing strategies they use to stand out in the crowded NFT market? In this article, we will take a closer look at this phenomenon.
Yuga Labs ecosystem
It has been taken for granted that the Yuga Labs ecosystem is complex. But despite its abundance and complexity, the company leverages NFTs with utility and dynamic properties to create a unique user experience.
One of Yuga Labs’ most successful marketing strategies is Otherdeed, a collection of NFTs with unique properties that offer utility beyond their aesthetics. Otherdeed has a variety of traits including Artifact, Sediment, Resource, KODA and more.
An important factor in this collection, however, is the lack of publicly available information about the property’s utility value. This can lead to negative problems in the community, sometimes even going as far as losing confidence in the project.
To solve this problem, Yuga Labs recently announced LOTM, a game-changing piece of Otherdeed’s content. LOTM reveals the purpose of ‘sediment’ and helps users understand a KODA.
After LOTM was announced, Tier 3 Sediment experienced a huge increase in trading and price activity, showing the impact of the announcement on the asset. However, there are still many unknown properties, including “creatures”, which leave room for further discovery and potential market impact.
Yuga Labs’ approach to introducing follow-on NFTs provides valuable lessons for other gaming projects. While it is common for game projects to introduce follow-on NFTs as a way to maintain market interest and improve utility, there is a risk that it could devalue the original NFT.
Having a clear roadmap is essential to launching a game or project. Following the roadmap provides opportunities to leverage the different capabilities of your NFTs. Developing properties with utility beyond their aesthetics, Yuga Labs uses dynamic NFTs to build anticipation.
Final thoughts
In conclusion, Yuga Labs leverages NFTs with utility and dynamic properties to create a unique user experience. Otherdeed is a successful marketing strategy that provides valuable lessons for other gaming projects. By crafting a clear roadmap, developing features with utility beyond their aesthetics, and using dynamic NFTs to build anticipation, gaming projects can stand out in the crowded NFT market.
Edmond is a passionate writer for video games, GameFi and Web3. He has worked for top GameFi companies and video game/crypto news sites.
