{"id":27140,"date":"2023-10-17T19:28:39","date_gmt":"2023-10-17T19:28:39","guid":{"rendered":"https:\/\/habo.studio\/?p=27140"},"modified":"2023-10-18T12:57:34","modified_gmt":"2023-10-18T12:57:34","slug":"deciphering-the-nft-market","status":"publish","type":"post","link":"https:\/\/habo.studio\/deciphering-the-nft-market\/","title":{"rendered":"Deciphering the NFT market to support the positioning of an established cultural institution in this ecosystem"},"content":{"rendered":"\t\t
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Market Study and Value Proposition Validation<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Deciphering the NFT market to support the positioning of an established cultural institution in this ecosystem\n<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Client profile<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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LOCATION<\/h3>

Canada<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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CLIENT<\/h3>

Cultural Institution<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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TARGET MARKET<\/h3>

Global market<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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LOCATION<\/h3>

Canada<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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CLIENT<\/h3>

Cultural Institution<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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TARGET MARKET<\/h3>

Global market<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Challenge<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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In an effort to enhance artists’ visibility and broaden its activities, the organization expressed a desire to establish a presence in the global NFT art market. Our mandate was designed to address two primary objectives:<\/p>

  1. Confirm the relevance of a new offering in the complex, recent, and volatile context of the NFT sector: technical aspects, multiple stakeholders, absence of geographical boundaries, etc.\u00a0<\/li>
  2. Develop a business model that ensures international deployment.<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    Conduct a market study of NFT art to position a new offering for a Canadian cultural organization.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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    Solutions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    Three major complementary steps were taken to meet the organization’s objectives and ambitions:<\/p>

    1. In-depth understanding of the institution’s intent and ambition for the project: current positioning, project vision, available resources and means, existing experience, and constraints.<\/li>
    2. A detailed analysis of the NFT art market to develop a comprehensive picture of its key characteristics and components: historical background and evolution, types of offerings, trends and dynamics, key players, model and structure of operating organizations.<\/li>
    3. Aligning the institution’s vision with the market environment to guide strategic and operational decisions for the project, ensuring its relevance.<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      Results<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      \u2014 Optimizing the project’s value proposition and defining its strategic positioning.
      \u2014 Identifying the key success factors for the project’s deployment.
      \u2014 Proposing a business model tailored to the organization.
      \u2014 Identifying the key resources and partners to engage to implement the project.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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      \n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tNext case study<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

      The NFT market has plummeted since its peak in August 2021, prompting questions about the future of these digital assets. To regain or maintain their value, NFTs must demonstrate substance by providing utility or serving as a medium for true Art, as recognized by the market.<\/p>\n","protected":false},"author":11,"featured_media":27155,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,11],"tags":[],"sectors":[103,99],"class_list":["post-27140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies","category-market-analysis","sectors-museums-and-cultural-institutions","sectors-technology"],"acf":[],"yoast_head":"\nDeciphering the NFT market to support the positioning of a cultural institution in this ecosystem.<\/title>\n<meta name=\"description\" content=\"The NFT market has plummeted since its peak in August 2021, prompting questions about the future of these digital assets. To regain or maintain their value, NFTs must demonstrate substance by providing utility or serving as a medium for true Art, as recognized by the market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/habo.studio\/deciphering-the-nft-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deciphering the NFT market to support the positioning of a cultural institution in this ecosystem.\" \/>\n<meta property=\"og:description\" content=\"The NFT market has plummeted since its peak in August 2021, prompting questions about the future of these digital assets. 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