I need to quote this post from connorkirsten.lens as it‘s just that good:
Unpopular Opinion: You don't need to time the market if you have a strong community 👏
Firstly, shoutout nulien.lens for this A+ meme. As part of our ongoing content contest, he'll receive 1,000 $XBG for it.
Now, time for a story... 📖👇
Back in Sept 2022, in the depths of the bear market, we decided to mint our genesis NFT collection, the Prometheus.
Now, keep in mind $BTC was at $20,000. It was a dark time. We announced a 1,111 collection at a 0.24 ETH mint price, around $400-500, which was insane then.
We knew what we were building would be really valuable and that our genesis holders would receive a good chunk of that value. The price made sense for us; we wanted to build with loyal holders from an early stage, and thus, we stuck to the plan.
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Web3 gaming was really early, and the NFT community wasn't as close to the gaming community as it is today. This, together with the mint price and the market conditions, made collabs tricky, to say the least.
We spent 2022 building a strong community of players and gaming investors, but this was tough to measure, and we were still early in our development. Even though we had the backing of SwissBorg, a well-established company, we were rejected by most alpha groups and communities.
When mint day arrived, we sold out the 1,111 in 24 minutes. I still remember being in the Discord mint party vc with about 100-200 other community members as the mint started. Half of the NFTs were minted instantly. Watching that bar fill up so quickly was unreal. 0 reply
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