Bullish on MonkeLabs
MonkeLabs has announced it will come for ETH, after the platform’s quick rise and success in the Solana ecosystem.
As a holder and investor, I am very confident in their approach and I am increasing my position in the project.
Why? This is the way I see it.
Product Proposition:
For NFTs to grow in popularity, more people need to create and launch projects. We are being bottlenecked by having to reinvent the wheel all of the time. We need too many devs involved.
Monkelabs can grow beyond a launchpad and become a full suite of products to help you put together and launch an NFT project. It also provides a familiar and easy-to-use interface to do so.
Business Model:
ML helps launch products more efficiently, reducing the upfront investment of both time and money from founders. In return, ML receives a small percentage of mint sales and future royalties.
Investor proposition:
Holders of ML NFTs receive 50% of revenue from launches and royalties.
Approach to competing with marketplaces:
Launching and running an NFT project is composed of many aspects and phases. Monkelabs focuses and helping founders achieve successful launches. Monkelabs is not a marketplace and believes that launchpads that exist in marketplaces are limiting and create walled gardens and makes projects depend on specific marketplaces, creating more risk and potential liability for founders. Monkelabs will aim to launch projects that can exist in any marketplace.
Approach to auditors:
There is only so much auditors can do to prevent scams and bad faith actors. The Web3 Space is still young, and a lot needs to evolve to achieve complete protection against that; it is currently part of the system in any NFT pursuit. However, ML will partner with RadRugs and others focused on solving the Auditing problems to provide those services to projects launching on our platform.
The approach is to focus on one part of the equation, do it well, and partner with others who are focusing on the other parts.
ML is proposing an ecosystem that fosters competition rather than working within the monopolies of walled gardens. Each player focuses on one part of the equation.
Build and Launch on Monkelabs or others
Get Audited by Radrugs or others
Sell on Magic Eden or others
Stake with Honey Finance or others
There is plenty to be said about the need for infrastructure in the rising space of NFTs. The same goes for projects like these — built using NFTs as s mean for community funding and participation for great products and services.
And that is where our best efforts are needed now.
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Important reminder — These are my opinions and not meant as financial advice. I encourage you to do your own research on projects you want to invest in.
Full disclosure—I own 4 NFTs on the Solana version of MonkeLabs.
