One main takeaway from my conversation with Volition Capital founding partner and GameStop board member Larry Cheng—published in yesterday’s edition of Crypto Global—is that a strong sense of community is vital to successful NFT initiatives. “You either have to have a very engaged community or you have to have the capacity to build one,” he said. “If you just drop an NFT into the ether, no one cares.” 

With million-dollar sales among NFT collections like Cryptopunks and Bored Ape Yacht Club, an increasing number of companies are banking on the engagement of their brand communities as they launch their own NFT initiatives.