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What are the risks and how will Lemur Lounge handle them?
The NFT space is still so new and we get it... there's so many different projects trying to achieve something similar to us. That's why we really wanted to make our entry price super affordable. There's many competitive risks in the space right now... literally every project claims to be a "brand" and it's super hard to stand out from the crowd.
The way we will get around these competitive risks is to continue building up our awesome community and strengthening our connections within the space. It's super important for us to establish long term partnerships in order to secure the longevity of our project.
Our plan is to use our already established relationships both in the Web2 and Web3 space in order to continue developing and building Lemur Lounge. This will also draw in and interest more potential partners when they see we are building a strong community and brand to back it. We're not saying it's going to be easy either..
We're aiming for mass adoption of our brand and that will definitely be an uphill journey which is why we need to create the best product and turn our brand into a lifestyle.
One of the biggest risks for the longevity of our project is us failing to secure meaningful partnerships.
We will mitigate this by working closely with upcoming metaverse projects and build relationships both in the web2 space and in web3.