# Market Analysis and Business Model

## NFT Market and Solana Analysis

<figure><img src="https://1383226413-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fe3b3vtdFzKvjinAgubqv%2Fuploads%2FRgP1T7naJYglHsmqfSgT%2F6.png?alt=media&#x26;token=cec435ac-7225-4028-81fd-2dcca9d2de58" alt=""><figcaption><p><em>NFT Market Cap and Volume as of Dec’23 - Source:</em> <a href="https://www.footprint.network/@NFT/NFT-Market-overview?series_date=2023-12-01~2023-12-31"><em><mark style="color:purple;">Footprint Analytics</mark></em></a></p></figcaption></figure>

The digital asset arena, particularly NFTs and the Solana blockchain, is poised for significant growth. Drawing from recent analyses, such as those by [<mark style="color:purple;">Statista</mark>](https://www.statista.com/)<mark style="color:purple;">,</mark> the NFT market is projected to reach an impressive $2.378 billion in revenue by 2024, with a steady growth rate of approximately 9.10% expected from 2024 to 2028, culminating in a potential market revenue of $3.369 billion.

<figure><img src="https://1383226413-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fe3b3vtdFzKvjinAgubqv%2Fuploads%2FlA2tKwUJFHE0VSyC27nb%2F5.png?alt=media&#x26;token=5a47ff50-f124-44c6-833b-9681da2d8306" alt=""><figcaption><p><em>$SOL growth in 2023 - Source -</em> <a href="https://ycharts.com/indicators/solana"><em><mark style="color:purple;">YCharts</mark></em></a></p></figcaption></figure>

Solana, known for its scalability, high transaction throughput, and low fees, is anticipated to continue its upward trajectory. Predictive models from [<mark style="color:purple;">Coinpedia</mark> ](https://coinpedia.org/price-prediction/solana-sol-price-prediction/)suggest Solana's native token, $SOL is anticipated to  continue the trend and see a substantial increase in value throughout 2024. These trends underscore the vibrant potential of the NFT market and Solana's ecosystem, providing a fertile ground for innovative projects like FR3 to thrive.

## Defining our Audience Personas

The FR3 project appeals to a diverse range of individuals, each with unique interests and motivations:

* **The Web3 Wizard:** Tech enthusiasts deeply immersed in the blockchain, NFT, and cryptocurrency sectors. They're always on the pulse of the latest Web3 innovations and actively participate in related online communities. FR3's cutting-edge approach and integration with Solana events make it a perfect fit for them.
* **The Connector:** Business-minded professionals and entrepreneurs seeking to broaden their network within the blockchain sphere. They're on the lookout for opportunities that facilitate meaningful industry connections. FR3's emphasis on real-life meet-ups and networking potentials aligns with their objectives.
* **TechNomads:** No, we’re not talking about mad tech bros; though they're certainly welcome too! We’re referring to developers who merge their passion for technology with a love of exploring new cultures. These are the individuals who thrive in flexible work arrangements and prefer a decentralised lifestyle. They combine work with travel, often engaging remotely in tech-focused roles.
* **The Crypto Curious:** Newcomers eager to navigate the complexities of the crypto and NFT landscape. They seek educational resources and community support as they explore blockchain technology and investment avenues. FR3 offers an accessible platform for immersion into the web3 world.
* **The Experiential Investor:** Investors attracted to NFTs not solely for financial returns but for the unique experiences and access they provide. FR3's exclusive event access and real-world applications of NFTs cater to their desire for investment-driven experiences

## Business Model Overview

<figure><img src="https://1383226413-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fe3b3vtdFzKvjinAgubqv%2Fuploads%2FNypxIRifUNsj4KhddGvt%2F7.png?alt=media&#x26;token=e1af7081-14a4-4f77-85f4-de8b16e7c7e0" alt=""><figcaption></figcaption></figure>

1. <mark style="color:purple;">**Revenue Generation and Enhancing Holder Value**</mark>

* <mark style="color:purple;">**Initial NFT Offerings**</mark><mark style="color:purple;">:</mark> Our revenue model is anchored in the sale of FR3 NFTs, each crafted to offer both digital utility and real-world value. The proceeds from these sales are critical for supporting ongoing project activities such as event organization, platform enhancements, and community-driven initiatives that bolster engagement and loyalty. Our minting strategy includes three phases: an initial free mint of a limited number of NFTs, followed by a whitelist-only mint at 1 SOL, and culminating in a public mint priced at 2 SOL.
* <mark style="color:purple;">**Secondary Market Dynamics**</mark><mark style="color:purple;">:</mark> We leverage a royalty fee on secondary market transactions of FR3 NFTs to generate a consistent revenue stream. This model ensures sustained reinvestment into the FR3 ecosystem, enhancing our ability to support further development and enrich community involvement.
* <mark style="color:purple;">**Secondary Market Dynamics**</mark><mark style="color:purple;">:</mark> We leverage a royalty fee on secondary market transactions of FR3 NFTs to generate a consistent revenue stream. This model ensures sustained reinvestment into the FR3 ecosystem, enhancing our ability to support further development and enrich community involvement.
* <mark style="color:purple;">**Diversified Revenue Avenues**</mark><mark style="color:purple;">:</mark> In addition to digital assets, our financial strategy encompasses generating revenue through merchandise sales, endorsements, and event sponsorships. These avenues allow us to diversify our income streams and strengthen the FR3 brand presence in the consumer market.

2. <mark style="color:purple;">**Future Pricing Adaptations:**</mark>

* Our pricing strategy is dynamic, reflecting the evolving NFT landscape and community feedback. Adjustments will be communicated transparently, ensuring our community remains informed and engaged.

3. <mark style="color:purple;">**Expanding Through Partnerships**</mark>

* <mark style="color:purple;">Innovative Tech Collaborations:</mark> We aim to partner with leading tech and lifestyle brands to introduce novel utilities and experiences for NFT holders, enhancing the FR3 ecosystem's value.
* <mark style="color:purple;">Community-Driven Initiatives:</mark> Collaborating with other NFT communities and projects for joint ventures and cross-promotional activities enriches our community's experience and exposure.
* <mark style="color:purple;">Influencer Engagements:</mark> Collaborations with influencers in the Web3 sphere help broaden FR3's reach
