Building In A Bear Market

It’s been a rough few months for everyone involved in the Web3 revolution. Projects like ours here at SeatlabNFT are being built for the long-term future, but that doesn’t stop the current bear market from weighing heavily on many involved in the blockchain space.

The Bear Market & Web3 Development

Since most of the investment opportunities in a bear market are on a downward trend, there is little to no profit to be made in short-term trades. For long-term, serious investors, however, this represents an excellent opportunity to build their portfolio.

Web3

For Web3 investors, with many of the short-term opportunists taking time out, a bear market is a chance to find up-and-coming projects which have significant growth potential in the long run.

For those developing a Web3 platform, a bear market can also be a good indicator of the strength of a project. Legendary investor Warren Buffet explains it in colourful terms “Only when the tide goes out do you discover who has been swimming naked”. Put more simply, projects developed during a bear market will only have the most serious, long-term investors looking to put money in.

This gives an advantage to projects being built in a bear market, in the sense that investment in them is more likely to be a long-term hold, giving more stability and security to the project.

SeatlabNFT

When we first imagined SeatlabNFT, we could never have predicted the crazy market downturns that 2022 has seen. However, our project isn’t a short-term solution. Instead, we’re building our platform to redefine event ticketing for good.

The bear market is also giving us time to focus on our long term goals rather than short term hype which will ultimately mean we build a better product that outlasts the frenzy of a crypto bull market.

In spite of poor market conditions, we have held a successful IDO for our native $SEAT token and are continuing to work hard on developing our platform.

In the last few months, our team has expanded fast as we brought on board more developers to help us meet our target of a Q3 launch, and we have some incredible collaborations in the pipeline for various events.

We’re also in the process of launching our $SEAT token on various exchanges, so keep your eyes peeled for announcements over the next few weeks.

Looking Ahead

As we approach launch, we’ve begun to start focussing on what our platform can bring to the live events community. With this in mind, we’ve started looking at several different launch events and collaborations with some big-name artists. So you might even start to see us at various live events, both here in the UK, where we are based and in-and-around Europe.

We’re not taking the bear market lightly, as we know many of the community have suffered some serious financial losses. However, for the SeatlabNFT team, we are focused on the long-term solution our platform will provide for the event ticketing industry and the live events community.

To be the first to hear about our upcoming events, collaborations and platform features, ensure you stay in touch via the channels below.