NFT marketplace is a pretty bustling space, with lots of new projects launching to become the better way to buy and sell NFTs. Some marketplaces tend to focus on specific types of NFTs being traded as a unique edge, while other marketplaces tend to provide new incentives to trade, such as lower transaction fees and profits using staking. (For more information on different NFT marketplaces relevant to digital fashion, see here.)
But in this saturated space, Fumigene shows a unique perspective on how NFT marketplaces should be understood and how it should thrive long-term. Here, we interviewed Amel Alem, founder of Fumigene, and asked what sets Fumigene apart from other competitors.
M&W: Could you tell us about Fumigene and what makes it different?
Amel: Fumigene is a curation-first NFT marketplace with a focus on high-end digital artworks. We see ourselves more as a label, as we co-create with other designers to produce high-quality, high-end projects. We are one of the few projects that is 100% on Polygon, making our project environmentally friendly and cost-efficient through lazy mint.
M&W: NFT marketplace is a very competitive market—is there any strategy that Fumigene takes to attract collectors?
Amel: Right now, we try to focus more on taking care of designers, as we believe that better projects will attract more collectors. But we also put efforts on education, because we need to make more people become familiar with blockchain and NFTs in general. If only 1% of the global population understands these technologies, there is really no market for NFT art. That is why we try to balance the efforts of curating good projects and expanding the audience.
M&W: What are your predictions on the NFT market?
Amel: I personally believe that market correction is happening right now, and I agree that this will be a tough time where many projects become challenged by market forces and lack of demand. But through this period, I believe that the projects with the right quality will stay and people will come into this space with more confidence. And I personally believe that by the end of this year, we will see more exciting, high-quality projects launching and attracting more people.
M&W: We saw that Ilona launched her designs on Fumigene—how does Fumigene see the field of digital fashion NFTs? Anything you want to say to digital fashion designers?
Amel: It was great working with Ilona and presenting her works on our platform. I am always fascinated by the project opportunities with designers with deep experience and we are always looking for new designers, new artists in fashion and indie labels as well!