World of Alidia’s NFT Project Fails to Take Off, Leaves Investors Disappointed
The highly anticipated NFT project, World of Alidia (WOA), aimed to attract women, especially beginners, to the world of blockchain. The project offered digital artwork for sale at 3000 kroner, providing buyers with more than just a speculative investment. The purchase also included a lifetime membership with access to workshops, events, coworking spaces, a yoga room, and a lounge. However, after 16 months since its introduction, the project has failed to fulfill expectations, leaving investors disappointed.
WOA was founded by influencer and entrepreneur Vanja Wikström and her partner, Niklas Malmqvist. They described the venture as a passion project combining art, community, and technology. The couple risked their entire reputation with this venture, aiming to raise 30 million kroner in the first step. A portion of the proceeds was intended for ME (myalgic encephalomyelitis) research.
Before the launch of World of Alidia, many NFT projects had already lost value, and the connection to cryptocurrency was not without controversy. Nevertheless, Vanja Wikström dismissed the criticism, comparing the investment to buying a branded bag that immediately drops in value. She argued that World of Alidia offered something more valuable that could potentially appreciate over time.
However, recent developments have cast doubt on the project’s future. The founders recently removed all World of Alidia-related content from their profiles, sparking discussions about the project’s status. Vanja Wikström addressed the issue in a blog post titled “The Future for the World of Alidia.” She expressed disappointment and acknowledged that despite their dedicated efforts, the project had not gained enough traction.
The NFT market’s crash and lack of interest in NFTs were cited as factors contributing to WOA’s decline. The value of World of Alidia’s NFTs dropped significantly from 3000 kroner to just a few hundred Swedish kroner. The company’s vision of establishing a physical hub never materialized, leading them to shift focus to a digital hub and building their Metaverse. However, this endeavor proved to be far more challenging than anticipated.
In 2022, World of Alidia reported a turnover of 2.6 million kroner and an operating profit of nearly 400,000 kroner. Despite the disappointing outcome, Vanja Wikström encouraged NFT buyers to feel proud of being pioneers in exploring this emerging market.
The story serves as a cautionary tale for those looking to invest in NFT projects and highlights the inherent risks associated with this relatively new and volatile market.