A seismic shift is underway in the non-fungible token (NFT) community, as it begins to critically evaluate the true essence of value in the NFT ecosystem. The key takeaway is that an NFT's price is not always a reliable indicator of its inherent worth.

As informed NFT collectors, we're moving past the allure of hype and speculation, a transition underscored by the decline of entities like Azuki and Ether. We recognize that the real worth of an NFT extends beyond its listed price, encapsulating a multitude of fundamental factors that collectively contribute to its potential value. 

However, the most prudent advice remains to always scrutinize before purchasing. Never acquire an NFT without engaging the team with precise, hard-hitting inquiries, ensuring that what you're investing in is not just a transient trend, but a project with enduring potential.

Product-Market Fit

Customer satisfaction is a non-negotiable value driver. Projects must focus on creating products that paying customers love and they need to be able to iterate fast to meet customer demand.

Questions to ask the team:

• What is your product's "Wow Factor"? What about it do customers love?
• How does your team iterate its product based on customer feedback?
• What tangible customer-benefits do your NFTs provide within your product ecosystem?
• Do you have a process in place that encourages happy customers to generate referrals for your project?
• Are you and your team adept at quickly and effectively resolving customer concerns?

Sustainable Revenue

Remember that cash is king, no treasury can last forever, so a project's potential to generate cash is vital to long-term survival. 

Questions to ask the team:

• Does your project offer mass-market products that cater to a significant mainstream audience?
• Is your target market sizable enough to sustain a viable business?
• Do you have the capability to seize a considerable portion of the market? Can you develop a product that outshines existing incumbents?
• Can you devise revenue models that enable consistent customer engagement throughout the year?
• In what ways can your company extend its services beyond standard interactions to benefit customers?

Scalable Growth

A project's growth trajectory can indicate the future success of its NFTs. To assess this, look at the industry's growth prospects and how the project fits into the target market. 

Questions to ask the team:

• How fast is your industry growing and is your project capable of matching or surpassing incumbents in this market?
• Can your project expand its offerings or repurpose its services to cater to a new customer base in a parallel industry?
• Is your project's ethos and operational procedures conducive to fostering a growth-oriented approach?
• How many people can purchase or use your product simultaneously? How hard is it for you to scale and serve a fast-growing customer base?

Market Dominance

Market control is another factor. For a project to thrive, it should ideally dominate its niche.

Questions to ask the team:

• In what ways does your project outperform competitors in meeting customer needs?
• What is the global mission of your project?
• How does your project plan to execute this mission at scale?
• Are your team members fully cognizant of the project's purpose and method of operation, enabling them to consistently uphold these core values in their communication and work output?

Conclusion

Entering the NFT market should not be a leap of faith, but rather a calculated decision backed by thorough research and informed inquiry. Given the intangible and complex nature of NFTs, it is crucial to understand the project behind the token thoroughly and ask the team tough, probing questions. It's about more than just the price tag; it's about the project's growth potential, market control, revenue capabilities, customer satisfaction levels, and more. 

The glamour of this burgeoning industry may be enticing, but remember that an informed decision is always a better one. So, before choosing to purchase an NFT, dive deep into the project's specifics, question the team relentlessly, and understand the intrinsic value beyond the asking price. By doing this, you enhance your chances of making a successful and rewarding investment in the world of NFTs.