👋🏻 Hey @Aalok_Trivedi and everyone who's kept this thread going — I’m weighing in with an update that speaks to a lot of what's been asked here!
Figma is changing how file organization works: Projects are becoming folders you can nest for deeper hierarchy, with folder colors to help you scan at a glance. That addresses a lot of the grouping and structure people have asked for. How deep you can nest varies by plan — details are in the announcement.
One note, since this thread covered a few different suggestions: This is folders, not tags. If tagging or nested tags is what you're after (e.g. where a single file can live in more than one place at once), that's a separate capability, and the announcement thread is a good place to raise it with the product team. The same goes for organizing the Drafts area specifically.
You can read the details and share questions with the product team during the rollout here: Rolling out: Projects become folders 📂 ✨