Thread
I used to think community was just a cringey buzzword.
But, now I think it's everything.
Here's why...
But, now I think it's everything.
Here's why...
Community is the atomic utility.
It affects every single aspect of an NFT project.
Including...
It affects every single aspect of an NFT project.
Including...
1. Innovation
A passionate community can help create faster and richer innovations.
@Passytee leverages his community to generate new ideas for his web3 games.
A passionate community can help create faster and richer innovations.
@Passytee leverages his community to generate new ideas for his web3 games.
Pas also leverages his community to get early feedback on what he's building.
This help him avoid building things nobody cares about.
This help him avoid building things nobody cares about.
2. Holder Retention
If people create lifelong friendships or business connections through your NFT community...
Then they'll never want to leave.
If people create lifelong friendships or business connections through your NFT community...
Then they'll never want to leave.
3. Networking opportunities
Having a community to network with is a highly scalable value prop for NFTs.
As the floor price increases so does the value of the networking opps.
Rich people buy in at the higher price & people who held since mint become more desirable to talk to.
Having a community to network with is a highly scalable value prop for NFTs.
As the floor price increases so does the value of the networking opps.
Rich people buy in at the higher price & people who held since mint become more desirable to talk to.
4. Marketing
User generated content is a fast and scalable way to grow a startup.
Having thousands of people to onboard and educate the market on your startups value proposition is extremely valuable.
User generated content is a fast and scalable way to grow a startup.
Having thousands of people to onboard and educate the market on your startups value proposition is extremely valuable.
5. Word of mouth growth
Most people buy NFTs because someone they trust recommended it.
This referral can be from a:
• Friend
• Group chat
• Influencer
Most people buy NFTs because someone they trust recommended it.
This referral can be from a:
• Friend
• Group chat
• Influencer
6. Customer service
A web3 startup with a great community can have them help with customer service.
Which:
• Is scalable
• Reduces customer support costs
• Is an accessible access touch point
A web3 startup with a great community can have them help with customer service.
Which:
• Is scalable
• Reduces customer support costs
• Is an accessible access touch point
7. Talent recruitment
An amazing community will help attract top talent to work for your startup.
The people in your community will apply & will also help promote your job listing.
DeLabs job listing got over 500k views because of their community's support
An amazing community will help attract top talent to work for your startup.
The people in your community will apply & will also help promote your job listing.
DeLabs job listing got over 500k views because of their community's support
Conclusion:
A strong community helps elevate EVERY single aspect of an NFT project.
So, never underestimate what an army of thousands of people under an aligned vision can do.
A strong community helps elevate EVERY single aspect of an NFT project.
So, never underestimate what an army of thousands of people under an aligned vision can do.
That's it!
Each week I spend 20 hours studying an NFT founder or startup and I write a thread summarizing what I learn.
Follow me for more threads like this.
Each week I spend 20 hours studying an NFT founder or startup and I write a thread summarizing what I learn.
Follow me for more threads like this.
p.s. thank you to @liamherbst_ for your help on this thread 🫡
