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Technology, especially in the blockchain space is moving at a speed that makes it impossible to keep up.
You’ll go crazy trying to stay on top of every trend and innovation.
But it is important to know the space and understand why certain projects are having success.
That’s why I’m going to show you how some NFT projects are selling out even in this slow market. And what you can learn from them.
By showing you pieces of the NFT landscape that are trending, I hope to give you inspiration, not make you second-guess yourself or your own project.
There are still many ways to have success and infinite possibilities that haven't even been thought of yet.
As of this writing, the flavor of the day is Culture based NFT communities.
In their Medium article about high context NFT projects, Gesso Labs points out that** the NFTs that are breaking out **during the bear market have something in common, they focus on high context storytelling and community relationship building instead of whitelists and transactional relationships.
“The difference between these two approaches [high or low context] boils down to how project leaders create a sense of identity for their community. Low context projects focus on transactional relationships with holders by offering roadmap disclosures and whitelistaccess to other drops. While this might work well at launch-time, it often fails to attract loyal community members.”
If you’re not familiar with high context (culture-based) NFTs, here are some recent examples:
Notice how some of these projects don’t even have a website. Some of these communities are telling stories, playing games, and building projects together right on Twitter. And most are free mints.
The recent NFT downturn reminds me of what happened to Web2 marketers when Google raised their ad costs so high that selling online was no longer profitable.
Millions of online businesses closed for good.
The survivors had to come up with a completely new model for making their online businesses work.
And now, you need a new model to make your NFT community a success.
Many Crypto projects have two coins. One is for investing and one is a social reward coin, for rewarding the community (think of it as perks).
**You can make two NFTs. The free one on Polygon is your social NFT. **It can be a trial membership to your community.
A fun way to easily onboard people for no cost.
By giving away an NFT, you have given a gift, and the law of reciprocity will make the holder more open to your invitations to engage with your community.
When Google decided to raise its prices overnight and cut out all the small online marketers, some entrepreneurs found a way around it. Most didn’t and went back to McDonald's.
This hit by Google sparked the invention of web sales funnels.
The web funnel made it possible for smart marketers to pay Google’s high price because even if they broke even or lost money on the initial sale, the web funnel would transform these leads into long-term customers, and then into loyal repeat buyers.
So instead of paying for a click and the customer buys something and it’s over. You pay for a click and the customer gives you his email for something free, like a training video or digital book.
Now that you have his email, you can continue to email him, providing valuable insights, and showing the growth of your business and what he is missing out on.
Eventually, that person will buy and you will sell him many times instead of just once.
During this temporary downturn in the NFT market,** why not use a similar method for your Project? Create your own Web3 marketing funnel.**
To get leads, instead of giving a free e-book you can give a free NFT on Polygon. If the person receiving it is new to NFTs, this will be a great way for them to learn how to create a Metamask. If they make a mistake, no worries. It was free anyway.
Use these free gift NFTs to be the spark that ignites your community. Once someone is a part of your project and you become familiar, it is easier to sell them future NFTs or upsell them to NFTs with more rarity, deeper community access, and utility.
It’s important to decide what type of project you have. **Is your project low or high context? Or a hybrid of both? **Are you motivating members by money and giveaways or storytelling and connection?
Right now, **culture-based (high context) NFTs are succeeding in the market downturn **and are often released as free mints.
Doing a free mint does not mean everyone works for free. You can take inspiration from top web2 online marketers and use your free mint as a springboard to growing a lasting and loyal community.
A community ready to buy more over their lifetime to support your vision.
*As with all marketing of NFTs, everything starts with your Twitter profile. Having ****a weak or fake-looking Twitter account is an instant turn-off ****for NFT collectors and community members. To *start growing your Twitter account quickly and organically, please reach out to me at nftpump.io.
Thank you for reading
Josh
Technology, especially in the blockchain space is moving at a speed that makes it impossible to keep up.
You’ll go crazy trying to stay on top of every trend and innovation.
But it is important to know the space and understand why certain projects are having success.
That’s why I’m going to show you how some NFT projects are selling out even in this slow market. And what you can learn from them.
By showing you pieces of the NFT landscape that are trending, I hope to give you inspiration, not make you second-guess yourself or your own project.
There are still many ways to have success and infinite possibilities that haven't even been thought of yet.
As of this writing, the flavor of the day is Culture based NFT communities.
In their Medium article about high context NFT projects, Gesso Labs points out that** the NFTs that are breaking out **during the bear market have something in common, they focus on high context storytelling and community relationship building instead of whitelists and transactional relationships.
“The difference between these two approaches [high or low context] boils down to how project leaders create a sense of identity for their community. Low context projects focus on transactional relationships with holders by offering roadmap disclosures and whitelistaccess to other drops. While this might work well at launch-time, it often fails to attract loyal community members.”
If you’re not familiar with high context (culture-based) NFTs, here are some recent examples:
Notice how some of these projects don’t even have a website. Some of these communities are telling stories, playing games, and building projects together right on Twitter. And most are free mints.
The recent NFT downturn reminds me of what happened to Web2 marketers when Google raised their ad costs so high that selling online was no longer profitable.
Millions of online businesses closed for good.
The survivors had to come up with a completely new model for making their online businesses work.
And now, you need a new model to make your NFT community a success.
Many Crypto projects have two coins. One is for investing and one is a social reward coin, for rewarding the community (think of it as perks).
**You can make two NFTs. The free one on Polygon is your social NFT. **It can be a trial membership to your community.
A fun way to easily onboard people for no cost.
By giving away an NFT, you have given a gift, and the law of reciprocity will make the holder more open to your invitations to engage with your community.
When Google decided to raise its prices overnight and cut out all the small online marketers, some entrepreneurs found a way around it. Most didn’t and went back to McDonald's.
This hit by Google sparked the invention of web sales funnels.
The web funnel made it possible for smart marketers to pay Google’s high price because even if they broke even or lost money on the initial sale, the web funnel would transform these leads into long-term customers, and then into loyal repeat buyers.
So instead of paying for a click and the customer buys something and it’s over. You pay for a click and the customer gives you his email for something free, like a training video or digital book.
Now that you have his email, you can continue to email him, providing valuable insights, and showing the growth of your business and what he is missing out on.
Eventually, that person will buy and you will sell him many times instead of just once.
During this temporary downturn in the NFT market,** why not use a similar method for your Project? Create your own Web3 marketing funnel.**
To get leads, instead of giving a free e-book you can give a free NFT on Polygon. If the person receiving it is new to NFTs, this will be a great way for them to learn how to create a Metamask. If they make a mistake, no worries. It was free anyway.
Use these free gift NFTs to be the spark that ignites your community. Once someone is a part of your project and you become familiar, it is easier to sell them future NFTs or upsell them to NFTs with more rarity, deeper community access, and utility.
It’s important to decide what type of project you have. **Is your project low or high context? Or a hybrid of both? **Are you motivating members by money and giveaways or storytelling and connection?
Right now, **culture-based (high context) NFTs are succeeding in the market downturn **and are often released as free mints.
Doing a free mint does not mean everyone works for free. You can take inspiration from top web2 online marketers and use your free mint as a springboard to growing a lasting and loyal community.
A community ready to buy more over their lifetime to support your vision.
*As with all marketing of NFTs, everything starts with your Twitter profile. Having ****a weak or fake-looking Twitter account is an instant turn-off ****for NFT collectors and community members. To *start growing your Twitter account quickly and organically, please reach out to me at nftpump.io.
Thank you for reading
Josh
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