You may have seen the recent controversy around ArtGobblers where crypto/NFT influencers were criticized for getting “undeserved” whitelists (WL). Plenty of ink has been shed on why people deserved to be on the WL, and on the ethics of being an NFT influencer. It’s easy to paint NFT influencers as the villains of the story but that would be a gross oversimplification and a misunderstanding of how marketing works in the digital era. If the crypto/NFT space intends to move into the mainstream, we have to recognize the vital role that influencers play in the NFT ecosystem.

What is marketing and why does it matter in the NFT space?

At its heart, marketing is about getting to know and building a relationship with the general public. Traditional marketing is consumer driven. Phil Knight, co-founder of Nike, shared this insight: “[W]hile technology is still important, the consumer has to lead innovation. We have to innovate for a specific reason, and that reason comes from the market. Otherwise, we’ll end up making museum pieces.”

In the digital world, marketing is as much consumer driven as it is technologically-driven. The introduction of the internet drastically changed how marketing worked in a digital world. The internet made it easier for people to connect with their desired “niches” or subcultures. The rise of crowdculture “change[d] the rules of branding–which techniques work and which do not.” In the digital world, people want to connect with a person, not a corporation.

NFT and Twitter influencers are experts in creating and growing a “niche” audience. More often than not, marketing is as much storytelling as it is product design and functionality. Good marketing taps into unconscious and universal emotions. Great marketers are able to identify subcultures and successfully integrate aspects of those subcultures into the mainstream. They do this by building relationships with the brand and its potential consumers.

And NFT influencers are the most effective marketers in the digital world. They raise the visibility of NFT collections while building a public-facing relationship with their followers. Just like in traditional marketing where advertisements are deliberately crafted to evoke strong emotions, in the digital space, influencers work hard to connect with their audience. Just like IRL interactions, people on the internet are incredibly perceptive and sensitive to inauthenticity. Successful NFT influencers are aware of walking the tight line between being knowledgeable and funny/approachable.

In its current state, Web3 is a subculture. But not for long. If the recent NFT adoption on Reddit and Instagram signal anything, it’s clear that the Web3 subculture is well-positioned to enter the mainstream market. In fact, despite being in a bear market, there are plenty of Web3 builders and investors in the space, with traditional Web2 companies eyeing various ways to integrate and enter the NFT space. And an NFT influencer is the ideal person for bridging the two.

Why we NEED NFT Influencers

In this context, NFT influencers serve multiple functions: as navigators; as early adopters; and, as cultural innovators. They help onboard newcomers who are interested in learning about Web3 but who may find the ecosystem and lingo difficult to interpret. As early adopters, they are able to provide curated or alpha content to their followers. This is particularly important, because even to this day, data asymmetry is rampant in the space. NFT influencers work to build an emotional tie and earn the trust of their followers because they too are building a personal brand. As cultural innovators, NFT influencers (re)create and (re)shape the subculture by developing specific lingo, inside jokes (through shitposting & memes), curating specific aesthetics, and espousing certain values.

And their influence can be powerful. Take a look at Art Gobblers as an example: when an influencer’s interest is genuine, it increases visibility which, in turn, will increase demand for the Collection. Weeks leading up to the launch, there were influencers talking about participating in a closed door experiment with Paradigm and the Art Gobblers tokenomics. With artists at the center of their narrative, Art Gobblers gave out WL to artist focused influencers. All of this definitely caught the eye of folks on Twitter. Authentic interest is contagious and will grab people’s attention for a long time. This can generate hype for the collection months before its launch. And it definitely did for Art Gobblers. With double digit floor price at launch, and being the word of Twitter town for weeks, Art Gobblers had an impressive launch, despite today’s fast-paced and bear-market news landscape.

NFT Collections need to tap into cultural branding (i.e., understanding how to subvert conventions to champion new ideologies that are meaningful to customers). Who would be better positioned to articulate new ideologies than NFT influencers who are attuned to the unconscious needs or desires of their followers? Following NFT influencers can help Collections stay ahead of trends and target up-and-coming crowd cultures.

NFT Influencers can help a collection stand out from its competitors through branding. In fact, Collection would even do well to choose influencers who can evoke strong emotions from their followers. These feelings are often aspirational (i.e., wanting to emulate a specific lifestyle, or desire to achieve a similar rags-to-riches narrative). As is standard practice in traditional marketing, the NFT Collection should do their due diligence to vet influencers before working with them. NFT influencers may be able to provide specific messaging around the Collection that resonates with their followers and/or they may also play a role in shaping the community of NFT holders.

And the best part? NFT influencers have a self-interest to behave in good faith; otherwise, they risk tarnishing their own personal brand. Influencers who act in bad faith – for example, those known to promote ponzi schemes or consistently use their followers as exit liquidity – will be weeded out eventually. Without the trust of their followers, they no longer have a personal brand to rely on. Trust, once broken, is difficult to repair. The wrath of the general public is another reason why NFT influencers generally behave in good faith in the long term.

It’s easy to hate on NFT influencers but it’s time we recognize their contributions to the Web3 and NFT space. For newcomers and potential buyers, they serve as a guide who shares information about upcoming trends or NFT collections. For NFT collections, they can support brand-building and identifying customer segments. In many ways, NFT influencers are doing the work of an entire marketing team by creating a brand and a relationship with their audience. And, let’s not forget that they are also responsible for creating and sustaining a community of people who are enthusiastic about Web3. NFT influencers make this work look easy; we might even say that they’re a victim of their own success. Their contributions are vital to the Web3/crypto/NFT space. Make no mistake: their bags are well-earned.

You may have seen the recent controversy around ArtGobblers where crypto/NFT influencers were criticized for getting “undeserved” whitelists (WL). Plenty of ink has been shed on why people deserved to be on the WL, and on the ethics of being an NFT influencer. It’s easy to paint NFT influencers as the villains of the story but that would be a gross oversimplification and a misunderstanding of how marketing works in the digital era. If the crypto/NFT space intends to move into the mainstream, we have to recognize the vital role that influencers play in the NFT ecosystem.

What is marketing and why does it matter in the NFT space?

At its heart, marketing is about getting to know and building a relationship with the general public. Traditional marketing is consumer driven. Phil Knight, co-founder of Nike, shared this insight: “[W]hile technology is still important, the consumer has to lead innovation. We have to innovate for a specific reason, and that reason comes from the market. Otherwise, we’ll end up making museum pieces.”

In the digital world, marketing is as much consumer driven as it is technologically-driven. The introduction of the internet drastically changed how marketing worked in a digital world. The internet made it easier for people to connect with their desired “niches” or subcultures. The rise of crowdculture “change[d] the rules of branding–which techniques work and which do not.” In the digital world, people want to connect with a person, not a corporation.

NFT and Twitter influencers are experts in creating and growing a “niche” audience. More often than not, marketing is as much storytelling as it is product design and functionality. Good marketing taps into unconscious and universal emotions. Great marketers are able to identify subcultures and successfully integrate aspects of those subcultures into the mainstream. They do this by building relationships with the brand and its potential consumers.

And NFT influencers are the most effective marketers in the digital world. They raise the visibility of NFT collections while building a public-facing relationship with their followers. Just like in traditional marketing where advertisements are deliberately crafted to evoke strong emotions, in the digital space, influencers work hard to connect with their audience. Just like IRL interactions, people on the internet are incredibly perceptive and sensitive to inauthenticity. Successful NFT influencers are aware of walking the tight line between being knowledgeable and funny/approachable.

In its current state, Web3 is a subculture. But not for long. If the recent NFT adoption on Reddit and Instagram signal anything, it’s clear that the Web3 subculture is well-positioned to enter the mainstream market. In fact, despite being in a bear market, there are plenty of Web3 builders and investors in the space, with traditional Web2 companies eyeing various ways to integrate and enter the NFT space. And an NFT influencer is the ideal person for bridging the two.

Why we NEED NFT Influencers

In this context, NFT influencers serve multiple functions: as navigators; as early adopters; and, as cultural innovators. They help onboard newcomers who are interested in learning about Web3 but who may find the ecosystem and lingo difficult to interpret. As early adopters, they are able to provide curated or alpha content to their followers. This is particularly important, because even to this day, data asymmetry is rampant in the space. NFT influencers work to build an emotional tie and earn the trust of their followers because they too are building a personal brand. As cultural innovators, NFT influencers (re)create and (re)shape the subculture by developing specific lingo, inside jokes (through shitposting & memes), curating specific aesthetics, and espousing certain values.

And their influence can be powerful. Take a look at Art Gobblers as an example: when an influencer’s interest is genuine, it increases visibility which, in turn, will increase demand for the Collection. Weeks leading up to the launch, there were influencers talking about participating in a closed door experiment with Paradigm and the Art Gobblers tokenomics. With artists at the center of their narrative, Art Gobblers gave out WL to artist focused influencers. All of this definitely caught the eye of folks on Twitter. Authentic interest is contagious and will grab people’s attention for a long time. This can generate hype for the collection months before its launch. And it definitely did for Art Gobblers. With double digit floor price at launch, and being the word of Twitter town for weeks, Art Gobblers had an impressive launch, despite today’s fast-paced and bear-market news landscape.

NFT Collections need to tap into cultural branding (i.e., understanding how to subvert conventions to champion new ideologies that are meaningful to customers). Who would be better positioned to articulate new ideologies than NFT influencers who are attuned to the unconscious needs or desires of their followers? Following NFT influencers can help Collections stay ahead of trends and target up-and-coming crowd cultures.

NFT Influencers can help a collection stand out from its competitors through branding. In fact, Collection would even do well to choose influencers who can evoke strong emotions from their followers. These feelings are often aspirational (i.e., wanting to emulate a specific lifestyle, or desire to achieve a similar rags-to-riches narrative). As is standard practice in traditional marketing, the NFT Collection should do their due diligence to vet influencers before working with them. NFT influencers may be able to provide specific messaging around the Collection that resonates with their followers and/or they may also play a role in shaping the community of NFT holders.

And the best part? NFT influencers have a self-interest to behave in good faith; otherwise, they risk tarnishing their own personal brand. Influencers who act in bad faith – for example, those known to promote ponzi schemes or consistently use their followers as exit liquidity – will be weeded out eventually. Without the trust of their followers, they no longer have a personal brand to rely on. Trust, once broken, is difficult to repair. The wrath of the general public is another reason why NFT influencers generally behave in good faith in the long term.

It’s easy to hate on NFT influencers but it’s time we recognize their contributions to the Web3 and NFT space. For newcomers and potential buyers, they serve as a guide who shares information about upcoming trends or NFT collections. For NFT collections, they can support brand-building and identifying customer segments. In many ways, NFT influencers are doing the work of an entire marketing team by creating a brand and a relationship with their audience. And, let’s not forget that they are also responsible for creating and sustaining a community of people who are enthusiastic about Web3. NFT influencers make this work look easy; we might even say that they’re a victim of their own success. Their contributions are vital to the Web3/crypto/NFT space. Make no mistake: their bags are well-earned.