The only art project that stands a chance for success is that which can cultivate an online community. I believe this most in the NFT world, as projects earning the most tractions and transactions are NFTs focusing on smaller collections and narrative storytelling (often with a dose of humor). I suggest that in 2023 you'll still have winners here and there (like one-off collections that soared during the hype period of 2022) ; but for the most part, it's high-quality effort to build community that will be rewarded.
If this new investment vehicle uniquely requires the support of an associated community: what are the keys to creating one that's vigorous and loyal? Particularly because it's such a new form of investment, communities of enthusiasm and support play a significant role in the NFT space. Each community has its unique set of qualities, of course (such as exclusivity or membership), but what defines a truly strong one and how to create a successful NFT community yourself?
Curate (or Set a Vision)
It's critical to have an intention, vision and a plan for what you hope to accomplish with your NFT project. The “why” is the foundation, so identify your niche to make a project and its concepts stand out from the crowd. The project’s size and scale will depend on the scope of the project and financial structure, but there can be no community unless people believe in your ideas and find those ideas visually entiing, interesting and relatable. Successful NFT projects go beyond the art — they are about catering to a specific audience, evoking a specific emotion, and setting ETH prices your audience can afford.
Engage on Key Platforms
The majority of the NFT community is active on several platforms — Twitter, Instagram and Discord — and it’s critical to understand their differences (as well as not waste your time and resources on other platforms, such as Facebook).
Twitter is used for public communication with members of the community as well as outsiders who may be interested in learning about NFTs or joining in general discussion. Consider it a channel for encouraging people to interact with your content and experience what it's like to be a member of your community. The language used is more informal and memes play a big part in NFT Twitter. The more people engage, the better, and there are several strategies you can use to make them more involved with content, including giveaways, events or even just a simple click on the heart tool.
People express themselves publicly here and often set his/her profile photo as the lastest and favorite NFT purchased. It's also easy to grab the attention of key influencers, artists and collectors across the globe. Use all angles and tools of communication to your advantage - entice your followers with strong visuals, edited text and searchable hashtags.
Discord is used to communicate directly with your community — a real-time platform to convey information to its members, as well as a location where the community itself is formed. A good Discord community provides a seamless onboarding experience with quick access to important project and team information, and every one should have at least a "Welcome," "Official Links," "Announcements", and "FAQ" channel. People may also have additional questions regarding your project, so it's a great idea to set up a channel or a ticketing system using a Discord bot to assist them. But keep in mind that having too many channels might be exhausting, so keep them relevant. Less is more.
Additionally, consider thinking outside the box to explore what matches your vision and project objectives. For example, having an Instagram account to offer short updates or behind-the-scenes content from the team building the project is an excellent option. Both platforms provide great and unique AR capabilities as well, for developing and creating immersive experiences that can be integrated into your marketing and communication.
Create engaging events
Events, both online and in person, play an important role in building a strong NFT community. The idea is for individuals to interact in enjoyable ways with one another, because everyone wants to be a part of something bigger than themselves! Twitter Spaces is a great platform for hosting events such as weekly AMAs, and Discord also features a stage where you can host events.
An additional incentive to attend an event, one that's growing in use and application, is a Proof of Attendance Protocol, or POAP. A new way of keeping a record of life experiences, these are unique badges that are supported by a cryptographic record, and are also NFTs. You can give them away to those who attended events, and they are completely free to create.
AR experiences can both propel and transform your community's digital experience, and could fit neatly into your marketing strategies as well. You can perhaps give them an NFT or other gift as a reward for being a member of your organization like a club. You have the opportunity to create a whole new environment for members to explore.
As you gain traction in the digital space and expand your NFT project, be open to feedback (accolades and criticisms) and pay attention to what others have to say. Communicate at all times, even when worst-case scenarios happen. And keep creating so that your followers have someting to talk about - and collect.