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There’s a lot of fear in the bear market.
But things are better than you think 👇 🧵
There are 4 MILLION monthly downloads for the "ethers" package used by web3 devs to develop dapps.
(Up from 1M/month in Jan 2021)
There are 2.4M monthly downloads for the competing web3 package.
i.e – devs are still developing.
There are ~7.5M transactions taking place on the Ethereum network every week.
There have been over 1 BILLION transactions on @ethereum since 2020.
There are over 51.3 MILLION smart contracts that have been created on @ethereum alone.
+ Tens of millions on other chains.
+ Tens of millions in development.
VCs invested $33 BILLION into web3 startups in 2021 alone.
And will probably do even more in 2022.
There’s a long lead time for such investments – these companies & networks are still being built.
The next few years should be fun.
Uniswap has settled over $1 TRILLION worth of swaps since its inception.
Even right now, there are still ~250k monthly active users on @uniswap swapping tokens.
@LooksRare and @opensea have EACH done over $20 BILLION worth of NFT sales volume in 2022.
Even last month (in the midst of a bear market):
• OpenSea did $500M+
• LooksRare did $220M+
Total Crypto Market Cap is ~$1T
– that’s 10x more than 5 years ago.
Total Value Locked (TVL) in DeFi is ~$60B
– that’s 10x more than 2 years ago
– and 100x more than 3 years ago.
According to the Gartner Hype Cycle, it seems we are currently in the trough of disillusionment.
I’m encouraging you to see the slope of enlightenment.https://t.co/PHX4HYHp2O
I’m not an irrational optimist. I’ve explored what could kill crypto before.https://t.co/3JHEjQr77M
I’ve even dared to question the narratives behind Bitcoin.https://t.co/UOWtFIcXDx
But now, I’m encouraging you to zoom out – things are better than you think.
Devs are still building, the networks are still being used.https://t.co/8zmJCkkGsC
You’re a part of the most significant financial revolution of the century – enjoy the journey. pic.twitter.com/1HgBS7UBLm
1/ Web3 marketing experts do not exist.
Everybody is experimenting.
What works for them, may not work for you.
Here’s a list of successful Web3 marketing tactics for brands getting into NFTs. 🧵
2/ Web3 marketing doesn’t exist without Web2 marketing.
3/ Web2: GTM stakeholder = customers, acquired via sales & marketing.
Web3: GTM stakeholder = customers, devs, investors, & partners (the community), acquired via tokens & community incentives.
Let’s dive into how brands successfully go to market with NFT projects in Web3.
4/ The age of speculation is waning. To be successful, brands need to consider what real utility and benefits they’re planning on providing.
The term utility gets thrown around a lot by new projects.
NFT utility = the benefits and experiences that are unlocked using NFTs.
5/ We’re talking about NFT utility that adds value to your community’s lives.
Examples:
• Access to a top-notch membership-only club
• Rewards such as airdrops or merch
• Investment opportunities
• Tickets to physical and digital events
• Entry ticket to IRL facilities
7/ Find out what your people care about and write content that has value for them.
“I am the community and the community is me.”
This is a process of experimentation. You need to find audience-message fit in order to grow your community.
8/ Discover where your people hang out online.
Know who the community is meant for. Who belongs and who doesn’t?
Create an uber-specific user persona and use the right platforms to engage with your community.
Experiment with different content in different formats.
9/ Double down on the things that bring you engagement. Lose the ones that don’t bring any results.
You will start speaking the language of the community.
Once you understand how they think, you will also understand what experiences they desire.https://t.co/YrX1ijK3NJ
10/ It’s important to have the smoothest onboarding experience you can offer.
For your first 100 members, it’s okay to do things that don’t scale.https://t.co/r8VFIt8FgM
11/ An example of starting small is sending out personal invitations.
Personal invitations will make new members feel special. They will feel like they belong in this community and will be more open to contributing.
12/ You have to be intentional and make it clear what you want new members to do when they join your community.https://t.co/PuQMfelVCu
13/ To create a sense of belonging, think of the different roles or rituals you want people to have in your community.
Make sure there are rewards for members that want to create value for your project.
Encourage co-creation.
14/ With NFTs, the winning marketing tactics are changing every week.
Everybody’s experimenting.
Nobody knows exactly what’s going to work. And not every tactic works for every project.
But that’s what makes Web3 marketing so much fun!
15/ Here are six marketing tactics used by successful NFT projects:
1. Use airdrops to distribute tokens to users to reward early users or other behaviour you want to incentivize.
2. Organize content creation contests with rewards for community members to drive virality.
16/ 3. Give away whitelist spots for your NFT drop, or collaborate with another Twitter user and let them give away the spots.
4. Focus on scarcity. Meaning, have at least more followers than your collection supply before you drop.
17/ 5. Build connections with influencers & offer a stake. In exchange, they can talk about your NFT or RT one of your tweets. Bonus points for a thread.
6. Weekly Twitter Spaces where the core team shares valuable information with the community. Let members take the stage too.
18/ There are many ways to build a community for your NFT project, and there is no one-size-fits-all strategy.
You have to experiment, find audience-message fit and double down on what grows your NFT community.
Once there’s a strong enough community, you must keep them hooked.
