Building Vibrant NFT Communities: Insights and Practical Tips from Blockchain Experts
Summary:
This article provides insights and practical advice from 12 experts of the Cointelegraph Innovation Circle for leaders of nonfungible token projects. The experts highlight the importance of maintaining authentic and regular engagement, creating a healthy community, valuing holder's opinions, developing unique experiences, showcasing hard work, offering unlockable features, consistently delivering value, fostering inclusivity, updating members about changes and prices, engaging on social media, and maintaining transparent communication. The importance of building trust, nurturing a sense of belonging, and delivering value consistently are underscored throughout the advice.
All individuals who are part of a group or community yearn for a sense of belonging, a connection that is unique and impactful. This couldn't be more true for communities that back nonfungible token enterprises. Community engagement isn't just about building camaraderie - a vibrant, active community not only delivers useful insights and loyal investors to NFT project leaders, but also adds to the project's hype, potentially escalating the value of investments. Through their own initiatives, these communities can even amplify the project’s ecosystem. NFT project leaders who diligently nurture such communities can create a beneficial circle of continuous support. A total of 12 experts from the Cointelegraph Innovation Circle provide practical, efficient advice to assist NFT project leaders in starting off strong, constructively involving their communities, and collaboratively thriving.
Link emotions genuinely:
The market is currently bearish, driven by a period of low liquidity. Strive to ensure that your NFTs truly resonate emotionally and aren't mere money-making schemes. The difference between a skilled artist's refined piece of art and a hastily hyped creation is obvious. Any blatant cash grabs will soon be discarded. – Zain Jaffer, Zain Ventures
Maintain frequent engagement:
Successful NFT projects keep engagement constant. Deliver exclusive content, hold community events, and welcome suggestions. Genuine and regular engagement fosters trust and keeps your community invested in the long-term vision of the project. – Tomer Warschauer Nuni, Kryptomon
Onboard active community managers:
Appoint community managers adept in people skills and fully aware of your NFT project's objectives. It's crucial they regularly interact with community members. While bots may be helpful, they can interfere with the human element of the interaction. Remember, members require ongoing attention and nurturing. – Irina Litchfield, Lumeria
Value holder’s opinions:
Effective communication with your community is vital but adding value from the start is key. This implies giving token governance. Ensure that NFT holders feel they can influence the decisions you make, through voting or other means. NFTs aren't governance tokens, but this does not stop you from considering your communities' inputs. – Jason Fernandes, AdLunam Inc.
Create distinctive creative experiences:
Consider hosting a digital masquerade ball where members wear unique NFT masks, their digital identities. As they engage in games, stories, and auctions, these masks become symbols of participation, enhancing continuous interaction. The engagement in an NFT community thrives on rhythm, creativity, and unique experiences. – Arvin Khamseh, SOLDOUT NFTs
Showcase effort:
Maintain a balance between short-term achievements and long-term goals. By sharing smaller victories with their communities, NFT projects can maintain consistent engagement and make their behind-the-scenes hard work visible, regardless of how groundbreaking it is. – Wolfgang Rückerl, ENT Technologies AG
Offer features that can be accessed over time:
Don’t just sell a digital asset; offer an experience. Use smart contracts to enable features like exclusive content, voting rights, and revenue sharing that can be accessed over time or under specific conditions. Keep your community involved in decision-making and always be transparent about your roadmap. The NFT is not the end but rather the starting point of a relationship. – Tiago Serôdio, Partisia Blockchain
Deliver value consistently:
To create a vibrant and inclusive community, deliver value consistently, maintain open communication and involve the community in decision-making processes. This promotes a sense of ownership and belonging. It’s crucial to share updates and announcements accurately to prevent misleading the community. – Anthony Georgiades, Pastel Network
Foster inclusivity:
For NFT projects, it's crucial to continuously deliver value beyond the initial purchase. Regularly release exclusive content, organize community events, and actively solicit feedback. Prioritize openness in project developments and cultivate an inclusive environment where community members feel valued and heard. An engaged community depends on trust, frequent interaction, and shared growth. – Erki Koldits, OÜ Popspot
Update members about changes and prices:
NFT communities require updates on current and future developments in their areas of interest. Since most members hold multiple NFTs from the same project, they wish to receive some predictions about the worth of their assets. Offering free giveaways also prove helpful in keeping the community engaged. – Abhishek Singh, Acknoledger
Regularly update and engage on social media:
Consistent communication with your community is important. Given the numerous past instances of rug pulls with NFT projects, sharing real-time updates on project progress, collaborations, and news is crucial. Regular engagement on platforms like social media and Discord ensures members stay involved and their concerns are addressed. Showcase receptivity to feedback and incorporate their suggestions when plausible. – Ayelet Noff, SlicedBrand
Communicate both positives and negatives:
Provide clear outlines of both positives and negatives. In case a planned activity is no longer scheduled (or vice versa), be honest. Constant communication is imperative for projects in the Web3 space in general as we all navigate and progress together. – Megan Nyvold, BingX
This article was issued through the Cointelegraph Innovation Circle, a peer-reviewed consortium of leaders and experts in the blockchain tech industry who are pioneering the future through strong networks, collaborative advantages, and thought leadership. These views may not necessarily align with those of Cointelegraph.
Published At
10/31/2023 4:00:00 PM
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