NFTs as a Tool for Communities

NFTs give creators a chance to create a community at the snap of a finger.

In an article published by Cointelegraph, artist Danielle Weber talked about the true benefits of NFT technology. Not only does it cut out the distribution middle man for artists, but they put the artist at the forefront of the project.

Now, we throw around the term “community” ad nauseam in the NFT space. It’s the buzzword that helps projects mint and is often used as a crutch for projects that are nothing more than a profile picture. Projects with little substance use their “community” to give their project value; those with substance build a community alongside their project. But, true artists leveraging NFT tech to build communities are seeing a cycle they’ve never seen before.

Weber says:

“It’s a beautiful cycle that we’re seeing in this space. We are closely connected to our fans […] So we know what they want, and they motivate us to create work that is true to ourselves and true to our craft.”

Artists and collectors are using NFTs to become closer than ever.

What’s the Benefit of Connecting Fans to Artists?

Simply put, everyone wins. Fans and collectors feel more connected to what they buy. Artists are able to not only distribute their art to anyone in the world but also have a chance to create their own online ecosystem. They can continue to monetize this community by completing further deliverables.

In the traditional art industry, there was only one transaction between the two parties. Fans paid for the art the artists create, and they go their separate ways. Maybe the collector turns into a return customer. In Web3 art, the transaction doesn’t really end, or is endless. Fans from all over the world can instantly become a part of the artist’s community and continue to interact from there.

Fans join the artist’s Discord or interact on social media. It’s incredibly easy to see who is a part of an NFT community. Based on that fact, it’s easy for those community members to come together and create something bigger than themselves. NFTs open a whole new world for creators and collectors alike. But, for artists or projects to keep collectors’ attention, they need to continue to deliver further value.

NFT Projects That Reward NFT Communities

The most successful projects in the NFT space do two key things:

1. Cultivate a strong, dedicated community.
2. Reward that community when profits start to come in.

The projects that have perfected this are the ones that are successful in the NFT space. The most obvious example being Bored Ape Yacht Club. The project has continuously rewarded holders and has set the standard when it comes to rewarding communities. Airdrops include:

At this point, the minimum value of the Mutant Ape and Kennel Club airdrop combined is ~$100,000 USD. Again, that doesn’t even include $APE allocation. Staggering value for simply diamond handing an Ape. Watching the success Yuga Labs has seen from their strategies, most other projects have followed suit. Projects like:

  • Clone X
  • CryptoPunks
  • CyberKongz
  • PixelVault

are a few of the most successful projects that have airdropped further value to holders.

This is just the start of NFT communities and artists interacting with each other. This concept has only been around for a year in the NFT space, so the developments that continue to come from this will change the way we interact online.

NOTERemember always to do your research, make your own decisions, and invest in projects that interest you!

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