Communities are not built around JPEGs


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Below is a guest post from Nuvo co-founder Carla Wei.

The fascination of NFTs has captured the imagination of people around the world, ushering in a new era of digital creativity and entrepreneurship. Image may be the defining factor, but visual appeal isn’t the only driving force behind NFT’s success. Rather, it is the sense of community they created that has led to these JPEGs’ enduring appeal and relevance.

We’ve all seen countless NFT communities come and go, but the ones that have survived are those focused on providing experiences and a sense of belonging. Even if community building is the toughest challenge, especially for an emerging digital culture, Web3 technologies are the right tools to reach a wider audience.

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Many were drawn to NFT after Beeple sold for $69 million at Christie’s, the world’s leading arts and luxury goods auction house.

Creators saw NFTs as a unique opportunity to monetize and share their creations with a global audience, but what is truly remarkable is the community that has emerged around NFTs. NFTs have created a sense of belonging in a world where physical distance is no longer a barrier, connecting people with shared passions and interests.

It is the communities we build and the values ​​we share that ultimately determine the longevity and relevance of these digital cultures.

Art is not important, but it can play an important role in the values ​​that the community holds dear.The art created by NFT projects can reflect the common interests, beliefs, and aspirations of the community. can. It is a visual representation of your community and a source of inspiration and motivation for your members. CryptoPunks’ pixelated art style, which once reflected the playful and irreverent spirit of his emerging NFT culture, now represents the story of the first breakthrough in original blockchain art.

lack of affiliation

If NFTs are just the technology that enables and boosts digital communities, we can see how NFTs succeed and fail for the same reasons as ‘traditional’ communities. Communities, NFT or not, commonly fail due to lack of engagement and belonging. Successful ones thrive thanks to recognition, reward, and shared purpose among members.

Even if the potential for financial gain may motivate new members to step in, finding the right people willing to join the project for non-financial gains is critical to long-term success. be the key..

Without these elements, members are discouraged from participating in and dedicating their time to the success of the community. Luckily, transparency and financial alignment between founders and members is very easy to leverage on blockchain.

Enhanced decentralized coordination

NFT communities have distinct advantages over traditional communities. Unparalleled transparency, financial alignment and member rewards found nowhere else.

I don’t know if it’s the spirit of Web3 that drives a more engaged community from day one, but it’s clear that blockchain is breaking down barriers between communities and brands. The way blockchain tracks contributions, gives legitimacy to owners to coordinate events and activities, and builds businesses on top of original IP is groundbreaking for our thinking about community building. is becoming a thing.

Coordination on the blockchain offers an unprecedented level of flexibility, trust and inclusiveness, allowing decisions to be made directly by members rather than central bodies. This participatory approach leads to a more agile and transparent decision-making process that benefits all involved. Furthermore, community governance on the blockchain is highly resistant to manipulation from outside, ensuring fairness, especially when it comes to voting and rule compliance.

In these respects, community governance and coordination on blockchain opens up a world of opportunities in terms of secure collaboration between members and projects. We still have a lot to learn, but enabling community members to contribute to the success of the project has been key to the success of NFT projects so far.

After all, there must be a reason Starbucks, Nike, Adidas, and many other established brands are experimenting with NFTs.

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