🔍 Decode NFT community dynamics, then let a CTO guide you through Web3 tech leadership. 🚀🌐
Today's Agenda...
- Uncover the secrets of successful NFT community building with NfinityLabs' expert insights on community dynamics, engagement, and conversion.🌟🤝
- CTO Geoffrey Heckmann shares his strategies for leading Web3 tech teams.🗝️💻
⏰ Reading Time: 6 min
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Building Communities, Learning from Michelin 3xplorer Club project 🚀✨
Welcome to an exclusive edition where NfinityLabs unveils the secrets of community building through Michelin's NFT project, the Michelin 3xplorer Club !🌟
Explore the three pivotal phases – Acquisition, Retention, and Conversion – as we delve into the intriguing world of NFT projects 🎨🚀
Get ready for incredible insights ! 🌐💡
Phase 1: Acquisition
This phase is crucial. It's the moment to integrate your future community, and it's decisive for the project's progression: the more precise your communication and targeting, the more active and engaged your community will be. 😊 Depending on the type of project (artistic, gaming, utility...) and the location of your utilities or benefits (national, international, digital, or physical...), you will determine the best projects, communities, and partners to target.
Acquisition in a Web3 project is not a question of quantity but quality. Different methods to build a qualitative community:
- "Vampire Attack": 🦇 establish strong partnerships with recognized projects to gain support from their community.
- Rhythmic, clear, and transparent communication: 📢 a team actively present on Twitter and Discord to answer questions and interact with other projects/people.
- Funnel teaser strategy: 🚀 start with limited information, then gradually reveal more details.
- Discord AMAs & Twitter Spaces: 🎙️ establish direct contact with the community to build a connection, provide information, and receive feedback.
- KOLs & Influence: 🌐 carefully choose influencers and clearly define desired actions. Use a mix of major KOLs and micro-influencers with engaged communities.
Phase 2: Retention
Retention is the core of our strategy. Many projects succeed in acquisition but struggle to maintain their community's engagement. Once new members are acquired, it's crucial to implement activities and events to strengthen bonds and retain the community. Direct and regular interaction from the team with the community, ideally with frequent interactions from the founders, is essential.
Including the community in the project's development or direction is the best way to maintain an active engagement. 😊 Think of "Build in public," offer maximum transparency on the project's behind-the-scenes, and consider letting the community vote on certain ideas or decisions.
Ideas to effectively engage your community:
- Include the community in the iteration of project ideas through votes, feedback, and transparency on your development stages. 📊
- Animate the community with events like Game Nights, Movie Nights, Trivia... 🎮🎥
- Gamify engagement (only before mint): use tools like Zealy to gamify interactions with your social networks and within your community. 🕹️
- Organize small contests to win WL or Allowlist: Art Contest, Food Contest, Dev Contest, puzzles, gamified Metaverse experiences... 🎨🍔💻 Transparent and regular communication is crucial to create an environment where each member feels valued and heard. 🌐🗣️
Phase 3: Conversion
The conversion of members into passionate ambassadors is a key step. A converted member is one who will "mint" (purchase) and invest in the project by supporting the team and sharing information about the project.
This step is natural if the Acquisition and Retention phases are well-executed, but it also requires careful attention. Identify the 100 or 200 most active profiles supporting the project, and establish connections with them to ensure their support.
For this, you can:
- Showcase these members within the community for their assistance.🌟
- Find ways to reward their support. 🎁
- Take into account their ideas and suggestions.💡
Developing a project and building a Web3 community doesn't stop there, but this information should provide you with a solid foundation to start.
Conclusion
NfinityLabs' journey into Web3 has been both a technological exploration and a human adventure. Our three-phase strategy - acquisition, retention, and conversion - has proven its effectiveness in establishing strong and engaged communities. 🚀
Discover Nfinitylabs and participate within one of their communities ! 🌐
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Cracking the Code: CTO's Blueprint for Leading a Web3 Tech Team! 🗝️🌐
Geoffrey, the seasoned CTO of Capsule Corp. Labs (Ternoa Ecosystem), provides concise yet powerful insights into technical leadership for Web3. Explore his four dynamic strategies for propelling development teams.
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Geoffrey Heckmannn - CTO of Capsule Corp. Labs
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1- In-depth Understanding of Web3 🌐
Understand how technologies work, know the different blockchains, the ecosystem, major projects, and technical principles. This relates to another point : being inspiring and knowing what you're talking about is crucial for managing tech people.The manager is the final decision-maker, relying on others' skills if they don't know a specific point. But knowledge of the domain is so important for decision-making and gaining respect from teams who won't want to work, or at least not effectively, for someone who makes decisions without knowing anything.
2- Excellent Communication 🗣️
Make stakeholders understand the ins and outs of projects, what the stakes are, what the goal is, etc. Good communication also allows quickly addressing and resolving potential problems before they escalate. The same goes for managing sprint timelines.
3- Identifying Each Person's Talents and Providing Opportunities for Progress 🌱
Stagnation can be a source of frustration for developers. Having the opportunity to learn new things, apply them, progress are very rewarding for them. Link this to everyone's talents for super productivity and an engaged team.A simple way to offer your developers the opportunity to progress is to take 30 minutes to give them feedback after a code review.
How to give a powerful feedback after a code review ?
Chain reaction presents the 4-step feedback method for giving value-added feedback. It's important to always let your developer speak first, so that he can take a step back from his work himself.
Want to go further ?
Chain reaction also suggests using this skills matrix, which you can download and modify to suit your project perfectly. It's an excellent way to take time out with your team to define individual improvement actions, and also to collectively identify skills that are not being mastered by enough people.
4- Implementing Review/Testing Processes 🕵️♀️
Often rushed, but in Web3, a mistake can be the death of a project or lost funds. Having rigor in data security/confidentiality is necessary.
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🎄🎄The Chain Reaction team wishes you all the best for the end of the year, and looks forward to seeing you on Wednesday January 3 for the next edition. 🎄🎄
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Disclaimer : The goal of this newsletter is to inform and produce content related to management in the world of Web3. It is not investment advice. Investments in crypto-assets and NFTs are risky and can result in the loss of your entire capital. Always conduct your own research and exercise caution.
