Be Everything on Algorand is a marketing strategy to super connect the entire web3 community to Algorand and NFT Space using NFTs. Algorand users will uncover the most exciting, beautiful NFTs with the most utility created by the best artists in the space while also using the best dapps in the Algorand space including NFT Space.
With less NFT adoption compared to other chains, the Algorand NFT ecosystem is in need of promotion that sparks greater engagement. As of January 2023, Algorand had 16.84 million active wallets but only 14,650 wallets have bought NFTs and 8,1653 wallets have created NFTs.. More than two million NFTs are minted on Algorand, generating a total of 437,132 individual sales worth 49 million ALGO (at a $0.25 USD per ALGO price, worth $12 million USD) [1]. Despite the significant numbers, similar-sized or even smaller chains are experiencing greater NFT adoption. Binance Smart Chain has a similar amount of active wallets at 16.9 active wallets but has 71x more NFTs minted (total of 142 million) and 27x NFT market cap (1.07 million BNB or $331 million) [2]. Cronos Chain (formerly Crypto.com) also has around two million NFTs minted but with only 113 thousand active wallets and a higher market cap at 314 million CRO or $25 million USD [3].
NFT Space aims to change this as a marketplace that enables discovery and community bonding. This marketing strategy envisions the “super user” artists and collectors and “super” dapps superfueling the adoption and engagement of Algorand NFTs. Using NFT Space to discover, create, and build community, an artist, collector, community, and partner dapp can be everything and anything.
- Increase the number of wallets connected to NFT Space by at least 75 percent
- Increase the number of NFTs liked and followed by 100 percent
The wider Algorand ecosystem should also benefit:
- Increase the percentage of Algorand active wallets with NFTs by 50 percent
- Increase the number of NFTs created on the Algorand chain by 50 percent
- Increase the number of active users on other chains who create Algorand wallets and use the Algorand blockchain for the first time
- Forge partnerships between Algorand Foundation, NFT Space, and dapps supporting Algorand in the key areas:
- Wallet
- Data analytics
- On-chain wallet-to-wallet chat
- NFT claims / airdrop
- NFT marketplace
- Increase usage of partner dapps by ten percent during the promotional periods
Ecosystem
Subject to adjust metric values
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Number of wallets connected to NFT Space
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Number of wallets connected to partner dapps
- Number of wallets with at least 0.05 ALGO (no bots or little interaction with chain)
- Number of wallets with at least 1 ALGO + 1 NFT or 10 transactions (some interaction with chain)
- Number of wallets with at least 10 ALGO or 3 NFTs or 30 transactions
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Number of NFTs created on NFT Space and on Algorand
- Number of NFTs sold within 15, 30, 60, 90 days of mint
- Number of NFTs with a like or follow on NFT Space within 15, 30, 60, 90 days of mint
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Number of NFTs sold
- Number of NFTs sold by a new creator
- Number of NFTs sold by an existing creator
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Number of formal partnerships made
Social Media
- Number of new followers on Twitter, LinkedIn, Instagram on NFT Space and partner dapps
- Number of new members in Discord of NFT Space and partner dapps
An artist? Collector? Educator? Developer? You can be everything and anything on Algorand and work with NFT Space. The campaigns aim to connect NFT Space to the entire ecosystem. Since NFT Space is a pre-seed company, it needs to focus on scaling marketing efforts. Each campaign task outlines how labor intensive it is and how to scale it.
Tools needed: Twitter, Discord, Instagram, LinkedIn, Zoom, Algorand Governance Platform, Google Forms or application/form software
Examples:
Exclusive NFT Bootcamps
In the music industry, top songwriters attend week-long camps sponsored by top record labels to compose songs for top singers. Top NFT artists from the Algorand and other blockchain ecosystems are invited to attend virtual and/or in-real life camps to learn more about the Algorand blockchain and create promotional NFTs for a major Algorand airdrop.
Selection Process NFT Space will invite top 5% of all artists on the marketplace to automatically attend the bootcamps. NFT Space can have their users vote on the selection criteria on the Algorand Governance Platform (i.e. number of followers, likes, searches, NFTs sold, etc.). This creates friendly competition from the existing Algorand artists to curate high-quality work and provides an additional engagement mechanism separate from buying NFTs for NFT collectors.
NFT artists from other blockchains and Algorand marketplaces such as AlgoxNFT and Rand Gallery can apply to the bootcamps using an application process hosted on the NFT Space website. Enabling artists from different ecosystems to attend will boost the credibility of NFT Space artists and assure the value of using the Algorand chain.
Bootcamp Example Structure
- Invite the top 250 or more NFTs artists on NFT Space to attend. Open an application call for an additional 250 or more artists in other ecosystems.
- Virtual bootcamps are hosted on Zoom and Discord. In-person bootcamps are hosted in conjunction with a major Algorand event such as Decipher.
- Select session topics:
- What is Algorand?
- What are the types of NFTs on Algorand? How to mint an NFT on Algorand.
- Success stories on selling NFTs on Algorand
- Building NFT communities on Algorand
- NFT Utility Tools
- Why launch a token vs. an NFT?
- After each bootcamp, Algorand expert judges will pick between 20-50 pieces of art as finalists. The selected finalist pieces will be used for the promotional NFT airdrops to Algorand and partner marketplace users and are selected for collection funding by partner venture capitalists.
Work Intensive: HIGH - A bootcamp requires at least a program manager to review applications, coordinate speakers, and provide on-going communication.
Scaling
- Ensure that it is virtual to accept more students
- Community selection of artists who can attend
- Hire bootcamp alumni to serve as program managers for subsequent bootcamps
- Re-post clips from bootcamp @ mentioning speakers on Youtube, Twitter, Instagram, and TikTok
- Post finalist projects @ mentioning winners on Twitter and Instagram
NFT Hackathons
Since most hackathons are focused on developers, upcoming artists do not have a community-based way to curate and earn recognition. NFT Space can host in no-code hackathons solely intended for the ideating, creation, and minting of Alogrand NFTs.
Examples of Prize Categories
- Best NFT PFP Collection Idea
- Most Creative Use of Ecosystem NFT Tools
- Best Gaming Collection
- Best NFT Membership
- Best Physical Goods Representation
- Digital Art, 3D Art, and Hand-drawn
- People’s Choice Awards
Prizes include flagship Algorand NFTs, NFT memberships to Algorand DAOs, free minting on NFT Space, and ALGO
Work Intensive: MEDIUM - Online hackathons are usually self-run except for learning workshops and winner selection and awards
Scaling
- Collect team info for distributing awards during submission process if they win
- Hire an existing Algorand community to host the hackathon
- Post finalist projects @ mentioning winners on Twitter and Instagram
Examples:
- Monthly, quarterly, and yearly spotlights on top artists or NFT collections on NFT Space posted on Twitter, LinkedIn, TikTok, and Instagram.
- Monthly, quarterly, and yearly spotlights on top NFT “whales” or collectors on NFT Space posted on Twitter, LinkedIn, TikTok, and Instagram. Partner with an Algorand notifications application to encourage users to sign up for notifications on the top NFT collectors’ wallet activity.
- Yearly virtual NFT Awards Show where Algorand users can nominate their favorite in each category. NFT Space users can vote for the best community-curated category. Example categories include:
- Best NFT Community
- Best Newly Launched NFT Collection
- NFT Collection with most utility
Example of a graphic of top artists with most sales on NFT Space in a given week:
Work Intensive: LESS - Can be totally scalable
Scaling
- Request NFT Space community to provide spotlight suggestions
- Develop automated lists based on community-generated criteria. Create a bounty to curate lists of top artists, collections, whales using data from Flipside Crypto
Art sees an average of 7.6 percent yearly return and does not experience the same volatile fluctuations as other investment types [4]. With its stability and high return, art can enable generational wealth. NFT Space paves the way for NFTs as the most equitable and fair investment type, one that is open to collectors of all socioeconomic backgrounds.
Tools Needed: NFT Space site, Twitter, Twitter Spaces, Discord, Youtube, multi-sig wallets
NFT Space can establish unique promotional sale days each week or day to make NFTs more affordable. Promotions are posted on NFT Space main page, user profile, and their social media including Twitter and Discord.
Examples:
No Transaction Fee Days allow users to purchase NFTs without paying for gas fees on Algorand.
Deal(s) of the Day promotions suggest flagship NFTs that have dropped from their floor price and/or NFT collections that are purposefully “on-sale” on the platform. Deal(s) of the Day can also segment between different floor prices to ensure users of different price segmentations can benefit.
NFT Bridge Investment Fund is an application-based program that helps underprivileged collectors purchase and invest in NFTs. NFT Space purchases and distributes flagship NFTs to selected collectors with the condition that the collectors cannot sell the NFT within six months and must be contributors to the NFT community for at least a year. NFTs are stored in an Algorand multi-sig wallet and transferred to the selected collectors’ main wallets after six months.
Work Intensive: LESS - MEDIUM - NFT Bridge Investment Fund would probably require a program manager
Scaling
- Set specific days that these promotional days will happen and automate all communication
A Twitter Spaces and/or Discord lecture series on how to collect, taught by the most popular collectors on NFT Space.
Example topics:
- How to Avoid Getting Rugged
- Security Tools to Avoid Scams
- Tools that Help You Collect
- Reasons to Buy and Sell NFTs
- How to Invest in NFTs Responsibily
Work Intensive: MEDIUM - An NFT Space team member would need to schedule lectures
Scaling
- NFT Space community can pitch topics in the Discord forum and topics with the most likes are invited to host a lecture.
NFT Space will airdrop the bootcamp-curated NFTs to new and existing users of partner dapps who do a specific NFT-related task. Promotions of high-quality dapps built on Algorand will showcase how exciting and easy-to-use the Algorand chain is, and generate awareness of NFT Space through existing users of other dapps. NFT Space benefits from cross-marketing with already established players in the space.
In each example, the partner dapp users must be an existing user or become a user on NFT Space during the promotion period to collect the airdrop.
Examples
- Users of Algorand wallet-to-wallet chat who chat with the artists from the bootcamps will receive an airdrop of an NFT from a bootcamp or hackathon-curated NFT
- Potential partners: Alty, chats on other chains but might be open to integrating with Algorand (Dialect, , Push Protocol, XMTP, Notifi.Network)
- Users of an Algorand analytics application or indexer who create queries about NFTs during the promotional period will receive an airdrop of a bootcamp or hackathon-curated NFT
- Potential Partners: Flipside Crypto, Algorand Foundation (using their indexer)
- X percent of users can claim an Algorand NFT on an Algorand whitelist NFT site during a promotional period
- Create a new wallet on an Algorand wallet and automatically get an NFT airdrop.
- Potential partners: Pera Wallet, Trust Wallet, Atomic Wallet
- Users can collect an Algorand gaming collectible in a blockchain game built on Algorand
- Potential partners: Cosmic Champs, Alchemon Alchecoin, AlgoSeas
- Users with airdropped Algorand NFTs can swap or trade their NFT for more or different Algorand NFTs
- Potential partners: Tinyman
- Display featured NFTs in a metaverse art gallery
- Potential partners: Netverse
Bringing awareness of Algorand NFTs to NFT enthusiasts and crypto natives on other chains can accelerate Algorand NFT adoption, as opposed to marketing to existing Algorand users who are already less interested in NFTs.
Examples
- Users on other chains of wallets that support Algorand will receive an in-wallet notification about the Algorand blockchain and airdrop of an Algorand NFT.
- Potential Partners: Trust Wallet
- Users who chat with any non-Algorand wallet about Algorand on a wallet-to-wallet blockchain will receive an NFT airdrop. The non-Algorand wallet will receive a claim link to receive an Algorand NFT sent their email address or chat
- Potential Partners: Dialect, Push Protocol, XMTP, Notifi.Network
- Users can collect an Algorand gaming collectible in a blockchain application
- Potential Partners: Axie Infinity, Splinterlands, Star Atlas
Work Intensive: HIGH - Dapp partnerships would require a dedicated staff member, usually a leadership member such as a co-founder. However, marketing dapp partnerships could also translate to development partnerships!
Scaling
- Cross market with dapp partners
- Request NFT Space community members to suggest their favorite Algorand apps
- Partnership form on the NFT Space website
To enhance the credibility of Algorand artists and strengthen their presence in the art world, NFT Space can collaborate with esteemed traditional art institutions. Through this partnership, the institutions can provide a platform to showcase the works of these artists, thereby elevating their recognition and promoting their art to a wider audience.
The preceding phases have equipped NFT Space with a substantial amount of content and established a strong reputation for NFTs, providing the foundation needed to effectively collaborate with institutions for promotion purposes.
Examples
- NFT Space can form partnerships with art museums at the local, regional, and national levels. To start, NFT Space can collaborate with museums dedicated to NFTs and participate in NFT-related art displays at web3 conferences, laying the foundation for future partnerships with more traditional art museums. NFT Space can also sponsor its own physical, pop-up temporary art displays.
As part of the collector engagement phase, NFT Space can also form partnerships with non-profit organizations to educate underprivileged communities about financial empowerment through art curation and NFTs and empower local artists.
Example of implementation
Web3-Specific Conferences with Art Displays
NFT Museums
Traditional art institutions may require more education to fully understand and embrace the growing interest in blockchain technology and its impact on the art world. In addition, in order to scale the sourcing of instutional partnerships, NFT Space can invite potential institutions to their bootcamps and hackathons (as participants and judges) and/or create their own educational programming similar to Tezos' WAC Program.
Work Intensive: HIGH - Instiutional partnerships may require dedicated staff member. However, if it is artist-driven, then it can scale quickly.
Scaling
- Art Instutional Partnership form on the NFT Space website
- Invite traditional art institutions to any NFT Space educational events
With the assumption that NFT Space has an in-house marketing team that will execute these tasks, the budget for the entire campaign is $153,500.
Since NFT Space is a pre-seed company, it needs to focus on the most high-value and less costly and labor intensive campaigns. Ordered in the most affordable campaigns:
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Social Media Campaigns - Top Artist Lists / Reduce Cost in NFT Purchasing Promotions
- $50,000 in paid engagements on Twitter and Instagram due to their focus on the web3 and art communities
- $10,000 in paid engagements on LinkedIn due to their focus on founders, institutional investors, and business people who work on a potential partner dapp
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NFT Airdrops / Minting
- 1,000,000 NFTs * $0.02 for minting = $20,000
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NFT Awards Show
- Master of Ceremonies ($5,000)
- Awards gift (20 awards * $200)
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Education
- 30 lecture sessions * $200
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NFT Hackathon Prizes: $30,000
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NFT Bootcamps
Virtual
- Zoom Business Plus (two admins - $500)
- Virtual guest speakers from the Algorand NFT community ($200 * 20)