DEGEN LABS is different in that it isn’t following the typical NFT project playbook, that in itself is innovative. Despite holders not being totally familiar with our project’s trajectory — considering they cannot predict it based on their past experience as degens in the space — they can rely on our communication (which we attempt to improve everyday). Everything is planned in advance, and the strategy is executed methodically.
In my Week 3 article, I said there had been a strategic shift to increase reader acquisition rate and diversification via:
A. The deployment of different Twitter accounts to report on communities that would otherwise not get coverage — first experiment being DEGEN SPICE.
Action: Since around the time the article was published, we successfully targeted Polygon readers and increased our followers by over 10% and Tweet impressions by 7,278.4%.
This measure allows us to narrow down the reporting scope of DEGEN NEWS to Solana — providing more value to the account’s core readership — whilst capitalizing on Polygon’s expected rapid community growth with DEGEN SPICE — considering the chain’s investment in community-building projects.
B. Information channel diversification to expand our TAM and allow the DEGEN NEWS multi-chain brand to grow beyond Twitter.
Action: We became the first Solana project to become a Binance Feed contributor, allowing us to reach over 30 million crypto-focused users. Despite the account having just started (with 0 followers) and posted just 5 times, its posts were viewed over 8.3K times — proving to provide content creators greater visibility than Twitter. Once we implement a regular Binance Feed operation, we can expect DEGEN NEWS to reach more readers on it than on Twitter in a remarkably short timespan.
In essence, a two-part reporting strategy to increase reader acquisition rate and diversification that was announced just 3 weeks ago is already being effectively implemented — as was planned. Why is there an emphasis on this strategy? Because its success translates into greater influence, allowing us to close deals that provide value to our holders.
We may be developing our DEGEN HQ platform to create longterm value, but we will be working in parallel to maximize holder value in the short run as well. An example being the recent AssetDash deal we closed that gave all our NFT holders access to their Gold tier membership card benefits. Whoever hasn’t checked their eligibility is free to do so here.
Although our project’s visibility is allowing us to close deals and partnerships, our holders want the DEGEN NEWS NFT project to have greater visibility in our coverage — we will be focusing our attention on this in the short run. In parallel, we will continue building our DEGEN HQ platform and executing our two-part reporting strategy.
Stay tuned for more updates, and have a Happy Lunar New Year!
DN
