Pencil Drop #7: BFF

Welcome to our column, The Pencil Drop! Each week our tokenomics team breaks down the most exciting projects in Web3 to give you insight into what’s really happening in the metaverse.

This week for the 7th edition of the “Pencil Drop,” the P00LS Research Lab is taking you to a very renowned crypto space called the BFF community. BFF is an open-access community with a mission to help women and non-binary people get educated, connected, and financially rewarded in crypto and Web3. Managed by 100+ leaders across industries, the group also includes celebrities like Mila Kunis and Gwyneth Paltrow. Curious about BFF?? Read below!

What is BFF?

BFF was created by Brit Morin and Jaime Schmidt, two serial entrepreneurs and investors who share a passion to help women rise to their full potential. BFF is also where you can find all the alpha on the hottest Web3 projects through a unique onboarding and education process. The project believes that 72 percentof cryptocurrency buyers are male and that the Web3 market value will reach $10 trillion within five years. BFF’s mission is to change those predictions by creating a more inclusive Web3 onboarding experience.

How it works

Their site -https://www.mybff.com/- is divided into three main parts: Connect, Learn, and Participate.

A. The Learning Section

The team compiles and publishes the best resources for you to discover and learn more about crypto no matter your current level of expertise. Additionally, three different reading lists created by three different co-founders are proposed to you. They each act as a curated crypto guide with hundreds of links to videos, articles, and podcasts. Ranging from the explanation of DAOs to how to find a job in the Web3 space, there is literally everything you need to gain full knowledge of the Web3 and crypto space.

B. The Connect Section

The connect section encourages people to connect with one another and become active community members. Live events, merch, collabs, product creation, NFT drops, and more are presented to incentivize people to link and create a strong community. In the BFF community, you will have the opportunity to earn rewards based on your participation and engagement. For example, you could sign up for text updates, become an active member on the BFF’s Discord or mint one of BFF’s NFTs.

C. The Participate Section

This last section is made for you to understand the utility and value of the BFF NFT collections. Two special NFT collections have been created to open BFF’s world to its holders. They will give access to exclusive perks and make holders active members of the BFF community.

NFT Collections

1. BFF Friendship Bracelets

• BFF Friendship Bracelets grant priority access to all upcoming NFT drops in partnership with top emerging artists. Every collection under the BFF umbrella has a distinct vision and utility. Every BFF Friendship Bracelet guarantees access to mint a PFP, and large bracelets act as a Member Pass to everything in BFF’s world.

Advantages for BFF Friendship Bracelet holders

• VIP access within BFFCon 2023: Private parties, +1s, free/reduced pricing and more.
• Tickets to all drops and a chance to mint all future drops and BFF NFT collections.
• Private channel and chats in Discord
• Special seminars, workshops, and regional meetups
• Active holders will be able to redeem perks as they are released
• Input and decision on BFF’s charitable partners
• First opportunity to participate in BFF Launchpad

2. You NFT Collection

• BFF’s inaugural NFT collection, You, celebrates the uniqueness of women and non-binary friends across BFF’s community and the world. In her renowned style, artist Jade Purple Brown brings vibrant color and dynamic expression to 10K unique pieces in the collection. Each NFT grants access to a revolving list of perks.

Advantages for BFF ‘You’ holders

• Access within BFFCon 2023
• Special perks and meetings with the Founding BFFs
• Private channel and chats in Discord
• Bespoke You branded product drop, mailed to your door at no cost
• Active holders will be able to redeem perks as they are released

BFF Economy

Data about the BFF Friendship Bracelets collection and the “You” collection:

→ BFF Friendships Bracelets

• Total supply of 8.444 items
• There are 7,073 BFF Friendship Bracelets owners
• 0.33 ETHfloor price
• 7.1K owners
• 4.8K total volume
• The average price of one BFF Friendship Bracelet NFT was $294.80

→ “You” NFT collection

• 10K items
• **5,635** holders
• 0.1 ETHfloor price
• 5.6K owners
• The total sales volume for You by BFF was **$13.18k**
• 403 listed
• The average price of one “You” by BFF NFT was **$173.40**

Takeaways

The reason BFF is working today is that it succeeds in keeping a strong, committed, and active community. We have seen this consensus over and over again as we study and learn about other projects and communities. The same goes for P00LS: we can only grow if our community remains dedicated to our shared project. Web3 is about giving back to the community by rewarding people according to the efforts they put into supporting the space.

Vocabulary:

• NFT: NFTs (non-fungible tokens) are unique cryptographic tokens that exist on a blockchain and cannot be replicated.
• DAO: Acronym for Decentralized Autonomous Organization, a community-led organization that lets members vote on the direction of their entity. With no central governing body, every member within a DAO typically shares a common goal and attempts to act in the best interest of the entity.
• IRL: Acronym for In Real Life

This is not a financial advising page, this content is for entertainment and education purposes only.

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