NFT Bali — A 31 day event
The Collective was in stealth for a year before we decided to reveal ourselves to the public.
Our first reveal was running a 31 day event in Bali, free for the end user, with the idea of showcasing a lifestyle.
If you’re active within the web3 space, you’ve definitely heard of NFT NYC, a 3 day event full of conferences and VIP parties, in my humble opinion it’s a little overpriced.
BUT, it looks like a lot of fun and you’ll probably see me there in the coming years.
When we were in lockdown, the majority of people found themselves working remotely. Now that they’re being called back to the office, we see them leaning towards wanting to remain at home or working from coffee shops and co-working spaces.
More and more users have begun to work within web3 full time, with that we found that Bali, already home to countless nomads and expats, along with an already strong crypto community, is well positioned to be the capital of web3.
The goal of this event was to showcase the expat lifestyle to web3.0 leaders and attract more of them to move to the island.
The first step was to find web3 sponsors, these brands would be the main source of income for the event.
We chose projects that had already raised a significant amount of money from their community and had ‘events’ located within their roadmap, or were interested in showing their community what ‘events’ could look like.
These projects include; Hunny’s, Blimpie, Dexpools, Mad Meerkats, Ekta, Creepy Creams, LandVault, Yen Gin, Wyndblast, Cyber Hornets, House of Stoxx, Super Happy Frens and NFT Avatar Maker.
We had three packages that sponsors could choose from, 1ETH, 3ETH, 5ETH.
Keeping in mind, The Collective would be making no money from sponsors or web2 partnerships.
The goal here was to help local businesses. Bali’s main source of income is tourism, when no one was here, this island struggled greatly and this was our way of giving back.
We collaborated with Tina Ardie, who has been running events here in Bali for over 20 years. She is well known amongst real-world businesses and event spaces, her role was to find partnerships with web2 businesses, Tina would also be helping us with PR.
Our final schedule looked something like this.
For a 31 day event, we needed to raise 50k which is absolutely insane (in a good way), considering that everyone would be receiving free meals, free drinks, VIP tables, bottle service, massage packages, co-working packages amongst other freebies.
What was it like to host a 31 day event?
Being at every single event was tiring, I’m lucky to have an extremely extroverted partner, who is complete magic at what he does. Me an introvert, suffered greatly and found myself being burnt out by the second week.
I must say, it was worth it.
We had venture funds, and founders fly out to experience the event, simultaneously my partner was setting up deals between these people.
It was all about business, curation and connection. While enjoying the perfection and beauty of Bali.
Some of these people who flew out were only going to stay a couple of days and decided they would stay a couple of weeks instead.
Everyone was extremely nice, happy and all around genuine.
Statistics and feedback
After the NFT Bali was over, we decided to send out a google form, what did people get out of NFT Bali? What did they want to see less or more of?
55% of people enjoyed workshops the most, along with the dinner events. Parties and clubbing weren’t as popular among the community! It was actually something they wanted to see less of.
90% of people made meaningful connections, with that 63% conducted business throughout the event.
There was a healthy mix of expats and people that came to visit.
What did we learn?
We raised 140% of the money needed — when ETH tanked we managed to cover the costs of the event with about $500 to spare. This was a good lesson to learn, the volatility of the crypto market is insane, it’s safer to convert straight to fiat after receiving the money.
Any money left over from the event was to go to a local charity within Bali.
Our prepaid drink tabs didn’t get used up during our events — next time, we will simply have a running tab.
The majority of the events were held within Canggu, in a way this confined our community and the experiences we could offer to those that came to NFT Bali. We’ll be showcasing more locations next year!
We look forward to seeing more people coming to this event in the coming years!
Intentions for the future
The Collective will be running a month long event and week long event every year (6 months apart). We will curate an invite only founder / investor experience once a month as well.