Who is the best target for your Crypto Project?

How to create a community for a blockchain project

A brief analysis of the potential stakeholders you would want to involve in your blockchain/cryptocurrency project and community. We’ll explore:

How to build a Community for blockchain dapps and products
How to build a Community for blockchain dapps and products
Author: Charles Deluvio

First, the purpose.

Why do you want people in your community?

Then, the target.

Once you defined why you want to establish or increase your community, it’s time to think about who your community should be composed of.

With few exceptions, a blockchain project will not focus only on one type of segment and there will be a healthy mix of different types of people in your community. The ratio of this mix, instead, is very specific for your project.

Segmentation can happen on different levels: demographic, psychographic, geographic and behavioral; we are going to focus only on the 3 (4) most common behavioral segments.

Pro tip: take these briefs and adapt them to your project, creating very specific persona. A community built for everyone is a community for noone.

How to make thecommunity bigger for crypto projects
How to make thecommunity bigger for crypto projects
Author: William White

Punters

The gamblers. The speculators. Attracted by quick short-term opportunities, flipping NFTs and tokens whenever there is the opportunity.

Why you want them: they bring the hype, they are the shillers. They will go out and harass every single human being on Twitter on how good your token is. Constantly chasing the latest airdrops or the best APYs for farming.

Also, importantly, they will participate in your Token Generation Events (ICO, LBP, minting, …).

They tend bring very positive energy to the project at the beginning, and to be quiet before the TGE (why telling someone else to buy your token if they haven’t bought it yet).

Technologists

The BUIDLers, the ones that understand (or think they understand, like me) your technology, fascinated by the potential of blockchain as a World computer.
They will read your developers’ update even if it is written in technical language and even if doesn’t actually provide any useful update. (Pro Tip: this is actually a great way to measure that part of the community).

Why you want them: they might be a great source of talent for future hiring, as technical ambassadors, or they might decide to build on top of your protocol / integrate with your dapp.
In an early stage, they might help with protocol recommendations, bug reviews, early testnets and writing technical documentation.

How to make people build on your blockchain protocol
How to make people build on your blockchain protocol
Author: “My Life Through A Lens”

Philosophers

In love with the mission and the cause of what you are doing.

Why you want them: they are the HODLers. When things go wrong (and they always do), when the market goes down, they will embrace it and accept it if they felt onboard on your mission.

Of course, even Punters will HODL, but they are more inclined to sell and/or come to your channels and request for a listing on Binance, more marketing activity, more hype, more WEN MOON.

A tweet for the philosophers of crypto

Investors/Institutions.

Why you want them is clear: they bring in the big money.

Why you don’t want them: they expect/want a fully regulated product, and that is not always the best route for a company that wants and needs to innovate fast.

Author: Redd

Finally, the mean.

So, we identified why and who. We are left with the toughest part, the how.
How do you engage your community in a crypto project?

Channels

What are the best touchpoints for engaging people in blockchain projects?

Asian Channels

What channels are more effective in Asia for crypto projects?
(deep dive here):

Pro Tips

Check for example the social media sources of the websites of some big exchanges (we can assume they are interested in attracting people to their trading portal):

Source: Semrush (read “tracking user” part in the intro here)

Ultimately, consequences

The type of person you attract will affect the future of the community, so it’s important to get it right early on because it’s very hard to change at a later stage.

Every individual will bring some kind of value in the short or long term, so it’s critical to treat everyone with respect and make them feel valued and welcomed from day 0. Yes, sounds cheesy but it goes a long way.

Campaigns and initiatives, Influencers, Metrics and Feedback

If you are interested in these areas and other pro tips please ping me on Twitter / Linkedin / Email and I will share more resources with you.

A decentralized mind.