It’s hard to encapsulate what makes or breaks an NFT project. Extremely well thought out concepts with perfectly capable helmsmen can spend months trying to gain traction, while the most basic ideas can flourish & sell out in a matter of seconds. Why?
Hype & Marketing are obvious answers, and will often be the primary catalyst to propel a project into an overnight success, but very VERY few projects can maintain this momentum.
A recent case-study worth looking at is the “Bored Ape Yacht Club”. One could argue that it’s success can be boiled down to the aesthetics & that people just “like the art”, but there are countless projects that preceded Apes with very similar credentials that have simply faded into obscurity. My brief foray into the club made one thing very obvious to me, BAYC is far more than a collection of images, it truly is a movement.
Lightning in a bottle
How does one start a movement? First you need a concept or belief that people can rally behind. Then you need a means for those people to interact & share ideas, and finally you need to reward those that support the cause in order to entice new members & grow the community.
We greet each other politely every morning, we say it back to one and other. This is not a new concept, but is is one that has been lost in the realms of social media.
The NFT community looked to change that, and Twitter is a better place for it.
The gm. token
To build this community, we created a token. Currently built upon the Rarible platform, but ultimately we will migrate to our own smart contract.
This token will act as your way to gain entry to the club, but will also give each holder the right to vote on how the community evolves & spends funds from the gmDAO (more on that later).
To claim one of these tokens, one must simply say it back. Starting on September 4th 2021, I will be saying “gm” each day without fail for 100 days.
The first 10 people who respond with “gm” will be entitled to claim a token. One token per person, no exceptions. This is the one & only way to gain access to the club at this time. EDIT: As of October 1st, the daily reply race will now include small challenges tied within the “gm.” tweet in order to combat any botting activity. These challenges will serve as a way of verifying that each entry is submitted fairly & by a human.
On days that an insufficient number of people reply, the remaining tokens for that day will be burned. Additionally, and unclaimed tokens at the conclusion of the 100 day period will also be burned, thus making the “gm.” token deflationary. As a best case scenario, there will be a maximum of 1000 “gm.” tokens in circulation.
The gm. club
So now what? The first step for new members is to join the Discord, this is where most of the discussions take place. The club is very much in it’s infancy, with roughly 70 members to date (13/09/2021), but we have big plans.
In the short term our goal is to make the gm. club an exclusive area where polite & passionate people can gain an edge over the market, sharing ideas, winning prizes & discussing drops. But our ultimate goal is much greater than this, we want to reward members with actual value.
This would mostly revolve around the gmDAO, a treasury fund that could be deployed by the gm.embers for purposes that benefit the community. Some initial ideas for the treasury are:
- Fractionalizaion of fine art (Punks, Apes, AB), distributed across all gm. holders
- Commissioning traditional/gen artist to create an exclusive collection to holders for free, with additional pieces being available for public mint. All proceeds would be reinvested into treasury
To execute these ideas we would require some initial capital, and for this we also have ideas, but more on this later.
For now, we hope to see you in the club soon & thanks for reading!