3 Things NFT-Twitter has Taught Me.

I listen to a LOT of Twitter spaces revolving around NFTs & the Web3 space and I have noticed a handful of things from the sidelines. Things to keep in mind for those who are deeply involved in building in the space, as well as those who are simply along for the ride.

What would this Twitter Space NFT be worth in ETH in late 2021?

The first thing that stuck out to me is how important it is having like-minded team members for your project that will reflect you as a founder and the core values you set for your project. This is how you will clearly establish your vision.

This is debatably the most important thing (imho) that distinguishes a quality project from those that do nothing more but saturate our NFT space. Projects with a founder whose mission and vision are clear will naturally rise above the rest. This is especially true when backed by a driven team, and an aligned community.

This leads me two the second point, the main problematic variable in NFT projects is that founders and builders have no control over who can enter their communities, nor are they able to vet the intentions of holders. Their community is an unknown going in.

So, while a project may build a solid structure, the force that I have seen weigh down and/or propel a project, is its own community and the culture they embody.

To dive a little deeper, this is powerful because it proves the philosophy of a bad apple ruining the whole bunch. If a bad apple is present in a community, and their values don’t align with those of founders and its builders, the likelihood is if that toxicity isn’t kept in check, the bad apple will spoil the vibe of the entire community.

This can also create an internal predicament when trying to balance and foster a healthy community. As I see it, you can either rule with an iron fist to attempt to gradually diffuse problem members as founders, moderators, and management in a project. Or hopefully your community is strong enough to do it to itself and prune the bad apples, taking the burden off the core team.

Honestly, this is a tuff one for me as I have seen a very fine line in what people feel constitutes criticism, fud, feedback, and mere opinions. I think establishing the role of what holders and community members mean to a project can set the precedent for all future expectation and feedback loops in the future.

A great example of a community driven by positive onboarding is DeadFellaz.

I have recently become part of the HORDE, with Fella #3403, and within the first 24 hours of a PFP change, I was greeted with an abundance of GMs, and Twitter follows from other holders and DF fans. The community DF has cultivated is strong and resonated with me immediately. That being said, I entered the project unknowingly, without expectation, and can say, regardless of the market, I don’t think DeadFellaz is going anywhere but up (not financial advice, I mean this culturally). They embody a healthy community balance, 100%. All good vibes. Kudos to DF. ❤

DeadFella NFT #3403, and coincidentally, the cutest DeadFella in the HORDE. :)

Also not ACTUAL financial advice, but if you do join the horde. LMK. 💚
(HMU on Twitter @TomOverChaplin)

This may have to do with community size, and an early established positive echo-chamber that reaches around 10,000+ holders, and MANY more people who just love the art and general community. On the other hand, I have also seen and experienced the exact opposite with other projects. While I cannot attest to the reason for sure, I have felt discomfort come from interactions with the loudest and least welcoming voices. In certain projects, these voices seem to go unchecked and taint the overall community vibe. When the loudest voices convey a less welcoming and inclusive feel, it’s unfortunate. :(

I want to clarify that I think differing opinions, and criticisms are all natural responses when being in a pool of thousands of people. Opinions and criticisms have a time and place to be heard and acknowledged. What bothers me in studying these communities, is how these ‘loud’ or ‘bad apples’ try to use mob mentality and fud to spoil others in an attempt to onboard more members against the core values in a project. These people suck. They should eat beans.

Lastly, this is something very few talk about or admit, and simply put, it’s a founders missteps and their fault. Just like in regular business, in NFT projects things often go wrong or just plain not according to plan. Backtracking a bit to my first point, transparency is key. Don’t let the hurdles that make you stumble be the defining moment in your project’s story. Allow them to be highlighted as obstacles you overcame and learned from. You have control over the narrative (assuming you keep bad apples in check). This goes for your team, your community, and your future. Good luck and GM.

THE TLDR:

1. Stand tall. Be true to yourself, and your intentions. People will follow.
2. Good communities make it easier to onboard good people. Shitty communities make it harder to onboard good people. Get rid of shitty people in your NFT project.
3. Own your mistakes. Make sure that you get to write the narrative of your hurdles. This is your story, own it.