Mar. 2023, Daniel
data source:Mocaverse Minting Monitoring; Mocaverse Real Time NFT Airdrop Monitoring
NFTs are the foundation of the Web3 community. They are the ticket to blockchain games, DAOs and metaverses, becoming the digital avatars of the participants and the vehicle for them to build their experiences.
The incubation and launch of a collection of NFTs can define a company's broader Web3 ambitions. A strong NFT project can easily become the cornerstone of a vast metaverse with other collectibles, tokens, and assets worth billions.
But how does an experienced Web3 team successfully launch an NFT project?
Through a multi-stage rollout of several events from January to last March, Animoca Brands, the largest blockchain company in the world, launched its own for shareholders, employees, investors, partners and supporters by minting 8888 NFTs inner metaverse space.
Mocaverse aims to bring together the most important projects and people in Web3, which can strengthen Animoca Brands' industry position as a center of innovation and leadership. But the key is in execution.
To ensure an effective timing and strategy for whitelisting airdrops and launching Mocaverse NFTs, Animoca used real-time on-chain data to plan their January airdrop and monitor their March minting activity. Industry observers and brands considering launching their own metaspace projects can take several lessons from this move.
How Animoca used an airdrop to spark interest in pre-NFT minting
The Mocaverse is articulated as a metaverse of friends and family of the Animoca brand. This initially includes:
institutional and retail investors
Employees of Animoca Brands and its subsidiaries
Management teams of companies in Animoca Brands' Web3 portfolio
Animoca Brands Partner
Whether intentional or not, this fuels wild interest from the wider community, based on perceived scarcity and exclusivity.
However, on December 30, Animoca announced a fifth category of eligible people - Mocalist members. This is a category of community members and supporters defined by a weighted calculation of token holdings, NFT holdings, and community activity.
In other words, NFT airdrops for those who have Animoca and Animoca-related tokens and NFTs in their wallets, as well as those who participate in these communities.
Each ticket entitles the owner to register with Mocalist and potentially win the right to mint an NFT.
Airdrops are a critical stage in launching an NFT project. The reasons are as follows:
Targeted distribution. By creating a whitelist, the NFT collectible launch team can ensure that airdrops are distributed to specific groups of people who may be interested in the collectible. This can build a strong community around the collectible and increase its popularity.
fairness. A whitelist can be used to ensure that airdrops are distributed fairly among those who contributed to the success of the collection launch. For example, a whitelist could include addresses of users who participate in the project's social media activity, contribute to the project's development, or hold a certain amount of tokens.
safety. Limiting the distribution of airdrops to a specific group of addresses reduces the risk of fraud or abuse. This can help prevent malicious actors from gaming the system to unfairly obtain tokens or NFTs.
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Airdrop Distribution: Address Number
Wide distribution gives players and supporters of many games and projects (not just those with millions of ETH) an opportunity to participate in the core integrated Animoca brand community.
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Case Study of an NFT Project - Launching Minting and Follow-up Operations
social media data
On-chain data such as price, supply, buyers and sellers are direct and quantitative, while social data often requires more interpretation. In many cases, however, a large, active community can start and sustain a project without a strong technical presence. Ultimately, the community drives the hype and creates liquidity for the project.
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Price change vs total engagement trend
Anomica Brands pays special attention to Twitter as an important communication channel about Mocaverse. Therefore, they also monitor new followers and unfollowers on a daily basis.
holder data
Dead NFT projects are piling up with flat base prices, proving the importance of monitoring and maintaining a collectible’s community, hype, and price both at launch and after.
The reality is that even top collectibles, like all trading assets, don't just go up after a lot of hype, but take time to catch their breath. The key is to start investing heavily in community activity once you see a massive mint sell-off before it arrives. When the number of free minters is much higher than paid minters, this phase of the project can be brought forward and made happen more quickly. Hence the importance of monitoring paid minters vs free minters.
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But paid vs. free minters is just one measure of understanding your NFT holders — after all, not all holders earn NFTs through initial minting. This number should get smaller and smaller over time.
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Large coin minters consistently dumping all NFTs within the first week may indicate a lack of confidence or perceived value in your NFT community by the most seasoned Web3 insiders. By looking closely at such addresses, you can also see if they instead choose to hold other NFTs or assets.
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transaction data
One of the most important recent Web 3 trends has been the growing liquidity of NFTs as tradable assets, with the emergence of marketplaces like Blur and SudoSwap making high-volume transactions cheaper and faster.
Metaverse, GameFi, and NFT projects need to monitor transaction data as it can help identify where their projects are thriving and where they may be struggling. For example, they might find that certain types of NFTs or metaspace features are more popular than others. This information can then be used to make data-driven decisions about how to allocate resources and prioritize future development.
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As part of its trade analysis, Animoca also tracks trade winners and losers. In trading, your profit is another person's loss. In an ideal world, however, project winners and losers remain relatively balanced. If the numbers become heavily skewed, it means there may be a hack, bug, or other serious problem.
Use Footprint Growth Analytics to manage your NFT projects
Every project is different, and Footprint Growth Analytics (FGA) can turn any on-chain data into insights through its flexible data architecture. However, the most critical and high-value areas where this tool helps are in target user discovery and lifecycle management, based on the gaps that most marketing projects in Web 3 currently need to fill. Projects can be implemented with this tool:
Find the target user group before the airdrop
Select users who are eligible to participate in the event
Check activity participation status of qualified users
In addition to users, FGA can also allow projects to open up free NFT minting or airdrops to those who win the whitelist, and detect bots fishing for airdrops. Throughout the coinage/airdrop campaign, FGA supports real-time tracking of key data such as minting and transfers.
Through continuous NFT project monitoring, including social data and price activity, projects can learn about their communities and product lifecycles.
This article comes fromFootprint AnalyticsThe Footprint Community is a global, mutually supportive data community where members leverage data visualizations to co-create communicable insights. In the Footprint community, you can get help, establish links, and exchange learning and research about blockchains such as Web 3, Metaverse, GameFi, and DeFi. Many active, diverse, and highly engaged members inspire and support each other through the community, and a worldwide user base is built to contribute data, share insights, and drive the community forward.
The Footprint Community is a global, mutually supportive data community where members leverage data visualizations to co-create communicable insights. In the Footprint community, you can get help, establish links, and exchange learning and research about blockchains such as Web 3, Metaverse, GameFi, and DeFi. Many active, diverse, and highly engaged members inspire and support each other through the community, and a worldwide user base is built to contribute data, share insights, and drive the community forward.
Footprint Website: https://www.footprint.network
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