Community Building in Web3
Web3 projects are driven by strong community building
The word of the hour is “Community.”
Web3 has brought the value of community building into the spotlight. The most successful blockchains, DAOs, NFT projects, defi protocols, and decentralized marketplaces all have one thing in common. They are all powered by engaged communities.
These communities create real value for their members. They drive real connections and offer the opportunity to be part of a shared idea or movement. Web3 communities provide a framework for members to contribute to what is being built and to benefit from its success. In turn, community members act as a viral marketing machine accelerating the growth of the community.
“Web3 communities provide a framework for members to contribute to what is being built and to benefit from its success.”
Let’s take a look at what the best web3 communities have in common.
Multi-Platform Community Building
For the most part, web3 communities use a public facing platform (usually Twitter) to communicate their vision, share announcements and attract new members. Communication on this channel is about generating interest and enticing people to join the community’s primary platform (usually Discord).
The majority of community interactions are happening at this second level. Discord allows for community managers to create an efficient, organized structure for communication. Automated messages and other tools can be used to streamline the experience of new users coming into the space.
New users should be greeted and provided with information about how the space is organized. Channels for topics should be clearly marked. User experience is key. The faster a new user starts to engage with others in the space, the more likely they are to stick around and contribute to the community.
Effective Storytelling
Web3 communities are brought to life by effective storytelling. The story paints a picture of what the community might accomplish together, what problems it might solve. The story gives life to the project and attracts individuals who feel aligned with its stated purpose.
“NFT projects are the perfect intersection of storytelling and community building.”
There’s nowhere in the web3 space where this is more apparent than NFTs. NFT projects are the perfect intersection of storytelling and community building. If a team can craft a story that creates a strong connection with even a niche group, a community can grow very quickly around that story.
- Boss Beauties is an NFT community focused on empowering girls and women at the forefront of technology, leadership and creativity. The project’s art is aligned with the idea that a woman can be anything that she wants.
- The Bored Ape Yacht Club community has done an excellent job of crafting its story as the most exclusive membership club in web3. It grants members access to unique events, experiences, and benefits.
Members of a community using an NFT from the project as their profile picture is an incredible viral marketing tool. They are sending a message to the world that they are aligned with the goals or the attitude of that project.
Transparency in Project Development
Keeping your community engaged means keeping them informed on the development of the project. Successful Web3 projects typically maintain and update a public roadmap outlining near-term and long-term initiatives. Founders are vocal on Twitter.
Project teams make themselves accessible to the community on a regular basis via live AMAs (ask-me-anything) and community events. Discord voice channels and Twitter Spaces are great for hosting these events. Aave and Uniswap have both built incredible online communities by committing to transparency and hosting regular community events.
Community Participation
It’s not enough just to be transparent. Building an engaged Web3 community requires creating a framework for community members to actively contribute to the project.
One of the most effective ways that projects are encouraging community participation is by organizing as DAOs. This allows community members to submit and vote on proposals to move the project forward. The ownership of DAO governance tokens also allows the community to benefit financially from the success of the project. Compound, ENS (Ethereum Name Service), and Gnosis are developing some of the most robust on-chain/off-chain governance communities. Snapshot is a great tool for managing community governance.
These projects are also driving community participation via open source development. Providing open source developer guides and APIs makes it easy for their communities to build thriving ecosystems around their projects.
Don’t Forget About The Memes
Memes in Web3 are serious business. They can be one of the most valuable community building tools in the arsenal.
“Memes are community building catalysts for a world with a short attention span.”
Many successful web3 communities have a dedicated channel for community sourced memes. Memes are community building catalysts for a world with a short attention span. The process of creating them creates strong bonds between community members. Their potential to go viral on social media makes them a powerful tool for community growth.
What a time to be alive.
