Building a brand community in Web3 involves leveraging the unique capabilities of Web3 technology, like blockchain, crypto, and decentralization, to foster a sense of belonging, collaboration, and shared values among community members. A Web3 community is where individuals can share the value created with their actions and ownership.
What is a Web3 Community?
A Web3 Community functions as an opt-in membership, but instead of merely granting exclusive access to members, it provides exclusive access to buying in. Through Web3, your brand can construct communities that surpass previous levels of engagement, loyalty, and profitability. This is achievable because Web3 empowers brands to establish communities based on their own conditions, involving members who are fully dedicated to the success of their community by possessing tokens and enjoying additional perks.
Brand Community Case Examples
One of the most successful community-building brands is Liquid Death, a popular canned water brand. They used Web3 technology to elevate their loyalty and VIP programs. They launched an NFT (digital collectible) VIP program called Murder Head Death Club, to wrap all of their branded offerings in a premium shell. Those who purchased the NFT had access to exclusive discounts, celebrity experiences, and live events. To continue fostering their community, they offer fans the ability to DJ on their radio station, watch a special movie Liquid Death filmed on Discord, and local events like a poker night. Liquid Death views this community as their biggest fans — and genuine friends. The end goal is ensuring they enjoy their private access to all things Liquid Death.
Mattel has unlocked a new way for consumers to collect toys and be part of a viable community with its pioneering Hot Wheels NFT Garage, a place where people can buy and trade digital collectibles. Their goal was to meet consumers’ evolving behaviors and take advantage of innovative opportunities beyond the conventional marketplace. They then extended their thinking by partnering with Boss Babies to to create NFTs to celebrate Barbie’s 250 careers for International Day of the Girl. This, combined with a master class in marketing of the new Barbie movie, has given the brand and its followers excitement, access, membership, and belonging.
Steps To Building a Brand Community in The Web3 Space
Define Your Brand
Clearly articulate your brand’s mission, values, and purpose. This will help attract like-minded individuals who resonate with your brand’s vision.
Engage with Your Brand Community
Actively participate in Web3 communities and platforms relevant to your industry or niche. Engage in conversations, provide valuable insights, and establish yourself as a knowledgeable and trustworthy brand.
Encourage collaboration and co-creation among community members. Web3 technologies allow for decentralized decision-making and governance, enabling your community to have a say in the direction of your brand and actively contribute to its growth.
Provide Exclusive Benefits
Offer unique benefits and rewards to your community members. This could include access to exclusive content, early access to product launches, discounts, or special events. Make your community members feel valued and appreciated.
Educate and Empower
Provide educational resources and empower your community members to understand and navigate the Web3 landscape. Help them understand the benefits of blockchain technology and cryptocurrency, and how they can actively participate in your community.
Encourage Peer-To-Peer Interactions
Facilitate peer-to-peer interactions and networking opportunities within your community. This can be achieved through community forums like Discord, social media groups, or dedicated chat channels like Slack or Telegram. Encourage members to share their experiences, ideas, and to collaborate with each other.
Organize Events and Meetups
Host virtual or physical events and meetups to bring your community members together. This allows for deeper connections, knowledge sharing, and strengthens the sense of community.
Be Transparent and Authentic
Transparency and authenticity are key in building trust within your community. Be open about your brand’s decisions, communicate your roadmap, and actively listen to feedback and suggestions from your community members.
Tokenize Your Brand Community
Consider creating a native cryptocurrency or token for your community. This can serve as an incentive mechanism, rewarding active participation, and fostering a sense of ownership. Tokens can be used for governance, voting rights, access to exclusive content, or even monetary rewards.
Build Decentralized Platforms
Explore decentralized platforms and protocols that align with your brand’s values and leverage their features to create engaging experiences for your community. For example, you could build a decentralized application (dApp) that allows users to interact with your brand, earn tokens, and participate in community-driven initiatives.
Remember, building a brand community in Web3 is an ongoing process. Continuously adapt, evolve, and iterate based on the needs and desires of your community members to create a thriving and engaged Web3 brand community.