Non-Fungible Business #10: The NFT Winning Strategy for Brands ??

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A very common mistake among brands approaching NFT is?to look little or nothing at what is happening to Web3-native projects?and what strategies they deploy.

Instead, I am absolutely convinced that it is necessary to open up, study and in some cases take inspiration from the strategies of others to apply them to your own brand and integrate them into your own.

Today I will talk about how?two projects and two founders managed to grow the value of their NFTs even during the bear market, applying strategies that I will share with you and that are the basis for successful Web3 projects.

And let's start with?@frankdegods?who is the?founder of @degodsnft & @y00tsNFT, two of the most successful projects on the?Solana blockchain.

Last November, following some difficulties of Solana related also to the bankruptcy of FTX, one of the main investors,?Frank announced that his projects would migrate to a different blockchain, Ethereum and Polygon respectively.

Apart from the technological complexities that we will not address here,?moving from one blockchain to another can mean a lot: it means moving one's community from one part to another, with the risk of losing it and having to be accepted by a new community. It could almost be as if projects have to start from scratch, despite the successes of the last few months.

So, what does the founder do to be part of the new communities?

Buy NFT on the Ethereum blockchain and become part of the existing communities, choosing top projects such as?Bored Apes, Azuki, PudgyPenguins, Valhalla, RFTKT and some others?by spending significant amounts of money.

So, my suggestion to brands that want to launch successful NFT projects and target the Web3 audience is:?before selling, buy NFT to join communities, build relationships and increase your credibility.

And another incredible lesson comes from?Luca Netz, the very young entrepreneur?who last year bought Pudgy Penguins, a near-bankrupt NFT collection,?for $2.5 million, and who he and his team were able to revive and get off the ground thanks to a clear vision of how to create value for his community.

Luca's story would deserve a separate newsletter, but to summarise:

Despite being just 24-years-old, Luca’s extensive background in entrepreneurship under his belt, including an US$8M exit from a video-doorbell tech startup known as ‘Ring’. The company was acquired for a total of US $1B by Amazon, giving Luca his first taste of entrepreneurial success.

Now, Luca Netz runs a multi-million dollar venture capital firm and has rapidly cemented himself one of the world’s most successful young entrepreneurs. But things haven’t always been so glamorous. Luca Netz grew up homeless — for nine years he lived in more than 30 different guest bedrooms and living rooms, sleeping on an assortment of different sofa beds of friends and strangers that were willing to take him and his mother in.

And Luca shared?the 5 lessons learnt as CEO?that are resoundingly important and to keep in mind for any brand that wants to launch its NFT project:

1???Community: “If you are the CEO of an NFT project,?it is not YOUR project, it's OUR project. To succeed in Web3, you must have?a community-first focus.?You succeed BECAUSE of the community, not in spite of it. And it's important to show that respect to the people who believe in and support you”.

2???Vision: “Having?a clear vision is super important?when it comes to the success of an NFT project. A common north star that attracts like-minded individuals and inspires both the team & the community is the best way to succeed.”

3???Communication: “It is better to over-communicate than to under-communicate”. It is?a game based on attention?and in order to always be in the minds of users, it is necessary to communicate often and answer questions and doubts from the community.?It is not the channel that matters, but being authentic.

4???Content: “To bring value to the community in the long run,?you need to reach people outside of our still small Web3 space”. And vice versa:?a web2 brand?that wants to enter the web3?must necessarily engage and adapt to a different world, with different rituals, and one that does not care about the brand's past history and values.

Just because you did well in Web2 does not mean you will do well in Web3.

5???Utility: “There are two types of utility, transactional and emotional:

1. The emotional utility includes friendships, access to people, love for a character, and community.
2. Transactional utility means free airdrops, tokens, and "price goes up".

“While all of this helps, there is no one-size fits all recipe for success in Web3.

It's a whole new territory. Our space is developing rapidly.

But if you focus on your community, have a clear vision behind which your community can rally, communicate openly & respectfully, and offer more than just more NFTs to your holders, you're on a good path.”

And some?other relevant news from the NFT world:

• Gucci?unveils its pendant born from the collaboration with Yuga Labs. And pay attention:?they used the official Twitter account for the announcement:

• Ticketmaster?launches NFT-gated pre-sales for ticketing (one of the best use cases for NFTs):

• One of?Argentina's?airlines,?Flybondi, is integrating Web3 into its ticketing system by issuing e-tickets as NFTs:

I’m Michele Imbimbo (@ducati.eth), the founder of?Stargraph, a Web3 boutique that, since 2017, has been working on helping brands to understand and use digital assets to increase the company valuation. I’m Italian, love Ducati, play sports, have 2 wonderful children, and I invest a portion of my earnings in NFT projects to support artists, to forge new relationships, for the beauty of some of the arts, and because I am convinced that NFTs are here to stay for a long time.