NFT Community

Loosely put, an NFT community as a collection of brands and fans. Ideally, an NFT brand can include anyone who makes NFTs. From artists, athletic organizations, celebrities, NFT enthusiasts, to real estate companies, Web3 developers, and event organizers, anyone can start honing their style of NFTs.

Fans include followers of any particular artist, organization, NFT creator, and eventually anyone who digitally participates in the physical world via a brand’s NFTs. Many NFT communities regularly interact with fans online, whether on an NFT platform, or through other various streams of social connectivity.

But how would one go about building an NFT community?

The Pieces of an NFT Community

All NFT groups are first created in an NFT marketplace. Once a brand decides to create an NFT, or rather, a collection of them, they then spread the word about their community elsewhere online. But the process is not so simple.

In fact, every popular NFT community (think Cryptopunks, Bored Ape Yacht Club, etc…) has a few defining characteristics:

- Strong and consistent branding - Limited or rare membership opportunities - Multiple streams of information flow - Clear rules and cultural focus - Mechanisms to excite fans (rarity, pricing, NFT drops, special NFT characteristics)

But what about making something totally new and different? Well, in order to form a new community, one must consider even more granular details first.

Target Audience

Every community needs a target audience. Their audiences are the fans that have been attracted to an NFT premise which they likely found online.

There are an infinite amount of potential target audiences out there, so creating something that a group of people will theoretically like isn’t too hard a task. The hard part is finding one, and the best way for anyone to spread the word about their interests nowadays is online via social channels. Not only are Twitter, Reddit, Instagram and others good places to get started for a new community, these platforms are likely where most of the action will exist as the community grows.

Community Vision

Also, every community has a vision upon which it was founded. This vision guides the people in a community to strive towards one goal (these usually go beyond the artistic side).

A few examples of what a vision could look like could include becoming a top 10 most exclusive NFT brand, or to create a community that uses NFTs to give back to the poor, or to create an NFT community that is dedicated to advocating healthy lifestyles. Whatever the vision is, it should be genuine enough that it drives fans forward as the community grows.

Excitement Mechanisms

Mechanisms that make a community attractive can include NFTs that are visually appealing, or even niche designs that are meant to catch the eye of a specific group of individuals. Some communities regularly mint new NFTs to welcome in newcomers, while others have a set amount for their in-group. But the possibilities are endless.

NFT communities can even support each other with physical and digital interactions. For example, NFTs traded in the community could be rare items with ownership documents minted as NFTs, or beautiful pieces of art. Another popular route brands take is implementing a reward system for active community members.

- One of Fayre’s mechanisms for creating excitement is providing a platform that makes building a brand incredibly straightforward and easy for anyone. We work to create tools that brands and artists can use to establish and manage fan clubs, NFTs and their communities in real life, online and in virtual worlds.

Reputation

The best NFT communities are true to their word and vision. They are known for delivering on fans’ NFT and community expectations, and thus build loyalty around them. Creating a community is just like building any other relationship.

When two parties can rely on one another to meet expectations, loyalty, trust, and reputation begin to form. In an NFT community, making sure the community stays true to the set values and goals will help build a positive reputation inside the community. Reputation, therefore, acts as a necessary resource for any community.

Conclusion

At the end of the day, communities are much more complex and intricate than anything we discussed here. But the pieces we set forth are the basic building blocks for anyone who would like to build an NFT community. Finding a target audience, developing a vision, creating incentives to join the community, and holding to your word are key ingredients that can make any NFT community shine over time.