Ethereum’s metrics that could determine your portfolio value this week
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Admits he doesn’t “get” Ethereum, and makes a Dogecoin Mars prediction.
Some projects with over with 200k community members couldn’t mint out. How can you explain it?
You might ask ‘how is that even possible, with such a large community?’
Well, it’s quite possible and a lot of projects have had a similar experience.
After growing a very large community, hosting and joining various Twitter spaces, running collaborations like never before, when it came to mint date, people did not click the mint button.
Some didn’t even remember it was a mint day, despite their publicity, while some turned their backs when they got to the mint page.
So you sit down and wonder, what exactly went wrong. I mean, they did everything they ought to, they followed the script to the teeth.
The problem now seems obscure but the cause is something so little
Now I hear you saying ‘fine, what is it?’
It’s because they failed to carry the community along. I have realized that some members of a community don’t know what the project is about, while some aren’t fully convinced about what the project is building.
The cure is perception.
You see, perception is way stronger than reality because tells a person the measure of value to accord to something.
And what better way to build perception than using the king of persuasion — Copywriting
When there is a strong perception, an active community is built.
An active community is one in which the members understand its purpose and believe in what the founders are building
If there is no ‘understanding’ and ‘believing’ there can be no active community.
The closest you’ll get is spam hype words from people waiting to flip… that won’t build you something sustainable.
Stories also help in building perception, you can read all about it here.
Enough talk! Let’s do some work.
We would make use of this typical sales funnel
Community building — collaboration — onboarding web2 peeps — launch — post-launch — roadmap execution — branding
In the process of community building I see a common mistake many projects make that makes it seem as though everything they are trying isn’t working.
They employ various engagement tactics but still have low turn ups and vibe in the community.
This happens because they neglected the fundamentals.
If the foundation is weak, how can a building stand?
The foundation building blocks of a community are knowing…
The theme of the community
The values you want to uphold
The benefit they get for being a part of it
The goal behind the community
They have to be put in place before a community can be built
For a full explanation of how the building blocks, you can read this article
After these ‘foundation blocks’ have been set in place, then engagement tactics can come in.
Consider hosting events like
Game tournaments ( discord games or online multiplayer games like among us)
Karaoke Night
Movie night
Trivia games
Friday party
Name the nft
Puzzles
Just get creative, no one likes a server all about invite contests or wl challenges.
Ensure to weave elements of copywriting in every event or activity announcement. Don’t just type ‘we are having xyz event, try to join’
Make it exciting and use emotional triggers.
At this rate, there will be a gradual increase in the way they perceive the project. Let’s take it a step further, shall we?
You can also involve the community collaboration decisions
What if you sent a list of about 2–5 projects, and highlight the benefits of a collaboration with each project. Then ask the community to vote on which they would like you to collaborate with.
Tell me, would they feel important?
Would they feel that you value their opinions?
Would they feel like they are a part of the building process
Yeah? I believe so too.
Let’s say you just secured a collaboration with a big project.
Don’t just copy their template and post in the collab channel. It’ll make you like everyone else, so a big NO.
You will host an event, ensure you always host an event for big collaborations like this.
The next step is the announcement
This is where I see a lot of projects miss it.
You’ve got to do it in a grand style.
How do you think an upcoming club will tell the public that they just signed in Messi
Lots of noise right?
That’s exactly what have to do. Blow a lot of hot air on this collaboration.
You might say ‘why do I need to go through all of this?’
Have you forgotten? We want to build perception here.
A Doughnut adorned with different colours of candy and a twisted chocolate cream, packed in a transparent box will be perceived to be more expensive and quality than an orange doughnut in nylon.
In the same way, you want your community to perceive that your project and the collaboration you just secured is valuable.
Use quality visuals to announce (cinematic videos, graphics, interviews, logos..) and state the benefit of that collaboration to the community.
Ensure your announcement is compelling in such a way that would make them feel they’ll miss a lot if they don’t join the event.
You’ll agree with me that the most loyal kind of people are those you teach something new.
This is where SEO content marketing comes to play. Create informative and educative content on how a newbie can navigate the Web3 space (NFTs, DeFi… as the case may be)
Your content will be laced with copywriting to pull them to the CTA button which leads to your community.
You will also put mods in place to answer their many questions and guide them on all they need to know.
You might need to create a private channel and role for them, where you can give them more onboarding materials.
Now, you are preparing for the big day. Start with a 14-day campaign everywhere, from socials to every project you collaborated with. And of course a daily reminder on the server.
Ensure the mods constantly talk about it like the world cup is around the corner
Remember to use appealing visuals (rare sneak peeks, quality graphics, cinematic videos, interviwes, IRL events…)
Also, include:
Reviews ( Basically what people are saying about the project. You could retweet credible tweets)
Threads about what you are building and how it’ll affect the space
Digital events and the likes
One last thing.
Add a copy on the mint page to reassure them and prevent any kind of last-minute turnback.
Let’s rewind a little
We experimented with a typical funnel. Yours could be more detailed and might include more phases, but that isn’t a problem provided you weave in copywriting.
When working out our experiment, it could take weeks, perhaps months because you are building rapport with people you barely know, so patience is needed.
If you have dotted all the i-s of this process, a sell out is guaranteed.
Post launch is not the time the community should be idle. Instead it should be quite active with you updating them of every step of the building journey.
Host events, AMAs, and interviews on your progress. Let them know they matter because the truth is, they really do.
Find new ways to give the community value.
Wow! You made it to this point, thank you.
You can send in your thoughts in the comments.
Are you building something in the web3? Do you want it to scale?
Then let’s have a chat about it. Let’s Connect
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The Little-Known Way Copywriting Builds Active Communities For Web3 Projects was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Will NFT’s Replace Art ? — Dusable Lewis | Podcast on Spotify — open.spotify.com
Listen to this episode from Dusable Lewis on Spotify. dusablelewis.com
Are nft’s used for art theft? Some would say yes, it’s actually the wild west when it comes to plagiarism and blatant ripoffs.
•How are thieves using NFTs to steal art?
Since most storefronts for NFTs are automated and only verified by blockchain there’s no person verifying the legitimacy of these works of art. Subsequently this results in rampant theft of other people’s art. Each storefront is self-contained and does not interact with other ones, for example if you post a one-time purchase on opensea.com you can post it to other storefronts as well. Now one of a kind nft is owned by multiple people which is not ideal. It’s actually quite dishonest that you can post an nft as one of a kind on multiple platforms and there can be multiple owners of that nft. And yes you could always make a legal claim but it’ll be very difficult with digital art because verifying who created it is almost impossible.
•Why don’t people talk about nft theft?
People don’t talk about ntfs being used for theft because they are in the honeymoon phase, they believe that it’s the next big thing and it’s making art more accessible to more people. Although that couldn’t be any further from the truth because you can never replace physical art with letters and numbers on a computer. Millions of people can download the image of an nft. Technically you are supposed to be able to verify who’s a real owner who’s not but nobody’s going to have someone open up an application and prove it. Nobody talks about nft’s being used for theft because nobody wants to be shunned. Nobody wants to be an outcast for going against the masses that support it.
•How can we stop neft theft?
When it comes to the stealing of art we have always had ways to verify what’s real and what’s not. There are thousands of tools used just for the purpose of distinguishing fake from real art but that’s only in the physical form. When it comes to digital art it’s really hard to determine who it belongs to or who even made it originally. When it comes to digital art we have to go buy who uploaded the image first and that does not determine who made the image it only determines who was the quickest to upload it to the internet. There’s no way to truly know who made a piece of digital art, you can only know who uploaded it first. You can make the argument that someone could steal a physical piece of art and sell it as their own but people are more likely to steal digital assets than physical ones. There is truly no way to stop the theft of art in the nft market. There isn’t even a way to track who bought what or who truly uploaded it.
•Are nfts used for money laundering?
Art has a bad reputation for being used for money laundering and ntfs are no different. For a long time the rich have used art as a way to escape taxes and other financial responsibilities. It has also been used historically to boost the sales of specific artists that a rich person might like. Rich people using their money in a rotating door manner to boost numbers for their friends and family has always been the thing in many other categories like film and music but it’s the easiest to pull off with art. People can hear a song and know that it’s terrible or watch a film and know that it’s awful but it’s not as easy to tell someone that their art is bad because it is a lot more subjective than other forms of visual or audible art. When it comes to art, whether digital or physical, is the most subjective thing on the planet. A banana taped to a wall literally sold for millions of dollars….. Need I say more?
•Will ntfs replace physical art?
Physical art has been around since before humankind and is not going anywhere anytime soon. You cannot decorate your house with ntfs and that alone will never allow digital art to take over physical art. Although both physical and digital have issues with plagiarism digital art assets can never truly be one of a kind because anyone can copy and paste it from the internet. If you want to make a fake a physical art you have to actually sit down and make it which is not as easy as copying and pasting from the internet. So that there’s no digital arts will never take over physical art
We could be plunged into the dark ages at any moment and there will be no digital art… only physical.
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Will NFTs Replace Conventional Art? was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.
Having heard the term “generational wealth,” you may have thought to yourself, “Wow, that’s important.” You may have forgotten about it since you’re preoccupied with something else. Getting out of debt, putting money aside, or achieving other monetary goals are just a few examples. Building wealth for future generations may not be at the top of your priorities right now since you are preoccupied with taking care of your immediate financial needs. Still, it’s something you should consider in the long run.
What does the phrase “transferring generational wealth” refer to?? Don’t worry about it! What it is and how to establish one for your family will be explained in this article.
Meaning of generational wealth: Wealth that is passed down from one generation to the next is referred to as generational wealth. This is also known as family wealth or legacy wealth. If you can leave something behind for your children or grandchildren (for example, an inheritance), you are helping to increase generational wealth in your family.
Of course, you may leave many things behind for your families, such as fond memories and healthy genetics. However, I’m referring to the financial resources you’re able to leave behind. This wealth can take many forms, including real estate assets, stock market investments, or future financial education.
If they had the money, your parents could pay for college. This choice could affect your finances. Saving for a home or retirement may be better than paying off college loans. As you progress in your financial journey, you’ve probably realized it’s not easy to recover from financial missteps.
It could have prevented overspending or gotten you into budgeting sooner.
Black and brown families accumulate less wealth than white households. Racism caused this. Minorities must build riches for future generations.
Generating wealth is simple. You must acquire assets or accumulate money for retirement. When you pass away, you will leave your assets to subsequent generations.
This sounds easy yet is hard to do. Saving for the next generation can seem overwhelming if you’re trying to save. It’s understandable.
Before preparing for generational wealth, you must establish your retirement plan and financial goals. Once you have your finances under control for your golden years, start saving for the future.
Here are several strategies to leave your children and grandchildren a monetary legacy.
Long-term wealth accumulation can be accomplished by participation in the stock market. It’s a terrific option if you’re hoping to develop a legacy of wealth that will last for generations. The stock market might be intimidating if you’ve never done it. If you want to grow money in your lifetime and beyond, this is a vital method of doing so.
Investing in low-cost index funds is the most excellent way to start the stock market. Low costs and long-term gains can be found in these funds.
More than thirty percent of family-owned firms are passed down to the next generation, which is a strong indicator that these companies have the potential to achieve significant levels of success. Think about entrusting your kids with the reigns of the family company if it’s been very successful.
Even though many family businesses fail to make it to the second generation, there is still hope for yours. There is a good chance that your children may wish to take over the business you develop if their interests and abilities are similar to those you have.
If you want to maximize the likelihood of a smooth transition into the next generation, you should begin involving your child in the family business early. They are required to understand how the company operates and how to maintain their success inside it.
Do not anticipate that they will take control of the business you’ve developed if they show little interest. If they can’t or won’t run the firm, consider selling it to fund generational wealth in another way.
Having life insurance gives you the ability to safeguard your loved ones if you pass away unexpectedly. If you cannot earn a living, your children may be required to live in financial conditions that are less than ideal. If you take the time and make an effort to purchase a life insurance policy for yourself and your children right now, you may be able to spare them from financial devastation. In addition, if they do not have you, they will have many other problems to cope with already.
Education can often provide a means for your children to support themselves. Many people with a college degree have the opportunity to pursue high-paying jobs that can help them manage their finances.
Anyone who has received an education will always have that education. Although other things in life come and go, no one can take your education away. If you can help your children graduate from college debt-free, you are helping to prepare them for a better financial future.
Consider how much financial stress you will be able to relieve on your children’s shoulders by being able to pay for their education. Investing in your child’s education is a great way to build generational wealth and set them up for financial success!
It is estimated that 70% of families’ wealth is lost in the second generation. And 90% of them fail in the third!
It may appear pointless to save for a rich legacy with statistics like that. However, generational wealth loss can be avoided through financial education in many cases. After all, if your children lack financial literacy, it is easy to lose generational wealth.
That’s akin to asking your child to maintain a classic antique car after you die without teaching them any mechanical skills. The car would almost certainly break down at some point. Similarly, if you teach your children nothing about personal finance, the wealth you leave for them will likely dwindle over their lifetime.
Because you’re interested in passing down family wealth, you’re probably familiar with personal finance. Teach your kids this. This understanding will produce and protect generational wealth. Money can be discussed with kids in many ways. Children can learn about money through books, activities, or listening to financial decisions.
You can even assist them in opening their bank accounts at a young age to instill the value of saving for the future.
Having various sources of income can aid in the creation of a legacy of wealth for future generations.The average millionaire has seven income streams!
There are many different types of income, but one of the best is known as passive income. Active income is earned when you exchange your time for money, such as through a job or a side hustle.
Passive income is earned from your assets after the initial setup takes little time. Rental properties, book royalties, peer-to-peer lending, and so on are examples. So it would help if you put in the initial effort, but once that is done, you will continue to profit from your efforts. So you could write a book and earn royalties for years to come or buy a house to rent out and net rental income. Begin establishing passive income streams to create generational wealth!
Generational wealth can only be achieved by saving money for the future. Paying yourself first is the quickest and most effective approach to saving money. You immediately transfer the money into your savings and investments when you earn your paycheck. You’ll save a lot of money this way, and you won’t have to worry about spending it as quickly. If you can, open a savings account where you can receive interest on your money.
You must consider putting part of your money to work in the stock market to increase your net worth over the long term. How to Pass Down Family Wealth
You now understand how to create generational wealth, but you must also devise a strategy for passing it on. Here’s what you’ll need to do to ensure a smooth transition of your financial assets to the next generation.
An estate plan is necessary for ensuring a smooth transition of your assets. This plan will become more complicated as your estate grows larger. At any stage, I would recommend consulting with an attorney about how to create your estate plan.
The plan will differ significantly depending on your objectives and assets. You can create a project with the help of a legal professional that will allow your assets to pass to your children with minimal hassle.
A will may be included in your estate plan, but you should write one even if you don’t have one. Your specific wishes should be included in the will-the more detailed your plans for any accumulated assets, the better.
Survivors often disagree without a will. They’re emotional because you’re gone. Follow explicit recommendations to avoid tragedies and financial trauma. Complex but admirable: building riches for future generations. After your finances, preserve your family’s future.
Find something that works for you because not everyone wants to invest or establish a business. Regardless of your technique, teach your kids about money. If you teach your children about personal money, they’ll be ahead of the game.
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Getting And Maintaining Generational Wealth was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.
I made a MetaMask, a digital wallet that stores cryptocurrency and other tokens, in December of 2021. I have experienced many aspects of the Web3 world. However, I am still a ‘noob’ by all means. I have been observing as much as I can for roughly eight months. Finding examples of the various aspects of Web3, I learned quickly that something so often referred to as something similar to the Wild West could be complicated, confusing, and annoying to maneuver through.
Some would say being in space for about eight months is nothing in terms of experience, and in many ways, I agree. But, in this short time, I have recognized the need for general observation within space and the apparent lack of understanding surrounding it. I don’t know where the average person fits into Web3 right now, and I have no clue what it will look like in 5 years. Up to this moment, I have used or experienced games built on the blockchain, visited the virtual environments the Metaverse is to become, used the dApps that allow additional utility and advantages than web2 applications, and much more that I am still finding. Unfortunately, I still have no idea what it means for me and where I fit in the potentially decentralized future, which I think most people would agree with. For instance, while DeFI (Decentralized Finance) may sound perfect for an accountant to become exposed to, which it may very well be, it may also be the experience that leads them to their first NFT, or maybe a dApp that makes a part of their job way more accessible.
But, if people are to continue to become a part of the space and be more available for mass adoption, the space must improve. I have decided I want to somehow document the progression I see within Web3 and provide some beneficial record of experience for what the public ledger that is the blockchain unlocks.
Of course, specific topics must be covered, how to give yourself security in a world where the responsibility primarily falls upon the individual. But, helpful knowledge such as gas prices and their fluctuations, understanding a whitelist(WL), also called allow lists, for an NFT, and how that’s different from Bitcoins and every other cryptos whitepaper. Ultimately the community is a powerful entity within the umbrella of Web3, but helping give insight to each other will enable everything else to progress forward.
I don’t want to be that nobody that talks like they are somebody. However, I believe if regular people don’t discuss their experiences honestly more often, then we are failing the potential of all of Web3. There I have made the internal decision within my mind to try and discuss what I observe moving forward as a nobody.
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Where Do We All Fit into Web3? was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.