Web 3 Solution: Scaling Up In No Time Through Social Mining
The sustainable process that any project team must carefully plan for when considering their project is an active and strong community. This is a major issue many project owners failed to understand and settled for the wrong approach which thereafter resulted in time and fund wastage. Multiple such project owners apply traditional marketing strategies because of the dominance of web2 patterns already invaded the space. What a wrong approach!
As the adoption of crypto and blockchain technology increases, there are multiple ways individuals, builders and project owners are building their brands in other to be relevant in the space and also generate revenue for themselves. You will agree that potential members of the crypto community value certain fundamentals that a Web2-driven approach can not provide and discover such value will draw their attention to the space which will thereafter compound into accelerated growth of any project using such an approach.
Community Growth Scale Up Your Position
Based on experience, a lot of projects have attracted thousands of community members but with no or little impact on their growth, but the critical component to consider is true believers/members that are willing to contribute their expertise to a project’s growth.
This article will focus on Social Mining as a tool to grow your community and also scale up your position as an individual in the community.
Social Mining As a Right Communication Tool
A project team already plan all the incentives aligned to attract a community of believers ready to build alongside their team, it's now time to select and decide the social media platforms that suit the community members you aim to onboard.
When you look at the Crypto industry, the channel most used is Twitter, Telegram, Discord and Reddit. Starting with any of these with proper tools and arrangement is a perfect start. How do you command engagement?
Knowing that Web2 is all about “build it, they will come” in Web3, building a community focuses on project vision, roadmap, how it involves the community members and what they will get in return, this is where Social Mining is highly important.
Social Mining is a solution that monetizes community members' activities on a social media platform. This is what I called Decentralized Ownership.
Project X design a good tokenomics that ensures people who contribute to the growth of their project receive a reward of their native token or stablecoin. This token acts as an incentive for them to make valuable contributions to Project X.
DAO Labs a project founded in 2021 initiated a program that aims to develop a product suite which offers the next-generation governance infrastructure and tokenization tools for organizations across the private, public, and social sectors.
One of the solutions they provide is to build efficient strategies and lasting infrastructures in marketing and business development using the Social Mining strategy that presently strong projects like Avalanche, Polygon and KAVA Network are using.
The community at DAO Labs is growing daily because every community member gets rewarded for their quality activity daily using their personal Twitter handle to create content and grow their network. This is amazing!
There are two ways of rewarding contributors
- Accumulation of points to get stablecoin (Workdrop Announcement)
- Accumulation of points to claim the native token of a project (Marketplace)
Every community member at DAO Labs is a registered member under DAOVERSE (Social Mining Hub for DAO Labs). This Hub requires you to connect your Twitter account to it to generate LABOR points for each of your activities when your followers react on your content. DAO Labs team announce workdrop which comes with the conversion of the LABOR point you have acquired to Stablecoin. Sometimes this also comes with some bonus rewards like reputation and additional points.
There are projects using a Social Mining solution at DAO Labs, these projects use Marketplace which allows members to claim their points and thereafter conversion to that project's native token is done into the non-custodian wallet the member connects his/her account to.
As individuals leverage this solution, such fellows scale up their position with the project by building up their reputation. This can also open more opportunities for the fellow in the industry.
How Do You Start Social Mining?
Answer Short Survey
Connect Your Twitter Account
Join The community and Start
Other Social Mining HuBs
Avalanche Hub | Polygon Hub | KAVA Hub