Sustainable and Impactful Growth for Web3 Marketplaces

Challenge:

Growing and marketing a Web3 project today is like trying to find your way out of a foggy swamp. Some of the Web2 techniques and tools that we could just turn to without a second thought, such as targeted advertising and email marketing, are no longer applicable. While native tokens are commonly used as an incentivizing strategy, it’s not for every project, especially those who focus on building robust communities with no pump and dump. And as Web3 project managers and marketers, we’re all paving our own path out.

A NFT marketplace built on Avalanche, Joepegs wanted to steer away from a token-centric marketing strategy and really focus on building and growing a platform for creators and collectors that is sustainable and impactful. One of Joepeg’s missions is to empower not just artists but also those who appreciate and love art in this age of digital collectibles, shaping the future of true ownership.

However, it’s easier said than done. The dilemma between gaining fast traffic and consolidating a loyal user base can be exceptionally challenging for projects like Joepegs in the early stage. Even though a marketplace relies heavily on volume, without proper tools and incentives, growth just won’t be sustainable.

Solution:

When the Joepegs team came to Galxe, it seemed like a project with great potential and goals which Galxe could be in help of achieving. In the following month, Joepegs was able to leverage Galxe’s credential data network and a variety of tools to start growing their brand presence on social media and building a loyal community.

In October, the first campaign “Welcome to Joepegs” was launched, inviting millions of Galxe ID users to join the Joepegs community. This campaign, along with all the following ones, specifically targeted at users who have verified Twitter and Discord accounts on their Galxe ID profiles. Therefore, it became effortless for Joepegs to distribute an epic NFT reward to their Twitter followers, utilizing Galxe’s Twitter Follower Credential. Not only did this NFT reward attract users to start following Joepegs on social media, it also led users to Joepegs NFT marketplace to browse and trade. With 23,986 mints, this very first campaign successfully kickstarted Joepegs’ community building on Galxe.

To ride the wave, Joepegs quickly followed up with a Halloween-themed “Mystery Pumpkin Prize” campaign to create traction for their launchpad project Plague Game NFT. With Galxe’s Mystery Box Campaign feature, participants wouldn’t find out which pumpkin NFT they received out of 5 tiers, until they minted and opened the Mystery Box. Such an interactive experience quickly attracted a lot of users and the 20,000 minting cap was reached in no time.

These successful campaigns helped Joepegs gain lots of traffic and new users, and the important step next was to retain them. “Super Monday Spaces” was one of the initiatives that Joepegs began, by inviting users to tune into Twitter Spaces and learn more about the NFT marketplace they’re building. For casual events like AMAs, Galxe is well known for its Galxe OAT (On-chain Achievement Token) feature, which is a lightweight and gasless solution to increase engagement and loyalty within communities. The whole process of tracking attendance and distributing rewards is also streamlined with Twitter Space Credential and Twitter Bot.

Just 1 month on Galxe, Joepegs has been set on the right track to grow a community of early adopters. Positive results were clearly demonstrated in the Plague Game NFT launch, a project curated by Joepegs. To reward early participants, Joepegs gave out 10,000 NFTs which served as raffle tickets for users to win 2,000 whitelist spots in the upcoming mint. And yet again, the minting cap was quickly reached.

Result:

After a series of successful campaigns on Galxe, Joepegs saw tremendous growth on social media with their Twitter followers increasing from 30k to 96k - tripling growth. Not to mention the collections launched via Galxe generated just over 10,000 sales of NFTs. The marketing lead at Joepegs, Alima, was satisfied with the results:

”Galxe has helped us to achieve social growth and also conversions on our NFT marketplace. What’s more exciting is the general level of engagement on mints we’ve hosted.”

Leveraging Galxe’s ecosystem of credential data, growth-hacking tools, and community support, Joepegs boosted their brand awareness and created impactful Web3 experiences - which is exactly what the team at Galxe strives to achieve.