Conversation

LG DOUCET
@LgDoucet
Replying to
@LgDoucet
in those 12mo, the NFT industry has accepted millions of new users and collectively defined its rules of engagement to be a desirable NFT project: - create community / hype - create a good story - provide value via realiable floor$ + charming PFP - build more, sell rarely /6
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LG DOUCET
@LgDoucet
projects must also provide ppl w/ 2 financial opportunities: 1- regular chance to win lottery (mint rare trait) 2- increase in floor$/value based on sentiment (ie. hold the next BAYC) "good" NFT projects are ones where people feel like they gambled using instinct - and won /7
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LG DOUCET
@LgDoucet
which is not what sports leagues do. that aint the model. and its why - at the core - many of our fave projects with "so much potential" struggle to maintain sentiment, floor$, and growth hard truth: they're not designed to help us create the collective value of web3 /8
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LG DOUCET
@LgDoucet
web3 is about community capital - the ability for all of us to share and define value in something (NFTs) and maybe once the leagues get that part, we'll see an adjustment bc after all, i think many of us feel like the potential outweighs the disconnect so all is not lost /9
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LG DOUCET
@LgDoucet
SOLUTIONS here are short (0-6 months) + long term (6-36 months) ideas for a more web3 approach first, assume two things: - the sports card NFT platforms MUST continue to add users, both NFT native and normies - they must also continue to drive revenue for their license /10
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LG DOUCET
@LgDoucet
short term: - community councils, that plan + meet IN THE OPEN (not in secret) - dozens/hundreds of SMALL but IMPACTFUL IRL events. great funnel for newbs - community grants for innovation (ex: a burning game for TS moments) this makes headlines > brings new users /11
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LG DOUCET
@LgDoucet
- Aggressive deflation of supply. It must outweigh pace of new supply - Make new supply a huge marketing event (put that shit on TV!) - Create CLEAR winner/loser in NFT economy (ex: "these cards are just floor cards") - Provide WL for other NFT projects (so hot right now) /12
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LG DOUCET
@LgDoucet
long term ideas: - Make PFPs. Yes, seriously. and do it so it doesnt infringe on the league's IP. ppl want identity! - Create Loyalty Program based on LONGEVITY, TOTAL $ SPEND and ENGAGEMENT: Total drops bought Total spend on MP Total cards burned Total cards held/length /13
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LG DOUCET
@LgDoucet
- partner with big web2 platforms (Twitter, Discord) to create UNIQUE features of the product - ask the leagues for visibility. we want to SEE the person leading web3 on the brand side. regularly. in the end, the goal is to win together, as company, collector and brand /14
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LG DOUCET
@LgDoucet
these are just one person's ideas (mine) the communities in web3 truly are the key to success here, and I recommend to every partner to respect and highlight their communities on a level far beyond what they believe necessary that's the only way to make it imo /15
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smoot bankman-fried
@adamsmoot
Replying to
@LgDoucet
and
@TheFirstMint
Good thread. Prying the old business model out of the hands of leagues/owners is gonna prove to be the hardest (impossible?) part. As long as any company wants those licenses and the money and success that comes from em, they're gonna continue do what the leagues/owners want.