How Web3 Academy turned its audience into a tokenized community and reached up to 60K+ builders
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🧞♂️ What if you choose a community-first approach to build a Web3 product? Community Insights on how to tokenize your audience successfully.
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If you don’t know anything about Web3 Academy yet, I’d love to introduce them to you. It’s an educational and media platform that guides creators and entrepreneurs into the world of Web3. It was launched in March 2022 and now consists of the Web3 Academy Podcast, Newsletter, Discord Community, Social Channels and w3academy.io.
63,000+
That is the number of builders Web3 Academy reaches on a monthly basis with significant growth every month.
I couldn’t help but ask Kyle Reidhead, their co-founder, to reveal the secret of such growth. He said that everything boils down to the community.
OK, let’s dive into the tactics that helped Web3 Academy turn their audience into a tokenized community 👇
1️⃣ Grow your audience
Instead of pushing out whitelists to make people buy your tokens, try to devote more time into creating content in your niche to grow a relevant audience. Otherwise, you’ll have a bunch of speculators and traders that won’t turn into a hyper-engaged community.
💡 The best forms Kyle recommend to use right now are:
Newsletter & Podcast (long-form content is great to educate and inform your followers, as well as it helps to build trust);
Shorts (they grab attention on different platforms like TikTok, LinkedIn, Twitter, etc. & also build trust).
2️⃣ Transition your audience into a community
Invite your audience into a community platform to discuss your topics further in a more private and intimate setting (Discord, Telegram, Slack, etc.). At this point, you don’t need to launch tokens yet or have 10,000+ people.
💡 In fact, starting small is much better when you’re trying to build an engaged community online.
The idea here is to cultivate a learning experience amongst the individuals who join.
Rather than you speaking to many, they can speak to you or to each other.
Use a chosen platform to learn about your audience and their needs.
Discuss what can be built or done to solve these needs.
3️⃣ Determine a plan
Before you launch a token to your community, you need to determine a plan. That could be a mission, a product, an event, etc. There are many options of what a community can do:
Help you create products;
Build their own products;
Host events, meetups, masterminds, etc.
For example, recently Web3 Academy launched the Web3 Academy PRO — a premium newsletter which is an on-chain analysis to uncover what Web3 business models & technologies will win. The team didn’t know how to do on-chain analysis, and that is where their community helped them to create a product from scratch.
4️⃣ Tokenize the community…but WHY?
Share revenues with those who contribute;
Give ownership/equity over the potential of the community and what it creates;
Give governance/voting rights to certain members or early adopters;
Track who was part of the community from the very beginning;
As a result
Three months later, in July 2022 Web3 Academy turned their Discord community into the Web3 Academy DAO, a new tokenized community with its own native currency and governance token: $DOER. Below you can see a pie chart showcasing the distribution of tokens:
It took Web3 Academy months to get everything organized, separate into groups, to find out the leaders, roles and plays. But once they got it done, the company started generating revenue, launching courses, building a consulting arm, etc.
These are just some of the highlights that Kyle shared during the EW3 Summit. If you wanna get deeper insights, watch his full video 👇 It’s free with a 7-day trial!
👋 Meet Web3 best players in person
Personally we admire the Web3 Academy team. And we’re super excited to say that this June they’re gonna come to Epic Web3 Conference in Lisbon to share even more insightful case studies and successful stories!
But if you don’t want to
Grow your Web3 business
Meet amazing experts and consult with them
Showcase your product
Get investments by VCs…
DON’T CLICK THIS PIC👇
Alright, that’s all for today! 👋 But wait…
You didn’t say “gm” on Twitter! Let’s catch up there for daily insights .
WAGMI,
Epic Web3