Greed may have brought you into the NFT space, but storytelling will be the reason you stay.
I’ve been eyeballs deep in NFTs for 15 months and I’ve seen my fair share.
The majority of people enter the NFT space with one intent — to make money. And the best way to make quick money with NFTs is to flip them.
Now, I’m not against making money. Money’s great. But it’s difficult for NFT projects to develop loyal communities if everyone wants to make a quick profit.
So what’s an NFT project to do?
Here’s why storytelling can turn flippers into diamond hands.
People Are Loyal to Their Favorite Stories
If you find a TV show that you like, you’ll probably…
• Binge it,
• Tell all of your friends about it, and
• Countdown the days until the next season drops.
That’s brand loyalty at it’s finest.
NFT projects can replicate that experience with their own communities via innovative storytelling.
Storytelling Strengthens NFT Communities
Stories are fundamental to our communities.
The reason is simple. Storytelling gives communities a shared experience that creates an environment conducive for building personal connections and making memories.
When projects prioritize storytelling, they generate stronger connections amongst holders.
Community members can chat about the stories on social media — hypothesizing and even contributing to the storytelling process. This level of engagement creates an emotional connection between not only holders and community members, but also holders and the project itself.
Emotional connections result in brand loyalty. Facts.
Storytelling Provides NFT Projects With Endless Content
Content is king.
And storytelling helps projects produce a ton of it. Increased content means increased engagement. Increased engagement means increased social capital.
NFT owners are less likely to sell projects that have strong social capital.
The truth is, NFT projects need a lot of content to stay relevant. Luckily, storytelling amplifies social media engagement and helps projects front run the algorithm.
I’ve personally made countless pieces of content about NFT story developments from my favorite projects. And I’m not alone.
At the end of the day, if projects want to retain holders and reduce flippers, they’ll need to create a fun environment for their communities.