GM Farcaster is a live stream Farcaster news show with cohosts @NounishProf and me, airing 3x a week since September 2023. As of this writing, we have livestreamed and recorded 58 episodes. Last month, we announced a small experiment with sponsorships, for 3 reasons:
Give fans an opportunity to show their support for our project
Give brands an opportunity to get in front of a farcaster audience
Give us a chance to test an advertising/sponsorship process and bring in a small amount of revenue
In this post I'm recapping the experiment and sharing the results and our next steps.
Experiment Recap
The experiment was simple - we created an NFT collection on Zora with different options for sponsorship tiers. Users could mint Tier 1 at 0.01 ETH, Tier 2 at 0.025 ETH or Tier 3 at 0.10 ETH. Benefits to sponsors included listing their names in our credits, airdropped episodes, a write up in our weekly newsletter, and a VIP happy hour event. We chose Zora so people could mint directly from their feed using warps. We announced the sponsorship in Farcaster and on our show but did not do much else to raise awareness or aggressively drive interest.
You can read more details about the sponsorship opportunities in this post:
Experiment Results
8 total sponsors, 3 Cup o' Mole (Tier 1), 1 Cup o' wowow (Tier 2), and 4 Cup o' CLP (Tier 3)
0.4 ETH raised (~1k USD)
Feedback from sponsors was positive. One individual who minted the Tier 1 option appreciated having an easy way to show support. Someone who sponsored at Tier 3 said they were happy with how prominent the sponsor placement was in the show but didn't get tagged in our casts which they would have wanted. Our most positive response was from Artlu who got a brand sponsorship for Farchiver, which led to customer activation with out of the blue signups.
What's Next
We are happy with the results of our month-long experiment and are now taking a brief pause to evaluate next steps.
For future sponsorships we're considering simple NFTs like our first sponsors, as well as recurring subscriptions using Hypersub with Fabric. We're also interested in exploring bigger partnerships with larger brands.
Are you interested in hearing about future sponsorship opportunities? Do you know brands who would be a good fit? Please let us know by filling out this sponsorship interest form.
Lastly, I want to end with a shout out to our January sponsors. We are so grateful to the 8 sponsors who stepped up and showed their support for a little experiment in onchain media. Thank you to monkeydlinks.eth, typeof.eth, arjantupan.eth, yes2crypto, wakeupremember.eth, cybershakti.eth, justin.ahn.eth, and artlu.eth. You are all Farcaster OGs and we appreciate you! Everyone should follow them on farcaster and check out their work.
