It's been a busy few months! We participated in the Octant Accelerator, continued to refine the product, and launched 5 new communities, including Open Medicine Foundation, our first registered non-profit 501(c)(3). We're also accepting donation on Flow State - even a small donation from you could lead to 100x matching donations from sponsors.
Despite adding new communities, our user growth has been slow, so we've decided to concentrate on increasing the value we provide for communities while also looking at other segments of communities to target. We've mainly been targeting crypto communities with large US presence, but now aim to onboard smaller crypto-adjacent communities and non-profit crypto-curious communities. The hope is to allow any community of any size easy access to web3 tools.
Progress
💰 Transaction Volume: 107 users have collectively loaded $18,398 onto their cards and spent $13,417
👥 Community Funnel: We have successfully launched Higher, Purple, OMF, BCard, and Treegens
We also shipped a card allowing Nouns users to collect $nouns in addition to $nogs
📱Product
Latest round of user tests revealed some issues around top and bottom of funnel, so we added a monthly email statement (similar to a credit card statement), and also plan to add some automated emails when users join
Released our digital-first card, eliminating some issues we've had with physical card delivery
Analytics and database upgrades to help us track incoming user cohorts
Experimented with a new form of onchain endowment funds, which we could use for non-profits
📣 Distribution
Participated in the Octant accelerator, which gave us coaching and access to mentors, as well as some co-branding distribution
Started developing X audience (for new users) and LinkedIn audience (for new communities) with 2x weekly posts, content experimentation including audiograms, and cross-promotions
🏦 Finance
We still have >40 months of runway at current spend, but aren't paying contributors yet
We are on Flow State and getting matching donations - even a small donation from you could lead to 100x matching from sponsors, so please consider opening a monthly donation stream
Asks
If you are part of a community with a US membership that wants to distribute tokens, unlock passive revenue, or proliferate brand, have them fill in our Community Intake Form.
We continue to plug the gaps in our user funnel, but to figure out product-market fit we will need to iterate on the product and market. Look for more iteration the rest of this year!
— links, BCard Champion
