Launch Pass now has over 3,000 mints. It was a fun experiment, and I'm more bullish than ever on "Product NFTs." Here are some thoughts for those considering an NFT for their product.
Proof of Early: Rewarding and thanking early users for their support is the best reason to do this. We had a list of early users and specific requests for mint #s and manually invited each person via Telegram.
Discoverability: We hypothesized that if done right, users would discover Launchcaster through the NFT. We were right. Launch Pass gave Launchcaster a bump in traffic and resulted in thousands of new high-quality wallet users. Here's how it went down: first 10-20 minted → Launch Pass showed up on Farcaster leaderboard → people discovered Launch Pass on the leaderboard → more mints → we announced it → Launch Pass reached #1 → more mints → bots started tweeting about it and including it on newsletters → more mints. In addition to leaderboards, users discovered the product through the NFT metadata. OpenSea is now a top referral source.
NFT Features: The simpler, the better. Rainbow Zorbs are just a custom app icon. That's it. Launch Pass got users an upgraded profile. We overcomplicated it at launch. My mental model is to keep the NFT an invite, an account, or a feature. Be careful mixing them and throwing in vague community benefits.
Airdrop Farmers: If you deploy it, the airdrop farmers will come. If the NFT plays an important part in your product, you'll want to think through which wallets can mint — What should they have in their wallet, what should the wallet age be, how do you handle and capture non-allowlist wallets, how do you let whom in and when, and how do you notify them? Daylight and Interface did a good job at this.