fin.mursk

During the last bear market, NFT projects flooded onto the market and most were relatively primitive. Most PFP projects lacked genuine communities around them or value in being part of the community, whereas game and metaverse NFTs were entirely tied to speculative usage.

Now, as the market matures, NFT projects or non-Web3 organizations who want to launch an NFT collection, need to be much more tactical in their marketing — conducting data-driven user-research and measuring their marketing campaigns. All these are the building blocks of an updated NFT marketing plan.

While some of the basics remain the same, new developments in Web3 analytics tools have added an element of scientific rigour to the marketing process, which you can integrate with your NFT marketing plan.

Defining the target audience is a crucial step in creating an effective marketing plan for an NFT collection. It involves understanding who the potential buyers of the NFTs are and tailoring your marketing efforts to their preferences and interests.

For example, if the NFT collection is focused on gaming, the target audience might be gamers and collectors who are interested in gaming-related NFTs. If the NFT collection is based on a popular TV show or movie, the target audience might be fans of that show or movie.

Once the target audience is defined, the marketing plan can be tailored to their preferences and interests. This could involve selecting the right channels to promote the NFTs, creating content that appeals to the target audience, and offering exclusive benefits or perks that appeal to their interests.

Using a blockchain analytics solution like Footprint, you can also use data to uncover and define your ideal users. 

Using filters like trading volume, buying vs. selling, and number of NFTs held, you can narrow down who will receive your marketing campaigns. As an oversimplified example, if you’re launching a penguins-themes PFP, you can research the top holders of a collection of Pudgy Penguins, then airdrop them your NFT or token.

By defining the target audience, the blockchain company startup can ensure that their marketing efforts are focused and effective, and that they are reaching the right people with their NFT collection.

2. Develop a strong brand identity for the NFT marketing plan

Developing a strong brand identity for an NFT collection involves creating a unique and recognizable visual identity. This can be achieved by designing a logo that reflects the values and characteristics of the collection. A good logo should be simple, memorable, and easy to recognize.

In addition to logo design, it’s important to select a color scheme that is consistent with the NFT collection’s brand identity. The color scheme should be distinctive, visually appealing, and aligned with the overall tone and style of the NFTs.

Creating a consistent visual style for the NFTs is also important. This could include selecting a specific art style or theme for the NFTs, as well as using consistent fonts and design elements across all marketing materials.

To understand the market, you can use Footprint Analytics’ NFT research to see which collections are trending.

However, due to the prevalence of fraud and wash trading, it is easy to mistake genuine hype with artificial pumps. Luckily, you can use Footprint’s dashboard to further explore collections and research the branding and strategies of those with genuine community engagement.

When developing a strong brand identity for an NFT collection, it’s important to consider the target audience and what will appeal to them. For example, if the target audience is primarily collectors, the brand identity should be sophisticated and high-end. If the target audience is younger and more tech-savvy, the brand identity should be more contemporary and visually engaging.

Overall, a strong brand identity can help to differentiate the NFT collection from competitors, establish trust with potential buyers, and create a more cohesive and memorable user experience.

Creating a compelling story behind an NFT collection as part of your NFT marketing plan can help to engage potential buyers and make the NFTs more meaningful and valuable to them. A strong story or concept can also help to differentiate the NFT collection from competitors and create a more memorable and cohesive user experience.

To develop a compelling story for an NFT collection, it’s important to consider the target audience and what will resonate with them. This could involve creating a backstory for the NFTs that adds depth and meaning to the collection, or developing a theme that ties the NFTs together.

For example, if the NFT collection is focused on a particular artist, the story could revolve around the artist’s journey and inspiration for their work. This could be communicated through marketing materials such as videos, blog posts, or social media content.

Similarly, if the NFT collection is based on a particular theme, such as nature or sustainability, the story could revolve around the importance of these concepts and how they relate to the NFTs in the collection.

Ultimately, the goal of creating a compelling story for an NFT collection is to engage potential buyers on an emotional level and make the NFTs more meaningful and valuable to them. By developing a story that resonates with the target audience, the blockchain company startup can increase the likelihood of successful NFT sales and build a stronger brand identity for their collection.

Choosing the right blockchain platform is a crucial aspect of launching an NFT collection. Different blockchain platforms offer different features and capabilities, so it’s important to select the one that best suits the needs of the collection.

For example, if the NFT collection is focused on gaming, it might be a good idea to choose a blockchain platform like Immutable X that is optimized for gaming NFTs. Immutable X is a Layer 2 scaling solution built on Ethereum that offers fast and inexpensive transactions, making it well-suited for NFTs that will be used in games.

Other factors to consider when choosing a blockchain platform for an NFT collection include transaction speed, security, and the platform’s community and user base. It’s important to do research on different platforms and weigh the pros and cons of each before making a decision.

To see which ecosystems are strong in the NFT space, and analyze which types of collections gravitate to which chains, you can explore the Single Chain and Chains Stats analysis in Footprint’s NFT Research.

In addition to selecting the right blockchain platform, it’s also important to ensure that the NFT collection is compatible with the chosen platform. This may involve working with developers to ensure that the NFTs are designed in a way that is compatible with the platform’s standards and specifications.

Overall, choosing the right blockchain platform is a critical step in launching an NFT collection. By selecting a platform that is well-suited to the needs of the collection and ensuring compatibility, the blockchain company startup can increase the likelihood of successful NFT sales and create a more seamless user experience for buyers.

After creating the NFTs and selecting the appropriate blockchain platform, it’s time to mint and launch the NFTs. Minting refers to the process of creating the NFTs on the blockchain, and launching involves making the NFTs available for purchase.

To mint the NFTs, the blockchain company startup will need to follow the specific instructions for the chosen blockchain platform. This may involve using specialized software or working with developers who are familiar with the platform. Once the NFTs are minted, they will be registered on the blockchain and can be viewed and purchased by potential buyers.

Launching the NFTs involves making them available for purchase on a marketplace or through other channels. Your project should provide clear instructions on how to purchase the NFTs, including any steps that buyers need to take to connect their wallets and complete the transaction.

In addition to providing clear instructions for purchasing the NFTs, the blockchain company startup should also consider marketing and promotion strategies to increase visibility and attract potential buyers. This may involve creating social media campaigns, partnering with influencers or other brands, launching airdrops, or leveraging existing networks to reach a wider audience.

Overall, minting and launching the NFTs is a critical step in the NFT marketing plan. By making the NFTs available for purchase and providing clear instructions and marketing strategies, the blockchain company startup can increase the likelihood of successful sales and build a stronger brand identity for their NFT collection.

Leveraging social media can be a powerful tool in promoting and building awareness around an NFT collection. Platforms like Twitter, Instagram, and Discord offer unique opportunities to connect with potential buyers and fans, and can be used to drive engagement and excitement around the collection.

One effective strategy is to partner with influencers in the space, who can help to promote the NFT collection to their followers and fans. These influencers may include artists, collectors, or other figures who have a strong following in the NFT community. By collaborating with these influencers, the blockchain company startup can tap into their networks and leverage their credibility to build buzz and interest around the collection.

In addition to influencer partnerships, the blockchain company startup can also create social media campaigns that are designed to drive engagement and excitement around the NFT collection. This may involve creating unique hashtags, running contests or giveaways, or sharing behind-the-scenes content that gives fans a glimpse into the creative process behind the NFTs.

Discord is another valuable platform for building community and engagement around an NFT collection. By creating a dedicated Discord server, the blockchain company startup can connect with fans and potential buyers, answer questions, and provide updates on the NFT collection.

Overall, leveraging social media is a critical component of any NFT marketing plan. By connecting with influencers, creating social media campaigns, and building communities on platforms like Discord, the blockchain company startup can drive engagement and build excitement around their NFT collection.

Providing value to NFT holders is an important aspect of building a strong and loyal community around an NFT collection. By offering exclusive perks or benefits to NFT holders, the blockchain company startup can incentivize people to invest in the collection and foster a sense of belonging among NFT holders.

One approach is to offer NFT holders access to future drops or releases, giving them the opportunity to purchase new NFTs before they are made available to the general public. This can be a powerful incentive for people to purchase an NFT from the collection, knowing that they will have exclusive access to future drops.

Another approach is to offer NFT holders VIP access to events or experiences related to the NFT collection. This may include invitations to exclusive parties, meet-and-greets with the artists, or other perks that are only available to NFT holders. These experiences can help to build a strong sense of community among NFT holders and foster a deeper connection to the collection.

Additionally, the blockchain company startup may consider offering early access to new features or updates related to the NFT collection. This can include access to new functionality on the blockchain platform or early access to new NFT collections. By providing early access to these features, the blockchain company startup can demonstrate their commitment to NFT holders and build loyalty among their community.

8. Continuously engage with the community

For example, let’s say the blockchain company startup is launching an NFT collection called “Crypto Cats”. The target audience is crypto enthusiasts and collectors. The NFTs are designed to be cute and collectible, with each cat having a unique personality and backstory.

To execute this marketing plan, the company could develop a brand identity that incorporates playful cat imagery and bright colors. They could create a story or backstory for each cat, and leverage social media platforms like Twitter and Discord to build buzz and engage with the community. They could also list the NFTs on popular marketplaces like OpenSea and Rarible, and offer exclusive benefits to NFT holders such as access to future drops or early access to new features. Finally, the company could continuously engage with the community through regular updates, contests, and giveaways to keep the momentum going.

This piece is contributed by the Footprint Analytics community.

The Footprint Community is a place where data and crypto enthusiasts worldwide help each other understand and gain insights about Web3, the metaverse, DeFi, GameFi, or any other area of the fledgling world of blockchain. Here you’ll find active, diverse voices supporting each other and driving the community forward.

The 8-Step NFT Marketing Plan

As the world embraces the revolutionary potential of Web3, blockchain technology and non-fungible tokens (NFTs) have emerged as powerful tools for marketing and engagement. In this dynamic landscape, businesses, brands, and platforms are harnessing the unique properties of Web3 to captivate audiences, drive sales, and build vibrant communities. From decentralized finance (DeFi) platforms to virtual reality experiences and curated art marketplaces, Web3 marketing offers a wide array of strategies to connect with users and tap into the growing digital economy.

This curated list of 19 Web3 marketing examples showcases the ingenuity and creativity behind successful campaigns within the Web3 ecosystem. Each example represents a unique use case that leverages blockchain technology and NFTs to create value, capture attention, and foster engagement. From gaming and collectibles to finance and virtual worlds, these examples illustrate the transformative power of Web3 in diverse industries. By exploring these case studies, we can gain insights into the strategies and tactics that have proven effective in the Web3 marketing landscape, inspiring new approaches and opportunities for businesses and brands in the digital age.

Decentraland is a virtual reality platform where users can buy, sell, and develop virtual land using blockchain technology. The marketing campaign for Decentraland’s initial land sales created a buzz by offering limited parcels of virtual land, attracting early adopters and speculators looking to invest in the metaverse

Axie Infinity is a blockchain-based game that allows players to collect, breed, and battle digital creatures known as Axies. The game’s marketing campaign emphasized the play-to-earn model, highlighting the potential for players to earn real income by participating in the game’s ecosystem and selling their Axies and in-game items.

Uniswap is a decentralized exchange protocol built on the Ethereum blockchain. To incentivize liquidity providers, Uniswap introduced liquidity mining programs where users could earn additional tokens by contributing to liquidity pools. The marketing campaign for Uniswap’s liquidity mining programs attracted users seeking to earn passive income by providing liquidity to the platform.

Chainlink is a decentralized oracle network that connects smart contracts with real-world data and external APIs. The marketing campaign for Chainlink focused on promoting the reliability and security of its oracle services, targeting developers and blockchain projects that require accurate and trustworthy data feeds for their applications.

Aave is a decentralized lending and borrowing protocol that allows users to access flash loans, which are loans that are instantly borrowed and repaid within the same transaction. The marketing campaign for Aave’s flash loan feature highlighted the flexibility and innovative nature of the protocol, attracting developers and traders looking for arbitrage opportunities and capital efficiency.

Rarible is an open marketplace for buying, selling, and minting NFTs. The marketing campaign for Rarible focused on promoting the platform as a user-friendly and community-driven marketplace, where creators and collectors could easily trade and interact with each other, fostering a sense of ownership and empowerment.

Synthetix is a decentralized platform for creating and trading synthetic assets, which are digital representations of real-world assets. The marketing campaign for Synthetix emphasized the broad range of synthetic assets available on the platform, attracting traders and investors looking for exposure to traditional financial markets through the blockchain.

 is a decentralized finance (DeFi) protocol that aggregates yield farming opportunities across various lending platforms. The marketing campaign for 

 highlighted the potential for users to maximize their returns by participating in yield farming strategies, appealing to DeFi enthusiasts and investors seeking high-yield opportunities.

MakerDAO is a decentralized autonomous organization that governs the creation and management of the DAI stablecoin, which is pegged to the value of the U.S. dollar. The marketing campaign for MakerDAO emphasized the stability and trustworthiness of DAI as a decentralized stablecoin, attracting users looking for a reliable and censorship-resistant digital currency.

Serum is a decentralized exchange built on the Solana blockchain, offering fast and low-cost trading of digital assets. The marketing campaign for Serum positioned it as a scalable and efficient alternative to centralized exchanges, targeting traders who value speed and cost-effectiveness in their trading activities.

SushiSwap is a decentralized exchange protocol that allows users to trade digital assets and participate in community governance decisions. The marketing campaign for SushiSwap emphasized the importance of community involvement and ownership in shaping the future of the platform, attracting users who value decentralized governance and decision-making.

12. Polygon’s Layer 2 Scaling Solution

Polygon (formerly Matic Network) is a layer 2 scaling solution for Ethereum, providing faster and cheaper transactions. The marketing campaign for Polygon positioned it as a solution to Ethereum’s scalability challenges, attracting developers and projects seeking to leverage the Ethereum network while mitigating high gas fees and congestion.

1inch is a decentralized exchange aggregator that sources liquidity from multiple exchanges to provide users with the best possible trading rates. The marketing campaign for 1inch highlighted its ability to optimize trades across various decentralized exchanges, appealing to traders seeking competitive rates and minimal slippage.

Curve Finance is a decentralized exchange protocol specifically designed for efficient and low-slippage trading of stablecoins. The marketing campaign for Curve Finance targeted users looking for a reliable and cost-effective way to swap stablecoins, particularly for yield farming and liquidity provision strategies in the DeFi ecosystem.

15. SuperRare’s Curated Art Marketplace

SuperRare is a curated marketplace for digital art NFTs, focusing on limited edition and unique creations. The marketing campaign for SuperRare emphasized the platform’s curation process, featuring renowned artists and promoting the scarcity and exclusivity of the artworks, attracting art collectors and investors interested in owning rare digital pieces.

OpenSea is one of the largest decentralized marketplaces for buying, selling, and trading NFTs across various categories. The marketing campaign for OpenSea highlighted the platform’s wide selection of NFTs, user-friendly interface, and vibrant community, positioning it as the go-to marketplace for NFT enthusiasts and collectors.

Enjin is a blockchain platform that enables the creation and integration of NFTs in video games and virtual worlds. The marketing campaign for Enjin focused on the benefits of using gaming NFTs, such as true ownership, interoperability between games, and the ability to earn and trade in-game assets, attracting gamers and game developers interested in leveraging blockchain technology.

NBA Top Shot is an officially licensed NFT platform that offers digital collectibles in the form of NBA highlights and moments. The marketing campaign for NBA Top Shot leveraged the popularity and fandom of basketball, targeting NBA fans who wanted to own and trade iconic basketball moments in a digital format.

19. Sandbox’s User-Generated Virtual Worlds

Sandbox is a user-generated content platform where users can create, own, and monetize virtual worlds and assets. The marketing campaign for Sandbox showcased the creative possibilities and monetization potential for virtual landowners and creators, attracting artists, developers, and entrepreneurs interested in building and profiting from their virtual creations.

These examples demonstrate the diverse applications and marketing strategies employed in the Web3 ecosystem, catering to various interests, industries, and user bases. Each project leverages the unique characteristics of blockchain technology and NFTs to engage their target audience and create value in the digital realm.

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19 Web3 Marketing Examples to Study in 2023

Web3 MKT Researcher

After Xiao Feng, chairman of Wanxiang Blockchain, proposed the “Three-Token Model” and reiterated that the value and development direction of tokens should not be limited to the market and price, a16z also published an article “

Tokenology: Moving beyond ‘tokenomics’

”. This article proposes a new term “Tokenology”, arguing that the use cases of tokens should not be limited to the cryptocurrency itself but can involve art, economy, and other fields, and the value standard of Token should be changed from price to application scenario.

In this article, the author will analyze why Web3 Loyalty is essential for NFT from the view of a16z’s “Tokenology”.

“Tokens” have always been a hot topic in the world of blockchain and cryptocurrencies. Beyond Web3, tokens continue to attract the attention of experts from various domains, such as artists, economists, game developers, and so on. In the past 15 years of development, tokens not only represent monetary value, which is still regarded as a key factor of tokens’ value by the mainstream but also other values like social and reputation.

For example, holders of 1 bitcoin and above, blue-chip NFT players, and giant whales, these words usually represent the user’s assets, and they are even more status symbols.

However, among the many types of tokens, there is one type that is more in line with the application needs of the Internet and even the entire society because of its specific image, low threshold for application, and more social attributes. Such tokens are NFTs.

NFTs can represent ownership, membership, identity, etc., and more importantly, they can enable builders to capture and convey multiple dimensions of value, opening up more design space. This idea will not be limited to the economic environment but can be used to coordinate and organize groups both inside and outside the non-crypto economy to achieve a common goal.

The application of NFT can be roughly divided into the following scenarios:

As a crypto protocol based on a decentralized ledger, tokens including NFT are defined as “a crypto protocol that can run free and forever without maintenance, interruption or intermediary”, which means that NFT can give holders corresponding digital ownership — because it is decentralized and cannot be tampered with. This is the most basic view of tokens in the crypto world.

In addition, tokens including NFT also represent the values captured and burned by the owner, which are not limited to the token itself.

NFT can be used as a key tool for promoting the relationship and interaction between brands and users. It can be used as creator tokens or social tokens. On the one hand, it can perform as IP peripherals that can prove fan attributes, such as early users or loyalty users. On the other hand, it also allows holders to directly interact with corresponding brands or artists, which not only increases fan stickiness but also improves the activity of the entire community, making brands or artists more valuable in terms of traffic.

The most well-known case in this regard is BAYC. Since its launch, BAYC has built NFT into an important element of its membership system. BAYC holders are not only looking at the token’s price, they will also be proud of being BAYC holders. They will post their NFTs on social media and keep participating in the discussion about BAYC.

NFT is a token with value, allowing projects or communities to incorporate it into the design of the incentive structure to reward users who meet certain rules, thereby encouraging more users to participate in interactions. This design is more commonly seen in Web3 marketing campaigns and loyalty programs, helping projects attract and organize users.

At the same time, a feature of NFT that distinguishes it from other tokens is that projects can issue multiple NFT collections or even dynamic NFTs, and provide classified incentives based on user’s attributes. For example, projects can create dynamic (upgradable) membership NFTs on the Loyalty platform, and set upgrade rules (frequency of interaction, holding assets, etc.), thereby realizing dynamic changes in membership rights and interests, adding fun and attractiveness.

NFT is an asset to help users exchange for equities

NFT holders can also use specific NFTs to acquire goods and services. This function not only allows users to unlock more rights and interests in holding NFT but also encourages them to continue to obtain NFT through different paths. It also facilitates the project to distinguish users with different levels of loyalty or activity, so as to ensure the perfection and fairness of the entire community system.

For example, in the Loyalty system with NFT as the core, users can exchange higher membership rights and even physical rewards through NFT. Another example is decentralized governance. NFT holders can use NFT to vote and participate in the decision-making of the project development.

Although this is a preliminary list of NFT applications, it roughly covers the general needs of the Web3 industry. At the same time, with the gradual growth of the Web3 community, most brands and projects are aware of the importance of user operations. Therefore, combining the above application scenarios, Web3 Loyalty, which can help projects run in multiple dimensions and organize users, was born.

The Web3 Loyalty project has created a more complete loyalty system by turning loyalty into NFT, integrating the above four application scenarios to help Web3 projects and communities increase user life cycle value and reduce customer acquisition costs.

The loyalty NFT can represent the proof that members obtain after completing specific requirements in specific scenarios. At the same time, the project can visualize user data through loyalty NFT, analyze user behavior and asset data on the chain, quickly complete user personas, tap values of users, and save operating and maintenance costs.

NFT strengthens the connection between brands and users. Building a project membership community around NFT allows users to participate in activities based on NFT, which facilitates the project to identify loyal users more quickly. NFT can also be used as an identity, allowing users to interact and display in social media, forming an effect of “NFT brand equals user identity” and thus promoting continuous exposure and acquiring more users.

Based on loyalty NFTs, it is easier to connect projects and users, whether it is cross-brand, cross-track, or even cross-border and cross-culture, rules can be formulated and enforced with the help of NFT on the chain. All in all, NFT can be used as a common underlying component, making it possible for brands and industries to collaborate.

By distributing tradable NFTs as loyalty proof, projects can not only directly earn the first income from the initial issuance but also potential subsequent income from royalties. At the same time, NFTs can bind their value to user interests. As holders and traders, users will increase the value of NFT and benefit from it in transactions and continuous contributions.

In the logic of Web3 Loyalty, NFT is not just an index, but as an underlying programming component. It can create infinite possibilities:

In this article, the author has listed some common Loyalty items in this track below. You can build your own NFT×Loyalty solution by creating better user operations.

a16z Tokenoloy: Why Should We Build Web3 Loyalty for NFT?

Zelta

Almost everyone has heard about Bitcoin or cryptocurrencies. These cryptocurrencies are talked about a lot but have you ever wondered what makes these cryptocurrencies work so smoothly and generate decent profits?

What is the technology that backs this decentralised network??

This technology is called Blockchain and it is often referred to as the backbone of various decentralised networks. It is said that in the near future blockchain itself is capable of changing the way business is done today and blockchain hosting is just one of its uses. Before diving deeper into the topic, let us cover a brief about blockchain for those who are new to this concept or might have just started.

Blockchain is simply a distributed database or digital ledger that is used to store any kind of information online. This electronic data and information storage system is most recognised for its work in the storage of cryptocurrencies like Bitcoin, Ethereum etc. It assists in making transactions encrypted and safe and creates groups of data called blocks for storing this information. But where can a regular person locate a place to employ or make use of this technology?

You don’t have to worry since you will have a strong understanding of where and how to save and handle all of your transactions by the time you finish reading this article.

Blockchain hosting is a method for quickly storing and managing data. It refers to hosting data in a decentralised fashion. This hosting service is peer-to-peer, making it more dependable, secure, and challenging to hack into or change. It is neither a service provided by a third party nor one that is derived from a single company.

The most desirable service is that of storing data and information in nodes, linking them, and creating chains of such nodes. The ease of saving and retrieving makes it simple for users to utilise and offers a wonderful user experience. Since many businesses now provide this type of hosting service and are moving toward a more effective and safe method of information organisation, you may discover a variety of hosting platforms for your blockchain organising needs. Some of the well-known blockchain service providers are Ethereum and NEO. These platforms offer a variety of functionalities, such as Ethereum's Ethereum Virtual Machine (EVM), which may be run on the Ethereum Network.

Because nodes are essential to hosting, this kind of service is also commonly referred to as "blockchain node hosting."

What is the need for storing transactions using nodes if we can store the data on the server as well? From where & how did the concept of Nodes come into the technology?

That’s because the technology of blockchains doesn’t have a central server for storing and organising all the transactions as it is decentralised in nature. So, to cover up the use of the server for managing transactions or ledger, the concept of storing data on your local computers or systems all over the world came in, and these local systems or computers are known as Nodes.

 Nodes are a very quick and effective component of blockchains since they can relay information about the data being stored as well as all the other concurrent operations taking place. They are used for storing the exact copy of the ledger & information about it. The user can view and retrieve digitally stored transactions more easily thanks to these nodes. Due to their decentralised mode of operation, these nodes, in addition to being quick providers, also assist users in saving time and money. There are two types of the node -

Used for storing only the headers of the blockchain & these nodes do not carry the whole weight of the ledger.

As the name suggests, these nodes are bound to carry the whole weight of the transactions & are also used for verification of all the transactions on the network.

Before choosing the type of node you require for your blockchain network, you must ascertain your needs. Then, you must get in touch with a preferred blockchain node provider that will take care of managing and storing your transaction data on the node. Because it will be difficult for you to construct and manage these nodes on your local server, these node providers are well known for their creation and maintenance of nodes. These node providers come in two varieties: those that are blockchain-specific or those that enable communication with several blockchains.

Till this point, you must have understood about nodes & their hosting in blockchain technology. Such hosting services are provided by many companies, one of them being Applied Blockchain.

Applied Blockchain(APLD) is famous for providing next-generations data centres & work with the focus of providing a boost to the infrastructural support to the Blockchain Industry. As the name suggests it works with the motive of making the application of blockchain technology smooth and efficient.

 also promises the consumers a service of Hosting, which is readily known as Applied Blockchain Hosting in the market. This hosting service provided by APLD is very famous among the consumers as it works with the concept of hosting or controlling an individual node for your network, and it takes care and looks after any kind of fraudulent activity or if the transactions are being reordered, which ultimately provides you with better security and risk management. Even though a lot of such hosting services are present around the globe, still a lot of people think why pay a service provider for the same, why don't we create something of our own? Why don't we create our server & manage it?

Yes, you can build your server, but there are a lot of things to consider before you do, such as the cost of hiring the developer who will work on it, the cost of designing the server, the cost of deploying the product locally before pushing it to a production site, and the cost of maintaining the entire server. Things don’t limit till here, the cost of making such servers is large as they also involve a third-party system for hosting them. This sums up to a million dollars. Hence, people usually prefer using Web3 providers rather than their own network.

As the opportunities and demands for Web3 node providers are increasing day by day, it is also increasing the percentage of revenue this industry is generating annually. One such major source of income for the providers is the generation of Node. The node here we are talking about is the ‘Lighting Node’ as they are known for carrying out the most efficient way of providing or holding transactions. People are generating huge sums of profit using this method, where they are keeping the cost of their nodes menial, but their nodes are highly efficient enough on the network.

These nodes are promising in terms of service as well as a great source of passive income generators, but that doesn’t mean that you can just start creating your own Nodes. As the cost of generation & running these nodes is very expensive, such a massive amount of investment is not very easy for everyone to make but it can be afforded by companies working on a larger scale.

What Is Blockchain Hosting?

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The Bigger Picture by Yash Bora

On The Bigger Picture, I interview and learn from guests experimenting in the world of NFTs, branding, content, community, & digital culture.

It's already June 🤯....2023 is seriously flying by.

Wishing all of you a relaxing and ~cool~ month ahead. I'm in Texas and temperatures are already averaging above 90 degrees.

For the month of June, I'm committing myself to one post daily on this newsletter.

 It's a 30 day challenge and I want to make sure I can hold myself accountable.

The posts will be mainly focused on web3 products, strategy & metrics analysis.

Through the challenge, my hope is that I can cover decent ground on what's popping in the crypto space. I haven't been staying up to date with all things web3 and want to get back into the game. Along with that, this will be a great exercise to flex my writing muscle again. It's been a while since I've consistently published and it's important I do so as I try to get this newsletter going! This month, I'm paying the price of entry by being disciplined.

If you're new to The Bigger Picture, welcome! Subscribe below so you don't miss any future TBP posts 🥂

Just for today I included some coffee thoughts as it's been a while since I published my last post. I wanted to give a quick update on my life and what's top of mind for me. Feel free to skip the section below if you don't care and want to get straight to the juicy metrics!

For those of you that are early subscribers and have been following my journey these past few months, you might be wondering why the heck I stopped publishing TBP podcast episodes.

Well here's why. The day after I published my 

, I tried this experiment out on Twitter where I posted 

history threads of different web3 projects

 for a few days. I started with Doodles, Cryptopunks, and a few OG NFT projects. The threads really started gaining a ton of traction and people were loving them. I eventually expanded to projects such as Uniswap, The Graph, ENS, etc. They were so much fun to write! I learned a ton about the early days of these projects.

I went through over 2000 tweets from the Punks account.

The first tweet from @cryptopunksnfts was on August 7th, 2009.

Here are the most iconic ones:

On top of that, I booked a last minute solo trip to Portugal and decided to spend 2 weeks roaming around. It was my first time in Europe and I had a freaking blast. My main takeaway from the trip was that Americans work too hard LOL. The vibes in Lisbon and Porto were so relaxing and it felt like people took life a bit less seriously there.

The traveling made it difficult to prep and record other pod episodes, so I decided to lean a bit further into the history threads.

As for what's next: I still have some traveling left till mid-July. I'll be going to Banff, Seattle, & Alaska! If anyone has been to these places, please reply with any must-do recs :) Instead of trying to stress myself out and get pod episodes in on the road, I thought it would be fun to try writing one daily post for the month of June and catch myself up on new web3 developments.

As this is the first of 30 posts, I thought it would be fitting to start by sharing my thoughts from 

a16z's recent "State of Crypto 2023" report

. Going through this post helped me reset and get back into the swing of all things web3.

Sometimes, it can be draining to filter through crypto Twitter and find all the amazing developments happening. On top of that, a barrage of bearish mainstream media articles can start to make even the most passionate crypto enthusiasts think the space is slowly dying.

So going through this report helped me remember why I got into crypto a few years ago and why I should be excited for the road ahead. Yes - prices are deep in the trenches right now but if we take a second to look past % losses, there's actually a ton to be excited about.

Below are a few screenshots and my takes on them.

It can be easy to assume that as prices go down, the activity in crypto also goes down. However, it's important to remember that each bull market brings a ton of new talented folks into the space. Let's not forget that in 2020-2021, we saw some of the brightest engineers from FAANG companies flock over to crypto.

It's also worth noting that the number of developers active on GitHub repos has stayed relatively stable since mid-2022. That's great considering the crazy year everyone in web3 has had. About a year ago, we faced the Luna crash. And 6 months ago, the FTX fiasco. Even after the demoralizing string of scams and frauds, developers have been heads down building.

For those of you active on NFT twitter, you might have heard Kevin Rose flexing that though Moonbirds were down, the dollar value of the Apes are still down more. To be honest, it was an L statement and there was no need for him to compare two profile picture (pfp) projects in the space. It should be a positive sum game.

BREAKING: @kevinrose SAID THAT @BoredApeYC IS DOWN MORE THAN @moonbirds IN TERMS OF DOLLAR AMOUNT FROM THE PEAK OF APES https://t.co/9oBgq7qJfY

His point about the projects being down more than 70-80% since all time highs is technically valid. However, the framing makes people think that most pfp communities are failing and the founders made a bunch of big promises that they didn't follow up on.

That could be far from the truth for the blue chip projects.

Doodles just announced this week they are partnering with CAMP to build retail experiences! 

Introducing our first flagship retail &amp; entertainment experience - Doodles x CAMP, launching this summer!

Through this partnership, we will grow the Doodles ecosystem by creating a real life emotional connection with thousands of new people, spanning generations.

Here's how: 🧵 https://t.co/9bbTgUiiZF

And BAYC launched a game "Dookey Dash" in Q1 that garnered activity from thousands of Apes holders.

Enjoying #DookeyDash the way I love to play: in VR 🤟@BoredApeYC #bayc #mayc https://t.co/8ENNy5JZBt

In the last year, we've seen some of the largest web2 brands find ways to integrate NFTs into their core product. In the 

 post, I dove deep into how Starbucks and Reddit were able to onboard millions of consumers into web3 without once mentioning the word NFT.

More recently, the Bitcoin network has seen a ton of NFT activity as ordinals has been gaining traction these past few months. I'm going to dive into Ordinals in a separate post and get into the tech, projects, and metrics.

In the past quarter, zkSync and Polygon both launched their zkEVMs. Solana is rebounding from a crazy downfall after their star child SBF turned out to be crypto's Benedict Arnold. And modular chain developers are heads down still building.

Regardless if you are bearish on any one of these solutions, it's pretty clear that all of these efforts are valiantly helping reduce the network load on Ethereum.

Blockchain scalability past Ethereum:

1. Rollups:
- optimistic (i.e. Arbitrum)
- zk (i.e. zkSync)

2. App Chains (i.e. Cosmos)

3. Move chains (i.e. Sui)

4. Alt L1s (i.e. Solana)

And the reality is that it's essential builders, creators, and the community are doing everything we can in this bear market to push forward innovation in blockchain scalability. In 2021, I was paying three digit gas fees liberally. I thought the fees would go down in the bear. But here I am, still paying upwards of $50 on a single transaction! Only this time, deep in the crypto winter, the gas fees sting a lot more haha.

However, it's clear that we are beginning to see a momentum shift. 7% of Ethereum fees are now paid by rollups. I'll do a separate post diving deeper into the L2 ecosystem.

It's worth calling out that most people in America, including me, forget that crypto is global! Web3 is not just for the average Joe in Williamsburg stressed out about his Arbitrum airdrop. 

In fact, the chart that most surprised me from the report was the one below! The U.S. developer share and traffic in the crypto ecosystem has gone down more than 10% since the last bear market.

Everyone building in the ecosystem must be doing so with the core principals in mind: 

an open, permissionless system that gives ownership & utility back to the users.

This has been mentioned by many folks in the last decade, but the reality is that most people in the U.S. and Europe will have a tough time realizing the importance of a decentralized system. A system that doesn't have corrupt middlemen and unfair government officials. For me personally, the closest I've felt to "hopeless" is when FTX halted transactions last November. Even then, most of the people I know, including me, were fortunate to lose a % of their investments. Not their family's life savings.

The point I'm trying to get across with this post is that at times you, me, and the next person in crypto can feel stressed out looking at our portfolio. When in reality, we have to remind each other that we are all true believers in this technology and are playing the long game. It can be tough when our friends, family, and everyone else we know are constantly making us sound and feel stupid that we are in the space even after a chaotic 2022. However, the ecosystem has survived bear markets before. And it will survive this one as well. 

If you're feeling annoyed about where we are in the space and feeling a bit pessimistic about the future of crypto, I suggest watching this talk by Matt Ridley (author of 

Personally, after reading the a16z report, I felt refreshed and excited to get back into the day to day web3 activity. There is so much going on in the space that it's hard to keep track of. In fact, I'm finding it harder than ever to stay on top of projects and new feature launches. Hopefully this post got you a bit more pumped as well! I'm excited to crank out daily posts this month and catch up with what's been happening. 

The bulls are hungry....let's feed them. I made this using Midjourney - trying to practice my prompting skills 😂. I meant for this to be way cooler but I'm tired so this will have to do.

If you have any topics, products, features, collaborations, etc. you want me to cover, please let me know! I'm always excited to hear fresh ideas. 

What are projects you've been watching this past quarter? 

Any interesting metrics that caught your attention recently?