Put Holders First

When it comes to NFT projects, many folks speculate about what it takes to be successful. But the answer is really quite simple: Put your holders first. If you do that, the world is yours. Neglect it and your project will suffer.

Remember GODA, the hot NFT project of mid-2022? The promise was brilliant: own a GODA mint pass and mint NFTs from sought-after artists multiple times a year. Everyone was talking about it, and the floor price skyrocketed to over 10 ETH. Fast forward to today, and it's sitting at a measly 2 ETH. What happened?

Well, it's no secret. GODA broke the "put your holders first" rule. The last art drop from GODA was from the impressive artist Hilma af Klint. But instead of being exclusive to GODA pass holders, the mint was open to the public in a public auction, even though GODA had promised guaranteed access to all GODA drops to its holders. This was a clear breach of promise and a putting of profits over holders, which resulted in the downfall of the project.

RTFKT is another example. MNLTH was one of the best ideas in the NFT space for months, a box that accumulates future airdrops and is fun to reveal. But instead of rewarding holders, they were forced to reveal MNLTH2, which resulted in a discount coupon for RTFKT's Cryptokicks IRL instead of the innovative content they were promised. This shift away from putting holders first resulted in a decrease in the value of MNLTH and ultimately the downfall of the project.

On the flip side, projects like Azuki and BAYC dominate the space because they never break this rule. Holders are rewarded with Beanz and Apecoin, respectively, just for owning their NFTs. These projects understand that holders are more than just investors in Web3, they are ambassadors and a project's most valuable asset.

The bottom line: rewarding holders always pays off in the long run, both for the project and the holders themselves. Projects that prioritize their holders will thrive, while those that don't will wither. Remember, your holders are your #1 supporters, consumers, and brand community, and if you treat them right, they'll promote your project better than any marketing campaign ever could. So don't hesitate, put your holders first and watch your NFT project soar!