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In the ever-evolving landscape of Web3, building an engaging community stands as a crucial element for success. The recent forum organized by Meet Global and Bu Zhi DAO during the 2023 Meet Taipei Startup Festival, titled “How to Build a Sticky Community,” featured key representatives from prominent Web3 projects. These included Ethereum Name Service (ENS), Bored Ape Yacht Club (BAYC), and YogaPetz. They shared their strategies and experiences in fostering communities that not only thrive but also deeply resonate with their members.
Bu Zhi DAO is a nonprofit organization aiming to build a Web3 ecosystem in Taiwan and establish its presence on the global stage. It seeks to bridge resource gaps and foster community engagement. Jacky Wang, the organizer of Bu Zhi DAO, noted that the members are united by a common mission. The organization exemplifies the essence of a DAO (Decentralized Autonomous Organization), characterized by its grassroots approach, transparency, and lack of borders. The DAO structure allows every member equal opportunity to take the initiative and propose new projects. Contrasting with the top-down approach of traditional corporations, where new ideas can be hindered by hierarchies and regulations, Wang likens a DAO to an open garden. In this environment, individuals are like trees that can grow freely. “People can just explore, experiment, come and go as they please, and try to grow different ideas,” he said.
The name “Bu Zhi DAO” cleverly plays on the Mandarin phrase for “I don’t know.” This catchy and humorous name originated from the organization’s major event last year, Taipei Blockchain Week. At that time, many were not familiar with this emerging organization. When inquired about the event’s organizer, the frequent reply was “bu zhi dao.” This anecdote not only inspired the community’s name but also addressed the challenge of creating a unique identity. Wang believes that having such a memorable name is crucial for cultivating the community’s culture and fostering a sense of belonging among its members. This sense of community is further enhanced through friendly onboarding processes, regular follow-ups, and a variety of offline networking and social events. This year marks the second anniversary of Taipei Blockchain Week, with ambitious goals to exceed last year’s attendance of 2,000 people and 130 speakers.
Ethereum Name Service (ENS) is a decentralized domain naming system that transforms Ethereum addresses into readable strings ending in “.eth”. Originally launched as an Ethereum side project in 2017, ENS established its DAO in 2021, primarily targeting developers. This strategic choice was influenced by the intrinsic nature of ENS as a protocol service. Initially, it wasn’t effective to directly engage end-users. Users require a functional product, and ENS becomes truly useful only when it achieves widespread adoption, explained Jeff Lau, the core team leader of ENS Labs. By attracting developers, ENS not only taps into their existing user bases but also cultivates trust and reputation within the community. “Know your industry,” emphasized Lau, highlighting it as a critical prerequisite for building any successful community.
Leveraging its industry insight, ENS strengthens its community by engaging more developers, launching developer-centric initiatives such as hackathons and the “.eth leaderboard”. ENS’s approach is technology-focused, relying on organic marketing strategies. Developers who align with ENS’s community values naturally adopt and advocate for the system, driving its growth and adoption. To date, there are over 2.5 million active .eth names, and since 2019, ENS has generated revenue exceeding $80 million.
The Bored Ape Yacht Club (BAYC), a collection of 10,000 unique Bored Ape NFTs, was launched in 2021 and has quickly become one of the most sought-after NFT collections. Its popularity is partly due to the high-profile celebrities among its holders, creating an all-star aura for the community. To harness the celebrity effect, BAYC organizes exclusive events for its holders, such as the APEFEST party in New York and yacht parties in Taiwan. These events offer holders the opportunity to connect in real life, engaging in leisure activities. “Many holders have known each other for a long time through the community. When we meet in real life, it feels like reuniting with old friends,” shared Luke Hsieh, a core team member of BAYC TW.
Beyond serving as passports to social events, the Bored Ape NFTs also grant holders the “Made by Apes” trademarks, which can be used for their own brands and products following asset verification. Brands across various industries, ranging from fashion to food, are featuring the ape visual on their products, thereby fostering an IP ecosystem.
YogaPetz is a decentralized health ecosystem that promotes physical and mental wellness through community support and the use of its $PRANA tokens. Co-founder Kin Fung Man, inspired by his own battle with cancer in 2018, recognized the crucial role of a supportive community and established YogaPetz. Launched in August 2023, the Wellness YogaPetz NFT collection, consisting of 10,000 pieces, sold out in 45 minutes. This rapid sale occurred despite the prevailing winter season in the NFT market, underscoring the potential of the wellness sector.
YogaPetz not only supports members on their wellness journeys but also encourages collaboration opportunities across diverse backgrounds. The ecosystem thrives by utilizing community talent; for example, the lead guru and community manager transitioned from being members to core team contributors. “Our community is our best HR agency,” Kin Fung Man remarked. Beyond nurturing internal growth, YogaPetz actively seeks partnerships with other Web3 communities. It has partnered up with 25 additional Web3 communities, where its token, $PRANA, is also accepted, further extending its influence and utility.
The insights shared at the Meet Global forum highlighted the variety of strategies used in the Web3 space to build and maintain dynamic communities. These approaches range from creating a unique identity, as exemplified by Bu Zhi DAO, to understanding industry and user needs, a strength of ENS. BAYC’s strategy involves harnessing celebrity influence, while YogaPetz focuses on leveraging community talent. These methods, applicable across both Web3 and Web2 spaces, demonstrate effective community engagement and growth. Shibuya Startup Support also participated in the forum, seeking to explore collaborations with Taiwanese communities.
As Sam Altman once said, “Successful people create companies. More successful people create countries. The most successful people create religions.” A truly successful community combines the strategic structure of companies, the societal influence of countries, and the unifying ethos of religions. Bu Zhi DAO, ENS, BAYC, and YogaPetz’s experiences provide a blueprint for building influential communities in the digital era, extending beyond Web3 to the broader world.
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