W3A PRO | How VeeFriends Revolutionizes Community Engagement
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That’s not true. But I bet I got your attention 😉
In today's crazy, busy world, that’s the most valuable thing brands are fighting for.
Gary Vee calls himself a day trader of attention. He has built a business empire by being a master at grabbing attention.
Over the last decade, most of his attention-grabbing tactics have been focused on social media and Google ads.
But in 2021, a new tech came along in the form of NFTs and Gary Vee’s spidey sense went crazy.
Because Gary saw a new way to grab attention like never before.
Today, the most common ways we engage and give our attention are by following, viewing, liking, commenting, and sharing. These are the pillars of engagement that every marketer sets their KPIs on and likely loses sleep over.
In an onchain world, the most engaging social metrics will be minting, burning, and collecting. But because we’ve focused a lot on collecting in our previous issues here and here, today I’ll just touch on the first two: minting and burning.
These actions are supercharged engagements and a far greater signal for where we should give our attention.
Therefore, minting and burning will become the most important tools in a marketer’s toolbox (along with buying/selling, collecting, airdropping, and token-gating).
The brands and businesses that master these tools will be the most successful brands of the next decade.
I want you to be successful!
Not just a little bit successful. But crazy, to the moon successful! 🚀
So in today’s report, I’m diving deep into burning.
Using VeeFriends’ Burn Island as a case study, we’re going to discuss the following:
What the heck is Burn Island?
What have been the impact and results of Burn Island?
What’s the cost to VeeFriends
What is the deflationary impact of Burn Island?
What’s the playbook? How do brands make burning part of their web3 toolkit?
What The Heck Is Burn Island?
In February, VeeFriends, the leading NFT project by Gary Vee, announced Burn Island.
Since then, 6257 tokens have been burnt! Gone forever.
The total estimated value of these burnt tokens is $840,759! 🤯
Yes, you read that correctly.
But before we get into why over $800k in NFTs have been burned, let's first make sure we all understand Burn Island.