FEATURED ARTWORKS OF THE WEEK
This piece is a part of Allan Linder’s latest collection, the Eternal Energy series. Energy cannot be created or destroyed, it always was, always has been, everything that ever existed always exists, it’s moving into form, through form, and out of form.
“Your life right now is a mirror of your past thoughts. What will your life look like with your future thoughts? Today can be the first day of your new Thought Creation.”
Collaboration and Competition in Web3 Communities:
A Deeper Dive into Collaboration
This week, our community manager does a deep dive into the importance of collaboration in Web3. Check back next week as we explore the value of competition.
Dynamic, collaborative communities are the backbone of successful projects in Web3. As they grow, they breed a new level of competition that is a driving force of the decentralized space. Empowered individuals with a refreshed sense of autonomy push for a more equitable and sustainable society through collaborating with like-minded parties who agree the future of the web can be better by being different.
Look no further than Bored Ape Yacht Club to understand the power in a forward-thinking community. The de facto rockstars of the NFT space have cultivated a billion-dollar ecosystem around viral images of bored apes. As they creep toward a million followers on Twitter, it’s impossible to ignore the chatter around the project and between community members. Holders relay news and updates via social media in real time, and you’d be hard-pressed to find an alternate faction without at least one Ape or Ape variant profile picture on display. The community creates their own merchandise, holds Twitter Spaces and AMAs for those entering their corner of the Metaverse, and continually propels the project to the top of searchable trends.
But do these benefits only favor NFT collectors? An NFT co-op project that predates Bored Ape points to no.
The demonstrated history between partnerships and building social capital paints a picture of exactly how imperative these bonds are to constructing a prosperous project in the NFT space that can be beneficial for artists. In early March of 2021, a 100-strong force known as “The Ultimate Artist Collaboration” not only minted out within minutes but crashed the platform hosting the project. The catch? The initial drop was anonymous, only hinting that there was a mix of both well and lesser-known artists in the partnership.
Project curator, Loopifyyy, released his initiative with the aim to explore the way smaller collectors and artists value artwork. Reaching out to 100 artists with a 10-day deadline and 3 genres to choose from, Loopifyyy rallied a community of creatives around the project. The genesis launched at 0.3 Ethereum and has amassed 112 Ethereum in volume. While this number may seem lower in comparison to large names like Bored Ape, CryptoKitties, or Crypto Punks this specific instance of relative success is noteworthy as the project invited artists who would not have otherwise had an opportunity to enter the space due to problematic limitations like high gas fees, limited visibility, and inexperience with the necessary technology. There is potential in the collective.
Projects that combine thoughtful leadership and a community willing to offer up its collective strength will more often than not succeed in the space and will continue to prove the value and, indeed, the necessity of creative collaboration.
While the consensus agrees that the collaborative aspect of developed communities is what fosters the sense of niche inclusivity that is a defining factor of Web3 over its predecessors; that same tight-knit atmosphere contributes forward momentum by pushing competing projects to prove themselves worthy of community support by creating and embracing utility.