Mistakes and controversial issues that future Terra NFT projects should learn from. This may rustle some feathers, but do reply with suggestions on how you think future projects and the community can improve. $LUNA $UST
A thread🧵 👇
A thread🧵 👇
1 / Bots sniping Google whitelist forms.
Google forms create a bigger problem for the project's team as bots flood it with fake submissions. Perhaps @terraterrapins could show us how they used a Discord Bot to link Discord IDs with wallet addresses.
Google forms create a bigger problem for the project's team as bots flood it with fake submissions. Perhaps @terraterrapins could show us how they used a Discord Bot to link Discord IDs with wallet addresses.
2 / Grindy whitelists based on Discord MEE6 chat leaderboards.
This method creates a lot of spam as more people spam messages instead of engaging in meaningful discussion, just to earn XP and a higher rank to be whitelisted. Most projects followed in @galactic_punks's footsteps.
This method creates a lot of spam as more people spam messages instead of engaging in meaningful discussion, just to earn XP and a higher rank to be whitelisted. Most projects followed in @galactic_punks's footsteps.
3 / Too long minting periods and opening the marketplace BEFORE minting has finished.
One example of this was after Terrapins' first Triple-Whitelist mint. Early minters we able to sell their NFTs at much higher prices in the secondary market even before minting was done.
One example of this was after Terrapins' first Triple-Whitelist mint. Early minters we able to sell their NFTs at much higher prices in the secondary market even before minting was done.
This caused a lot of early secondary market buyers to buy at relatively high floor prices, essentially rekt'ing them once the actual floor price was determined by the market when the entire supply was fully minted.
4 / Multi-level-marketing invite whitelist tactics.
I can't speak for everyone but I think most of us can agree that MLM-style invite whitelists causes a lot of spam within our small but growing Terra community. When @Hero_NFT_'s Discord was leaked, this caused major spam..
I can't speak for everyone but I think most of us can agree that MLM-style invite whitelists causes a lot of spam within our small but growing Terra community. When @Hero_NFT_'s Discord was leaked, this caused major spam..
in almost all the community Telegram chats with everyone posting their own invite links. Another example of this would be @WomenVsApes's invite whitelist. Personally, I would rather not spam my invite links just for a mint.
5 / My intention is not to blame any projects for these issues, but to ask "How can we as a community improve for future launches?" Future projects have the benefit of improving on what has been done in the past. I don't claim to have answers to all these issues..
but I do think we should at least learn from the mistakes of others. Only then we can improve as a community.
Do let me know your thoughts / suggestions on how we can do better. $LUNA $UST
Do let me know your thoughts / suggestions on how we can do better. $LUNA $UST
Was inspired to write this when @seanwriterio asked @crunks_nft's new community about what lessons they could learn from past NFT project launches.
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