Open Edition non-fungible tokens (NFTs) have skyrocketed in price and trading volume as a result of the “For the Culture” campaign. The massive increase in NFT collections is seen as a case study for the use of storytelling in NFT marketing campaigns.
The creativity in the Web3 and NFT space is limitless. And brands are coming up with more and more unique NFT marketing strategies that can spark a sense of belonging among community members.
For the culture
The “For the Culture” campaign originated when NFT artist Jack Butcher launched an open edition collection, Opepen Threadition, to support the work of NFT influencer ThreadGuy. Butcher announced that the proceeds from the fundraiser would go to ThreadGuy.
Open Threadition made a big impression on the community members and some of them also started making their own custom versions of NFTs. ThreadGuy thanked Butcher and said:
“I’ve never felt like I’ve made it more than right now.
Jack Butcher, you are an icon.”
Eventually, the trend spread as notable brands and influencers started slapping their NFTs. Some posted the NFT as a profile picture on Twitter, while others posted it with the caption “For the culture.”
Companies like OpenSea, CoinGecko, Magic Eden, NIFTY gateway, VEE Friends, Trust Wallet, and well-known NFT artist Beeple joined the trend.
Screenshot of Beeple’s tweet.
Open Edition NFTs skyrocketed
While the “For the Culture” campaign was seen all over Crypto Twitter, NFT enthusiasts also rushed to Butcher’s other collections.
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Due to the success of the NFT marketing campaign, the Opepen Edition, which launched in January 2023, saw a renewed interest from the community, helping them weather the challenging time that NFTs are going through lately. According to data from OpenSea, Opepen Edition volume is up 99% in the past seven days, sales are up 51%, and bottom price is up 68%.
Statistics of Open Edition NFT collection. Source: OpenSea
Another collection, “Cheques – VV Edition”, saw its bottom price rise by 41% in the past seven days. Volume increased by 19% and sales increased by 21% over the same period.
Statistics of Checks – VV Edition NFT Collection. Source: OpenSea
How brands find inspiration
Marketing may or may not have been Butcher’s primary agenda at the Open Threadition. But the campaign has made it clear that the concept of supporting contributors to the Web3 space can inspire a sense of belonging among community members.
It has been proven time and time again that a well-crafted story can transform an ordinary JPEG image into a valuable digital collection that members of the community can relate to.
