Eduard

Posted on May 31, 2022Read on Mirror.xyz

The brand-community relationship grows stronger. The power of the community is finally acknowledged.

Community... a concept I adore and have always believed in. I've always assumed, and keep believing, that without a community, no business or initiative can succeed. They serve as the foundation and growth for everything that is being built in the world. I have a community of people who read or follow my work regularly; Walmart has one, Apple has one, Supreme has one, you have one, and the list goes on. Everyone and everything has a community. They would not be who they are today if these communities did not exist.

If we haven't already, we are about to enter a period that will fundamentally alter our world. Web 3, NFTs, Blockchain, and other emerging technologies will disrupt many industries. The technologies described above are decentralized, which means there will be no centralized authority to rule over us. Nothing will function in the future era unless businesses and initiatives "can" function without a strong community.

Things built entirely in the Web 3 space will undoubtedly work on communities. If your project lacks a strong community, it will not survive in this space. This is why the power of communities is finally being recognized by many people who are active in the space and those who are about to enter it.

As stated in the introduction, every brand we know today has a community. Today's businesses and those that are about to launch can use these technologies to develop new ways of engaging with their communities and strengthening their bonds with them. Creating new experiences, new ways to reward them for their ongoing support, and many other things will be made possible by NFTs & Co.

I'll give you two examples of brands that demonstrate the value of community and why you should build with and for them in the following lines. Neither of them would be where they are today if they had not created for their communities and received consistent support. One is from the NFT space, and the other is from my beloved culture, streetwear.

Let's start with the rebellion:

Any NFT project with a strong community will be successful. There is no reason why a project cannot reach incredible heights if it is developed with the people in mind and for the people. Consider the Bored Ape Yacht Club (BAYC), one of, if not the, most popular NFT projects. Aside from their art, which is great but not spectacular, what they do for their community is outstanding. This is one of the reasons, in my opinion, why the NFT project, which is now a brand, has been so successful. They've grown so large as a result of their constant efforts and contributions to its society.

Consider that after the Ape Coin Airdrop, if you had 1 BAYC from the start with all of the previous Airdrops, you would have had $800,000 in that day. We can think about it in the following way: Yuga Labs, the creators of the Bored Ape Yacht Club, offered its followers $800,000 in addition to the other experiences that they continue to provide. Of course, with such rapid growth, many people disagree with everything they do, but in my opinion, looking at the big picture, they've done a fantastic job for their people.

There are other projects, such as the Bored Ape Yacht Club, that are built for the benefit of their people, but now is not the time to discuss them all. All I want to do is mention Gary Vee's project, VeeFriends. This is a project that I admire, and if you haven't had a chance to look it over, I recommend you do so. It is a must.

Now that you understand why communities matter in the NFT space and how one brand became so big because of its dedication to creating for its people, it is time to move on to streetwear.

Bobby Kim and Ben Shenassafar, law school friends, founded The Hundreds in 2003. It began as a T-shirt blog and in 2011 was named the fifth-greatest streetwear brand of all time. This claim, in my opinion, cannot be denied by anyone familiar with streetwear culture. When I first became interested in streetwear heritage, I wanted to learn more about what it means, how it is expressed, and how it has evolved, and when I came across The Hundreds, I immediately recognized that streetwear is in its name, foundation, and work. They, among others, are a representative of this culture.

B&B’s brand has been in business for nearly 20 years and is one of the most established streetwear labels. They've thrived for so long, in my opinion, because they've always put their community first, preaching stories, creating meaningful and expressive designs, and collaborating with businesses, not for the "name," but because they enjoy it. I admire and respect what they've done for this culture and how they're continuing to advance it.

The Hundreds' NFT project, Adam Bomb Squad (or ABS), was launched on Friday, August 27th, 2021, and it was a watershed moment for them. ABS has approximately 25,000 possible bomb combinations. Adam has become the face of The Hundreds as well as a streetwear generation over the last 15 years. He appeared in Pixar films and scaled the tallest billboard in Times Square. Because Adam is one of the most well-loved and recognizable fashion mascots, it was an easy decision to create an NFT collection with him as the main character. The next step in Adam Bomb Squad representation is NFTs. You'll get free T-shirts, early access to new releases, "allow-listing" for future NFT projects, additional promotional merchandise, and more if you own one of the Bombs. I'm not sure why someone wouldn’t want to own an Adam Bomb.

What piqued my interest the most when I learned The Hundreds was producing an NFT collection was my understanding of how the streetwear culture was evolving. They would undoubtedly bring something new to the streetwear and NFT markets, and I was correct. Initially, they offered exclusivity by using NFTs to provide holders with early access to drops or by providing owners with free T-shirts and Gift Cards, among other things. To accomplish this, their website was tokenized to distinguish who is and is not a holder. Preaching and attracting more people to this new space, as well as exploring ways to incorporate streetwear into NFTs and vice versa can only benefit both communities.

Even though it was founded 20 years after Stussy, The Hundreds is one of streetwear's pioneers and OGs, and since the day they started their NFT project, they've become streetwear pioneers in this space as well.

The Hundreds' ABS project would not have survived if they had not spent nearly 19 years building a community and constantly creating and telling stories. ABS is expanding, and Bobby is making an impact in the NFT space with his great vision and long experience from his life in streetwear.

As stated in the introduction, communities are an essential component of any business or project. Whatever you create cannot thrive in the absence of a community. New ways of engaging with communities and strengthening the relationship between the brand and its society will be created as a result of NFTs and other technologies. It is now that their power is finally recognized.

Brands that use these technologies as smartly as possible, even if they are new to the market, have the best chance of thriving in the long run, in my opinion. As is customary, I'll end with a question that I'd love to discuss with you on Twitter:

  1. In your opinion, how important is a community to a brand or project? Why?

  2. Do you think brands can thrive in the absence of a community?

    Thank you very much for taking the time to read this!

    Have a fantastic day!