Despite the recent market headwinds in the cryptocurrency industry, community-driven projects have been thriving. One such example is Arbitrum’s native governance token ARB, which recently launched with much anticipation.
The launch created a buzz within the community, as hundreds of thousands of eligible users and DAOs tried to claim the token. However, the high demand caused the airdrop claim page to crash shortly after its launch.
The power of community engagement in crypto projects
Despite the challenges of the crypto market, community-driven projects like Arbitrum continue to succeed. This is a testament to the power of transparency, inclusivity, and community engagement within the industry.
Arbitrum is not the only project that has mobilized massive audiences in recent months. Core DAO, a layer-1 protocol, distributed 1.2 million tokens to individual users through a token airdrop even before its mainnet launch.
The project had already garnered over 1.6 million Twitter followers and over 215,000 Discord members. The success of these community-driven projects demonstrates the importance of community engagement within the crypto industry.
According to Core DAO contributor Brendon Sedo, community ownership and inclusion are essential goals for any successful crypto project. Sedo also highlighted the importance of transparency and the distribution of information across a variety of platforms.
Community-driven projects extending beyond token distribution
Community-driven crypto projects are not limited to token distributions and airdrops. Web3 games and metaverse platforms have also seen significant growth due to community engagement.
Aftermath Islands Metaverse, a virtual world, generated nearly 4 million resource pack NFTs in just 140 days after releasing its first play-to-earn game. The platform also saw its last 1 million users added in just 15 days, demonstrating the power of community engagement.
David Lucatch, the managing director at Aftermath Islands, emphasized the importance of community engagement in creating a successful platform.
He noted that their focus was not on the number of users but rather on the users’ activities within the platform. The platform’s resource pack NFTs represent real ownership of items that can be traded or used in different ways within the platform as personal items.
The success of community-driven crypto projects is a testament to the strength of the crypto community and the industry’s potential to create decentralized, transparent, and inclusive projects.
With the continued growth of community-driven projects, it is clear that the importance of community engagement in the crypto industry is here to stay.