beincrypto.com
Opepen Edition non-fungible tokens (NFTs) have soared in floor price and trading volume due to the “For the Culture” campaign. The massive surge in NFT collection is seen as a case study for using storytelling in NFT marketing campaigns.
The creativity in the Web3 and NFT space is beyond measure. And brands are coming up with ever more unique NFT marketing strategies that can ignite a sense of belonging among the 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 collection would go to ThreadGuy.
Opepen Threadition greatly impressed the community members and some of them also started to mint their own customized versions of NFTs. ThreadGuy thanked Butcher, saying:
“I’ve never felt like I made it more than I do in this moment right now.
Jack Butcher, you are an icon.”
Eventually, the trend spread as notable brands and influencers started minting their NFTs. Some put the NFT as a profile picture on Twitter, while others posted it with captions, “For the Culture.”
Companies like OpenSea, CoinGecko, Magic Eden, NIFTY gateway, VEE Friends, Trust Wallet, and the renowned NFT artist Beeple participated in the trend.
Open Edition NFTs Skyrocketed
As the “For the Culture” campaign was all over Crypto Twitter, NFT enthusiasts also rushed toward other collections from Butcher.
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Due to the success of the NFT marketing campaign, the Opepen Edition, launched in January 2023, saw revived interest from the community, bucking the challenging time NFTs have been experiencing lately. According to data from OpenSea, in the past seven days, the volume of Opepen Edition increased by 99%,sales by 51%, and floor price by 68%.
Another collection, “Checks – VV Edition,” saw its floor price increasing by 41% in the past seven days. Volume increased by 19%, and sales increased by 21% in the same time period.
How Brands Take Inspiration
Marketing may or may not have been Butcher’s primary agenda with the Opepen Threadition. But the campaign has made it evident that the concept of supporting contributors of the Web3 space may ignite a sense of belonging among the community members.
Time and again, it has been proven that a well-crafted story can transform an ordinary JPEG image into a valuable digital collection that community members can relate to.