How data is utilized in the Mocaverse project initiation process

Date: May 2023

Data Source: Mocaverse Realm Ticket Collection Airdrop & Mocaverse Optimizes an NFT Project at Launch & Beyond

NFTs are the foundation of the Web3 community. They serve as tickets to blockchain games, DAOs, and metaverses, as well as digital representations for community participants to build and record their experiential journeys.

The incubation and launch of NFT collections can demonstrate a company's ambition to enter Web3. A strong collection will be the cornerstone of building a vast metaverse with other collectibles, tokens, and assets worth billions.

How do experienced Web3 teams launch NFT projects? In this article, using Mocaverse as an example, we will introduce how to leverage on-chain data to kickstart projects.

Through several phased activities launched from January to March last year, the leading blockchain company in the world, Animoca Brands, introduced its first membership NFT collection, bridging communities within and outside the existing ecosystem. Mocaverse aims to unite the Web3 community, bringing together various projects and personnel in Web3 to exchange ideas, learn, connect, play games, nurture a vibrant Web3 culture, and build a better future for Web3.

Key to the success of NFT projects: product, marketing strategy, and execution. To ensure the timing and strategy of the effective airdrop of Mocaverse Realm Ticket Collection and the launch of Mocaverse NFT, Mocaverse uses real-time on-chain data to plan their airdrop in January and monitor their NFT token minting activity in March. Industry observers and brands considering launching their own metaverse projects can learn from this initiative.

How Mocaverse Sparked Interest in NFTs Through Airdrops

Mocaverse was introduced for partners, employees, friends, and teams of the Animoca Brands. This includes

• Institutional and retail investors
• Employees of Animoca Brands and its subsidiaries
• Management teams of companies in Animoca Brands' Web 3 investment portfolio
• Partners of Animoca Brands

Intentional or not, this NFT collection targeted at specific groups has sparked interest in a wider community based on perceived scarcity and exclusivity.

Therefore, on December 30, Animoca announced the fifth category eligible to receive NFTs - the Mocalist members. This is a category of community members and supporters defined by a weighted calculation of token holdings, NFT holdings, and community activity.

In other words, those with tokens and NFTs related to Animoca in their wallets, as well as those involved in these communities, will have the opportunity to receive NFTs.

Each ticket allows the holder to enter Mocalist registration and potentially qualify for minting NFTs.

Footprint Supports Mocaverse Realm Ticket Airdrop

Footprint assists NFT project brands in utilizing on-chain data before and after airdrops to expedite the planning process and enable them to analyze the effectiveness of the event afterwards.

Prior to the airdrop phase, Footprint supports Animoca Brands in accurately and massively creating snapshots of user holdings in their brand's projects. These snapshots yield valuable statistics and key insights.

For instance, the blue-chip holder snapshot shows how many wallets hold which assets corresponding to how much value.

By examining registered users and blue-chip NFT snapshots, Mocaverse can visualize the cumulative investment portfolio value of participating wallets.

Post-airdrop, Footprint data aids in understanding the direction and positioning of Mocaverse. Through the use of analytics dashboards, the Mocaverse team can track changes in transaction prices and volumes, buyer and seller quantities, and distribution changes over different time periods.

Footprint Growth Analytics also assists in analyzing transactions and event logs with multiple custom dimensions. For example, are holders accumulating more "Real tickets" to qualify for Mocalist? Is the distribution of holders becoming more scattered, indicating successful public interest?

Using Data to Continuously Optimize NFT Project Marketing at Launch and Conclusion of Events

A successful NFT minting event must build momentum during minting and generate buzz within the community. Therefore, monitoring social media activity and sentiment surrounding the event is crucial, especially on Twitter - a key platform for Web3 projects.

Mocaverse observed fluctuations in Twitter follower counts and activity before and after minting. This data enables the team to determine when Twitter followers are most active.

Recognizing the importance of social data in Web3 marketing, Footprint Analytics plans to enhance capabilities in this area, including identifying Key Opinion Leaders (KOLs) and their project interests, and analyzing their ability to reach community users.

Another purpose of analyzing and visualizing on-chain data during minting events is to understand holder distribution, their quantities, and strive to maintain a healthy community. When NFTs are concentrated in a few hands, it is not fully decentralized and diversified, hindering community growth. Conversely, an ideal holder distribution may fall between 30%-65%.

Every project has its whales, whose actions significantly impact sentiment and prices. Therefore, Mocaverse studies whale users and top holders to analyze and understand their actions. On Footprint, tracking can also be done on wallet addresses' ENS names.

Footprint also analyzes the "Diamond Hands" user group of long-term holders. Using the Footprint dashboard, analyzing the duration of holdings allows Mocaverse to ensure they have a sufficient number of quality holders and identify and reward them in a timely manner.

Mocaverse's team also observes community growth by analyzing the number of new wallets in sales and transfers. A healthy holder composition should have a balanced distribution from all sources, and several charts aid in understanding holder behavior. For example, the following chart illustrates what recipients are doing in relation to NFT collections, such as whether they are selling their NFTs, buying them, transferring them to another wallet, or a combination of these actions?

Lastly, Footprint Growth Analytics includes analysis of common holders, showing what other collections Mocaverse holders also possess. The Mocaverse team leverages this as a springboard for researching potential collaborations and gaining further insights into holder preferences.

Equally important, the Mocaverse team utilizes Footprint to analyze royalty data. Given Mocaverse's proactive approach in supporting creators' royalties, they aim to understand how much royalties the project has earned and, more importantly, their sources. According to Animoca Brands' Chairman Yat Siu, providing royalties to NFT creators is crucial for a decentralized and democratic ecosystem. This helps fairly distribute value to contributors and creators, fostering value creation within the NFT community.

Each project is unique, and Footprint Growth Analytics (FGA) can transform any on-chain data into insights with its flexible data framework. Currently, different Web3 marketing activities take various forms, with the tool focusing on user segmentation and lifecycle management. Projects can:

• Identify target user groups before airdrops
• Select users eligible to participate in activities
• Check the activity participation status of eligible users

Beyond analysis, FGA allows projects to offer free minting or airdrops to whitelist winners and detect bot activity. Throughout the minting/airdrop event, FGA supports real-time tracking of key data such as minting and transfers.

By continuously monitoring NFT projects, including social data and price activity, project marketers can gain ongoing insights into their community and product lifecycle.