Crypto Coven
A female-led NFT project
👋 Welcome to the fourth issue of The Syllabus from Invisible College – a newsletter that will help you navigate the complex world of web3. To get this newsletter delivered to your inbox, subscribe here:
Before we begin, a disclaimer – nothing here is financial advice. We’re analyzing projects that we find interesting in the hope that you’ll enjoy learning about them as well.
With that, let’s dive in.
It’s no secret that women are under-represented within the NFT ecosystem. But, that’s starting to change as a group of female-led projects has taken the NFT market by storm. Of these projects, few have captured as much attention as Crypto Coven.
Since the project’s inception in October 2021, Crypto Coven has created one of the most distinct and intentional projects in the NFT ecosystem. In this post, we’ll explore how they built such a passionate and dedicated community.
Community-Driven Marketing
Instead of focusing on growth hacks, the Crypto Coven team prioritized cultivating a strong community from the start.
As Lauren Capelin of Liminal Space puts it:
From gifting witches to first-time NFT buyers (preferencing those from under-represented backgrounds) to optimizing smart contracts to keep 'minting’ affordable, the perceived lack of boundaries to joining the Coven has kept the community strong.
While these decisions don’t resemble traditional marketing, they served a similar purpose and helped Crypto Coven grow organically through word of mouth.
By establishing a loyal membership base, the Crypto Coven team was able to:
Build a 5,000-member Discord
Lead the viral “web2 vs. web3” trend on Twitter
Promote widespread profile-picture usage
Spawn subsidiary groups like @WeirdDetectives
Lore Not Floor
If you’ve been following the Coven, chances are you’ve heard the term: lore, not floor. This mantra refers to the norm that conversations in the community should be about world-building rather than the floor price. In their Discord, any mention of price is frowned upon by moderators and community members alike.
Similarly, the Coven does not emphasize rarity. According to their site:
No aspect of a witch is specifically designed to be rare, and we don't have any tools that rank witches by rarity. we encourage you to see which witches resonate with you!
By focusing on lore, the Coven community can avoid focusing on day-to-day price fluctuations of the collection. While it seems wrong to reference the current floor price as evidence of their success, this strategy does seem to be working well for the project.
Integration
Crypto Coven puts considerable effort into thoughtfully integrating members into the community. When new witches join the Discord, they are welcomed into sub-communities to meet others who share their archetype.
Since many of their members are new to crypto, the Coven Discord includes a library channel with resources to help members explore web3 topics. As Crypto Coven moderator, Mensa explains:
There's a wonderful community-led library which includes a ton of resources about the project and the broader web3 space. 40+ witches have signed up to be librarians and help answer questions, write guides, collect resources to help onboard more folks to web3.
Anyone can visit the server and ask questions or get help! There's never any judgment and no one makes fun of anyone for not knowing anything. There's only an intention to help, clarify, and guide.
With so many Discord servers, it can be challenging for NFT projects to provide a differentiated form of value to their holders. By creating an inclusive community that caters to a specific persona of new web3 explorers, the Crypto Coven team seems to have built the foundation for a lasting community.
Want to get started with Crypto Coven?
Explore their website to learn more about the lore behind the collection.
Buy or bid on one of their NFTs on OpenSea
Other projects we’re exploring
Crabada – A play-to-earn idle game on the Avalanche Blockchain
Utopia Labs – A collaborative payroll and expense management tool for DAOs
Philosophical Foxes – an experiment in storytelling, intellectual property, and community starring a collection of thoughtful NFT foxes
Invisible College Recommended Reads
(3,3) | 8-minute read
Cobie’s latest essay explores the semi-adversarial relationship between institutional and retail crypto investors.The Pillars of Tokenomics | 12-minute read
Learn the four basic pillars of tokenomics that every investor should understand.The Ultimate Beginner’s Guide to Avalanche | 31-minute read
From DeFi to NFTs, this guide will get you up and running in the Avalanche ecosystem.
Community Updates
Invite frens → Win a Paladin
With presale registration closing at the end of the week (Friday, Feb 11th) we decided to upgrade the prizes for our top referrers.
We’ve reserved 10 Paladins for the 10 Invisible College members who refer the highest number of new people.
To learn more, check out the most recent message in the #referal-program channel of the Discord.
Starship Guild Launch
Starship Guild is the first official project to come out of Invisible College! For members who are interested in learning more about the token sale, we will be holding an info session on Tuesday, 2/8 at noon PT.
Upcoming Events
⭐ Headliner Events
Community Investment Opportunity: Starship Guild – Tues (2/8) @ 12 pm PT (Discord)
Building Communities in Fintech & Crypto w/ Parker Jay-Pachirat– Wed (2/9) @ 11 am PT (Discord)
🧠 Topic Deep Dives
How to Find New NFT Projects – Wed (2/9) @ 2 pm PT (Discord)
Defi Deep Dive on The Wonderland Fallout – Fri (2/11) @ 12 pm PT (Discord)
Learn Crypto Fundamentals – Sun (2/13) @ 9 am PT (Discord)
🙌 Community Gatherings
Invisible College Town Hall – Thurs (2/10) @ 12 pm PT (Discord)
Events Calendar
Want to get Invisible College events on your Google calendar? Just click this link to subscribe to our events calendar.
Invisible College, is a learning DAO that helps web3-curious builders and creators explore and launch projects. If you’d like to learn more about our community and get smarter about web3, check out our Discord server.
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