What is the purpose of your Growth campaign?
With the upcoming release of Blockzero’s (“BZ”) Cryptonaut NFT series, AquaFi now released and the Vortex/Flash V3 on the horizon, there is no doubt that BZ has hit its inflection point and we have started to see some greater engagement, positive price action correlated to this and an overall healthier sentiment versus the start of this year.
However, I still feel that BZ could benefit from marketing growth. When I first saw these cryptonauts, I was blown away and I feel there are methods we can utilise to provide additional value creation to BZ’s portfolio of products and services via some marketing campaigns/approaches.
My proposal for this? A Lazy Lion giveaway.
Now please hear me out:
- I am a holder of Lazy Lions NFT
- Due to conflict of interests, if approved, I will not be entering (happy to have my address/twitter account blacklisted to further prove my intentions of this proposal are purely to grow BZ)
However, I want to make it fully clear right here before proceeding that this proposal is not created out of bias or my own personal gain. I hope the fact I am taking the time out of my day to create this proposal showcases that I want nothing more than BZ to be the established VC studio/incubator it deserves to be and through being a member of the Lazy Lions community, I have seen a few things:
- 4.6k unique owners
- 87k discord members
- 47k twitter followers
- Some record sales (99 ETH ~336k at time of sale, 19.69 ETH ~60k at time of sale and 17.5 ETH ~54k at time of sale
- Celebrity/Influencers own Lazy Lions (some examples: Dez Bryant, Josh Hart, Jake Paul, Faze Tenser, Arizona Ice Tea, Jordan Belfort and many others)
- Over the last 30 days on Twitter, around 19,233,392 users have been reached by the Lazy Lion community
- 13,360 mentions and 37,743 interactions (over past 30 days)
Please note I have attached to this proposal, an infographic which breaks down the above metrics on twitter engagement in more detail, as well as a marketing/branding fact sheet created by Lazy Lions which supports the above figures. (See photos at the bottom of this proposal)
What can we gather from the above data?
That the Lazy Lions community has grown tremendously since inception in August 2021 and its community/brand appeal alone can be considered a highly valued marketing tool.
What we are seeing more and more now in the NFT space is that the communities of popular NFT’s can be used as a marketing tool for companies, influencers (as the above figures show).
Evidence of previous Lazy Lion Giveaways:
I did some digging on Twitter to find previous Lazy Lion Giveaways to get some sort of metric of how popular/engaging these tweets were and the following are from giveaways that have occurred in the recent weeks/months (attached for evidence):
- 1,470 retweets/likes and 31 quote tweets (29/08/21 giveaway)
- 788 retweets, 647 likes and 14 quote tweets (07/11/2021)
- 613 retweets, 585 likes and 6 quote tweets (29/09/2021)
- 1,850 retweets, 855 likes and 17 quote tweets (27/09/2021)
Support for the above figures:https://twitter.com/tr8ffic/status/1432028674560303104?s=21
Was this data shows is the demand for wanting to obtain a Lazy Lion has grown (ie: the giveaway on 27/09/21 has higher engagement than the 29/08/21 one showing scarcity and demand in action)
As such, I feel if BZ did an NFT giveaway of a Lazy Lion, it would be great, reasonable cost marketing campaign to spread awareness of everything BZ does and would also spread awareness of the recent upcoming NFT cryptonaut auctions/minting.
Now a question you may have?
“We did a campaign similar to this when we gave away a Tesla and the results were not successful”
This is where I believe giveaways are subject to the law of diminishing returns. A giveaway USD value can only go so high before the value is irrelevant to the amount of impressions/engagement the giveaway generates. Ie: You could argue that if we gave away $10k instead of the $35k for that contest, we would have still had the same engagement due to the diminishing returns.
My proposal particulars for the giveaway and how we can ensure BZ benefits from long term value creation from this giveaway:
- Start Date: TBD based on if this is approved by the council/community – ideally it would be good to launch during the ongoing Cryptonaut wave auctions as this will create direct synergies with the NFT community
- End Date: TBD as above, but I would suggest either a 2 week or 1 month duration of the giveaway (open to discussion)
- Entry requirements: A BZ tweet where users will have to like, retweet, follow BZ Labs twitter account AND comment stating what umbrella project of BZ is there favourite and why (ie: Aquafi, Vortex, the NFT’s), I think this requirement is key to creating healthy community discussion and ‘forces’ entrants not to do a quick like/retweet and be gone, but it forces them to actually look on the BZ website to research and this increases the conversion rate from giveaway entrant to potential BZ citizen
- Perhaps also to the above, they need to join the Discord? (would increase likelihood of a conversion to citizen)
I feel the above is a good base to do creating a successful and engaging giveaway, however as the above statistics on the Lazy Lions show, this is a huge community with so much marketing potential and I feel we could drive value creation even further by offering reasonable and fair incentives to Lazy Lion Holders to encourage them to become a Citizen.
How could we accomplish this in a fair and reasonable manner? Here are my current suggestions (open to discussion) but the base model would be:
- If a Lazy Lion holder purchases any BZ related token (be that a Cryptonaut, AquaFi or XIO) then they are eligible for additional incentives
The above can be verified through Etherscan by checking if the purchases during this time frame hold a Lazy Lion NFT
If they meet the above criteria then they are eligible for further incentives besides just the entry into the raffle (which anyone can enter, LL holder or not). These incentives could be:
- An additional entry into the existing Lazy Lion giveaway
- Perhaps an entry into a Cryptonaut giveaway? (BZ could giveaway a Cryptonaut exclusively for LL holders who meet this criteria so it’s an added incentive to fulfil the above criteria)
- A simple bonus 100 XIO (if they meet the criteria, at the end of the giveaway duration, all LL holders receive a bonus 100 XIO for supporting the BZ ecosystem)
Another question you may have: “People will game this and buy a trivial amount of all BZ tokens to earn the bonus amounts, then sell the day after the contest ends resulting in a net drain to XIO”
A reasonable question and one that can be addressed in my opinion by:
- Minimum USD spend (deemed at the date of purchase – can be verified on Etherscan) of $250 (open to discussion)
- The above makes it harder to game the system as to be awarded your 100 bonus XIO, you’d need to make a $250 purchase on any of BZ’s products
- Enhance holding by perhaps offering an additional 100 XIO ontop of the existing 100 XIO if you hold that specific BZ purchase for 1 month after the contest officially ends (can be verified through Etherscan if the amount stays in the wallet that purchased it)
Lazy Lions have one specific trait which I feel is the perfect match for BZ to giveaway, which is the Ethereum Spacesuit. What better pairing than a Ethereum Spacesuit Lion and a BZ ecosystem created around the concept of Space?
I know the above is quite lengthy but I wanted to consider all avenue’s and show the BZ community that I am passionate about BZ (long term holder since the BOMB days!) and I genuinely believe the above model (subject to a few tweaks/community discussion) could be a really great marketing boost for BZ and with the above mechanics I’ve suggested, it transitions the giveaway from your standard “like/retweet then never look at BZ again” to “like/retweet and researching into BZ / incentivising to even purchase some” with the ultimate aim of this campaign being to convert as many entrants into BZ Citizens as possible.
How will you measure the success of your Growth campaign? Please provide clear, objective metrics.
The key metric in my opinion is conversion of entrants/entries to BZ Citizens. Although there will be some entries that are already BZ citizens, I believe key metrics to measure would be:
- Number of XIO and AquaFi holders as of Contest start date, contest end date and 1 month after contest end date
- XIO price before and after the contest date (an increase in price would support the logic that we are achieving an average higher sales volume/buying pressure due to the giveaway versus without a giveaway at all)
- Daily XIO volume during the contest versus XIO volume before the contest
- The changes in BZ’s twitter engagement impressions as well as twitter followers
- The number of Discord members pre contest vs post contest
- Open to discussion to hear more/tweak the above
What is the GRAND TOTAL amount of tokens you need to perform this campaign? Where will these tokens come from? (Example: 1,000 XIO tokens from the Vortex or 5,000 FLASH from the FlashCommunity fund)
As of now (10/11/21) if we went with a floor lion to giveaway (non-spacesuit) this would cost 0.98 ETH which would equate to $4,612 or 24,300 XIO tokens
If we went with a spacesuit lion (as mentioned above) then this would cost 2.99 ETH which would equate to $14,065 or 74,112 XIO tokens.
I would propose we draw these funds from the Vortex/Treasury Wallet.
Out of the GRAND TOTAL amount, how many of these tokens are to be used to perform the campaign?
The full amount being the cost stated to acquire the Lazy Lion to giveaway.
Out of the GRAND TOTAL amount, how many of these tokens will you keep for yourself as compensation for the campaign?
None and as noted above if approved to go ahead, I will be requesting my address/entry to be blacklisted to clear all bias/conflict of interests that be present here.
How will the tokens be used to perform the campaign? Give a breakdown.
Answered as above.
How long will this campaign last? Please provide expected start and end dates.
Answered as above. Current proposal is to have the contest last either for a 2 week duration or a 1 month duration and if possible, during the ongoing Cryptonaut NFT wave/minting auctions to maximise synergies/conversion of entries to purchase a Cryptonaut.
How can we measure the success of this campaign having a positive successful impact?
I feel this will be achieved via achievement of the above key metrics.
Are there any other individuals working on this campaign with you? If so, who are they and what are their roles?
Who will be the person primarily responsible for this entire proposal, to manage it and ensure it is completed every step of the way?
I feel this is best placed discussing with the community. For the campaign to be most successful I believe it would make sense to have a BZ Core member to run the campaign (given they have access to BZ’s twitter accounts and so forth) and I would propose (if available) to hire Umar/Steve for the process of extracting/analysing the Etherscan data in relation to the additional incentive entry requirements.
I don’t believe myself running this campaign/a non Core BZ citizen would be suited for this and given the monetary value ‘on the line’ for this giveaway, although perhaps considered immaterial when viewing the entire BZ treasury, I still feel this campaign will generate the most long term value creation if run from the internal core team.
What ETH wallet address will you use to receive the tokens?
TBD, I would propose this is done on a BZ Core/Multi-sig address to avoid any doubt of mis-use of funds (not that I would!) but I believe this would be for the best interest of the community as trust is difficult in the Crypto space.
Any last thoughts, comments, or questions you have for the Citizens? Share them here. Be as detailed as you would like.
No further comments, any other questions you have, please comment and share your feedback. I hope this proposal will be considered as I truly believe this will be a great catalyst for the BZ Ecosystem!