Welcome to Collective, the Home for NFT Communities

Welcome to Collective, the Home for NFT Communities

byChristian Hardy

7/6/2022

Collective is a web3 social platform for NFT communities to empower their members. We make it easy for NFT owners with shared interests to foster genuine connections and support each other through contributions to communities they love.

In Collective v1, we’ll do this with four key components for NFT communities, on top of our already existing features:

☾☽ Token-gated social feeds

☾☽ Dynamic content home for every NFT community

☾☽ Governance with NFT ownership

☾☽ Snapshot and treasury linking

Our Purpose

Collective exists to unf*ck internet communities. 

For every NFT community, there is an overwhelming amount of information to keep up with, especially for newcomers — roadmaps, history, achievements, utility, Q&A, and everything in between. Currently, this information is scattered across web2 platforms, resulting in dissonance across the ecosystem.

For NFT collectors to deeply connect to one another and the community to be heard, we need to cut out the noise. Collective enables these communities to mobilize, build, and create from within.

With Collective, we’re giving NFT collectors the power and tools to contribute and engage meaningfully in their communities through rich social features — wallet-verified announcements, social feeds, voting, reputation, funding, creating, sharing, following. Collective puts it all in one place.

Most importantly, Collective gives NFT communities a home to scale web3-native experiences, to give people a reason to own a jpeg and help reach new audiences.

Collective’s Core Goals

☾☽ Make contributing to an NFT community accessible for everyone in that community.

☾☽ Enable NFT owners to coordinate around the power of collective digital ownership.

☾☽ Simplify decentralized communities built on NFT ownership.

☾☽ Create an organized source for truth on any NFT community.

☾☽ Streamline voting and funding for community-led NFT projects.

Our Product

Our existing platform is a global NFT data aggregator across Ethereum and Flow blockchains. As MomentRanks — before Collective — we provided portfolio tracking, NFT discovery, project data, and marketplace tooling.

We’ll use these building blocks to become the home for every NFT community. The key features that follow will be built into Collective in the v0, with many more exciting developments to come.

Token-Gated Feeds

Feeds are the hub for community discussion where members can connect and chat about what’s happening. 

Feeds are built to reward genuine, meaningful interactions through responses and reactions that are organized — not lost in the chaos of Discord. Posts look similar to Reddit or Facebook, but are tied to users’ web3 identities.

Example of Social Feeds on Collective

Every Collective has several feeds, and each feed is created with a purpose, such as proposal discussion, holder chat, alpha chat, Q&A, roadmap, and more. More feeds can be created by select team members in a project.

Community Content Home

A key part of building a web3-native home for every NFT community is creating an easily accessible platform for NFT projects to showcase what they’ve done, where they’re going, and what they’re about. Currently, this information is not easy to find; it’s scattered across web2 platforms — in tweets, Discord announcements, and static project websites.

The content home built into each Collective will serve as a living, community-created encyclopedia for NFT projects. This home page aggregates the content from across the community, from roadmap items to project founders. 

This public content layer is created to make it easy for holders to track information about a project and for newcomers to learn about them in discovery.

Governance: Built-in Community Voting

Community governance is a key tenet to decentralizing NFT communities and executing on ideas that are in the best interest of holders.

Projects using Collective will have integrated community governance via Snapshot, where an NFT equals voting power on official proposals — with or without a treasury. Governance is highly customizable depending on the needs of the community.

Example of NFT voting on Collective

Funds will be used to reward participation, fund creation, and build real long-term value for a community. Our platform makes it incredibly easy for collectors to participate with minimal effort, and follow along with activity from their friends. 

Why should NFT collectors use Collective?

☾☽ Communication and organization is easy to follow with Feeds — token-gated social channels on Collective. Every post is a discussion where holders can comment, react, and follow along.

☾☽ Track Discord announcements from all of the projects you own in one place. Once your wallet is connected on Collective, you’ll automatically have a feed with announcements from the NFT communities you’re a part of.

☾☽ Are you tired of your great ideas being drowned out in Discord? Feeds are more conducive to long-term building, and less focused on floor price. Popular posts in a community are filtered to the top of feeds, and community managers can pin posts to help filter the noise.

☾☽ Governance on Collective means you have a voice within your community. Voting is built into every community, so you have a say in where the community is headed, and can track  how your friends are voting too.

Example of friends voting on Collective

☾☽ Easily recognize potential scams or phishing attacks, which are prevalent in NFT communities. Posts on Feeds — including announcements — are signed by the sender’s wallet. Additionally, clicking a suspicious link will surface a warning pop-up for users.

Example of wallet-verified messages on Collective
Example of wallet-verified messages on Collective

Why should NFT projects use Collective?

☾☽ Everything about your community, all under one roof. We’re creating Collective to be the home base for NFT communities. This includes token-gated content feeds (similar to Reddit); a public content layer for roadmaps items, history and achievements (similar to Wikipedia); data for stakeholders around community participation; and a NFT homepage with aggregated content across communities.

☾☽ Built-in governance makes community participation incredibly easy to understand. NFT-based governance setups are currently fractured, leading to low participation; Collective puts discussion and voting in one place. Governance is flexible to fit particular communities – on-chain, off-chain, delegation, treasury linking, etc.

☾☽ Your community is protected from scams with verified posts with wallet signing. Every post on Feeds can be signed (verified) by an Ethereum wallet — no gas fees — so community members know exactly where it’s coming from.

☾☽ Collective is a web3-native platform for web3 communities. Each community member can link their wallet to show off their identity, customize their collection, and contribute to communities. No email required.

☾☽ The Collective team is always listening and learning how to best serve NFT communities. While v1 of Collective is now live, we are constantly looking to build new tooling and social features specific to NFT communities. We’re building Collective to be synonymous with a decentralized community of collectors. Listening to the builders and creators in NFT communities is paramount to reaching that goal.

Why does Collective matter?

NFTs are the future of digital communities.

Over the coming years, NFT communities will come to the forefront of digital culture, serving as a fundamental unlock for DAOs and key to onboarding mainstream users into web3.

Historically, web2 platforms have locked billions of users into walled gardens. Communities have been exploited by these extractive platforms, unable to reap the benefits of their value creation. Web3 has promise, but has historically suffered in onboarding mainstream consumers and engaging community members — until the rise of NFTs.

NFTs are a paradigm shift for digital communities for four reasons:

  1. NFTs provide a tangible, personalized layer for digital identity. As exemplified by profile pictures on Twitter, NFTs are the most engaging form of identity in web3. Many users have built their persona around one NFT.
  2. NFTs onboard mainstream audiences. Dapper Labs’ NBA Top Shot, for example, has engaged hundreds of thousands of collectors, many of whom had never touched a crypto wallet before. There have been several cultural gatherings around new IP born from NFTs through collective ownership. 
  3. NFTs generate real passion by connecting members. NFTs gather passionate people around similar ideologies or vibes. Poolsuite gathers purveyors of 80s beach vibes; Sound.xyz gathers listeners with similar music taste; Doodles gather lovers of bright colors and community ownership. There is a niche for everyone.
  4. NFTs provide a creative medium for limitless building. Shared incentives and open data birthed a Cambrian explosion of creation and remixing in the NFT ecosystem. Traditional DAOs with fungible tokens usually produce very little, as they have few cultural artifacts to gather around. As tangible media, NFTs can serve as assets for games, brand-building, in-person activations, exclusive experiences, and everything in between that the community can build on. 

Conclusion: The Future of Collective

​​We see “Collective” becoming synonymous with a decentralized community of collectors, built around collective ownership and community building. From music fans to sports fanatics to fractional NFT holders to CC0 builders: Tremendous value will be unlocked by these communities, all fueled by shared incentives and open development.

Our platform will continue to serve as a global aggregator for all NFT data — including this standardized community activity — to streamline adoption. Collectors will have one home for everything across their communities, from announcements to governance to funding rounds.

We hope to rekindle the communal flame from the early Internet, and empower individuals in web3. The next generation of web3 communities will only be limited by their imaginations.

Follow Collective on Twitter: @collectivexyz