Mint in the contest of Cryptocurrency has to do with process of creating a new digital asset or token. When a new digital asset or token is generated, it is said to have been minted.
Minting defined.
What is Minting Crypto?
Minting crypto is the process of generating new coins by authenticating data, creating new blocks, and recording the information onto the blockchain through a “proof of stake” protocol. Both new units of a cryptocurrency and Non-Fungible Tokens.
Perhaps, pre-minting, a project is advertised and hyped so that people would come in, buy the tokens and hold them.
As a project owner, you are advertise not to over-hype your project so that when it comes life, it does not turn out to be less than you had promised your audience. You are expected to always be in constant communication with your community or audience, bringing them to speed with all the developments. Again, you should be truthful with them at every stage.
Perhaps, pre-mint, project owners are in constant comunication with their audience through discord, telegram X and other web2 social media platforms. After mint, they are also expected to maintain same level of communication to keep the comunity busy and engaged, this consistency will help keep people there. You may also try to incentivice participants who are always active, this will help keep majority of your audience active on the platforms.
To achieve this, the project owners are supposed to lead by example by always showing up on these social media platforms, to drop updates, tweets and check on their people.
To keep your comunity engaged post-mint, you have to clearly specify the activities you intend to carry on with after the mint.
There are basically two ways, to keep your community engaged, they are;
However, there are other ways to keep your community engaged, they may include;
Owners of the project should ultilize all their platforms like Discord, telegram etc to share updates periodically, this will encourage community members to interact with each other.
Project owners should introduce a reward system for members. The more you interact within the platform, the more incentives you receive. It can be tokens or NFTs.
Project owners are adviced to organize contests or challenges that are related to their projects, this will help foster engagement. It can be the designing of new artwork for the projet or anything that is related to the project.
Announcement of things that relate to the project, like incoming features, developments or partnership should always be updated. This will certainly keep the community lively and engaged.
You can host webinars, tutorials to educate people more about the project or host AMA (Ask Me Anything) like we do here on hive. This will help promote interaction in the community.
As a founder or project owner, you are advised not to over sell or overhype your project pre-mint. Simply be truthful about the project, make the expectations of the project very clear, so that the holders will know exactly what is coming, by so doing, the outcome will not be very far from what you had sold to them.
This will make the holders happy and encourage them to remain active and continue to interact with each other post mint.
Do not go for the high-highs because it may cause you to end up at the lowest-lows which will eventually cause your holders to be sad and dissapponted with the project, hence, they will not be interested anymore about whatever is going on in the platform post mint.
Thank you.
