Nov 22, 2023
In today's digital era, where social media reigns supreme, followers are not just numbers; they embody potential prospects and are crucial to the vitality of any business. This article uses 9GAG, a prominent Web2 company, as a case study to illustrate its successful venture into the Web3 space with the creation of Memeland. This initiative led to a meteoric rise in their follower count, achieving millions of followers across various social media platforms, coupled with substantial financial returns.
Memeland, a brainchild of the meme connoisseurs at 9GAG, strategically launched three NFT collections and the Memecoin token. This move resulted in a combined increase of 5 million followers for Memeland and Memecoin , significantly boosting audience engagement across multiple channels, including platforms like X and Instagram.
The Memecoin launch was a game-changer, skyrocketing their follower count on X from 893,000 to an impressive 2,000,000 in just four days – a staggering 2.2X increase.
However, the narrative extends beyond mere follower growth. This exponential increase in audience also translated into considerable financial gains. It's estimated that through Memeland, 9GAG not only broadened its audience reach but also generated substantial revenue, amounting to US$ 42 million from the sales of NFTs and tokens .
This article aims to dissect the financials and strategies behind Memeland's successful launches. We will provide insights and practical steps for businesses looking to leverage Web3 products to build communities and exponentially grow their social media presence in a financially astute way.
In this section, we shift our focus to the financial and marketing aspects of 9GAG's entry into the Web3 arena with Memeland. We will scrutinize the growth in follower counts on Memeland’s and Memecoin’s social media platforms, with a particular emphasis on X and Instagram.
In the context of Internet marketing, the customers of Memeland will be the holders of its NFT collections and the Memecoin tokens.
Please note that all figures and data mentioned in this document are estimates and should be interpreted accordingly. They are not intended for use as financial advice or due diligence material.
To give you a comprehensive understanding of Memeland's strategic approach, we have prepared a high-level diagram that outlines the sequence of the NFT collections and token launch.
This diagram acts as a visual guide to help you grasp the strategic timing and the overall impact of each launch within the Memeland ecosystem.
Diagram: Memeland Sequence of NFT Collections and Token Launch
For a more in-depth understanding of the entire Memeland launch, we encourage you to read our detailed post , which offers a thorough exploration of this innovative venture.
Memeland, 9GAG's innovative Web3 brand, achieved a monumental feat: amassing a combined 5 million followers, attracting approximately 28,000 customers (buyers of NFTs and Tokens), and generating a staggering US$42 million in revenue.
The marketing journey for Memeland began in February 2022. We estimate the total cost for developing the Memeland ecosystem (including the website, NFTs, and tokens) to be around US$500,000. Additional expenditures were likely incurred in areas such as PR, marketing, and manpower for handling marketing, collaborations, and community management. For a campaign of this magnitude, it's estimated that 9GAG dedicated a team of 15-20 people.
Over the 1.75-year campaign period, the total cost is estimated to be no more than US$1.5 million , a sum effectively recouped with the first NFT collection's sales alone.
This represents an incredibly efficient and effective marketing campaign!
9GAG's success in establishing its Web3.0 brand offers valuable insights for Web2.0 brands looking to venture into this space. Here are some strategies to consider:
Memeland's success with Questing, Raids, and Memepoints farming initiatives highlights the importance of incorporating gamified elements that transform passive customers into active community members, thereby driving engagement and retention.
Memeland’s Memepoints farming initiative works as such, individuals will be required to do certain tasks (following their socials, tagging them in posts, etc) in order to earn points and you will then get a chance to earn $MEME airdrops.
Image Source: Memecoin
Memeland's use of DAO and digital ownership principles suggests a future where customers have a stake in the business. Experimenting with decentralized decision-making models, such as allowing customers to vote on new product designs or features, can foster a sense of ownership and loyalty.
Staged releases keep the community engaged and excited in Memeland. This approach allows businesses to refine their Web 3.0 products based on real-world user feedback.
The success of Memeland underscores the importance of creating ecosystems rather than standalone products. This approach helps retain users within the brand's orbit, offering a more holistic and engaging experience.
Memeland's strategy, such as making The Potatoz a free mint in response to market conditions, demonstrates the importance of adaptability in the dynamic Web 3.0 environment. This flexibility is key to maintaining relevance and resilience amidst market volatility.
Image Source: Coin Engineer
The journey of 9GAG's Memeland from zero to 5 million followers and its remarkable financial success of US$42 million is more than just a success story; it's a blueprint for the immense potential of Web 3.0 in transforming businesses.
This case study not only highlights the power of innovative marketing and community engagement in the digital age but also serves as an inspiration for businesses looking to make a similar impact. As we've seen, the strategic use of NFTs, tokens, and a community-centric approach can lead to unprecedented growth in both follower count and revenue. The success of Memeland is a testament to the effectiveness of Web 3.0 strategies when executed with creativity, foresight, and a deep understanding of the audience.
At Marvion, we are committed to helping businesses navigate this new and exciting landscape. Whether you're just starting to explore the possibilities of Web 3.0 or are ready to take your existing strategies to the next level , we're here to guide you through every step of the journey.
If you have any questions or are keen to explore how your business can create a Web 3.0 brand , we invite you to reach out to us. Our team at Marvion is dedicated to providing the insights, tools, and support you need to succeed in this dynamic space. Contact us at firstname.lastname@example.org , and let's embark on this exciting journey together.