🌟How to build Meta for a crypto infra project?🌟

Apr 22, 2024

Recap:

In my previous blog post, “What kind of DApp do we need?”, I shared my thoughts on the key components of a successful application: Product, Culture, and Tokenomics

.I had forecasted that Meme tokens would become a trend in this cycle. This prediction was made months before the Meme seasons of 2024, during a time when every public chain was in the process of developing its own memes.

So the question is :

Why certain public chains buzz with lively activity and an abundance of meme tokens, while others dwindle into ghost chains, notably after an airdrop?

Before we jump in, let's get to know this concept first: "Meta."

What is “Meta”?

Probably you’ve heard millions times of “Metaverse” or “Meta”(Facebook), but what does “Meta” actually mean?

In computer games, “Meta” usually refers to the broader strategies which are seen as the best. You find the “Meta” stepping outside of what is directly experienced within the match and looking at the wider context.You can easily win each computer game if you know its “Meta”.

For example, you can get unlimited arrows in Zelda:Breath of the Wild by shooting arrows at your house after your bow caught fire. This is one small Meta in the game.

Another “Meta” in the video games is like all the Ban-Pick session of MOBA games(such as DOTA, LOL). You should conduct a deep research on the game version with the heroes’ latest stats and also know your rival’s edge while understanding the win-rate of each hero character.

How to build the “Meta” in crypto?

In the context of a crypto project building its own ecosystem, akin to public chains, we can compare it to a country or even a city. The "Meta" of this entity could be considered its culture, which comprises elements such as language, history, art and more.

An excellent example is Berachain. This public chain originated from an NFT project, with founders who are passionate about algostables. They have possessed the knowledge to construct the "Meta" for a public chain as one of the best in the industry. We’ll take Berachain as a frequently mentioned example in the following passage.

Name and Mascots

Consider a memorable name for your public chain, such as Berachain. A name inspired by an animal is not only easy to remember but also consumer-friendly as it lessens the technical aspect.

If your brand already carries a technical or geeky name, consider adopting an official mascot that embodies a charming animal image.

Solana has dogs(Dogwifhat,Bonkinu) and cats (Wen, Meow).

Monad has a purple hedgehog named Molandak, serving as its mascot.

Crypto industry is full of technical terms and numbers which makes people boring, so we want more cute pets and animals.

Language

Language is the soul of a culture.

When you use language that only your community understands, it strengthens the bond among its members. It can feel exciting and exclusive to speak a language that only a certain group of people comprehend.

Just as in the magical world of Harry Potter, wizards can shout magical spells, but muggles cannot.

The Berachain community uses "Ooga Booga" as a way to say "Hi" or "GM", mimicking the sounds made by cavemen.

Jesse Pollak, the founder of Base Chain, consistently used the term "Based" when retweeting various eco-projects associated with Base Chain. Consequently, "Based" has become an unofficial slogan of the Base Chain. And “Based” also refers to “Dope” or “Cool” in the Base chain community.

Here's a fun question: a project has written its slogan in cipher text. Can you guess what it means?

The answer will be revealed at the end of the article. (Tips: find the cipher book in the following picture)

Community and Applications

Just as a country’s culture is not generated by its governors, the "Meta" of a crypto project typically can't be solely devised by the core team or foundation.

How to get the community be involved? One aspect is to bring users to non-defi projects.

DeFi projects primarily focus on APY, with complex calculations, attracting mainly liquid hedge funds, savvy whales, and airdrop hunters. If tokens are airdropped or the APY decreases slightly, those users tend to migrate to areas with higher yields, as their primary loyalty lies with DeFi earnings.

The Base Chain set a strong precedent with its bootstrapping initiative called Onchain Summer, which lasted for one month. The NFT collection campaign involved over 50 renowned brands, creators, artists, and builders, spanning areas such as onchain art, gaming, music, and more.

Additionally, its flagship application, Farcaster, is an on-chain social network that offers an open space for sharing thoughts, not limited to crypto.

That's why the community will organically generate meme tokens such as "Degen".(See what makes Degen to $1B in three months at my previous blog:https://www.noweb3.ai/p/what-makes-degen-a-1b-project-in)

In terms of community engagement, the impact of key influencers is undeniable. Rather than targeting established influencers who are already popular, it may be beneficial to encourage your core community members to become influencers. This approach allows them to grow alongside the project.

What should be ready before building the “Meta”?

Construct a cheap and reliable infrastructure.

For an average user, encountering a swap gas fee over $10 or a bridging fee up to $50 can be daunting.

A more affordable gas fee additional with easy to use bridge(centralized or decentralized) would facilitate a smoother onboarding process for users.

Give some free candies to your users

Users often find it frustrating to complete numerous Odysseys without receiving any rewards. It's important to align the launch of your official token with exchanges or major partners. Consider introducing a test token or complimentary NFT through fair launch methods as an alternative.

For instance, Jupiter initially rolled out a meme token titled "Wen" prior to the official token launch. The freely airdropped token now boasts a value of 174 million. Similarly, Hyperliquid also distributed its meme token call “purr” before its native token.

Another example comes from an Asian team, Bitmap Tech. They launched BRC-420 with an initial minting price of just 0.1 USD, and it reached a peak price of nearly 0.8 BTC (around 50,000 USD). Starting with an NFT collection, the team launched its own Bitcoin Layer2 Merlin, which has over $3B in Total Value Locked (TVL). I refer to this as the "Asian version of Berachain."

To put it succinctly, I've developed a triangular model(yes, another one) to illustrate the construction of "Meta". The following diagram presents the interplay between community, culture, and non-defi products.