As the world of NFTs continues to evolve, more and more individuals and businesses are looking for ways to tap into this exciting new market. One strategy that has proven to be highly effective for NFT mints is referral marketing. By incentivizing existing customers to refer new customers, NFT mints can quickly and easily expand their customer base, increase revenue, and improve their marketing efforts.
In this blog post, we will analyze two case studies of NFT mints that used ShareMint to launch a web3 referral program and were able to drastically increase their revenue and reach.
MetaBrewSociety
MetaBrewSociety was launched by 7 friends and founders. They purchased a beer brewery in Germany and launched an NFT pass that provides benefits to holders.
They have launched a web3 referral program on ShareMint to amplify their NFT pass mint. They offered 10% of the NFT mint price, which was valued at 0.75 ETH (~$1000) for each successful referral. They were able to generate an extra 150+ ETH of revenue using affiliates, accounting for 30% of their revenue from the sale. The majority of their affiliates were existing MetaBrewSociety community. The program paid over 20 ETH to affiliates and improved their community's loyalty to the brand.
RFOX
RFOX is a well-known metaverse platform. They have used ShareMint as part of their go-to-market strategy when they launched their Apartments NFT sale. They offered a 10% revenue share of the NFT mint price, which was valued at 0.25 ETH for each successful referral. In addition, minters that were using a referral URL were entitled to up to 15% discount on the mint in the form of cash back. The discount incentivized minting and made it easy for affiliates to share their referral URLs, as minters were benefiting from using them.
RFOX were able to attract big affiliates. Their program showcased how web3 content creators can utilize referral programs to generate more revenue. A notable example is NFTsGuide which is an NFTs focused YouTube channel that amassed over 755k subscribers. NFTsGuide published a video about RFOX, discussed their referral program and posted their own referral URL in the pinned comment. The video currently has over 100k views.
RFOX have generated over 30 ETH using affiliates only.
Conclusion
Referral marketing is a highly effective strategy for NFT mints that are looking to increase revenue and improve their marketing efforts. By incentivizing existing customers to refer new customers, in addition to partnering with web3 content creators and communities, NFT mints can quickly and easily expand their customer base and increase revenue. With the right incentives and a well-designed referral program, NFT mints can tap into the power of word-of-mouth marketing and achieve success in the competitive NFT space.
Using sharemint.xyz, it is now incredibly easy to launch a web3 referral or affiliate program for your NFT mint and drive more sales by making your community your marketers and partnering with external affiliates.