GM, collectors! (because it’s always morning somewhere in the world)
Recently, we hosted an assembly on our Discord platform with collectors, and we want to thank everyone for attending. It was heartening to receive feedback from those who have supported us since our inception.
After gathering information from the meeting and conducting research through some tweets, we have reached some conclusions about our company. We want to inform you about some changes that will take place in the upcoming weeks.
As previously mentioned in document A001, our marketing strategy allocated a portion of our budget toward Google Ads. However, the results obtained needed to be more satisfactory. Analytics data and collectors’ feedback revealed that 75% of the conversions originated from Twitter. In comparison, 25% came from Facebook and none from Google Analytics.
Other conversion metrics, such as page views or actions on our website, showed that Google Ads had a higher CPA than other media. For example, our Facebook CPA for mailing conversion is currently around £0.10 with a 15% read rate, while Google Ads generated an average CPA of £0.30 with a 10% read rate.
Therefore, we have decided to temporarily halt our Google Ads campaigns and redirect our budget toward Facebook and Twitter. Despite Twitter’s historically higher costs and restrictions on NFT advertising, we have reached out to their team for special authorization. If approved, we will exclusively use Twitter for our NFT ad strategy. If not, we will explore alternative advertising placement and objectives.
New collection at Polygon
We are excited to announce the launch of our new NFT collection called “Kanazawa Pop” on the Polygon network. We chose Polygon because of its lower gas fees, allowing for more negotiations and a larger-scale collection.
This collection follows the format of other NFT collections, featuring repetitive art with slight variations in a square avatar format that is affordable and accessible to a broader audience. We aim to introduce as many collectors as possible to our company and generate interest in our traditional collection through this promotional collection.
As part of our promotion, we will offer giveaways leading up to the official launch in the first weeks of September 2023. We will release more information on the giveaways closer to the launch date. It’s important to note that our AirDrop and Liquidity Program benefits will not cover this collection. Still, we will offer an opportunity to join our Discord community with a special member role.
At first, the Discord server was only meant for verifying collections in specific marketplaces. However, we are now considering using it as a communication and integration channel for collectors. We are taking small actions with test funds on social media to increase the number of members.
Currently, the server is public as it was initially created. However, once the new collection is launched, it will be restricted and read-only. Only members who were active before the restrictions or possess an NFT from the standard or Pop collection can post or comment.
NFT price reduction
We have decided to reduce the price of the Standard collection from the second drop onwards. Our decision was based on extensive research and feedback from collectors. As a test, we will be pricing them at 0.2 ETH to gauge public reaction to the new values.
Please note that the Liquidity Program covers everyone who purchased at the previous price, and we guarantee to repurchase for the same amount they paid for the first drop. As a result of this price adjustment, we will be deactivating sales of any unsold art from the first drop in the next few days. However, we will reactivate it together with the second drop.
Reallocation of marketing budget and possibly new products
In the upcoming months, we will be performing maintenance on our products. We target a wider audience of non-NFT collectors, offering physical items such as posters, mugs, and action figures. Additionally, we will be doing some marketing maintenance on Facebook, specifically targeting those who enjoy reading novels.
Our goal is to expand our readership and reduce our allocation towards NFTs. These budget adjustments are necessary due to the decrease in NFT prices. Still, we are confident that we can maintain a sustainable balance.
It is important to emphasize that these changes will affect the company’s objectives in the first semester, and we will carry out the analyzes in the coming weeks and update documents and publish summaries on the objective in the first semester so that the new strategies and budgets are allocated in a real and tangible scenario.
We want to express our gratitude towards all our readers and collectors. We will closely monitor any strategic changes in the coming months to ensure the company’s health and growth without relying on equity resources. Thank you all for your continued support.