Discord Enters the Scene

Launched in 2015, Discord began as a free voice and text chat application primarily for gamers. If you’re familiar with Slack, think of Discord as its more eccentric cousin.

As we step into 2022, it’s evident that those once labeled as “nerds” are now shaping our world. Initially designed for the gaming community, co-founders Jason Citron and Stanislav Vishnevskiy crafted an efficient communication tool tailored to their audience.

Discord allows users to engage in voice and video chats, send private messages, and join groups known as "servers." While it gained traction among gamers, Discord has evolved into a platform for anyone seeking connection or a community. Users can create their own servers focused on specific topics and invite others to participate.

Understanding NFTs

To grasp NFTs, it’s essential to know that they are blockchain-backed digital assets. The concept of non-fungible tokens denotes items that are irreplaceable due to their unique characteristics. For instance, while Ethereum (a cryptocurrency) is fungible—meaning 1 ETH equals another—Pokémon trading cards are non-fungible.

I still remember trading my treasured Charizard for a Geodude back in 2002—an exchange I deeply regret. Physical trading cards face challenges in preserving their value, and ownership can be tricky, as marking them can diminish their worth.

NFTs, in contrast, provide a safer investment avenue. They are permanently recorded on the blockchain, ensuring ownership is secure and tied to the digital asset. Unlike traditional assets, no one can simply steal an NFT or erase its information from the blockchain.

Combining Discord and NFTs

Discord facilitates real-time audio rooms where users can chat and listen to discussions. While participating in a recent Discord conversation for an NFT project, I realized this setting resembled an earnings call for a publicly traded company.

In these calls, company executives update shareholders on activities, discuss short-term objectives, and provide insights into future plans. They also address investor inquiries to give a comprehensive view of the company’s performance.

So, what’s the connection to Discord and NFTs? Instead of perceiving NFTs as mere images on the blockchain, consider each collection as a startup, seeking investors. NFTs can function as “shares” in these ventures.

Critics often argue, “I can just screenshot the picture. Why purchase it?” However, this perspective misses the essence. The document certifying your ownership of shares in Amazon stock holds no intrinsic value. If stranded in the Arctic, that document would be worthless compared to survival.

The true value of buying NFTs lies in owning a piece of a prominent collection. While some individuals may acquire NFTs simply because they are visually appealing, many others are making strategic investment decisions. Popular collections like Doodles have seen individual pieces sell for 40 ETH (~$128,676) and resell for 1500 ETH (~$4,825,700).

An NFT's success is tied not only to its artwork but also to the brand behind it. Elements such as the collection’s mission, the founders, social media engagement, and current owners all contribute to its value.

Once you mint your first NFT and make it public, you owe it to your investors (those who buy your NFT) to provide a roadmap for your project, outline your future goals, and foster a community around the collection. This approach is essential for increasing popularity and value. Discord serves as the ideal platform for nurturing that community.