Introduction

If you're new to the term "Web3," you're not alone. Web3 represents the next evolution of the internet, emphasizing new forms of digital ownership and community-based economies. Think of it as a transition from renting a space in someone else's building (like creating a Facebook group) to constructing your own digital home. Let's explore how Common Ground is leading this charge.

Web3 and Common Ground: A Quick Primer

Web3 is about giving control back to users, and Common Ground is a shining example of how this can shape our online communities. Imagine having a toolbox where you decide how your community interacts, earns, and grows. This is the promise of Common Ground in the Web3 era.

Your First Steps on Common Ground

1. Sign Up: Start by registering on Common Ground using an email, a unique username, or even a Web3 wallet.

2. Dive In: Explore the platform. It might feel reminiscent of platforms like Discord, but with new kinds of features awaiting your discovery.

3. Build Your Community: Set up your spaces, customize them, and decide how you want to engage with your community.

Advanced Community Features

• Token-Gating: Want to reward your most loyal members? Create special rooms or content areas that are accessible only to those holding a specific token or NFT.

• Community NFTs: Dive deeper into the world of NFTs. These aren't just digital art; they can be badges of honor, membership tickets, or even a stake in your community's future.

• Real-time Engagements: Host webinars, workshops, or AMA sessions directly within Common Ground, fostering deeper connections.

Web3 Monetization: The Basics

In the Web3 world, community value isn't just about ad impressions or likes. It's about genuine engagement, shared goals, and token-based incentives. Platforms like Common Ground are built with this ethos, offering tools to harness this new monetization paradigm.

Kickstarting Monetization on Common Ground

1. Launch a Community Token: This isn't just a digital currency; it's a stake in your community. Members can buy or earn tokens, which can grant them special privileges, access, or decision-making powers.

2. NFTs for Your Community: Beyond digital art, NFTs on Common Ground can represent memberships, special statuses, or even unique community experiences.

3. Token-Gated Content: Have premium content, courses, or experiences? Use token-gating to offer these exclusively to token holders, adding value to your community token.

NFTs 101

At its core, an NFT (Non-Fungible Token) is a unique digital asset verified using blockchain technology. Unlike cryptocurrencies such as Bitcoin or Ethereum, where each unit is identical to every other unit, each NFT is distinct. This uniqueness is what makes NFTs perfect for representing things like art, collectibles, and yes, community memberships or statuses.

Growing and Sustaining Your Monetization Efforts

• Engage Regularly: Host token or NFT-based events, AMAs, or workshops. Keep your community engaged and show the value of holding your token or NFTs.

• Stay Updated: Web3 is evolving rapidly. Platforms like Common Ground regularly introduce new features and integrations. Stay updated and leverage them for your community.