We talk through the benefits and features of creating a raffle reward for your Web3 community using the Step3 platform.
In this post, we go through the benefits and features of creating a raffle reward for your Web3 community using the Step3 platform.
What is a Web3 "raffle reward"?
A Web3-based raffle reward is a giveaway where a participant’s NFT acts as a raffle ticket.
As a raffle creator, you can use raffle rewards to offer token-gated giveaways for desired rewards or experiences, and draw the raffle yourself.
Community rewards with the Step3 platform
The Step3 rewards platform is an all-in-one no-code platform that lets anyone easily create compelling NFT token-gated membership and rewards programs. The platform is flexible and has a range of rewards that can be offered to your community, these include
- Raffles
- Merchandise
- Coupon code
- Gated content
- Allow lists
- Event passes
Why create a raffle reward in the first place?
Want to grow your social media following? According to Tailwind, Instagram accounts that hold contests grow their followers an average of 70% faster than accounts that don’t. This principle applies across most social networks – turns out people like free stuff.
Raffles can increase engagement within your community while simultaneously building brand awareness. Research suggests that around 60% of contest participants share a promotion with a friend.
An added perk of token gating is that only eligible and targeted communities can register for the raffle. Previously it was much harder to target specific communities, as most raffles offered are public-facing and open to everyone. Raffles would use other methods to enable participation such as buying a ticket or sharing the raffle on socials.
Creating a token-gated raffle using an NFT, gives the NFT holder extra privileges. It also acts as a way to actively engage holders with rewards and prizes that might interest them.
With Step3 you can create and publish raffle rewards for your community with no code, easy peasy.
Features of raffle rewards
The Step3 platform offers highly customizable rewards, including the option to give away one or more prizes through the raffle reward feature.
Once the raffle is completed, the reward admin (you) can draw randomized winners and pick new winners if necessary.
Afterwards, you can collect the email addresses of winners and notify them with a personalized message.
A neat feature that allows for seamless collaboration between digital communities is that you can target up to six different NFT collections during the reward creation process. This opens up the doors for you to collaborate with communities that have similar values and interests, without the added setup costs.
The claim page can also be white labelled to match your brand’s look and feel, and reward cards can be embedded on your site – allowing for broader touch points to the communities you want to target.
Raffle case study
We helped unite three Austin-based Web3 communities by organizing an exciting raffle reward during their annual social event.
ATX DAO joined forces with Texas Eclipse 2024 and festivalPass to create a unique experience for their members. Step3 organized a giveaway to incentivize participation featuring two NFT rewards: a Festival Family Lifetime NFT and a Texas Eclipse 2024 VIP package.
Token holders from each community were eligible to participate, boosting awareness and utility for all involved projects. The results were impressive, with increased engagement and an eagerness for future collaboration among the communities.
The success of this raffle reward demonstrates the potential of Web3 communities to work collectively towards common goals, showcasing the power of shared experiences and collaboration in the rapidly growing world of NFTs and decentralized organizations.
To learn more about this innovative collaboration and the full details of the case study, visit the full case study here
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