StoryPrima DAO was inspired by the founders' experience developing Legends of Cypher, a lore-heavy multimedia NFT project.
Over the nearly 1 year period we spent developing Legends of Cypher, we learned much, including:
- Operational aspects of NFT/Web3 projects: Including smart contract optimization, the specifics of royalty distribution, pros and cons of various NFT platforms, metadata management, etc.
- Marketing challenges associated with #StoryFirst NFT projects: It can be difficult for any NFT project to break through in the current noisy and crowded NFT market, but projects that are heavily story-focused and have large amounts of world building and longer execution time frames can have difficulty gaining attention
- Striking a balance between co-creation and core team development of intellectual property: The idea of soliciting community involvement early on for story-heavy projects is currently popular, but it can be challenging to secure community development of top-notch content and determining how community activity should be encouraged and compensated
StoryPrima DAO was founded to address all of these challenges (and many more) by:
- Investing in research and education to help the market and developers of #StoryFirst NFT projects understand and successfully navigate the complex NFT landscape
- Develop incentive strategies help encourage community contribution to story-focused NFT projects
- Support the development of story-oriented NFT initiatives and incentivize the market for the NFTs developed by these projects
- Creating media properties that help drive #StoryFirst NFT project awareness and market adoption
Ultimately, StoryPrima DAO will help make the journey of other individuals and teams seeking to harness NFTs to drive powerful and enduring storytelling easier by giving them tools, resources and funding.
