Tokenized communities just like their non-tokenized counterparts can suffer from lower user engagement. Many token holders buy the token once and fall back into an observer only mentality 👻
Why is this a bad thing?
The entire point of a community is for members to help each other accomplish a grand vision. To change the world in direction they see fit. The token helps align their visions, but that is not enough. Simply buying a token cannot be a proxy for real community engagement. In fact, a non-tokenized community that is well engaged will always beat out a tokenized community that is only somewhat engaged. Even if its $YACHTY 😭
I’ll argue there are two big reasons for why engagement may be low (obviously there are more).
- Person A is speculating on the token and has no immediate need for the community
- Person B is not being engaged by the community with clear engagement pathways. So they focus their time elsewhere.
How does one even measure engagement?
In this case engagement is the act of completing the leading actions which contribute to the community’s overall goal. In part that is token adoption, but more so it is members feeling that sense of community, belonging and the actual value created from everyone working towards a common goal.
In the case of KarmaDAO it might be getting the newest and the best token projects to give a detailed presentation and an AMA to its members. Another way might be helping each other understand the current market trends. For Karma, a cold and calculated economist might say that the only true value is whether the members earn increased alpha from being a part of the community, but that misses out on the very real yet intangible — feeling a sense of belonging and fun!
Ways to measure this is post activity might include:
- Using the Discord API to determine how often a user messages the community,
- Overall lifespan of a community member
- Members progressing from being an observer towards submitting blog articles, organizing online hangouts, updating FAQs, etc.
It more important more than ever to measure your community’s activity. Does it grow with engagement members or is it a leaky bucket with more ghost observers?