Lingo’s Post

Lingo community sale SOLD OUT in 24 hours! 🚀 $3m in the first 24 hours, $15m combined rounds total raise. Here’s how we did it 👇 1. Socialfi: We built one of the most viral questing / community building products on the market resulting in 10 million tweets and 750k participants in 6 weeks (see my featured post on my profile about “Lingo Islands” for a full breakdown of how we did it.) 2. Creators and key opinion leaders: We built relationships with respected and impactful key opinion leaders and creators in our space for the last 2 years. Most of the respected KOLs don’t accept paid promotions so it was key to build relationships (participated in conferences, hosted events etc) to eventually convince them to invest in our vision. We received 99% nos for 2 years and improved on the feedback constantly, to eventually onboard most 3 months ago. What we learned: There’s probably over 5,000 creators calling themselves “KOLs” in the web3 space, but we saw that the top 5% drove most of the volume. 3. Alpha groups: We had the support of the top alpha groups in the space who championed the project with their community. 4. Referrals: We asked our existing investors and community to refer us to potential people who could add value to the project. This created a big network effect that was impactful. 5. Whisper-Tease-Shout: When it came time to SHOUT about our community sale, we went all in on Twitter, Discord and our email database. We used the “whisper - tease - shout “ framework by @alex hormozi. 6. Value value value: For the last 2 years, we were focused on making Lingo as valuable as possible: Zillions of iterations and improvements on the model and product based on feedback, dozens of agencies and advisors asked to “destroy” our tokenomics so we could polish it as much as possible, we built partnerships with many tier 1 IPs from web2 and web3, we onboarded advisors from successful projects (managing directors of top exchanges, founders of projects listed on Binance, general partners of big VCs, C levels from Blackrock, Google, Booking etc) so we could learn from their experience to optimise chances of success for our vision. (Let me know in the comments if you want another post to explain how we reached out and onboarded smart advisors and partners when starting from scratch (we didn’t know anyone in web3 when we started, so it can save you 3 years of trial and error). The last part is the most important (iterate until you build something people want), if we did 1-5 without 6 it would probably have flopped. Big learning: The market seems to play a HUGE part in whatever you do in Web3. We launched our community round when the market crashed. If we executed in exactly the same way, 3 months earlier, I believe we could’ve done 5-10x more. If you know any project founder / team who might find this post useful feel free to tag them or share privately. Hope it helps.