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## **Turning Collectors into Subscribers: Harnessing the Future of Web3 Revenue Streams**

In a digital age powered by NFTs acquired via one-off purchases, the allure of a consistent subscription model often goes overlooked. But here’s the catch: amidst the throbbing heart of the creator economy, one-time collectors have a potential evolution: from being occasional admirers to becoming your most loyal subscribers.

### **Why Subscriptions? A Look at the Numbers:**

We're standing on the precipice of a monumental shift. By 2025, the subscription economy is slated to burgeon into a [$1.5 trillion market](https://www.subscriptionflow.com/2023/01/5-interesting-recent-statistics-on-the-subscription-business-model/). But this growth isn’t merely about numbers; it’s about the behavior behind them. Subscription brands witnessed a growth of their customer base by a staggering [31% in 2021.&nbsp;](https://www.subscriptionflow.com/2023/01/5-interesting-recent-statistics-on-the-subscription-business-model/)

The underlying message? Consumers are shifting from sporadic purchasing to more sustained engagements. They want more – not just products or services, but experiences. Indeed, [80% of consumers lean towards businesses that serve them a personalized experience.](https://www.subscriptionflow.com/2023/01/5-interesting-recent-statistics-on-the-subscription-business-model/)

<a target="_blank" href="https://app.aspenft.io/"><img width="2160" height="480" title="Header CTA" src="/images/blog/blog2/Banner_large_no-cta.png" /></a>

### **The Path Already Paved: Patreon, Substack, and the Creator Economy**

Our Royalty Paybacks feature streamlines the royalty payment process, making it easier for Collectors to support their favorite Creators. By simplifying the payment process, we encourage Collectors to acquire more NFTs from the creators they love, boosting the Creators' income and allowing them to focus on producing high-quality content. Additionally, the transparent payment system fosters trust and loyalty between Creators and their fans, further expanding your brand or project reach.

### **Royalty Appeals: Fair and Transparent Resolution**

Long before Web3 redefined digital interactions, platforms like Patreon and Substack emerged as beacons in the creator economy. These platforms weren't merely about transactions; they championed the very essence of ongoing relationships between creators and their communities.

Patreon turned fans into patrons, fostering a space where support wasn't just monetary but emotional and ideological. Creators offered exclusive behind-the-scenes content, personal interactions, and more, in return for the direct backing of their audience.&nbsp;

<a target="_blank" href="https://app.aspenft.io/"><img width="320" height="320" title="Square CTA" src="/images/blog/blog2/Banner_small.png" /></a>

Meanwhile, Substack reinvented the way we consumed written content, allowing writers to be supported directly by readers who valued their work. It wasn't just about buying an article; it was about investing in a voice, a perspective, a consistent stream of thoughts.

These platforms underscored a vital lesson: people are willing to pay for consistent value. But as powerful as these tools are, they operate largely in a Web2 context.

Enter Web3. It's not just a technological advancement but an evolution of thought. For creators in the Web3 space, the opportunity isn't just to replicate the Patreon or Substack model but to transcend it. The decentralized nature of Web3 equips creators with tools to forge deeper, more transparent, and more interactive relationships with their communities.

So, while collectors may buy an NFT or a one-off digital asset today, they're potential subscribers tomorrow. They're individuals who can be part of an ever-thriving ecosystem where they not only benefit from the creator's work but actively participate in the creator's journey.

Now, let's delve into how Aspen is catering to this evolution.

### **Aspen’s Tools: Making Subscriptions Seamless**

For creators, the transition from collector to subscriber is about crafting and offering unparalleled value consistently. That's where Aspen's Subscription tools acts as a game changer:

* Incentives through Discounts: Who doesn’t love a good deal? Aspen empowers creators to roll out personalized discounts and coupons, making subscription offers impossible to resist. It’s not just about saving a few dollars; it’s about feeling valued.
* Data-driven Decision Making: Understand your audience. Aspen’s insightful reporting tools ensure you’re always in the know, enabling creators to make informed decisions about what to gate behind subscriptions and how to optimize the membership experience.
* Legal Clarity: Setting clear terms of engagement ensures both you and your subscriber are on the same page. Aspen’s Legal Plugin demystifies the often-confusing world of rights and responsibilities, giving both creators and subscribers peace of mind.

### **Real-world Magic: Consortium Key's Success**

Take a leaf from [Consortium Key’s book](https://aspenft.io/blog/consortium-key-exceeds-revenue-forecasts). For a monthly 0.069 ETH, CK provided ongoing utility which turned subscribers into super-users, granting them access to high-value bots, tailored to individual preferences. This move wasn’t just about providing a service; it was about embedding users into their ecosystem, making the subscription not just valuable but indispensable. And where did this all happen? Right at <a target="_blank" rel="noopener" href="https://app.aspenft.io/consortium-key">Consortium Key's Storefront</a> on Aspen.

### **Crafting the Subscription Experience**

Navigating the digital terrain, the leap from collector to subscriber is transformative. It's about taking a momentary spark of interest and fanning it into a flame of enduring commitment. This isn't just about transactions; it's about building relationships, where value isn't just exchanged—it's enriched.

At the core, it's about consistently delivering unparalleled value, forging genuine connections, and designing experiences that aren't just consumed but cherished. In this bustling digital marketplace, it's essential to be distinctive and resonate deeply with the audience's desires.

However, beyond the spotlight is the symbiotic relationship between the creator and the subscriber. Both play pivotal roles in this dynamic. Creators weave narratives, insights, and offerings that captivate, while subscribers offer commitment, trust, and invaluable feedback. This mutual balance ensures an ecosystem where both creator and subscriber thrive, prospering from the unique value each brings to the table.

With tools and insights from Aspen, creators have the opportunity to cultivate this relationship, ensuring that collectors aren't just passive participants but actively engaged members of a shared journey.

<a target="_blank" href="https://app.aspenft.io/"><img title="Footer CTA" src="https://aspenft.io/images/blog/blog2/Banner_large_cta.png" /></a>

<h2>Turning Collectors into Subscribers: Harnessing the Future of Web3 Revenue Streams</h2>
In a digital age powered by NFTs acquired via one-off purchases, the allure of a consistent subscription model often goes overlooked. But here’s the catch: amidst the throbbing heart of the creator economy, one-time collectors have a potential evolution: from being occasional admirers to becoming your most loyal subscribers.
<h3>Why Subscriptions? A Look at the Numbers:</h3>
We're standing on the precipice of a monumental shift. By 2025, the subscription economy is slated to burgeon into a <a href="https://www.subscriptionflow.com/2023/01/5-interesting-recent-statistics-on-the-subscription-business-model/">$1.5 trillion market</a>. But this growth isn’t merely about numbers; it’s about the behavior behind them. Subscription brands witnessed a growth of their customer base by a staggering <a href="https://www.subscriptionflow.com/2023/01/5-interesting-recent-statistics-on-the-subscription-business-model/">31% in 2021. </a>
The underlying message? Consumers are shifting from sporadic purchasing to more sustained engagements. They want more – not just products or services, but experiences. Indeed, <a href="https://www.subscriptionflow.com/2023/01/5-interesting-recent-statistics-on-the-subscription-business-model/">80% of consumers lean towards businesses that serve them a personalized experience.</a>
<a target="_blank" href="https://app.aspenft.io/"><img width="2160" height="480" title="Header CTA" src="/images/blog/blog2/Banner_large_no-cta.png" /></a>
<h3>The Path Already Paved: Patreon, Substack, and the Creator Economy</h3>
Our Royalty Paybacks feature streamlines the royalty payment process, making it easier for Collectors to support their favorite Creators. By simplifying the payment process, we encourage Collectors to acquire more NFTs from the creators they love, boosting the Creators' income and allowing them to focus on producing high-quality content. Additionally, the transparent payment system fosters trust and loyalty between Creators and their fans, further expanding your brand or project reach.
<h3>Royalty Appeals: Fair and Transparent Resolution</h3>
Long before Web3 redefined digital interactions, platforms like Patreon and Substack emerged as beacons in the creator economy. These platforms weren't merely about transactions; they championed the very essence of ongoing relationships between creators and their communities.
Patreon turned fans into patrons, fostering a space where support wasn't just monetary but emotional and ideological. Creators offered exclusive behind-the-scenes content, personal interactions, and more, in return for the direct backing of their audience. 
<a target="_blank" href="https://app.aspenft.io/"><img width="320" height="320" title="Square CTA" src="/images/blog/blog2/Banner_small.png" /></a>
Meanwhile, Substack reinvented the way we consumed written content, allowing writers to be supported directly by readers who valued their work. It wasn't just about buying an article; it was about investing in a voice, a perspective, a consistent stream of thoughts.
These platforms underscored a vital lesson: people are willing to pay for consistent value. But as powerful as these tools are, they operate largely in a Web2 context.
Enter Web3. It's not just a technological advancement but an evolution of thought. For creators in the Web3 space, the opportunity isn't just to replicate the Patreon or Substack model but to transcend it. The decentralized nature of Web3 equips creators with tools to forge deeper, more transparent, and more interactive relationships with their communities.
So, while collectors may buy an NFT or a one-off digital asset today, they're potential subscribers tomorrow. They're individuals who can be part of an ever-thriving ecosystem where they not only benefit from the creator's work but actively participate in the creator's journey.
Now, let's delve into how Aspen is catering to this evolution.
<h3>Aspen’s Tools: Making Subscriptions Seamless</h3>
For creators, the transition from collector to subscriber is about crafting and offering unparalleled value consistently. That's where Aspen's Subscription tools acts as a game changer:
<ul>
<li>Incentives through Discounts: Who doesn’t love a good deal? Aspen empowers creators to roll out personalized discounts and coupons, making subscription offers impossible to resist. It’s not just about saving a few dollars; it’s about feeling valued.</li>
<li>Data-driven Decision Making: Understand your audience. Aspen’s insightful reporting tools ensure you’re always in the know, enabling creators to make informed decisions about what to gate behind subscriptions and how to optimize the membership experience.</li>
<li>Legal Clarity: Setting clear terms of engagement ensures both you and your subscriber are on the same page. Aspen’s Legal Plugin demystifies the often-confusing world of rights and responsibilities, giving both creators and subscribers peace of mind.</li>
</ul>
<h3>Real-world Magic: Consortium Key's Success</h3>
Take a leaf from <a href="https://aspenft.io/blog/consortium-key-exceeds-revenue-forecasts">Consortium Key’s book</a>. For a monthly 0.069 ETH, CK provided ongoing utility which turned subscribers into super-users, granting them access to high-value bots, tailored to individual preferences. This move wasn’t just about providing a service; it was about embedding users into their ecosystem, making the subscription not just valuable but indispensable. And where did this all happen? Right at <a target="_blank" rel="noopener" href="https://app.aspenft.io/consortium-key">Consortium Key's Storefront</a> on Aspen.
<h3>Crafting the Subscription Experience</h3>
Navigating the digital terrain, the leap from collector to subscriber is transformative. It's about taking a momentary spark of interest and fanning it into a flame of enduring commitment. This isn't just about transactions; it's about building relationships, where value isn't just exchanged—it's enriched.
At the core, it's about consistently delivering unparalleled value, forging genuine connections, and designing experiences that aren't just consumed but cherished. In this bustling digital marketplace, it's essential to be distinctive and resonate deeply with the audience's desires.
However, beyond the spotlight is the symbiotic relationship between the creator and the subscriber. Both play pivotal roles in this dynamic. Creators weave narratives, insights, and offerings that captivate, while subscribers offer commitment, trust, and invaluable feedback. This mutual balance ensures an ecosystem where both creator and subscriber thrive, prospering from the unique value each brings to the table.
With tools and insights from Aspen, creators have the opportunity to cultivate this relationship, ensuring that collectors aren't just passive participants but actively engaged members of a shared journey.
<a target="_blank" href="https://app.aspenft.io/"><img title="Footer CTA" src="https://aspenft.io/images/blog/blog2/Banner_large_cta.png" /></a>

Harnessing the Future of Web3 Revenue Streams

Turning Collectors into Subscribers

## **8 Collector Retention Strategies to Drive Community Growth: Beyond Web3, It's All About Genuine Connection**

We live in a world swamped with marketing jargon, where "collector retention" might seem like a sophisticated buzzword, exclusive to web3, e-commerce, or brand experts. But the reality is refreshingly straightforward: collector retention is about understanding, engaging, and caring for your community across all spheres of marketing.

Here's a different look at retention, one that doesn't get lost in the technicalities but builds real connections with real people.

<a target="_blank" href="https://app.aspenft.io/"><img title="Header CTA" src="/images/blog/CTA/1_Clarity-for-Creators-and-Collectors1@3x.png" /></a>

## **1\. Speak Their Language, Literally**

Example: Duolingo leveraging personalized content based on the user's learning journey.

![](/images/blog/blog3/image6.png)

The first step to connection is communication. Understand your collectors' unique values, interests, and experiences, and let your communication reflect that understanding. Whether in web3, retail, or content creation, knowing your audience is key.

Get Started By: Identifying the demographic and cultural nuances of your audience and tailor your content so that it speaks directly to them.

Impact: Businesses that provide personalized experiences drive a 6-10% revenue growth compared to those that don't (source: <a target="_blank" rel="noopener" href="https://www.bcg.com/publications/2017/retail-marketing-sales-profiting-personalization">BCG</a>).

## **2\. Personalize the Experience Across Channels**

Example: Netflix's personalized recommendations

![](/images/blog/blog3/image7.png)

Highlight the distinctive value your collectors receive — bonus points if you can incorporate what you’ve learned from above and do this in a way that feels familiar to your audience. What sets you apart? Regularly point to the benefits, exclusivity, or insight collectors or subscribers gain by sticking around. The best part? It's applicable across all types of marketing – from web3 to traditional commerce.

Get Started By: Clearly communicating the unique value or advantage of your offering across all digital touch points.

Impact: Personalized marketing increases customer engagement rates by 20% (source: <a target="_blank" rel="noopener" href="https://www.mckinsey.com/industries/retail/our-insights/personalizing-the-customer-experience-driving-differentiation-in-retail">McKinsey</a>).

## **3\. Encourage Participation and Engagement**

Example: LEGO's Ideas platform where fans submit their designs.

<a target="_blank" href="https://app.aspenft.io/"><img title="Square CTA" src="/images/blog/CTA/1_Clarity-for-Creators-and-Collectors2@3x.png" /></a>

Engagement isn't a one-way street. It's an ongoing conversation that fosters a sense of belonging. Encourage your community to voice opinions, ask questions, or share ideas, regardless of your marketing platform.

Get Started By: Creating an online forum or social media group where collectors can engage, share ideas, and participate.

Impact: Community engagement leads to a 25% increase in revenue (source: <a target="_blank" rel="noopener" href="https://influitive.com/wp-content/uploads/2022/02/2022-State-of-Customer-Marketing-Report-Influitive-1.pdf">Influitive</a>).

![](/images/blog/blog3/image2.png)

## **4\. Keep Things Fresh and Exciting**

Example: Coca-Cola's changing flavors and unique collaborations.

![](/images/blog/blog3/image8.png)

In a fast-paced world, monotony is the enemy of engagement. Surprise your collectors with fresh content, offers, or experiences. Keep them engaged, whether through digital marketing efforts, web3 perks, or even IRL collaborations.

Get Started By: Regularly updating offerings and maintaining a consistent cadence of meaningful announcements — but be careful not to manufacture excitement where there may not be real value, your community will catch on!

Impact: Keeping things fresh and exciting can increase customer retention by up to 5%, leading to profit growth of 25-95% (source: <a target="_blank" rel="noopener" href="https://smallbiztrends.com/2014/09/increase-in-customer-retention-increases-profits.html">Bain &amp; Company</a>).

### **5\. Transparency is Key**

Example: Patagonia's Footprint Chronicles tracking the impact of their products.

![](/images/blog/blog3/image1.png)

Build trust by being open and transparent. Share your processes, decisions, and future directions. Transparency fosters loyalty, no matter your industry.

Get Started By: Openly sharing your processes and decision-making criteria, even if it's a work in progress.

Impact: 94% of consumers are likely to show loyalty to a brand that offers complete transparency (source: <a target="_blank" rel="noopener" href="https://www.nbcnews.com/business/consumer/consumers-prefer-honest-brands-are-willing-pay-extra-them-n644916">Label Insight</a>).

## **6\. Recognize and Reward Loyalty**

Example: Starbucks' Rewards program

![](/images/blog/blog3/image4.png)

Make your collectors feel special by recognizing their loyalty with rewards, special offers, or simple thank you messages. It's a universal principle in marketing that fosters long-term relationships.

Get Started By: Implementing a simple reward system to incentivize collector loyalty.

Impact: Loyal customers are 5 times more likely to repurchase and can be worth up to 10 times the value of their initial purchase (source: <a target="_blank" rel="noopener" href="https://www.experian.com/blogs/insights/2018/06/customer-loyalty-using-data-to-keep-the-love-alive/">White House Office of Consumer Affairs</a>).

## **7\. Embrace Feedback, and Act on It**

Example: Adobe's active forums for product improvement based on user feedback

![](/images/blog/blog3/image3.png)

Feedback is a goldmine of improvement and growth. Listen to it and act on it. Make your community feel valued and heard, whether about your product, the platforms you’re using or their community experience.

Get Started By: Encouraging and actively seeking feedback, and then showing how that feedback is being used.

Impact: Companies that act on feedback see a 14.6% lower customer churn rate (source: <a target="_blank" rel="noopener" href="https://www.capterra.com/resources/use-reviews-to-improve-customer-retention/">Capterra</a>).

## **8\. Tell a Compelling Story**

Example: TOMS shoes and their "One for One" model

![](/images/blog/blog3/image5.jpg)

People connect with stories, dreams, and ideals. Craft a narrative that resonates with your community, creating a common thread that binds them together across all marketing domains.

Get Started By: Crafting a relatable story that aligns with your brand and communicates your mission clearly.

Impact: Brands that tell a compelling story can increase the value of a product or service by over 20 times (source: <a target="_blank" rel="noopener" href="https://www.customerthermometer.com/consumers-connecting-with-companies/">Customer Thermometer</a>).

Collector retention isn't a concept confined to a single domain like web3 or e-commerce. It's a universal strategy built on genuine understanding, trust, and engagement.

At Aspen, we believe in making connections that matter, irrespective of the platform or industry. It's about creating a meaningful relationship with your community, nurturing it, and watching it grow.

Join us in shifting the focus from mere transactions to building lasting connections. The principles are simple, their impact profound. Here's to a more connected, responsive, and thriving community, no matter where you find it.

Ready to get started? Explore Aspen and begin customizing your collector experience today!

<a target="_blank" href="https://app.aspenft.io/"><img title="Footer CTA" src="/images/blog/CTA/1_Clarity-for-Creators-and-Collectors3@3x.png" /></a>

<h2>8 Collector Retention Strategies to Drive Community Growth: Beyond Web3, It's All About Genuine Connection</h2>
We live in a world swamped with marketing jargon, where &quot;collector retention&quot; might seem like a sophisticated buzzword, exclusive to web3, e-commerce, or brand experts. But the reality is refreshingly straightforward: collector retention is about understanding, engaging, and caring for your community across all spheres of marketing.
Here's a different look at retention, one that doesn't get lost in the technicalities but builds real connections with real people.
<a target="_blank" href="https://app.aspenft.io/"><img title="Header CTA" src="/images/blog/CTA/1_Clarity-for-Creators-and-Collectors1@3x.png" /></a>
<h2>1. Speak Their Language, Literally</h2>
Example: Duolingo leveraging personalized content based on the user's learning journey.
<img src="/images/blog/blog3/image6.png" alt="">
The first step to connection is communication. Understand your collectors' unique values, interests, and experiences, and let your communication reflect that understanding. Whether in web3, retail, or content creation, knowing your audience is key.
Get Started By: Identifying the demographic and cultural nuances of your audience and tailor your content so that it speaks directly to them.
Impact: Businesses that provide personalized experiences drive a 6-10% revenue growth compared to those that don't (source: <a target="_blank" rel="noopener" href="https://www.bcg.com/publications/2017/retail-marketing-sales-profiting-personalization">BCG</a>).
<h2>2. Personalize the Experience Across Channels</h2>
Example: Netflix's personalized recommendations
<img src="/images/blog/blog3/image7.png" alt="">
Highlight the distinctive value your collectors receive — bonus points if you can incorporate what you’ve learned from above and do this in a way that feels familiar to your audience. What sets you apart? Regularly point to the benefits, exclusivity, or insight collectors or subscribers gain by sticking around. The best part? It's applicable across all types of marketing – from web3 to traditional commerce.
Get Started By: Clearly communicating the unique value or advantage of your offering across all digital touch points.
Impact: Personalized marketing increases customer engagement rates by 20% (source: <a target="_blank" rel="noopener" href="https://www.mckinsey.com/industries/retail/our-insights/personalizing-the-customer-experience-driving-differentiation-in-retail">McKinsey</a>).
<h2>3. Encourage Participation and Engagement</h2>
Example: LEGO's Ideas platform where fans submit their designs.
<a target="_blank" href="https://app.aspenft.io/"><img title="Square CTA" src="/images/blog/CTA/1_Clarity-for-Creators-and-Collectors2@3x.png" /></a>
Engagement isn't a one-way street. It's an ongoing conversation that fosters a sense of belonging. Encourage your community to voice opinions, ask questions, or share ideas, regardless of your marketing platform.
Get Started By: Creating an online forum or social media group where collectors can engage, share ideas, and participate.
Impact: Community engagement leads to a 25% increase in revenue (source: <a target="_blank" rel="noopener" href="https://influitive.com/wp-content/uploads/2022/02/2022-State-of-Customer-Marketing-Report-Influitive-1.pdf">Influitive</a>).
<img src="/images/blog/blog3/image2.png" alt="">
<h2>4. Keep Things Fresh and Exciting</h2>
Example: Coca-Cola's changing flavors and unique collaborations.
<img src="/images/blog/blog3/image8.png" alt="">
In a fast-paced world, monotony is the enemy of engagement. Surprise your collectors with fresh content, offers, or experiences. Keep them engaged, whether through digital marketing efforts, web3 perks, or even IRL collaborations.
Get Started By: Regularly updating offerings and maintaining a consistent cadence of meaningful announcements — but be careful not to manufacture excitement where there may not be real value, your community will catch on!
Impact: Keeping things fresh and exciting can increase customer retention by up to 5%, leading to profit growth of 25-95% (source: <a target="_blank" rel="noopener" href="https://smallbiztrends.com/2014/09/increase-in-customer-retention-increases-profits.html">Bain &amp; Company</a>).
<h3>5. Transparency is Key</h3>
Example: Patagonia's Footprint Chronicles tracking the impact of their products.
<img src="/images/blog/blog3/image1.png" alt="">
Build trust by being open and transparent. Share your processes, decisions, and future directions. Transparency fosters loyalty, no matter your industry.
Get Started By: Openly sharing your processes and decision-making criteria, even if it's a work in progress.
Impact: 94% of consumers are likely to show loyalty to a brand that offers complete transparency (source: <a target="_blank" rel="noopener" href="https://www.nbcnews.com/business/consumer/consumers-prefer-honest-brands-are-willing-pay-extra-them-n644916">Label Insight</a>).
<h2>6. Recognize and Reward Loyalty</h2>
Example: Starbucks' Rewards program
<img src="/images/blog/blog3/image4.png" alt="">
Make your collectors feel special by recognizing their loyalty with rewards, special offers, or simple thank you messages. It's a universal principle in marketing that fosters long-term relationships.
Get Started By: Implementing a simple reward system to incentivize collector loyalty.
Impact: Loyal customers are 5 times more likely to repurchase and can be worth up to 10 times the value of their initial purchase (source: <a target="_blank" rel="noopener" href="https://www.experian.com/blogs/insights/2018/06/customer-loyalty-using-data-to-keep-the-love-alive/">White House Office of Consumer Affairs</a>).
<h2>7. Embrace Feedback, and Act on It</h2>
Example: Adobe's active forums for product improvement based on user feedback
<img src="/images/blog/blog3/image3.png" alt="">
Feedback is a goldmine of improvement and growth. Listen to it and act on it. Make your community feel valued and heard, whether about your product, the platforms you’re using or their community experience.
Get Started By: Encouraging and actively seeking feedback, and then showing how that feedback is being used.
Impact: Companies that act on feedback see a 14.6% lower customer churn rate (source: <a target="_blank" rel="noopener" href="https://www.capterra.com/resources/use-reviews-to-improve-customer-retention/">Capterra</a>).
<h2>8. Tell a Compelling Story</h2>
Example: TOMS shoes and their &quot;One for One&quot; model
<img src="/images/blog/blog3/image5.jpg" alt="">
People connect with stories, dreams, and ideals. Craft a narrative that resonates with your community, creating a common thread that binds them together across all marketing domains.
Get Started By: Crafting a relatable story that aligns with your brand and communicates your mission clearly.
Impact: Brands that tell a compelling story can increase the value of a product or service by over 20 times (source: <a target="_blank" rel="noopener" href="https://www.customerthermometer.com/consumers-connecting-with-companies/">Customer Thermometer</a>).
Collector retention isn't a concept confined to a single domain like web3 or e-commerce. It's a universal strategy built on genuine understanding, trust, and engagement.
At Aspen, we believe in making connections that matter, irrespective of the platform or industry. It's about creating a meaningful relationship with your community, nurturing it, and watching it grow.
Join us in shifting the focus from mere transactions to building lasting connections. The principles are simple, their impact profound. Here's to a more connected, responsive, and thriving community, no matter where you find it.
Ready to get started? Explore Aspen and begin customizing your collector experience today!
<a target="_blank" href="https://app.aspenft.io/"><img title="Footer CTA" src="/images/blog/CTA/1_Clarity-for-Creators-and-Collectors3@3x.png" /></a>

Beyond Web3, It's All About Genuine Connection

8 Collector Retention Strategies to Drive Community Growth

## **The Difference Between NFT Ownership and Community Membership in the Web3 Landscape**

As we march into a new digital epoch, we are faced with unprecedented opportunities for interaction, participation, and engagement. One area where this new paradigm is most evident is in the world of Web3, the decentralized internet built on blockchain technology.

Two significant concepts in this realm that often get conflated are the ownership of Non-Fungible Tokens (NFTs) and community membership. It's crucial to understand that while these two can be interconnected, they are inherently different.

<a target="_blank" href="https://app.aspenft.io/"><img title="Header CTA" src="/images/blog/CTA/1_Clarity-for-Creators-and-Collectors1@3x.png" /></a>

## **NFT Ownership vs. Community Membership: An Overview**

NFTs are unique digital assets that represent a broad spectrum of tangible and intangible items, from digital art and music to virtual real estate and more. Owning an NFT typically means holding an irreplicable digital token tied to a particular asset. This ownership is verifiable on the blockchain and comes with certain rights and privileges depending on the specific NFT.

On the other hand, being a community member in the Web3 world involves participation in an online network or ecosystem. This could mean engaging in discussions, contributing ideas or resources, participating in governance decisions, and more. While NFT ownership can be a part of this, it's not the sole defining characteristic.

## **The Defining Criteria for Being a Community Member in Web3**

Being a community member in the Web3 context transcends the traditional notion of simply being part of a group. The main pillars that define a community member in the Web3 sphere are:

### **1\. Active Participation**

Community membership in Web3 isn't a passive act; it's about actively contributing to the collective. This could mean participating in governance decisions through DAOs (Decentralized Autonomous Organizations), creating content, contributing to the codebase, or participating in collection or group discussions on social media and communication platforms. It also involves activating NFT utility, where applicable, and using any interactive elements available to members, thereby engaging with the community's resources and infrastructure. Being an active participant means being part of the conversation and helping to shape the direction and ethos of the community.

### **2\. Shared Values and Vision**

Being part of a Web3 community means aligning with the collective's shared values and vision. This could relate to belief in decentralization, the value of art or particular technology, or more specific causes like environmental conservation or social justice. These shared values help bind the community together and guide its actions.

### **3\. Trust and Accountability**

Trust is central to any community, and it's no different in the Web3 world. This involves trust in the shared protocols, the technology, and each other. With the immutable and transparent nature of the blockchain, there's an added layer of accountability in these digital communities.

### **4\. Meeting Financial Obligations (Where Required)**

While not a universal requirement, some Web3 communities might require members to pay regular dues or make an initial financial contribution to gain or maintain membership. These dues can take the form of cryptocurrency, tokens specific to the community, or NFTs representing membership rights. Fulfilling these obligations when they are required is a critical part of community membership and supporting the creators building the communities we so enjoy.&nbsp;

## **NFT Ownership and Community Membership: Interplay and Differences**

NFT ownership can be a part of community membership, as owning specific NFTs might give access to particular communities or confer voting rights in governance decisions. This is seen with many digital art communities, where owning a particular piece of art grants you membership to an exclusive club.

<a target="_blank" href="https://app.aspenft.io/"><img title="Square CTA" src="/images/blog/CTA/1_Clarity-for-Creators-and-Collectors2@3x.png" /></a>

However, owning an NFT does not automatically make one an active, contributing member of a community. It's merely a form of participation, and without active engagement, value alignment, trust, and, in some cases, financial commitment, it falls short of true community membership.&nbsp;

The dynamic nature of Web3 calls for equally dynamic tools to foster and nurture its communities. The Aspen Membership and Subscription Tools, available via an Aspen Storefront, stand out as robust solutions for Creators seeking to grow their digital communities.

The Aspen Membership Tools help Creators easily define their community membership criteria, such as financial obligations or ownership of certain NFTs through royalty and utility management programs. These create exclusive environments designed specifically for active community members while also laying the framework for community growth.&nbsp;

Additionally, our Subscription Tools offers a sustainable revenue model that empowers Creators to generate recurring income, providing financial stability that supports the continued success and evolution of the community. These tools also enables Creators to offer exclusive content or benefits to their subscribers, enhancing engagement and creating a stronger bond between the community and its members.

These tools, available through our creator-centric Storefronts give Creators the flexibility and control to start, foster, and scale their communities effectively. They empower Creators to lead and expand their communities with easy access to minting, multimedia content and collection information while functioning as a back-end management platform to collect royalties, manage payments, run reporting, and gate or tier utility based on membership level.&nbsp;

As we continue to navigate the Web3 landscape, tools like these from Aspen will be indispensable in bridging the gap between NFT ownership and true community membership, ensuring a vibrant, engaging, and sustainable digital future.

<a target="_blank" href="https://app.aspenft.io/"><img title="Footer CTA" src="/images/blog/CTA/1_Clarity-for-Creators-and-Collectors3@3x.png" /></a>

<h2>The Difference Between NFT Ownership and Community Membership in the Web3 Landscape</h2>
As we march into a new digital epoch, we are faced with unprecedented opportunities for interaction, participation, and engagement. One area where this new paradigm is most evident is in the world of Web3, the decentralized internet built on blockchain technology.
Two significant concepts in this realm that often get conflated are the ownership of Non-Fungible Tokens (NFTs) and community membership. It's crucial to understand that while these two can be interconnected, they are inherently different.
<a target="_blank" href="https://app.aspenft.io/"><img title="Header CTA" src="/images/blog/CTA/1_Clarity-for-Creators-and-Collectors1@3x.png" /></a>
<h2>NFT Ownership vs. Community Membership: An Overview</h2>
NFTs are unique digital assets that represent a broad spectrum of tangible and intangible items, from digital art and music to virtual real estate and more. Owning an NFT typically means holding an irreplicable digital token tied to a particular asset. This ownership is verifiable on the blockchain and comes with certain rights and privileges depending on the specific NFT.
On the other hand, being a community member in the Web3 world involves participation in an online network or ecosystem. This could mean engaging in discussions, contributing ideas or resources, participating in governance decisions, and more. While NFT ownership can be a part of this, it's not the sole defining characteristic.
<h2>The Defining Criteria for Being a Community Member in Web3</h2>
Being a community member in the Web3 context transcends the traditional notion of simply being part of a group. The main pillars that define a community member in the Web3 sphere are:
<h3>1. Active Participation</h3>
Community membership in Web3 isn't a passive act; it's about actively contributing to the collective. This could mean participating in governance decisions through DAOs (Decentralized Autonomous Organizations), creating content, contributing to the codebase, or participating in collection or group discussions on social media and communication platforms. It also involves activating NFT utility, where applicable, and using any interactive elements available to members, thereby engaging with the community's resources and infrastructure. Being an active participant means being part of the conversation and helping to shape the direction and ethos of the community.
<h3>2. Shared Values and Vision</h3>
Being part of a Web3 community means aligning with the collective's shared values and vision. This could relate to belief in decentralization, the value of art or particular technology, or more specific causes like environmental conservation or social justice. These shared values help bind the community together and guide its actions.
<h3>3. Trust and Accountability</h3>
Trust is central to any community, and it's no different in the Web3 world. This involves trust in the shared protocols, the technology, and each other. With the immutable and transparent nature of the blockchain, there's an added layer of accountability in these digital communities.
<h3>4. Meeting Financial Obligations (Where Required)</h3>
While not a universal requirement, some Web3 communities might require members to pay regular dues or make an initial financial contribution to gain or maintain membership. These dues can take the form of cryptocurrency, tokens specific to the community, or NFTs representing membership rights. Fulfilling these obligations when they are required is a critical part of community membership and supporting the creators building the communities we so enjoy. 
<h2>NFT Ownership and Community Membership: Interplay and Differences</h2>
NFT ownership can be a part of community membership, as owning specific NFTs might give access to particular communities or confer voting rights in governance decisions. This is seen with many digital art communities, where owning a particular piece of art grants you membership to an exclusive club.
<a target="_blank" href="https://app.aspenft.io/"><img title="Square CTA" src="/images/blog/CTA/1_Clarity-for-Creators-and-Collectors2@3x.png" /></a>
However, owning an NFT does not automatically make one an active, contributing member of a community. It's merely a form of participation, and without active engagement, value alignment, trust, and, in some cases, financial commitment, it falls short of true community membership. 
The dynamic nature of Web3 calls for equally dynamic tools to foster and nurture its communities. The Aspen Membership and Subscription Tools, available via an Aspen Storefront, stand out as robust solutions for Creators seeking to grow their digital communities.
The Aspen Membership Tools help Creators easily define their community membership criteria, such as financial obligations or ownership of certain NFTs through royalty and utility management programs. These create exclusive environments designed specifically for active community members while also laying the framework for community growth. 
Additionally, our Subscription Tools offers a sustainable revenue model that empowers Creators to generate recurring income, providing financial stability that supports the continued success and evolution of the community. These tools also enables Creators to offer exclusive content or benefits to their subscribers, enhancing engagement and creating a stronger bond between the community and its members.
These tools, available through our creator-centric Storefronts give Creators the flexibility and control to start, foster, and scale their communities effectively. They empower Creators to lead and expand their communities with easy access to minting, multimedia content and collection information while functioning as a back-end management platform to collect royalties, manage payments, run reporting, and gate or tier utility based on membership level. 
As we continue to navigate the Web3 landscape, tools like these from Aspen will be indispensable in bridging the gap between NFT ownership and true community membership, ensuring a vibrant, engaging, and sustainable digital future.
<a target="_blank" href="https://app.aspenft.io/"><img title="Footer CTA" src="/images/blog/CTA/1_Clarity-for-Creators-and-Collectors3@3x.png" /></a>

In the Web3 Landscape

Difference Between NFT Ownership and Community Membership

## **Free Utility: A Race to the Bottom**

In the rapidly evolving world of web3 communities, the concept of utility has become a pivotal factor in determining the value and longevity of a project. While offering utility to NFT holders has gained popularity, there is a critical issue that needs addressing—the race to the bottom when it comes to pricing utility.&nbsp;

As creators, it's essential to understand that providing utility for solely the cost of the original NFT purchase leaves little room for sustainable revenue streams. In this blog post, we'll delve into the challenges faced by creators in developing and maintaining utility, the actual costs involved, and why a fair revenue model is crucial for the longevity and growth of their projects.

<a target="_blank" href="https://app.aspenft.io/storefronts/thanksfm"><img title="Header CTA" src="/images/blog/CTA/1_Revitalize-Your-Revenue-Streams1@3x.png" /></a>

### **The Illusion of Free Utility**

Creators often feel compelled to offer utility for free to attract and retain their audience. While this may seem like a noble approach, it can have unintended consequences. Free utility erodes the creators' ability to generate income and invest in their projects, hindering their capacity to provide the promised utility over time. Building a sustainable and recurring revenue stream is necessary for creators to continue offering valuable services and develop new utility functions to keep their community engaged and grow their audience.

Recent data suggests that the average profit for creators from collection sales lasts for a relatively short period, typically ranging from three to six months. This limited timeframe stands in stark contrast to the community's expectation that utility will be available in perpetuity. By offering free utility without a sustainable revenue model, creators inadvertently limit their ability to continue providing the promised services beyond the initial phase.

While the initial mint of an NFT collection can generate significant profits, it is often a temporary boost. Over time, the demand for the collection might dwindle, leading to a decline in sales. This puts the creator in a precarious position, as they are left with diminishing revenue streams to support ongoing utility provision. Without a fair revenue model in place, it becomes increasingly challenging for creators to allocate resources towards maintaining the utility and exploring new avenues for innovation.

### **The Economics of the Creator Economy**

In today's digital landscape, the creator economy has become a powerful force, enabling individuals to monetize their talents, ideas, and creations like never before. However, it is crucial to understand the economic realities that Creators face, beyond the illusion of free utility.&nbsp;

One key statistic that sheds light on the financial aspects of the creator economy is the average income earned by Creators. Recent studies indicate that approximately 70% of web3 Creators earn *less than $500 per month from their creations*. This highlights the stark reality that many creators face financial challenges in generating sustainable income from their work.

To compound this issue, the cost of living continues to rise in many regions. Inflation, housing costs, and other essential expenses place additional burdens on Creators, making it even more crucial for them to establish fair revenue models that provide adequate compensation for their efforts.

It is also important to recognize the **hidden** costs associated with providing utility to the community. These costs go beyond the initial creation of the NFT and encompass ongoing maintenance, technical support, and the need for continuous innovation to keep the audience engaged. Creators may have to outsource technical and creative talent, invest in web hosting and software, and dedicate substantial time and resources to ensure the sustainability of their offerings.

<a target="_blank" href="https://app.aspenft.io/storefronts/thanksfm"><img title="Square CTA" src="/images/blog/CTA/1_Revitalize-Your-Revenue-Streams2@3xSmall.png" /></a>

### **Hidden Costs of Providing Utility**

While the concept of free utility may initially sound enticing, it is essential for Creators to understand the hidden costs associated with providing ongoing value to their community. These costs go beyond the mere creation of an NFT collection and extend into various aspects that ensure the sustainability and growth of the creator's offerings.

1. **Time Investment** Creating and maintaining a thriving NFT project requires a significant time commitment. According to a survey, 53% of artists reported spending 25 or more hours per week creating and managing their NFTs¹. Additionally, a report by The Creative Independent found that 76% of artists spend more time on administrative tasks, marketing, and managing their online presence than on actual creative work².
2. **Technical Expertise** In many cases, creators must rely on technical experts or outsource certain aspects of their project. According to a study by Electric Capital, 31% of developers in the Web3 ecosystem outsource development work, indicating a reliance on external expertise³. Collaborating with skilled professionals to handle complex technical aspects can be a substantial expense for creators.
3. **Creative Talent** Building a captivating and unique NFT collection often involves collaborating with artists, designers, and other creative professionals. According to a report by NonFungible.com, the average royalty fee paid to artists on the Ethereum blockchain is around 10%⁴. This fee represents a significant portion of the creator's revenue and highlights the financial commitment to compensating creative talent.
4. **Web Hosting and Infrastructure** Hosting an NFT project necessitates a robust and reliable infrastructure. According to a study by CoinDesk, the average monthly cost for hosting and maintaining a simple NFT marketplace is estimated to be around $500⁵. As projects grow in scale and complexity, these expenses can increase significantly.
5. **Ongoing Innovation** To keep their audience engaged and maintain a competitive edge, creators must continuously innovate and introduce new features or utility to their NFT project. According to a survey by DappRadar, 45% of developers in the NFT space consider ongoing development and innovation as their highest cost⁶. This ongoing investment is crucial for the long-term success and relevance of the project.

By accounting for these hidden costs, Creators gain a more accurate understanding of the financial realities involved in providing sustainable utility. It becomes clear that the notion of free utility is an illusion that can hinder a creator's ability to meet ongoing expenses and deliver on the promises made to their community.

### **Empowering Creators**

At Aspen, we firmly believe in empowering creators to be paid and treated fairly. We advocate for an ecosystem that allows creators to provide sustainable utility and continue adding value over time — but utility isn’t free. By establishing fair pricing structures for utility, Creators can secure their financial stability, reinvest in their projects, and nurture an engaged community.

Aspen's Revenue Tools are purpose-built to support and uphold these fundamental creator rights. We provide creators with the tools, resources, and knowledge they need to navigate the financial aspects of their web3 endeavors successfully. From royalty recovery programs to subscription models, marketing automations to ongoing monetization, Aspen equips creators with the means to build sustainable businesses and establish recurring revenue streams.

<a target="_blank" href="https://app.aspenft.io/storefronts/thanksfm"><img title="Footer CTA" src="/images/blog/CTA/1_Revitalize-Your-Revenue-Streams3@3x.png" /></a>

SuperRare, "The State of the Artist," March 2021. The Creative Independent, "A Study of the Artist Economy," November 2020. Electric Capital, "Developer Report: Web3 Developer Survey," September 2021. NonFungible.com, "NFT Market Report Q4 2020," January

<h2>Free Utility: A Race to the Bottom</h2>
In the rapidly evolving world of web3 communities, the concept of utility has become a pivotal factor in determining the value and longevity of a project. While offering utility to NFT holders has gained popularity, there is a critical issue that needs addressing—the race to the bottom when it comes to pricing utility. 
As creators, it's essential to understand that providing utility for solely the cost of the original NFT purchase leaves little room for sustainable revenue streams. In this blog post, we'll delve into the challenges faced by creators in developing and maintaining utility, the actual costs involved, and why a fair revenue model is crucial for the longevity and growth of their projects.
<a target="_blank" href="https://app.aspenft.io/storefronts/thanksfm"><img title="Header CTA" src="/images/blog/CTA/1_Revitalize-Your-Revenue-Streams1@3x.png" /></a>
<h3>The Illusion of Free Utility</h3>
Creators often feel compelled to offer utility for free to attract and retain their audience. While this may seem like a noble approach, it can have unintended consequences. Free utility erodes the creators' ability to generate income and invest in their projects, hindering their capacity to provide the promised utility over time. Building a sustainable and recurring revenue stream is necessary for creators to continue offering valuable services and develop new utility functions to keep their community engaged and grow their audience.
Recent data suggests that the average profit for creators from collection sales lasts for a relatively short period, typically ranging from three to six months. This limited timeframe stands in stark contrast to the community's expectation that utility will be available in perpetuity. By offering free utility without a sustainable revenue model, creators inadvertently limit their ability to continue providing the promised services beyond the initial phase.
While the initial mint of an NFT collection can generate significant profits, it is often a temporary boost. Over time, the demand for the collection might dwindle, leading to a decline in sales. This puts the creator in a precarious position, as they are left with diminishing revenue streams to support ongoing utility provision. Without a fair revenue model in place, it becomes increasingly challenging for creators to allocate resources towards maintaining the utility and exploring new avenues for innovation.
<h3>The Economics of the Creator Economy</h3>
In today's digital landscape, the creator economy has become a powerful force, enabling individuals to monetize their talents, ideas, and creations like never before. However, it is crucial to understand the economic realities that Creators face, beyond the illusion of free utility. 
One key statistic that sheds light on the financial aspects of the creator economy is the average income earned by Creators. Recent studies indicate that approximately 70% of web3 Creators earn less than $500 per month from their creations. This highlights the stark reality that many creators face financial challenges in generating sustainable income from their work.
To compound this issue, the cost of living continues to rise in many regions. Inflation, housing costs, and other essential expenses place additional burdens on Creators, making it even more crucial for them to establish fair revenue models that provide adequate compensation for their efforts.
It is also important to recognize the hidden costs associated with providing utility to the community. These costs go beyond the initial creation of the NFT and encompass ongoing maintenance, technical support, and the need for continuous innovation to keep the audience engaged. Creators may have to outsource technical and creative talent, invest in web hosting and software, and dedicate substantial time and resources to ensure the sustainability of their offerings.
<a target="_blank" href="https://app.aspenft.io/storefronts/thanksfm"><img title="Square CTA" src="/images/blog/CTA/1_Revitalize-Your-Revenue-Streams2@3xSmall.png" /></a>
<h3>Hidden Costs of Providing Utility</h3>
While the concept of free utility may initially sound enticing, it is essential for Creators to understand the hidden costs associated with providing ongoing value to their community. These costs go beyond the mere creation of an NFT collection and extend into various aspects that ensure the sustainability and growth of the creator's offerings.
<ol>
<li>Time Investment Creating and maintaining a thriving NFT project requires a significant time commitment. According to a survey, 53% of artists reported spending 25 or more hours per week creating and managing their NFTs¹. Additionally, a report by The Creative Independent found that 76% of artists spend more time on administrative tasks, marketing, and managing their online presence than on actual creative work².</li>
<li>Technical Expertise In many cases, creators must rely on technical experts or outsource certain aspects of their project. According to a study by Electric Capital, 31% of developers in the Web3 ecosystem outsource development work, indicating a reliance on external expertise³. Collaborating with skilled professionals to handle complex technical aspects can be a substantial expense for creators.</li>
<li>Creative Talent Building a captivating and unique NFT collection often involves collaborating with artists, designers, and other creative professionals. According to a report by NonFungible.com, the average royalty fee paid to artists on the Ethereum blockchain is around 10%⁴. This fee represents a significant portion of the creator's revenue and highlights the financial commitment to compensating creative talent.</li>
<li>Web Hosting and Infrastructure Hosting an NFT project necessitates a robust and reliable infrastructure. According to a study by CoinDesk, the average monthly cost for hosting and maintaining a simple NFT marketplace is estimated to be around $500⁵. As projects grow in scale and complexity, these expenses can increase significantly.</li>
<li>Ongoing Innovation To keep their audience engaged and maintain a competitive edge, creators must continuously innovate and introduce new features or utility to their NFT project. According to a survey by DappRadar, 45% of developers in the NFT space consider ongoing development and innovation as their highest cost⁶. This ongoing investment is crucial for the long-term success and relevance of the project.</li>
</ol>
By accounting for these hidden costs, Creators gain a more accurate understanding of the financial realities involved in providing sustainable utility. It becomes clear that the notion of free utility is an illusion that can hinder a creator's ability to meet ongoing expenses and deliver on the promises made to their community.
<h3>Empowering Creators</h3>
At Aspen, we firmly believe in empowering creators to be paid and treated fairly. We advocate for an ecosystem that allows creators to provide sustainable utility and continue adding value over time — but utility isn’t free. By establishing fair pricing structures for utility, Creators can secure their financial stability, reinvest in their projects, and nurture an engaged community.
Aspen's Revenue Tools are purpose-built to support and uphold these fundamental creator rights. We provide creators with the tools, resources, and knowledge they need to navigate the financial aspects of their web3 endeavors successfully. From royalty recovery programs to subscription models, marketing automations to ongoing monetization, Aspen equips creators with the means to build sustainable businesses and establish recurring revenue streams.
<a target="_blank" href="https://app.aspenft.io/storefronts/thanksfm"><img title="Footer CTA" src="/images/blog/CTA/1_Revitalize-Your-Revenue-Streams3@3x.png" /></a>
SuperRare, &quot;The State of the Artist,&quot; March 2021. The Creative Independent, &quot;A Study of the Artist Economy,&quot; November 2020. Electric Capital, &quot;Developer Report: Web3 Developer Survey,&quot; September 2021. NonFungible.com, &quot;NFT Market Report Q4 2020,&quot; January

Free Utility: A Race to the Bottom

## **Consortium Key Exceeds Revenue Forecasts with Aspen’s Subscription Tools**

 *Discover how Consortium Key turned a financial crisis into a tremendous opportunity with Aspen's Subscription Tools, using it to boost their revenue and provide a powerful trading experience for their users.*

### **The Problem: Fading Financial Forecasts**

In March of this year, <a target="_blank" href="https://consortiumkey.com">Consortium Key</a> found themselves in a precarious situation. Their Q1 revenue was down 95% compared to the previous quarter, leaving them unable to continue building trading toolkits for their NFT holders. This presented an existential threat to the project as they had to create a sustainable business model without relying on enforced royalties, which would require a time-consuming, costly, and risky contract migration process.

<a target="_blank" href="https://app.aspenft.io/storefronts/consortium-key"><img title="Header CTA" src="/images/blog/CTA/2_Explore-Consortium-Keys-Storefront1@3x.png" /></a>

### **The Solution: Aspen's Subscription Tools to the Rescue**

<a target="_blank" href="https://app.aspenft.io/storefronts/consortium-key">Consortium Key</a> introduced their utility pass in October, 2022. The “Key” provides holders with alert systems, extensive data, and robust bots to help holders execute the most informed, profitable, and fast trades. With a floor price of about 4 ETH at the time of writing, the Key keeps traders plugged into the market's behavior while giving them the tools required to take advantage of the opportunities.

The team minted just over 500 keys at a mint price averaging around 0.4 eth which represented a decent amount of capital to start their project. However, as everyone in the NFT space knows, the tokens a project gets from minting are finite and have a lifespan which is limited to the “burn” of the project (namely, its expenses). The team realized very quickly that their tokens from the mint were dwindling, and with the inception of the optional royalties era, their revenue was falling as well. They needed to make a change or else they were going to be unable to continue the project.

<a target="_blank" href="https://app.aspenft.io/storefronts/consortium-key">Consortium Key</a> turned to Aspen; working together, our teams crafted a utility strategy that made sense for holders and the team. A portion of the utility was carved off to only be available to those that held a key **and** had an active subscription via Aspen. Specifically, what the team did was to carve off access to their suite of advanced bots; requiring a subscription to use.&nbsp;

For 0.069 ETH per month, users gained access to all the bots built by the team, including the ability to auto-purchase coins based on a user's personal preferences and set of criteria. These bots are made available through Consortium Key's Discord, accessible only to subscribers who purchased a subscription via <a target="_blank" href="https://app.aspenft.io/storefronts/consortium-key">Consortium Key's Storefront</a> on Aspen.

### **Financial Breakthrough: Unlocking a New Revenue Stream**

Within the first month of implementing the subscription program, Consortium Key reached their initial revenue goal. This impressive turnaround not only saved the project from potential difficulties but also enabled them to regain revenues totalling about 60% of cash flow breakeven. By the second month, they had reached cash flow breakeven on subscription revenue alone and were able to begin replenishing their reserves that had dwindled when optional royalties were the harshest.&nbsp;

<img width="600" height="338" src="/images/blog/blog2/CK-SUB-GROWTH-PRECENTAGE.gif" />

This financial success story showcases the power of <a target="_blank" href="https://aspenft.io/subscription">Aspen's Subscription Tools</a> in helping NFT projects find innovative ways to generate revenue and thrive. Achieving cash flow breakeven is a significant milestone for any project or business, as it means that the majority of the project’s expenses are covered by the revenue generated from their subscriptions. This allows them to have more financial flexibility and stability, making it easier to reinvest in the project’s growth and development. In other words, when a project or business reaches cash flow breakeven, then growth can come from revenue – not from capital – which dilutes existing holders.

<a target="_blank" href="https://app.aspenft.io/storefronts/consortium-key"><img title="Square CTA" src="/images/blog/CTA/2_Explore-Consortium-Keys-Storefront2@3x.png" /></a>

In a season where the top collections are losing millions due to royalty non-payments, Consortium Key's success with <a target="_blank" href="https://aspenft.io/subscription">Aspen's Subscription Tools</a> stands out as a new, viable solution for projects to generate revenue without relying on royalties. This innovative approach to revenue generation demonstrates that there are alternative strategies available to projects facing challenges in the rapidly evolving NFT landscape.

### **Subscription Models: Not a One-Size-Fits-All Solution**

While Consortium Key's success with the subscription model is an inspiring example, it's important to recognize that subscription models may not be the revenue solution for every project. Adopting this approach requires the project to deliver real-world, beneficial utility to their community, which isn't part of every project's model.

For a subscription model to work, it's crucial to provide consistent value that justifies the ongoing cost to users. Projects that lack a strong utility-driven approach or fail to deliver tangible benefits to their community may struggle to gain traction with a subscription-based revenue model. In such cases, alternative revenue solutions might be a better fit.

However, for projects that can provide exceptional value to their users through exclusive tools, data, or experiences, a subscription model like the one offered by <a target="_blank" href="https://aspenft.io/subscription">Aspen's Subscription Tools</a> can be a powerful way to generate revenue, build loyalty, and foster a vibrant community.

### **A Winning Formula: Utility = Loyalty**

The cultural impact of Consortium Key's success goes beyond just financial gains. The project's ability to adapt and leverage Aspen's Subscription Tools has created a ripple effect throughout their community.

By offering valuable tools, exclusive data, and a supportive Discord environment, Consortium Key has fostered a sense of loyalty and trust among its users. Despite the subscription model being an additional cost to traders, key holders have embraced it due to the immense worth in utility it provides. This has led to a thriving community that is not only profitable but also passionate about the products and services that Consortium Key delivers.

<img width="1928" height="607" src="/images/blog/blog2/CK-image2.png" /> <img width="425" height="133" src="/images/blog/blog2/CK-image1.png" />

Discover how Aspen's Subscription Tools can help your business exceed financial goals and build a thriving community. Visit <a target="_blank" href="https://aspenft.io/subscription">AspeNFT.io</a> to learn more.

<a target="_blank" href="https://app.aspenft.io/storefronts/consortium-key"><img title="Footer CTA" src="/images/blog/CTA/2_Explore-Consortium-Keys-Storefront3@3x.png" /></a>

<h2>Consortium Key Exceeds Revenue Forecasts with Aspen’s Subscription Tools</h2>
 Discover how Consortium Key turned a financial crisis into a tremendous opportunity with Aspen's Subscription Tools, using it to boost their revenue and provide a powerful trading experience for their users.
<h3>The Problem: Fading Financial Forecasts</h3>
In March of this year, <a target="_blank" href="https://consortiumkey.com">Consortium Key</a> found themselves in a precarious situation. Their Q1 revenue was down 95% compared to the previous quarter, leaving them unable to continue building trading toolkits for their NFT holders. This presented an existential threat to the project as they had to create a sustainable business model without relying on enforced royalties, which would require a time-consuming, costly, and risky contract migration process.
<a target="_blank" href="https://app.aspenft.io/storefronts/consortium-key"><img title="Header CTA" src="/images/blog/CTA/2_Explore-Consortium-Keys-Storefront1@3x.png" /></a>
<h3> The Solution: Aspen's Subscription Tools to the Rescue</h3>
<a target="_blank" href="https://app.aspenft.io/storefronts/consortium-key">Consortium Key</a> introduced their utility pass in October, 2022. The “Key” provides holders with alert systems, extensive data, and robust bots to help holders execute the most informed, profitable, and fast trades. With a floor price of about 4 ETH at the time of writing, the Key keeps traders plugged into the market's behavior while giving them the tools required to take advantage of the opportunities.
The team minted just over 500 keys at a mint price averaging around 0.4 eth which represented a decent amount of capital to start their project. However, as everyone in the NFT space knows, the tokens a project gets from minting are finite and have a lifespan which is limited to the “burn” of the project (namely, its expenses). The team realized very quickly that their tokens from the mint were dwindling, and with the inception of the optional royalties era, their revenue was falling as well. They needed to make a change or else they were going to be unable to continue the project.
<a target="_blank" href="https://app.aspenft.io/storefronts/consortium-key">Consortium Key</a> turned to Aspen; working together, our teams crafted a utility strategy that made sense for holders and the team. A portion of the utility was carved off to only be available to those that held a key and had an active subscription via Aspen. Specifically, what the team did was to carve off access to their suite of advanced bots; requiring a subscription to use. 
For 0.069 ETH per month, users gained access to all the bots built by the team, including the ability to auto-purchase coins based on a user's personal preferences and set of criteria. These bots are made available through Consortium Key's Discord, accessible only to subscribers who purchased a subscription via <a target="_blank" href="https://app.aspenft.io/storefronts/consortium-key">Consortium Key's Storefront</a> on Aspen.
<h3>Financial Breakthrough: Unlocking a New Revenue Stream</h3>
Within the first month of implementing the subscription program, Consortium Key reached their initial revenue goal. This impressive turnaround not only saved the project from potential difficulties but also enabled them to regain revenues totalling about 60% of cash flow breakeven. By the second month, they had reached cash flow breakeven on subscription revenue alone and were able to begin replenishing their reserves that had dwindled when optional royalties were the harshest. 
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This financial success story showcases the power of <a target="_blank" href="https://aspenft.io/subscription">Aspen's Subscription Tools</a> in helping NFT projects find innovative ways to generate revenue and thrive. Achieving cash flow breakeven is a significant milestone for any project or business, as it means that the majority of the project’s expenses are covered by the revenue generated from their subscriptions. This allows them to have more financial flexibility and stability, making it easier to reinvest in the project’s growth and development. In other words, when a project or business reaches cash flow breakeven, then growth can come from revenue – not from capital – which dilutes existing holders.
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In a season where the top collections are losing millions due to royalty non-payments, Consortium Key's success with <a target="_blank" href="https://aspenft.io/subscription">Aspen's Subscription Tools</a> stands out as a new, viable solution for projects to generate revenue without relying on royalties. This innovative approach to revenue generation demonstrates that there are alternative strategies available to projects facing challenges in the rapidly evolving NFT landscape.
<h3> Subscription Models: Not a One-Size-Fits-All Solution</h3>
While Consortium Key's success with the subscription model is an inspiring example, it's important to recognize that subscription models may not be the revenue solution for every project. Adopting this approach requires the project to deliver real-world, beneficial utility to their community, which isn't part of every project's model.
For a subscription model to work, it's crucial to provide consistent value that justifies the ongoing cost to users. Projects that lack a strong utility-driven approach or fail to deliver tangible benefits to their community may struggle to gain traction with a subscription-based revenue model. In such cases, alternative revenue solutions might be a better fit.
However, for projects that can provide exceptional value to their users through exclusive tools, data, or experiences, a subscription model like the one offered by <a target="_blank" href="https://aspenft.io/subscription">Aspen's Subscription Tools</a> can be a powerful way to generate revenue, build loyalty, and foster a vibrant community.
<h3> A Winning Formula: Utility = Loyalty</h3>
The cultural impact of Consortium Key's success goes beyond just financial gains. The project's ability to adapt and leverage Aspen's Subscription Tools has created a ripple effect throughout their community.
By offering valuable tools, exclusive data, and a supportive Discord environment, Consortium Key has fostered a sense of loyalty and trust among its users. Despite the subscription model being an additional cost to traders, key holders have embraced it due to the immense worth in utility it provides. This has led to a thriving community that is not only profitable but also passionate about the products and services that Consortium Key delivers.
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Discover how Aspen's Subscription Tools can help your business exceed financial goals and build a thriving community. Visit <a target="_blank" href="https://aspenft.io/subscription">AspeNFT.io</a> to learn more.
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