We devised a comprehensive strategy that leverages an open supply NFT model, Web2 and Web3 fashion collaborations, offline and virtual events, and Metaverse integration to create sustainable revenue streams and boost brand awareness.

Project overview

Disclaimer: This project is not associated with Hapesocial or the corresponding NFT brands. It provides a broad overview, explaining one of the approaches for creating a monetization strategy for Hape. The strategies presented are limited and based on publicly accessible information.

Matt Sypien




What we did

We introduced an open supply NFT model that granted access to an exclusive online shop, enabling increased ROI through marketing funnels and driving awareness and revenue. Next, we established strategic partnerships and collaborations with Web2 and Web3 fashion brands, generating additional revenue and attracting new users. Finally, we laid the groundwork for hosting global offline and virtual fashion events centered around NFTs and the Metaverse, creating monetization opportunities through ticket sales, advertising, and guest booths.

The Client

The Hape Prime is a collection of 8,192 unique digital collectibles called "Hapes" that are represented on the Etheruem blockchain with the main goal of building a synergy between fashion and the Metaverse. The NFT project is created by a digital media company called Digimental. The collection is distinct in its visual form, they have been focusing on the detail of the art, accessory, and cultural reference. Owning an Hape grants access to several experiences, utilities and drops from collabrotians with known brands.

The Problem

Currently, it is difficult to identify a sustainable business model behind the Hape Prime project that guarantees long-term revenue generation. While the brand generates income through partnerships, merchandise sales, and collaborations, none of these appear to be built on solid, long-term foundations. The capped supply of the project, despite creating an aura of exclusivity, may actually be more detrimental than beneficial. Given the project's structure, there isn't a sustainable revenue stream or a solid foundation for growth.

The Solution

The project has the opportunity to become a leading NFT fashion project in the space, given its unique designs and development thus far. To achieve this, we propose the following:

Generating sustainable revenue and growing a supply-capped project can be challenging and counterintuitive. There needs to be a way to issue NFTs and generate upfront revenue while maintaining the exclusivity of the current community. We suggest creating an open-supply project in which the NFTs act as a gateway to an online shop where users can purchase exclusive merchandise and other items. This open-supply model, offering access to the online shop, has the benefit of enabling marketing funnels to drive new users, increasing both awareness and revenue. Running marketing campaigns for supply-capped NFT projects doesn't make sense, as the efforts and costs are not associated with a return on investment (ROI) since the project is sold out. Our approach of unlimited NFTs acting as access cards to the online shop and being affordable will result in ROI, growth in awareness, and revenue. Currently, growth is limited with a supply-capped project.

Second, we would focus on creating partnerships and collaborations with other fashion brands in the Web2 and Web3 space, targeting aligned audiences. We'll charge for collaborations, earn royalties, and receive a percentage of the revenue generated through these partnerships. This reliable revenue source, coupled with new users, will help fill the funnel.

Third, we propose hosting an offline fashion event centered around NFTs and the Metaverse, where the latest technologies and use cases related to NFTs and Web3 are presented, all hosted by Hape Prime. Building such a global event will take time, but laying down the foundations today will prove beneficial. Monetizing these events through ticket sales, advertising, guest booths, and more will contribute to generating a sustainable revenue stream.

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