BNB NFT Spotlight: BNB Chain NFT Growth Alliance

The BNGA is a unique endeavor, providing a gateway for new projects to the BNB Chain while working for the betterment of the entire BNB ecosystem.

The BNB Chain Growth Alliance

A sleeping giant may finally be awakening. The BNB Chain has been graced with a new group––an alliance of projects–– that has burst onto the scene seeking to formalize the relationships between NFT projects and work in an effort to raise the quality and standard of the entire ecosystem. 

‍BSC News spoke with KC, one of the founders and pioneers behind the unique initiative entitled the BNB Chain NFT Growth Alliance. KC opened up to CryptoQuile about the origins, vision, expectations, and future of the alliance. 

The group received a massive initial boost from the BNB Chain itself, with considerable support from Alvin Kan, Director of BNB Chain Data & Research, which saw KC and DeHuffski host the Building with BNGA Event in early March that put the Alliance on the map. 

Before the event, they had less than 1,000 followers on Twitter and have almost doubled since the interview. The Livestream, which was broadcast on BNGA Twitter and Binance Live, has been one of the most viewed livestreams ever on Binance Live with over 30K views to date.

The Vision of BNGA

One of the original elements of the vision from KC was how BNB Chain seemed extremely ripe for an initiative like the BNGA. He saw the chain as one which could lead to more organic growth. The BNB Event was a great catalyst that helped light a fire in the group and help it reach its full potential.

Before the group developed its initial platform and began to grow exposure in the space, there was considerable development behind the scenes. 

After some hit and miss experiences across other chains like Ethereum and Solana during the big market upswing in Spring 2021, KC explained how he began to get more involved in BNB Chain. What he saw on BNB Chain was enough to convince him to make a home on the chain.

‍“What I found very early is that it’s a different kind of chain. Everybody usually knows each other and is very welcoming on BNB Chain–– it’s more of a community. It’s a very different vibe. You really don’t get the ‘moon’ vibes that you might see on other chains,” KC observed.

KC admits there was already a space for BNB Chain NFT influencers and enthusiasts to gather, talk, trade, and hang out in the BSC NFT Lounge Telegram group. But he saw room for a more formalized group movement––not a movement to promote and share projects, but something that would be a force for positive growth, not just for single projects but for the individuals and ecosystem itself. 

‍“A few of us started talking about how we could pool together our resources. And I don’t mean money––but our time, our energy, our social media, our skills, our knowledge––and really work together to propel the chain. There’s no need to be cut-throat and be in constant competition if we agree to grow the whole ecosystem.‍

The formalized group that began forming is truly something unique. KC––and your writer––cannot recall any group across another chain that has brought groups together in formalized alliance to support the ecosystem’s growth. The project was born from a sense of helping each other because there was a lack of formal support from BNB Chain itself and from projects within the ecosystem. 

‍“Part of why this was started was because there was not a ton of support from higher levels, from the likes of Binance and BNB Chain, and that tide is slowly turning. But we said, ‘look, we can either help ourselves or stand here and wait.’ So we decided to get together and help ourselves,” KC declared. 

The Alliance grew organically and quickly right out the gate. However, despite the initial membership surge at launch, the group has shrunk. There was significant enthusiasm for the alliance as many NFT projects also felt the need for growth. The fast initial growth would eventually pose existential questions of why and how the group should exist. 

But that’s nothing to take away from the collective enthusiasm from projects around the industry. KC acknowledged that there were really no problems at all during the launch. Nearly all projects responded with enthusiasm and eagerness for contribution. With excitement brimming and a collective mentality, the BNGA was ready take on even the biggest challenges.

‍

What is the BNGA?

A good place to begin defining the BNGA is by telling you what it is not. It’s not a place for projects to shill their upcoming mints and use the alliance as a platform to accelerate their mint or gain exposure as they launch. That is exactly not the ethos of the project. 

Yes, there is some element of brand exposure and intentional spotlighting of projects, but the overall vision runs anathema to personal profit and aims more for personal growth.

‍“Those shill groups already exist. If we want this to remain credible and sustainable long term,” KC admitted. “It’s important we have standards in place that show no one plays favorites. It’s important to establish BNGA standards because if we don’t then things can implode and fall apart.”

The way the project rallied around the recent BNB Chain Event is a quintessential example of how the alliance can come together to support itself. Content creators and users quickly rallied around the validation from BNB Chain in an effort to prove their worth. In some ways, it also kicked the nascent project into gear. Things like a  Discord server were made in a day on short notice. 

‍“We’ve got 40-50 people from 20 or so projects and they all have different skill sets. The skill sets that exist within BNGA are everything you would need to grow an organization,” KC explained. “Seeing how everyone came together to make the BNB Event happen, I think that was the first time we saw the full force of BNGA can be and should be.”‍

At this time, the group is an alliance of nearly 40 individuals representing 25-30 of the top NFT projects from around the ecosystem. Each group and individual bring their own story and skills to the project that improve the diversity and capabilities of the group. Each person plays an integral part of the community for the exact reason that their presence––their skills, their contributions––are both accepted and needed in the space. 

The BNGA is about the sustainable long-term growth of the ecosystem. There is a democratic element to the alliance as it begins to find its form. The group has the structure and potential to help projects and shape the ecosystem in a positive way.

‍

What Benefits does the BNGA Begin?

Like the membership itself, the benefits of the group can have their own misconceptions. As mentioned, there is certainly an element of exposure and promotion to the group. The BNB Chain Event saw the BNGA show names of groups in front of thousands of viewers at the event. But that’s not the main focus or benefit.

KC explained that it is okay if not everyone on BNB Chain buys into the vision and wants to join. In fact, it is to be expected. The real value of the group comes from the ever-increasing value the collective force will bring to the space. KC mentioned how the alliance is becoming a catalyst in the growth of new projects and collaborations. He called them ‘unintended consequences.’ However, this type of product and response is entirely why the Alliance was created.

‍“The real value of the Alliance comes from the growth of the chain as a whole––in being a part of the solution to bring in new investors and contribute to the growth of the BNB NFT Space,” detailed KC. “One of our members always says that a rising tide raises all ships, and I think that is the core belief.”

The BNGA is now using the individual talents of their collective to flex events and projects. There are several projects on the way that have begun within the BNGA as well as events like the DeHuffski Twitter Spaces taking place to boost the Alliance’s exposure. The support from BNB Chain was itself an organic development that was a watershed moment for the group. 

The Alliance, as KC explains, is becoming a recognizable group on BNB Chain, with cross-chain projects seeking them out as a resource for understanding the atmosphere on BNB Chain. The Alliance is informally acting as an ambassador of BNB Chain to outside groups, showing them what it is like to work on BNB Chain, as well as how the chain is different than Ethereum or Solana. 

‍

Looking Ahead with BNGA

The BNGA is still in its early stages and still growing into itself. There is really no telling where the Alliance can go besides further growth. With a vision of enriching the whole BNB community, BNGA will work in tandem with the growth of the whole chain. 

Outside projects are looking towards BNGA as a beacon on the BNB Chain, something the group is embracing. The BNGA can become a model for more projects on BNB and other chains to see how crypto is not zero sum game. There is room for all projects to help the other and propel the whole chain. 

“What drew me to this chain is that I saw where it was today and the potential that exists. The number of unique investors on BNB Chain is significant, but the NFT market isn’t quite there yet […] There is a ton of metrics that show there is big room for growth,” added KC.

The BNGA continues to onboard more projects and is hosting weekly meetups with VCs to extend the reach of the alliance. With all the positive metrics of BNB Chain, its NFT industry is ripe for an explosion of talent and projects. The largest chain by users and activity is ready for NFTs to pop, and when it does, BNGA will be right there in the thick of it. 

Where to find more about the BNGA:

Twitter | Medium |

Source : bsc.news