Challenge: Sell out the new collection of AgoraDEX Loot Boxes and activate community before the Public Sale
We elevated AgoraDex from its Alpha stage to a successful Public Sale by implementing strategic marketing initiatives. By leveraging targeted creative campaigns, effective KOL promotions, and comprehensive campaign management, we didn’t just promote the new Loot Boxes — we built a thriving community and positioned AgoraDex as a leading cross-chain DEX in the Web3 gaming ecosystem.
We combined creative campaigns, KOL promotion, and campaign management to deliver undeniable results:
- 4,000 loot boxes sold out
- 400+ unique buyers
- $170 average amount spent per user
- 115 unique Jackpot winners
About the client
AgoraDex is a cross-chain DEX backed by SwissBorg that enables efficient trading across multiple blockchains with low slippage.
AgoraDex connects top gaming projects across various chains to provide users with a wide range of assets and a seamless trading experience.
Services provided
- Creative campaign
- KOL promotion
- Campaign management
Timeline
- Started working: March 2024 – April 2024
- Time worked: 2 month
What is a Loot Box?
AgoraDex introduced an exciting new feature called Loot Boxes. These mystery boxes, available to buy via the platform, unlock random prizes, including valuable NFTs, tokens, and other unique rewards across multiple top gaming projects.
Some Loot Boxes contain golden tickets, which can be collected to enter a jackpot draw for a chance to win even bigger prizes. Prizes also included collectibles from top NFT collections in the Web3 gaming ecosystem:
- 5 Yoga Petz: Unique and collectible digital pets.
- 9 PixelMon: Exclusive pixel art creatures.
- 7 Genesis Bakers: Original and rare baking-themed NFTs.
On top of NFTs, the Loot Boxes also included $AGA tokens which provide holders with privileges in the Agora ecosystem, including earning Loot Box revenues, accessing exclusive Loot Boxes, receiving purchase discounts, benefiting from token buy-backs and burns, and having governance rights in platform decisions.
The total reward value of the Loot Box collection exceeded $100K.
Gameplan
Our challenge was to design and execute a creative KOL campaign to maximize the reach, engagement, and sales of the Loot Boxes. We began by identifying and onboarding KOLs to promote the new Loot Box feature, with the goal of selling out 4000 Loot Boxes and driving community engagement.
To achieve this, we selected influential KOLs who aligned with AgoraDex’s target audience. We managed the entire campaign, from content creation to promotional strategies. We focused on interactive and mystery-driven content to drive engagement. Laura, our CEO, secured a $100K token allocation for KOLs, successfully raising $100K for AgoraDex.
Here is how we did it.
KOL campaign
Our KOL campaign was carefully designed to skyrocket community growth by selecting key opinion leaders who aligned with AgoraDex’s target audience. We picked KOLs known for their influence and credibility in the crypto and gaming communities to ensure they would effectively reach and engage potential buyers.
Each KOL gave away up to 5 Loot Boxes, creating real buzz and excitement. The thrill of potentially winning valuable digital items kept the audience engaged and eager. Even if people didn’t win in the giveaways, they were still motivated to purchase Loot Boxes for just ±$20 due to the potential rewards.
This strategy worked exceptionally well, driving hype and resulting in all Loot Boxes selling out quickly.
Scope of work
- KOL selection and onboarding: Carefully selected and onboarded 10 KOLs to promote the new Loot Box feature.
- Campaign management: Managed the entire campaign to ensure maximum reach and engagement.
Results
- 4,000 Loot Boxes sold out.
- Number of unique wallet buyers: 401.
- Average number of Loot Boxes bought per user: 9.3.
- Average amount spent per user: 188 MATIC (≈$170).
- Maximum amount spent by a single user: 3900 MATIC (≈$3,500).
- Number of unique Jackpot winners: 115 users.
- Total number of Jackpots won: 214.
Examples of KOL posts:
Campaign metrics
COST
Across the campaign, the Client spent a total of $4,775 in KOL budget.
IMPACT
Across the 11 KOL posts, AgoraDex campaign gathered:
- Comments: 1,710
- Retweets: 2,453
- Likes: 3,935
- Views: 318,396
RESULTS
As a result of the campaign, we achieved exceptional cost-effectiveness, particularly:
- Price per retweet: $1.95
- Price per view: $0.01
Top 3 successes:
- Engagement campaign that brought over 320K Views
- Successfully generated high engagement with 1,710 comments, 2,453 retweets, 3,935 likes, and 318,396 views.
- Achieved a cost-effective promotion with a price per view of $0.01.
- 4,000 Loot Boxes sold out
- The Loot Boxes were a complete sellout. The campaign’s effectiveness speaks for itself.
- High user engagement and spending
- Managed to attract significant user participation with 401 unique wallets buying Loot Boxes, averaging 9.3 Loot Boxes per user and an average spend of 188 MATIC.
Final insights
By managing the campaign from end-to-end including content creation and promotion strategies, we were able to exceed all targets during our 2-month collaboration with AgoraDex.
Key insights:
- The excitement of Loot Boxes drove high participation.
- Unlike typical NFT giveaways, Loot Boxes’ randomness added an element of excitement. The potential to win a high-value prize kept users engaged and eager to participate.
- The possibility of bigger rewards kept people coming back.
- The element of surprise and the chance to win larger prizes motivated users who received lower-value rewards to keep buying more Loot Boxes, hoping for a bigger win.
- Low entry barrier increased accessibility and engagement.
- With each Loot Box priced at just $20, many users found it easy to join in. This low cost encouraged more people to participate and even buy multiple Loot Boxes, driving higher engagement and, ultimately, sales.
