A Complete Guide on NFT Marketing for NFT Creator
What is the NFT?
NFTs are digital assets that represent physical objects such as art, music, in-game goods, and videos. They are often purchased and traded online with cryptocurrency, and are normally encoded with the same underlying software as the majority of cryptocurrencies.
NFTs have been since 2014, but they are growing popularity as a means of buying and selling digital artwork. In 2021 alone, the market for NFTs was worth a stunning $41 billion, which is close to the value of the entire worldwide fine art market.
In addition, NFTs are often one-of-a-kind or part of a very limited run and have unique identification codes. According to Arry Yu, chair of the Washington Technology Industry Association Cascadia Blockchain Council and managing director of Yellow Umbrella Ventures, “NFTs essentially generate digital scarcity.”
This is in stark contrast to the vast majority of digital products, which nearly invariably have a limitless supply. Theoretically, if a certain asset is in high demand, severing its supply should increase its value.
Data suggests that interest in NFTs peaked around the time that Beeple’s NFT was sold for a staggering $69 million and has since declined significantly. Therefore, it is essential that you differentiate and market your NFT platform appropriately.
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Currently, according to the popular currency tracking tool CryptoMarketCap, the entire market value of Meme coins is just shy of a whopping $30Bln.
What is non-traditional marketing?
Mark Cuban, a billionaire investor and Shark Tank celebrity, asserts that your next gaming card could be an NFT, despite the fact that the NFT fad is declining in popularity. The industry has potential and a legitimate application.
Despite their criticism, NFTs are in it for the long haul, thus it is crucial that your NFT initiative receives the publicity and promotion it merits. The following are methods for achieving this objective.
Which NFTs sell the most?
Among the fundamentals of marketing for NFT platforms is ensuring that your product is not marketed as identical to that of your rivals. Given the abundance of NFT-based methods, it is essential to have solid foundations and assure product distinctiveness. Discussing the features of your NFT-based project and what sets you apart is an effective strategy.
By enhancing your website with an immersive UI (User Interface) and making it visually appealing, you may differentiate your brand. A captivating website, description, or explanation of why you launched your NFT enterprise is essential. Keep in mind that ‘less is more’ and concentrate on describing your attributes in as few words as possible.
In the instance of Cryptopunks – a popular NFT collection, its popularity is due to its limited amount, age requirements (the platform is almost four years old), and the fact that no two sets of NFTs are identical, as each NFT is one-of-a-kind. Today, even the cheapest Cryptopunk NFT costs a stunning $30,000, and an unidentified Ethereum whale is rumored to have recently purchased a set of 16 Cryptopunks for a mind-boggling $6,000,000!
Participation in the Crypto Community on Telegram, Discord, and Reddit
After establishing your NFT project, the next stage is to cultivate a community around it. This enables you to maintain contact with your investors and users, continually inform them on your project’s progress, and engage in a constructive dialogue about the ‘future’ of your NFT initiative.
Twitter, Telegram, Discord, Bitcoin talk, Reddit, etc., are the go-to platforms for establishing a community. Notably, the NFT community is fairly comparable to the gaming community; hence, Discord may be a prudent choice (also the platform of choice for many NFT Marketplaces, more details here). Ensure that the support team/administrators are courteous, knowledgeable, and have an in-depth understanding of NFT and Blockchain. Read our guide if you require additional information on crypto community management.
Moreover, as vital as it is to vary and broaden the reach of your project across a variety of Social Media platforms, it is also critical not to spam and appear natural. Give more than you take, and don’t only try to promote your project.
The NFT community like memes, so feel free to share one occasionally.
Top Telegram Chats for Distributing NFTs to the Greater Community Include:
On the other side, browsing NFT Discord Servers is a relatively simple process on discord. Simply click here to view a detailed listing. Top servers consist of:
- r/NFT
- Opensea
- larval laboratories (creator of Cryptopunks)
Each user’s avatar is based on the cryptopunk aesthetic, suggesting that this is the most active community.
NFT Airdrops, Bounties, and Giveaways as Marketing Campaigns
NFT Giveaways are a common topic of conversation on Twitter. The purpose of a giveaway is to create brand awareness and spread the word about what you have to offer. In addition, doing so would increase signups for your NFT Marketplace, as account creation is required to claim the NFT in question. This could be a requirement for participation in the said giveaway to assure that it would attract new users.
Increasing Cryptocurrency Search Engine Optimization (SEO)
Focusing on specific and trending non-fungible token (NFT) trends (e.g., NFT development services, NFT gaming platforms, etc.) in the world of cryptocurrencies is highly profitable. Using precise keywords helps attract potential users to your website and piques their curiosity. If your NFT project is a marketplace for buying and selling NFTs, it is essential to have a sufficient trading volume to ensure that it preserves its liquidity and that your users can sell their NFTs without enduring a lengthy waiting period. Targeting Search Engine Optimizations (SEO) and Latent Semantic Indexes (LSI) phrases that are frequently used by persons searching for an NFT-based protocol is a smart method to do this.
This can be accomplished, for instance, by creating a Twitter bio that clearly specifies the industry you operate in, using the proper hashtag (if any), and including a link to direct some impressions/clicks to your website.
Cross-Marketing on Additional NFT Marketplaces
There are already NFT Markets where you may sell your NFTs and tokens. There are numerous possibilities available, so choose carefully. When doing so, it is essential to analyze your available options and the type of service you intend to provide.
Top NFT Marketplaces include:
OpenSea
OpenSea is an ancient NFT marketplace, having begun in 2017, and it is also one of the largest NFT marketplaces in operation today. It hosts numerous well-known non-fungible tokens, including as art, music, photography, trading cards, and virtual worlds.
OpenSea’s key cryptocurrencies are Ethereum, Solana, and USDC, with additional cryptocurrencies available as payment choices. Please be aware that you cannot use fiat currencies such as the U.S. dollar or the euro.
Positively, OpenSea is extremely user-friendly for novices. You may register a free account within minutes and immediately begin exploring NFTs, and you can also construct NFTs on their platform.
OpenSea levies a fee equal to 2.5% of each transaction to cover expenses. In addition to paying the gas fee, you must pay the fee for completing NFT transactions with Ethereum. Gas fees are the transaction fees that miners are charged.
To avoid the gas price, you can purchase and sell NFTs through Polygon. However, you must confirm that the NFT item in question displays the Polygon logo.
In conclusion, OpenSea is an excellent alternative for newcomers seeking a basic marketplace and as many possibilities as feasible for NFTs.
Rarible
Rarible enables users to purchase and sell art, collectibles, video game assets, and non-fungible tokens. It may be purchased and traded with Ethereum, Flow, and Tezos.
It charges a flat 2.5 percent fee plus any applicable gas fees for each transaction. A credit card can be used to purchase NFTs, enabling transactions in fiat currencies.
An intriguing part of Rarible is that it generated its own native token, RARI, rather than having internal management decide everything. RARI holders have the right to vote on company decisions, such as policy changes.
Rarible announced a cooperation with Adobe in 2021 to facilitate the verification and security of metadata for digital content, including NFTs.
It could be the ideal NFT marketplace for individuals who desire access to a broad network with robust connections. In addition, it still maintains a decentralized mentality.
NBA Best Shots
If you are an avid basketball fan, the NBA Top Shot marketplace allows you to purchase NFTs of historic basketball events.
You can purchase video clips, highlights, and artwork for both the NBA and WNBA. However, some of these Moments are expensive. In February of 2021, a LeBron James slam dunk video fetched $208,000.
This NFT marketplace was created and is managed by the NBA, which has sole rights to these video clips. In addition, you are aware that you are dealing with a major, respected firm.
The NBA Top Shot market is one example of a prominent company that has adopted this approach. Others include the DraftKings Marketplace and the NFT marketplace of the Associated Press. This year, even GameStop intends to develop an NFT marketplace.
Moment NFTs can be purchased with credit/debit cards or a variety of cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, DAI, and USDC. Of course, fees are added to the purchase price, regardless of whether you use a credit card or a cryptocurrency.
Binance
In 2021, one of the main cryptocurrency exchanges, Binance, created a market for NFTs. The international cryptocurrency exchange is one of many industry participants entering the NFT sector, alongside Crypto.com NFT, which advertises itself as a carefully curated NFP marketplace.
Binance NFT provides the same digital assets as other big platforms, including works of art, gaming items, and collectibles.
A major benefit of Binance NFT is its extremely low fees. The site deducts merely a one percent trade fee. Additionally, it is a user-friendly platform developed with the same technology and layouts as their exchange.
As a major participant in the cryptocurrency industry, Binance operates on its own blockchain, providing it an advantage.
NFT Marketing Strategy
Establish strategic NFT partnerships
Cross-promotions are possible when collaborating with like-minded and comparable NFT projects, which benefits both parties. Although partnerships are not limited to cryptocurrencies and NFTs, you should test the waters outside of it.
The following is an NFT of a digital CocaCola bubble jacket that is offered for auction on Opnesea. Your NFT-based protocol is likely to gain popularity not only with existing NFT users, but also among brand enthusiasts (in this case, Coca-Cola fans).
Create an NFT Future Growth Roadmap
A roadmap is “a plan or strategy intended to reach a specific objective.” The roadmap serves as a sign of your commitment to transparency and explains your NFT Marketplace’s future objectives.
The following is a road map for NFTTech, a new NFT marketplace, outlining its ambitions to achieve exponential development and establish a solid foothold in the industry.
Utilize Crypto Influencer Marketing and Public Relations Press Mentions
Press Releases (PR) and Influencers are effective tools for distributing information on various Social Media platforms, whether they are Cointelegraph articles or the hire of influencers to generate buzz and hype for your project.
Rae, a renowned Instagram celebrity, has put her artwork up for sale on the following NFT. They have reportedly sold approximately $3,500!
If you thought Rae’s NFTs sold for a lot of money, wait till you hear how much Snoop Dog’s NFTs went for. Snoop Dog is an American rapper and songwriter with a devoted fan base. This NFT is rumored to have had bids as high as $108,000!
By collaborating with Christie’s, a renowned auction house for artworks, Beeple was able to sell an NFT for a staggering $69 million. You may accomplish the same by collaborating with renowned art houses.
Popular Art Houses where your NFT collection can be displayed are:
Sotheby’s is one of the largest dealers in fine and decorative art, jewelry, and collectibles in the world. It had a $623 million auction turnover.
– Christie’s With an annual auction turnover of $481 million, it ranks second in the NFT business.
Therefore, assuming you have a strong PR/marketing campaign, you are likely to cause ripples in the NFT ecosystem. Consider that brand perception is crucial, and prioritize quality above quantity.
Host AMA Sessions regarding your NFTs.
Conducting regular AMAs (Ask Me Anything) is an effective technique to promote your project and inform potential consumers why they should utilize your NFT product. Request that the AMA organizers ask you the most relevant and pressing questions, to which you will respond exhaustively.
Following is a recount of an AMA that was held for an NFT Marketplace.
Be sure to offer incentives for participation.
Develop NFT Limited-Only Collections
Having a unique NFT Collection is another method for luring potential consumers to your NFT Marketplace. Rarible is a well-known NFT marketplace achieving this.
Ensure that the special NFT collection is animated (since this gives the impression of immersion) and has a sound concept. The majority of NFT Marketplaces simply create a new category for this function.
Conclusion regarding NFT Marketing Techniques
Many inside the crypto sector have referred to NFTs as a gold rush, and while they have found a legitimate use case, it is essential to stay abreast of the most recent NFT Marketing trends. While the majority of NFT-based platforms are familiarizing themselves with the newly established industry, feel free to expand your horizons and determine what is appropriate for your project. Explore NFT Marketing tips or strategies to create exponential development without fear of thinking outside the box.
As a general rule, you can always check Lunacrush for PR mentions and to see if your NFT-based protocol is trending. Using Artificial Intelligence (AI) and Machine Learning to evaluate data from a vast array of sources, the website monitors this.
In search of the Best NFT Marketing Agency? Regardless of the technique you choose, you must select the best NFT Marketing Agency to assist you with your NFT Marketing Strategies. Discuss the optimal plan and give your NFT project the marketing and visibility it deserves.
