You’ve probably heard and seen the hype around NFTs, the hot topic right now. Non-fungible tokens appear to be gaining popularity, but they are more than just a way to assert ownership of digital art. People are figuring out how to use them to help others. NFTs have been in the headlines all year. From major digital art auctions to critics claiming they serve no function, there is a rising interest in these tokens. According to Forbes, NFT sales exceeded $2 billion in the first quarter of 2021, and they have the ability to revolutionize traditional business.
What is exactly NFT?
In essence, an NFT is a collectible digital asset that has value as a piece of art or culture and as a cryptocurrency. It is a sort of data that consists mostly of art or music and is stored on a blockchain. Data is presented in a form of a token that can be purchased and resold; often, royalty can be paid to the original creator for each sale. The Ethereum blockchain contains the majority of NFTs. Ethereum is the second most popular cryptocurrency, trailing behind Bitcoin, except its blockchain also enables NFTs, which hold extra information.
NFTs are designed to give you something unique: ownership of the work (though the artist can still retain the copyright and reproduction rights). In terms of physical art collecting, anyone may purchase a Picasso print. The original, on the other hand, may only be held by one individual.
How to launch your NFT
Creating your own NFT artwork is a rather straightforward technique that does not need significant crypto industry knowledge. Before you begin, you must decide which blockchain you want to use to issue your NFTs. Ethereum is by far the most broadly utilized blockchain technology for the issuance of NFTs at the moment. However, several other blockchains are gaining popularity such as Binance Smart Chain.
Every blockchain, whether Ethereum or Binance , has its own unique set of features. It has its own NFT token standard, wallet services, and compatible marketplaces. Open Sea, Super Rare, Nifty Gateway, Foundation, and Rarible are the main NFT marketplaces.
So you’ve created an NFT and successfully listed it. What should you do now? Waiting for someone to notice your treasured token will not get you very far. You’ll have to promote it yourself. That is the most difficult aspect, and it has nothing to do with the artistic process itself. Yes, it is just as rigorous and selective as the physical art industry.
Alternatively, you can create your own marketplace. It can enable an instant sale of your digital assets and collectibles. By creating your own NFT marketplace and selling your own NFTs, you are making it exclusive and distinct, drawing more attention to yourself. Nonetheless, it begs the question of how consumers will know about and see your marketplace. Well, if you promote it properly, it can make a difference.
How to promote your NFT
NFT marketing raises the awareness of your project, creates a community of NFT aficionados, and allows you to generate more bids on your NFT marketplace, resulting in maximum profits. NFT promotion is an art in itself. You’ll need to use social community building, growth hacking, SEO, content marketing, public relations, and paid advertising to reach potential customers.
Influencer marketing is quite hot right now. Influencers have the power to influence the purchasing decisions of others since they are experts in their profession. NFTs and social media, particularly Instagram, go hand in hand, and influencers help spread the word about your digital artworks, resulting in increased traffic conversion, improved project visibility, and higher bids. Since influencers have thousands of followers, you may profit from addressing niche communities without creating one. Influencer marketing is an important aspect of your NFT marketing plan, and social media, in general, is essential for community development and NFT promotion.
You must build a demand for your NFT if you want to sell it at a high price. Social media platforms are ideal for spreading the word about your NFT asset. For example, Twitter is an excellent medium for informing your followers about the launch of NFT. The first step in promoting your NFT project is to revive your Twitter account and begin stalking the #NFT stream. Follow anybody who appears to know what’s going on. Browse the many artworks, ‘like’ something you like, leave a few kind comments, and repost for extra points. In the realm of NFT, community contact and support are crucial.
You should organize frequent AMA (Ask Me Anything) sessions to actively connect with the community on various digital media. Large Telegram groups and YouTube channels are the most popular venues for AMA sessions. You may also reward community members for their participation in the community.
In terms of the number of crypto users, Telegram remains the “number one” platform. Make sure that when you communicate in the project chat, you are competent, pleasant, well-versed about the project, working on the FAQ, and responding to inquiries and feedback in a timely manner.
One interesting use of NFTs is to promote community development and engagement. NFTs have made it possible for organizations, celebrities, and individuals to auction off their digital creations, with all proceeds benefiting a charity of their choice. Non-fungible tokens are an excellent approach to generate funds since they offer digital exclusivity and one-of-a-kind assets. There have been numerous large NFT drops with a philanthropic component, and we are optimistic that many more will follow.
The ultimate goal is to generate a buzz around yourself on multiple platforms, which is beneficial not only for getting enough feedback from the community but also for promotion so that others would be interested in what you have to say and present.
As people become more aware, more NFTs will emerge, increasing competition. NFT marketing is necessary to promote NFT collectibles sales and specialized NFT marketing companies are offering services to build communities to boost sales.
There is undoubtedly a gold rush for NFTs out there. While other companies are still learning the ins and outs of it, be the one to create a breakthrough. Don’t be hesitant to try and promote your project.