Many NFT creators and digital artists think that all they have to do is mint an NFT collection and they’ll make millions right away.
In reality, it’s not that easy. It’s not enough to come up with a unique project and develop an equally bespoke web design in Miami to match it to get your NFTs selling like pancakes.
Out of the thousands of NFT projects that have been launched in the past few years, only a handful have sold newsworthy amounts.
As NFTs slowly make it to the mainstream, it’s becoming harder and harder for new creators and artists to successfully break into the industry.
Wouldn’t it be wonderful if all you had to do was come up with unique NFTs and then watch people buy them in droves?
But rarely does something like this happen. Ever.
For your ideal customers to buy your new NFT collection, they must first know that the project exists. This is where digital marketing comes into play.
Marketing does so much more than let people know about your latest NFT project. A good digital marketing strategy can help you achieve the following:
So, now the big question is how exactly should you promote your new NFT project to have a successful drop?
In business, telling a compelling story is an essential skill. It’s how you build credibility for yourself and your ideas.
So, how do you come up with a story for your NFTs?
The first question you want to ask yourself is: why should people buy them?
To help you answer this question, you need to ask yourself the following:
Whether you’re trying to sell videos, avatars, merchandise, art, or real estate, successful NFTs have a story, vision, and voice that captivates their intended audience.
Take Bored Ape Yacht Club (BAYC), for example. The narrative of this project is that in the future, a group of early, wealthy-beyond-belief, like-minded crypto investors form an exclusive club and gather at a yacht.
Each ape-themed character in the NFT collection portrays the various personalities you would most likely encounter from a futuristic, exclusive crypto club.
The reason why this project was so successful is that its story was able to speak directly to its target audience, affluent people in society referred to as “whales”.
The project banked on the idea of being a part of an exclusive world where people could only join by buying the NFTs. It also detailed the value and benefits it would give to its early buyers.
Use storytelling to explain the value of your NFT project and the journey you want to take your buyers on. You can even use your web design in Miami to help you deliver your story more compellingly just like what BAYC did.
To have a successful project and drop, you need to know where you should sell your NFTs and which blockchain to mint them on.
Usually, most NFTs are minted on Ethereum and sold on OpenSea. But you can explore other alternative marketplaces, such as:
Other major options for blockchains include:
Each marketplace offers various benefits and caters to different types of customers. Before minting your NFTs or selling them, research various options available, identify where your ideal customers are, and choose what’s best for your project.
Now it’s time to craft a smart contract.
An NFT smart contract is a self-executing system for implementing a sale agreement between buyer and seller that exists within a blockchain.
What’s great about smart contracts is that there’s no need for an intermediary or central authority to make sure that contract terms have been satisfied because everything is transparent and immutable.
Once implemented, the smart contract is updated. As soon as it is logged on the blockchain, its code will become unchangeable. Since smart contract codes on a blockchain are public, anyone can verify authenticity.
Smart contracts are crucial because they help ensure that your digital assets are indeed unique and non-replicable. They also protect your NFTs from being divided into small units for resale.
When creating a smart contract, there are a couple of things you need to outline, including the following:
Be specific and detailed. This is how you’re going to show the value proposition of your NFTs.
Successful NFT drops are all about building a community and getting them excited around your new collection or project. The more people see others getting hyped up about your upcoming drop, the more value they will ascribe to them.
But, how exactly do you build hype around your NFTs? Here are a few tricks shared by the most successful NFT projects:
Airdrop Tokens to Users of a Similar NFT Project
Find an NFT project that’s similar to yours and airdrop some NFTs from your collection to holders of your competing project’s NFTs. This is a great way to expand your reach and encourage those collectors to give your collection a try and experience your NFT.
Doing this also provides the following benefits:
Build a Strong Community Around Your NFT Projects
More than thousands of NFT projects have already been launched over the last few years but only a handful of drops are being talked about.
Why is that?
To be honest, it has nothing to do with the merchandise, art, video, photo, or whatever it is that a collector is trying to sell. Of course, the project or collection still needs to be exceptionally good, but it’s not the major deciding factor.
The community around your NFT is the powerful force that will bring success to your drop.
Take VeeFriends, for example. In less than a year, this project has become one of the most influential and unique NFT collections on the market.
What makes it so successful is the fact that its creator, GaryVee, took a unique approach with his NFTs. He created a community around his life ambitions and creative business passions, giving people the opportunity to be mentored, play tennis, or have one-on-one dinner with him.
The two major selling points of this collection are access and utility.
Through marketing, you can attract the attention of your ideal customers and convert them into an engaged, enthusiastic community. Here are some tips on how you can start building a community around your NFT project:
Create a Teaser and Post It on Social Media
One way to drive hype around your upcoming launch is to give your audience a teaser.
A good example of this is how the virtual sneaker company RTFKT made AR filters to allow potential buyers to virtually “try on” their sneakers before its launch. This attracted a lot of buyers: their sneakers sold out in 7 minutes and raised $3.1 million in sales.
Let potential buyers "experience" your NFT through an AR filter or by making teasers that will get them excited and push them to buy or bid for your NFTs.
Devise FOMO Around Your Collection
To build further hype and exclusivity around your NFT collection or project, you must bring out your target customers' fear of missing out on a good opportunity.
Here are some ideas on how you can engineer FOMO around your collection or project:
These tactics will surely help you build hype around your NFTs, boost their price, and attract an engaged community.
Don’t be afraid to experiment to see what works best for you or maybe take some points from some of the most successful drops to get an idea of what you should be doing too.
You want your NFTs to sell out quickly. It is these types of drops that make it to the headlines and have an increased value on the secondary market.
Ensure a Fair NFT Launch
Create a fair NFT launch to show your customers that you care about them and that you can be trusted.
According to Vitalik Buterin, here’s how you can achieve fairness in NFT drops:
Aside from these, it’s also crucial to follow a standard guideline for a successful and fair drop. Vitalik suggests that you do the following:
By authenticating each customer and setting purchase limits, everyone can participate in a fairer launch. Implementing this model also prevents crypto whales from using bots to hoard a large portion of your NFTs.
Another problem concerning fairness is the gas fees, the fee you pay to carry out any transaction on a blockchain. These fees can be notoriously expensive.
As a result, only crypto whales can afford to buy them. This results in a gas bidding war, which leaves others frustrated and spending more than they intended.
To address gas wars, you can create a customized waiting room where customers who arrived on time for the drop are given a randomized place in the queue.
When it's their turn, they can get out of the waiting room get back to your website and make a purchase.
Doing this prevents gas wars, keeps your site running smoothly, and enables you to run exclusive drops that are limited to your loyal fans, existing NFT holders, and those who signed up for presale.
NFT drops are one of the busiest days you need to prepare for to keep things running smoothly. Some of the most common problems encountered during launches are:
Make sure your technical support team is monitoring for issues and have plan Bs in place in case something comes up. You also want to optimize your Miami web design, such as increasing loading times, to keep things running smoothly on the day of the launch.
You also want your customer service team to be on standby on social media and in your communication channels, like Telegram or Discord, to answer questions or complaints during lunch.
You don’t want to make the mistake of being silent after a launch. As much as possible, you want to keep in touch with your community by posting regular updates on Discord or Telegram, as well as on social media.
You want to keep your communication open and provide troubleshooting support for your NFT holders, continue to engage them by releasing new features or updates, doing giveaways, and hosting events, and friendly games.
Here are some tips to ensure that you stay in touch with your community and NFT collectors after a drop:
Marketing plays a huge role in a successful NFT launch. Make sure you build hype around your latest collection or project and keep your community engaged to attract more buyers and drive the valuation of your NFTs to the sky!
At Digital Resource, our team of digital marketing experts and web design specialists in Miami will work with you to create a custom marketing strategy that will get you the buyers you need to sell your NFTs fast!
Contact us today if you want your next drop to make it to the headlines!