None of us have ever thought about the hype created by NFTs in the market. When they first emerged, very few people knew about them as they were not much beneficial for most of them. But slowly with time, NFT has gained extremely vast potential and growth.
If you are a businessman, buyer, or investor, you must feel eager to launch your own NFT collection. But what does exactly it take to create a successful NFT launch?
Let us help you reveal the secrets that help launch your next NFT collection successfully without any difficulties.
Launch Your Community
Your community is somewhat what determines the success of the NFT collection. Whether you are an independent artist trying to sell NFTs or a growing brand that wants to experience the NFT space first-hand, always remember that your collectors must be your top priority.
You need to develop your own community. Whether you want to set up Discord and Telegram to connect with people or engage with potential audiences regularly, you have to build a community first.
Moreover, there is never a perfect time to build your community.
The more effort you will put into building a brand, the better chances you have of selling your NFT collection successfully. By doing this, you can simply build a loyal fan following for the long term.
Always invest time into platforms where your potential buyers spend most of the time. It’s not necessary to use every social media platform, create a stunning website, or have a viral YouTube channel for selling your NFT collections.
Here are the tips for building a community successfully:
- Find platforms where all the buyers and investors spend most of their time and then try investing in their channels.
- Create strong connections with NFT buyers as well as crypto enthusiasts
- Prefer to buy the original 1/1 NFT art.
- Join the Twitter community to spread ideas and information about your collection.
According to NFT buyers and sellers, Discord is an extremely helpful and popular platform for people interested in crypto and NFTs. Other platforms like Twitter, TikTok, and Telegram are also quite important to spend time and share information about NFTs.
Price Your Collection Fairly
Another important secret to building your project successful is to set up your initial NFT mint price fairly and correctly. Because when you charge a high of a mint price upfront, you might lose all the momentum, fail in selling your NFT collection, and also the support of your audiences.
To set a correct and fair price, you need to set a fair royalty on secondary NFT sales. When you will set a high royalty, your holders might not be able to capture enough value from the community they helped created which could eventually deter them from minting your NFT.
Some common pricing tips are:
- Spend some time with your community and talk about setting a fair price.
- Consider your goals and vision and your ability to offer long-term value to your audience.
- Research and analyze some top NFT projects on different platforms like Nonfungible.com or Dune Analytics.
- Set a fair price to invite different supporters to participate. Make sure you don’t make it expensive.
Plan a Roadmap Wisely
We all know that a successful NFT launch is very fun and exciting. It is just the first small step of creating a big project that can easily withstand the volatile nature of the sensitive NFT markets where people flip NFTs to earn money.
When you do that correctly, your most revenue will come from different NFT royalty payments from secondary sales, which makes it critical to add more value to your NFT collection after mint.
There are lots of pros and cons of developing a DAO, you can consider making a proper DAO where all the holders can promote, participate, and push their NFT projects forward.
Thinking of different ways that can add more value to the people investing in your NFT project can create more excitement and enthusiasm.
Communicate with People More Often
Make sure you communicate more often with the core team of contributors and proficient communication can literally make or break your project.
With different “rug pulls,” that keep your community updated with several crypto communication tools such as Discord and Telegram is quite essential.
The worst thing many people do to derail momentum is going silent after their first NFT launch.
Follow these tips to maintain regular communication:
- Follow a proper and regular communication schedule and make sure you stick to it always.
- Hire someone professional who can support the overall community.
- Develop some effective educational resources as they can help the holders understand what is going on.
- Have different moderators online who can answer all the questions.
- Make sure you post regularly in the #announcements channel and also tag @relevant people.
- Follow urgent communications which include roadmap setbacks, hacks, etc.
Invest in the NFT Code
When you create your NFT collection, it is important to ensure that your code is well-written and highly effective so that you can protect the users from potential threats and exploits.
Whether you are working with an in-house developer or outsourced the NFT contract, it’s very crucial to work with the best development team that can help manage complicated things very easily.
It’s recommended to hire a smart contract auditing firm for the successful launch of your NFT collection, it is also good to have the contracts reviewed as it can save you from potential threats.
Conclusion
Launching your first NFT collection shouldn’t be a headache. In fact, it should be a fun and exciting project. As long as you follow the above tips and ideas, we are sure that your first launch will be as successful as you have dreamed.
In case you need help, you can always consult with the professionals of NFT Unfold who offer reliable guidance to the people who want to launch or promote their NFT. So give us a call and share your project so that we can create an effective solution for your project.