So, we have all heard about NFTs and how they are making digital artists millionaires in a short time; and now you have decided to try your luck in this as well. If you are a digital artist and, on a journey, to launch your NFT, then it’s important to learn a lot about NFT launches and successful drops. Because if there are success stories, there are plenty of failures too…!
Over the past few years, we have worked with a lot of NFT artists and helped them with successful drops. But that’s not only it, we have also encountered artists who tried to launch their NFT personally and also worked hard to promote them in the market. But what happened next? They got failed in the initial stages.
And that’s completely normal.
Yes! NFTs are still new to many people. They hear stories of success but they don’t hear the backend effort and what strategies were involved in the overall success.
If you are one of them who is trying to launch their NFT but don’t know how to do it effectively, then this is the right article to read. Let us explain some tips that will help you in a successful NFT launch.
Tell a Story that Grabs People’s Interest
Let’s start with a simple assumption. You are an artist and you already own assets. Now you want to turn the assets into NFTs. They could be anything from photos to videos and avatars to merchandise.
But there is one important question that you need to ask yourself: Why people would buy my NFT? What’s special about it?
And to answer that question, you further need to ask yourself:
- What’s making my NFTs important?
- How my NFTs are unique from others?
- Why will people take interest in buying?
- What value does my NFTs deliver?
- Are my NFTs exclusive and special?
A successful NFT launch has already answered these questions. And the fact is, every successful project comes with a compelling story. It tells the audience why this NFT is important and what value it’s going to deliver in the future.
Choose the Blockchain and NFT Marketplace Carefully
For all the NFT artists, there are two important decisions to make in this journey. Where will I sell my NFTs, and which blockchain I’ll use to mint the NFTs?
Today, most NFTs are minted on Ethereum. And people sell them on OpenSea. Some big projects get benefit from alternative blockchains and even start their own NFT marketplace.
The benefit of creating your own NFT marketplace is, that you will have complete control over the launch. It will allow you to earn more revenue and often save people from paying high gas fees associated with Ethereum.
NFT marketplaces offer plenty of benefits to their customers, so it’s important to explore all the options before you launch your NFT.
Some larger NFT marketplaces are:
- Rarible
- OpenSea
- Nifty
- WAX digital
- Foundation
- And many more
Focus on NFT Marketing
It’s not only about launching your NFT, minting it, and starting trading. It’s also important to create some hype around your project and let people know what have you created and how it’s going to benefit them.
And this can be done with – NFT marketing. Once your NFTs are ready to be launched, it’s time to create a buzz and introduce them using all the NFT marketing strategies.
Well, marketing is something that cannot be handled by everyone. That’s the reason, many people skip that part. But the fact is, you cannot launch your project successfully until you inform people through different channels about your project.
That’s why, focus on NFT marketing which involves several significant strategies, such as:
- Social media marketing
- Influencer marketing
- SEO
- PR and outreach
- Content marketing
- Email marketing
- Website development
- And many more
You need to engage with a community and create a platform where you can interact with interested buyers and investors. Besides, social media marketing is a great strategy to generate hype. You can post updates, and stories, and send direct messages to people. Maybe there are tons of people out there who take interest in buying your NFTs?
Be Transparent with Pricing
If you are new to the world of NFT, you need to learn about pricing as well. Many small or new project owners keep extremely high prices of their NFT, and as a result, nobody takes an interest to buy.
Unless you are a big name in the industry, you shouldn’t think about increased pricing. If your prices are lower or moderate, many collectors will be tempted to buy your collection.
With too high prices, the chances of selling are zero to none. An ideal price you should aim for is 0.1 – 0.5 KSM for JPEGs as well as 0.5 – 1 KSM for audio-visual NFTs.
However, if you feel that your collection is worth much more, then you can definitely set a higher price. Remember one thing, it’s not about how you value the art you created, it’s all about what the market is willing to pay.
Set Your On-Chain Identity
Plagiarism has now become the biggest concern for all collectors. That’s the reason, it’s the best practice to set your on-chain identity. In this way, every investor and buyer of your collection will be able to know and verify who you are.
You can even link to your social media pages and email to your on-chain account, it will make it easy for the collectors to trust your transparency and legitimacy.
Are You Ready to Launch Your NFT?
Launching NFT and promoting it to a massive audience is hard work. But the fact is, all the effort pays off in the end. If you can learn and master the ability to launch your NFT collection, then remember, the sky is your limit.
However, if you are still unsure about creating and promoting your NFT, then it’s better to count on an NFT agency that helps you with everything. From launch to promotion, everything could be handled efficiently by the experts as they are already in it and know how to do it professionally.