Non-Fungible Tokens (NFTs) are sold for millions of dollars and have attracted the attention of investors, tech enthusiasts, gaming players, and art collectors worldwide. Today, everyone wants to own an NFT. Therefore, we have compiled the definitive NFT marketing guide for artists in 2022.
Not all NFTs, however, are valuable. The price of your non-fungible token is set by your NFT marketing strategy, formulated by NFT professionals who cultivate a digital community of users, develop many influencers, use digital marketing, and employ social media to promote additional bids.
Due to the fact that people cherish rarity and originality and are willing to pay any price for it, a high demand for a rare NFT collection naturally raises its price. Why do individuals spend thousands or millions of dollars for JPEGs that they perceive as “simple images”? Its price is determined by its originality.
NFTs are merely digital assets, but unlike other cryptocurrencies such as BTC, DOT, ETH, and others, they can be exchanged because of their uniqueness.
This guide will help you through the entire process of developing your brand, marketing your NFT to catch the attention of high-quality art fans and NFT customers, and implementing sales-driving marketing platforms.
How Can Your Company Benefit From NFT Marketing?
To enhance brand awareness, marketers at organizations of all sizes are experimenting with NFTs.
For instance, Norwegian Cruise Line worked with an artist to produce six NFT artworks for the debut of their newest vessel class. Each item was auctioned off, with the proceeds benefiting Teach for America.
The Hundreds, a legendary streetwear company, created the NFT project Adam Bomb Squad. The collection includes 25,000 unique explosives and backgrounds that illustrate the brand’s 20-year history. The ownership of an NFT in the project confers particular privileges.
Hundreds of other brands, both major and small, have established NFT initiatives and supported them with marketing campaigns.
If you want to exploit NFTs for your startups or small business, here are ten best practices for NFT marketing:
1. Create an NFT Future Growth Roadmap
This is the initial step you should take. A roadmap is “a plan or strategy for reaching a particular objective.” The NFT roadmap demonstrates your commitment to transparency and explains your future NFT objectives. You can acquire valuable lessons from the route plan of a prominent NFT brand.
2. Examine the NFT Communities and Ecosystem
Before plunging in and beginning an NFT project for your company, take the time to familiarize yourself with the sector and its markets. Ask essential questions such as:
- What business objectives can be accomplished with NFTs?
- How do NFT marketing function? Are there any observable patterns?
- Who should you partner with as an artist? Do they align with your market or business?
You can only enter the NFT industry with assurance if you are well-prepared. Keep in mind that this is unexplored territory for the majority of firms, and everyone is experimenting with various techniques.
3. Host AMA Sessions About Your NFTs
Regular AMA (Ask Me Anything) sessions are a powerful approach to promoting your project and provide prospective users with compelling reasons to adopt your NFT project. Permit the AMA organizers to ask you the most topical and pressing questions, to which you will provide detailed responses.
Create something long-lasting The majority of NFT artworks are vibrant and influenced by hallucinogenic modern art. These digital artworks are intended to dazzle and maximize their value. Your company should try to develop an NFT that provides a distinct and enduring experience. You do not want to provide something that becomes monotonous over time.
There is no way to predict NFT prices. Some ventures go viral and sell for absurd amounts of money. Quantum by Kevin McCoy, a pixelated, multicolored octagon, was sold for $1.47 million due to its intriguing and surreal appearance. Everyday by Beeple sold for $69.3 million, making it the most expensive work of art ever sold at the NFT. It is a collection of the artist’s daily musings from 2007 until now.
However, the majority of NFT projects fail, particularly when they were built just for financial gain and not as part of an extensive digital marketing effort.
4. Listing in the Appropriate NFT Marketplaces
Listing your non-fungible tokens on the proper NFT marketplace is one of the earliest and simplest methods for selling them. If you wish to sell your NFT, you must list it on the appropriate market. Taco Bell, for instance, has a well-known NFT experiment. They created a series of NFT pieces inspired by their brand. They disappeared in less than thirty minutes.
5. Try to Build a Community
The NFT industry grows within a community of support. You should engage and connect with the community if you want to advertise your company’s non-fungible tokens (NFTs).
On Twitter, NFT collectors often discuss their collections. Focus on establishing and enhancing your relationship with your target market. Engage in conversations and get knowledge from the community.
6. Email Marketing
You can utilize this email marketing method as an artist or content provider to send insightful emails to purchasers or members of your community. Numerous marketing firms use MailChimp to send their target audience automated emails. Customized communications are sent to interested persons based on their choices and interests. You can select unique designs, themes, and material to share with your target audience and, as a result, build a sizable following that follows your brand’s actions.
7. Focus on Creating NFT Art as Well as Other Mediums
Keep in mind that NFTs are not exclusive to digital art. NFTs can be created from any digital content, including music and photographs.
And if you are not a designer, you can always discover an NFT designer that can assist you in developing your first NFT collection.
8. Invest in Online Forum Promotion
Participate in NFT-related discussions on numerous crypto forums, and use this to increase the favourable visibility of your material on Reddit, Bitcointalk, Telegram, CryptoTalk, Discord, and Twitter, among others. This marketing technique for the NFT project generates free word-of-mouth advertising. It may also encourage investors to purchase your content or product.
9. Target Paid Advertising Networks
Cost-Per-Click and Cost-Per-Thousand-Impression are the two most excellent tactics for NFT Paid Promotion on the NFT Advertising Platform.
Even though Google prohibits the use of its advertising services for crypto-based initiatives, one of the oldest marketing strategies is to reach out to your specialized bitcoin audience. A targeted marketing campaign for your NFT project on popular currency tracking websites typically yields a high and moderate ROI with vast impressions.
CoinMarketCap, Lunacrush, Coingecko, Bitmedia and Coinzilla are among the best NFT Crypto Advertising Networks. Additionally, they can use Google Ads and Bing Ads to increase their NFT sales.
You are permitted to distribute both NFT collectables and physical copies of your work. Artists commonly do giveaways in this manner: participants are required to follow the artists on Twitter/Instagram, tag a friend in the comments, retweet or share their Instagram Stories etc. It produces more interest in your NFT Collection, enabling you to both gratify your following and be discovered by other individuals.