NFTs are probably the most exciting innovations in the crypto world. And, you must learn to promote your NFTs whether you are a creator, marketer, or entrepreneur.
The NFT trend has completely taken over the Internet in the past year or so, with massive organizations across countless industries finding their own ways to create valuable digital assets.
You will see a thread, community groups, posts, podcasts, videos, and pretty much every shared space on the internet talking about NFTs (Non-Fungible Tokens).
Whether you are a creator launching a new NFT project, or someone helping NFT creators, you will need to learn the proper ways to promote your NFT collection.
Let’s discuss some old and new ideas of marketing to advertise NFTs.
The techniques we discuss here will give you the confidence and foundation for your marketing plan to gain some momentum in the NFT industry.
Why Promote NFTs?
Despite being a completely new market, the demand and supply of NFTs have been on a rapid rise. The competition is growing as all kinds of companies have already gotten into the NFT business.
Whether you are an artist trying to promote your NFTs or a gaming company, you will need to think of your NFT project as a business (or a company) and get the basics right.
Most NFTs will FAIL
NFTs are like the startups of web3.0. And, new businesses fail all the time, in fact, most startups fail. In 2019, the failure rate of startups was around 90%.
It wouldn’t be a stretch to assume that over 95% of NFTs that exist today will fail within the next three years. (Author’s opinion, not backed by data)
But, there’s a simple reason why most NFTs will fail. The NFT creators don’t know what they are doing.
- The artists who have gotten into NFTs for a quick buck are likely to fail.
- The new startups who jumped into the NFT business by reading the numbers will fail.
- And, a lot of the projects started by the big companies will fail as well.
Learn to Promote NFTs and you won’t fail
Marketing, promoting, or advertising your NFTs, whatever you want to call it, will help you to attract people who will help you grow.
Every NFT project you have heard about whether through TikTok or a blog is an example of a well promoted. Nyan the flying cat with a pop-tart body sold for $600,000 purely due to its genius marketing.
When people keep talking about NFT projects, they also keep reselling for better prices. Celebs like Eminem and Justin Beiber have bought Bored Ape Yacht Club NFTs for hefty sums.
Key Note:
- Focus on the value: Remember, NFT is just a digital contract or ownership on the blockchain, but what really sells is the value attached underneath the NFT. (We’ll talk about it in detail in a while.
What can you achieve with proper marketing of your NFTs?
- Build hype around your NFTs and increase awareness of your project.
- As interest increases, so will the demand. Higher demand leads to a boost in prices for your NFTs.
- Establish your reputation as an NFT artist or a brand.
Dos and Donts of NFT Marketing
There is the right way of marketing your NFTs, and there is the wrong way. Let’s get into the wrong ways first.
Do not Spam people through Social Media or Email
Everyone remotely interested in NFTs gets 100s of DMs on Instagram about the next big NFT project that could make them reach. And frankly, people are exhausted now.
A majority of these messages lead to scams, and even your genuinely intentioned messages will end up falling into the same category. Even if they are your target audience, you are gonna rub them the wrong way. The worst thing you could do for your project is to appear like a scam.
Using the wrong Influencers
Influencer marketing works wonders in every single industry. However, choosing the right influencer is key, especially in the NFT world which has been riddled with scams and frauds with every next click.
Using an onlyfans model cause she has a million followers would not help with the legitimacy of your brand.
Offering Nothing but the Jpegs
If you think people are buying NFTs because they want to change their profile picture to a fancier jpeg, you need to re-learn the concept of NFTs.
What is the value you are providing with the NFTs? Is it an in-game skin, a unique piece of art, or a membership to an exclusive club? You need to be clear about what you are selling and communicate it well.
The Right Way to Sell NFT
The wrong ways of promoting NFTs mentioned above are only the tip of the iceberg, and any newbie could be tempted to do them.
The right way of doing things, however, isn’t too complicated either. If you have heard of the 360 marketing plan, we are going to be following more-or-less similar techniques of promotion.
The core of marketing concepts remains the same, whether you are selling shoes in-store or as an NFT on NFT Marketplace.
You need to cover these basic steps before the Grand Launch of your NFT collection. These are a must prior to any other advertising initiatives for your NFTs.
Create a Website
This is the same advice you would have heard if you were launching a new company 10 or 15 years ago. A website legitimizes what you do for a normal person just getting into the NFT world. Plus, you get to decide on the information you provide.
Not to mention, a website allows you to optimize your website for SEO, create landing pages to direct-to via paid advertisements, social media, email marketing, and more.
Your website can only exist on web2.0 for the moment. Soon, you will be able to create websites on the blockchain itself. Stay tuned to our blog for more web3 and NFT content.
Focus on SEO
While there are a lot of NFT projects, the competition in the SEO space is relatively low. Talk about NFT project, write about your goals, mission, and provide value. If you can optimize your blogs, whitepapers, and other content materials for SEO with the right keyword search
Build Social Media Presence
Another textbook advice is to share your NFT projects and create a buzz on social media. Start by creating your own accounts on social media platforms like Twitter, Instagram, and Tiktok.
Build a social media marketing plan for each platform, and share posts, videos, and stories of your NFT project. The main idea is to tell people that there are real people behind this NFT project, and you are serious about what you are doing.
Also, if you can put a spin on your content and create viral content, you will have a much higher chance of people looking into your project and potentially buying it. This is another step to legitimize your claim in the NFT market.
Community Building on Discord, Telegram, Clubhouse, and more
Join NFT communities on discord or telegram to figure out how they work. You need to plan and create your own NFT community to really create a buzz around your project.
NFT community is the secret behind the NFT success, as we have seen throughout the year 2021. Communities are as important as the art and the collectors in the NFT space. Take Bored Ape Yacht Club for example. Eminem bought his way into the BAYC NFT community for over 400k, and Justin Bieber paid $1.3 million to be a part of the community. They were not just paying for the jpegs of the apes, but what the BAYC had potentially in store.
BAYC has started to host real-life events and meetups, opening new doors of networking.
Another powerful example of the NFT community is the “Women Rise” movement led by Pakistani-born Maliha Abidi. This NFT project’s mission is to empower women in crypto and blockchain.
If your NFT project has a mission behind it, you will find it easier to invite people to your community.
You might not have a project as big as BAYC, where it’s exclusive to buyers only. But, you can certainly create an NFT community open to NFT enthusiasts. Some of them might be buyers while others might be there to support your mission. If you can create a proper community, you will have people on different stages of your marketing funnel, in a single discord group.
Key Note: You are joining and building a community to engage with people not to spam links or post BUY BUY BUY.
NFT Influencer Marketing
As mentioned before, choosing the right influencer is the key to sending the right message. There are new influencers popping up on various social media channels that have built their fanbase and community with their expertise and/or relevancy in the crypto/NFT space.
You are more likely to buy a phone when MKBHD talks about it, as opposed to Kylie Jenner. The same rule still applies.
If you are an artist trying to promote your NFT collection, the kind of influencers to look for would be NFT art collectors with a good following, crypto analysts who predict NFT boom, and you might also be able to cross-promote NFTs with other artists.
Side tip: Build a relationship with the influencer.
Create a shortlist of the influencers you are interested in, and learn about them. Note what they are interested in, who their social media pages cater to them, and think about how you can generate value for them.
Podcasts
There is a podcast about every single topic, which just means there are people willing to talk and listen to every single topic. If you are not willing to start your own podcast, find your way into podcasts talking about NFTs, blockchain, or other relevant topics.
Podcasts are a great platform to reach a large group of people who tune in to listen to specific topics. So, you will be able to share your expertise and make them interested in your projects.
Promote the Value, not the jpegs
The fundamental thing to remember is that no one cares about what you have to sell. Not at first at least. You have to make people interested, and that’s probably not going to happen because your jpeg is interesting. Not only jpegs, but your NFT could also literally be anything. But, as a buyer, what do I gain from being a part of your NFT community?
What is the true value I am getting? What is your mission? Are you here to sell as many NFTs as possible to make a quick buck, or do you have a vision?
These are the questions you will have to answer as an NFT creator if you are serious about this space. The potential for NFTs in the new wave of blockchain-based internet is massive, and we have only scratched the surface with what’s possible.
As an NFT creator, you have to serve the community and provide some form of value. And, in return, you might earn loads of money, experience, and make your mark as we head into web3.0.
