NFT marketing strategy

You, Me and All now have a NFT collection. We have now understood that creating a NFT or a collection of NFTs aint a big deal. The real deal is selling them. And to sell your NFT, you need to reach the person who wants to buy them. Instead of a spray-and-pray strategy that everyone follows, lets employ some laser focused NFT marketing strategies that work! I recommend you to give the entire article a quick read, as all the techniques explained here are sort of interconnected. Leaving out some may affect the other action items.

Note: We can classify NFT owners in 2 broad categories. The first are those who try to sell a collection of generative art NFTS ex: BAYC, Cryptopunks etc. They have a large collection that may vary from few hundred to a few thousands. The second type artists who convert art work to NFT and sell them. They usually have much lesser counts. Some of the NFT marketing hacks revealed here may not be suitable for one of the types. We will mention this as well information in each strategy discussed.

Follow the 30/ 70 rule properly

( Best suited for generative art style NFT collections )

Quickly, for those who have not heard of this 30/70 rule: You hold 30% of the NFT collection for the management team. And distribute 70% to the community. The big mistake everyone makes here is, dropping the NFTs in the wallets of users who dont care. You need to make sure that the NFTs you distributed to the community reaches the wallets of active NFT traders. If this alone is done properly, your project already has a 60% success ratio. But why is this so important?

– Lets say you have a collection 10,000 NFTs. 70% of this is 7000. If you can squeeze in the extra effort to reach each of these NFTs to 7000 individual active traders wallets, these people become your sales team. It becomes an agenda for them to sell the NFT they hold for a profit. If even 5000 of them put up the NFT for sale, this will make your NFT brand reach so many potential buyers. And as the next next buyers increase the price and put it up for sale, over period of time the base price of per NFT increases. It triggers a network effect.

– These 7K people would obviously display their possession on their social media accounts ( as a post of as a display picture ). Just imagine the viral reach your NFT concept gets. One way or the other the news spreads and you have more potential buyers checking out the price of your NFT on marketplaces.

Note: NFT artists who are trying to sell individual artwork can also take advantage of the above strategy. By using the latest concept of ‘Fractional NFTs’. We have discussed this concept in detail further below in the article.


Note: This all seems too over-whelming to do? You can hire an agency like this to do it for you.


Leverage the power of social trends to build your community

Ok, this aint going to be the regular rant about social media marketing. In this exercise we split your NFT artwork concept into 2 or more broad categories. Lets say for example, the NFT art has a Dinosaur pixelart image in it. We can put this art work in 4 different categories: NFTs, Dinosaurs, Extinct animals and Pixel art. The more categories you can put it under, the better. Now as step 1 use the top social media channels like Twitter, Facebook, Instagram, Pinterest, Linkedin etc. and post it under the respective HASH tags. As we know each HASH tag has a dedicated set of followers. And your NFT will be of interest to all of them, as it has those elements required. Followers of these hash tags will like and share your artwork, thus spreading the word to thousands.

Next find all the groups, forums, discord rooms, reddit channels etc. and post your artwork there. People in general like art, and if it is in their area of interest they will definitely give it a look. Many would infact share it. If you also provide a link to your Twitter along with the image, they will start to follow you. Its important that you dont provide a link to your Opensea sales page here. Once they follow your Twitter, from there you can subtly guide them to your collection on NFT marketplaces. This overtime will build a strong following and community for your works. If this NFT marketing strategy is done recursively it can increase the footfalls to your NFT landing page significantly over time.

NFT Marketing strategy

Launch in batches with offers:

Its very important how you showcase the demand is for your NFT in the initial days ( even if its not picking up momentum ). When potential buyers land on your NFT collection in marketplaces, they need to get a feel that there is demand for the NFT. How do you achieve this? Dont put all your NFTs for sale in one go. Lets say for example you have 4000 NFTs. Launch them in batches. First put up for sale the first 1000 NFTs only. Also dont open the sale on an auction model ( if you are not confident that many are going to bid ). Keep all the NFTs as “Make an Offer” and sell them as people make an offer for each. Also if possible announce a good offer for the first batch ex: 50% off. And keep reducing this offer in the next next batches.

If the above approach is followed with patience and perseverance, your NFT sales will steadily start increasing. Also you will be able to measure things and keep the demand image under control. It will give the sense that many of the NFT owners are not selling but holding on to it. And only a some are for sale. This point not just stands for a good NFT marketing strategy, but also gives your NFT brand a good impression for Buyers.

Note: This all seems too over-whelming to do? You can hire an agency like this to do it for you.

Decide between Pre-mint & User-mint strategy:

This strategy is for those having a massive NFT art collection ie. 1000’s of NFTs. One of the recent methodologies followed is to Deploy the smart contract and open it up for anyone to mint it. One of the primary advantage you get is the GAS fee is bared by the minter. Infact this would be a very apt strategy if your collect is on chains like ETHEREUM where the gas fees are huge. The next advantage you get is, as customers spend time and money and mint the NFTs they get a skin in the game. They are more active and work towards increasing the price of the NFT collection. Also you get to build your community in an organic manner. And also if you can put a condition in your contract that only 1 NFT can be minted per wallet, it will be all the more better. If you prefer to allow your users to mint their own NFT, checkout this readymade Software that allows you to do this instantly.

But remember there is also a small downside to this NFT marketing strategy. If you are not able to convince thousands of users to spend on gas fee and mint your NFTs, your collection will endup not being minted fully. On the other hand, if you Pre-mint all the NFTs and list on marketplaces like Opensea, Solanart.io etc. it has iits own advantages. The primary one being discoverability. With so many NFTs being listed on the marketplace, it can pop-up on searches easily.


To be updated in the coming days:

– The Chain you launch on is very important. Why?

– Create Tie-ups with Token launches providing earlybird NFTs:

Summary
Ingenious NFT marketing strategy - that just works!
Article Name
Ingenious NFT marketing strategy - that just works!
Description
This is an NFT expert's answer to 'how to market your nft?'. Curated in this article are techniques and NFT marketing strategies that work like a charm. Each of the hacks discussed here are tried and tested.
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Fast&Clean
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