5 Tips for Creating and Marketing your own NFT
If you’re reading this, then chances are you’re interested in blockchain technology and the new opportunities it provides. One of those opportunities is non-fungible tokens or NFTs. These tokens are unique and can be used to represent a variety of things, from digital assets to real-world objects. This blog post will discuss 5 tips for creating and marketing your own NFT!
Tips to create and market NFT
Consider your goals and make judgments based on those considerations.
From the beginning, make it clear what you want from NFTs and how you intend to use them. This should be the driving force behind your selections. Of course, it depends on whether you’re a well-known artist who’s just starting out or if you’ve already established yourself in the art world.
Is this a serious attempt to establish an NFT company or only a side project motivated by a nagging sense of intrigue? Your primary motivation is money? If you believe that NFTs will be an essential part of your creative future, you should think about selling low the first time and keeping an open mind.
On the other hand, don’t rush to sell at a low price if your work is already fetching high prices in other markets. It’s possible that selling at a loss is the only way to gain a following if you have none.
Ensure that your initial NFT is not priced excessively
When creating your NFT, it’s important to make sure that the initial price is not too high. This can alienate potential buyers and make it difficult to sell your tokens. When pricing your NFT, consider how much value it provides and how easy it is to obtain.
Don’t be naive to believe that just because the image’s subjective artistic value and market excitement would attract a buyer.
Even though the value of art is inherently subjective, it goes to say that a person’s reputation and track record are crucial considerations. New artists may have to price their work more competitively to gain a following.
As a consolation prize, NFT developers get paid royalties on every subsequent sale. As a result of the smart contract that exists on the blockchain, one can anticipate getting 4% of future sales of NFT depending on how much the first one was sold.
Overall, when it comes to accessibility, setting your initial NFT price to reasonable figures is one of the best things you can do.
Make sure you’re aware of “gas expenses” and how to reduce them.
Transactions on the Ethereum blockchain incur “gas fees,” which cover the computational effort required to mint and complete any sale. NFTs and the related demand for processing power have led to a rise in these costs, which may not be expected by novices. However, the right timing can save money. Be cautious when transacting in US time zones.
It is possible to mint NFTs using the Solana blockchain instead than Ethereum on OpenSea. Despite being less developed, Solana’s gas prices are frequently 100 times lower than Ethereum’s. It is meant to perform more transactions per second than Ether. Alternatives to OpenSea, such as “Layer 2” NFT systems like Immutable-X, include reduced gas fees. NFTs can be created and traded on the Ethereum blockchain, but the blockchain transactions are batch-processed to save money. To create a large number of NFTs at once, look at these possibilities. Fees should be included in your selling price in order to maintain a profit.
Market to potential customers by identifying them.
Networking and community are the lifeblood of NFTs. As a result, there is a wide range of buyers on the marketplace, from people looking for edgy artwork to the person who ended up purchasing a beginner’s work. Some are enthralled by the visuals. Others are motivated by the prestige and exclusivity that come with having something unique.
Consider who your ideal customer is and make an effort to establish a relationship with them. Your goal should be to broaden your audience by disseminating NFT expertise through books and articles. Making and selling NFTs is another method to accomplish this goal.
In order to identify a customer, it is essential to make contact with industry leaders and thought leaders. Former Wall Streeters like Jordan Belfort and Snoop Dogg are now NFT influencers. Smaller-known artists, most probably, would be more likely to provide their support to an up-and-coming artist who was also attempting to build a fan base.
As time goes on, you will meet an influencer who is interested in your writing and art. After you close a deal with an influencer, always follow suit by using social media to your advantage, using Instagram, and tweeting about your purchase. Other collaborative NFT projects combining your writing with their visual works will now be explored.
We believe that a product that is sold as a set will be more appealing to consumers. As a result, combining your marketing efforts with your shared audience is important.
Stop procrastinating. Make a move right away.
When the market is still in its infancy, consider minting your first NFT with a digital production like an image, music, or video file. Sales of high-end NFTs are just the beginning of a cultural revolution. In New York City, the first worldwide NFT conference was held. On Twitter and Discord, there are large and developing NFT communities.
MGM Studios revealed James Bond NFTs, Warner Bros. announced Matrix NFTs, and Quentin Tarantino announced NFTs for Pulp Fiction. Investors, producers, and the general public are becoming more and more interested in the subject.
A small investment and some technical training are all you need to break into a huge market of potential customers. As a blockchain newbie who enjoyed shooting pictures and understood little about NFTs, that picture you do not rate at all could be just the right fit for your first NFT. It is possible that your first work of art may already exist and serve as your entry point into the world.
Chat with the expert NFT promoters and marketers at Mooning
Sure, all the examples of NFT promotions we listed are from global brands with endless coins to throw at their campaigns. But you really don’t need a crazy-high budget to see some seriously incredible outcomes – as long as you know the delicate intricacies of building a killer NFT marketing strategy!
If not, no worries – Mooning is here to take care of everything for you and make sure you see the most amazing ROI you’ve ever seen before. Our team has the knowledge and experience to promote your NFTs in order to deliver maximum awareness and interest, driving the sales prices up sky-high and beyond.
We provide a full suite of expert NFT marketing services and go above and beyond for every one of our clients to ensure only the best results. Our team will help with everything from minting, listing, and selling, NFT creator sourcing, community management, and campaign conceptualization.
So get in touch with us now on 1300 818 435 or message us online.