Nonfungible tokens, commonly abbreviated NFTs, have not spared any field. Right from celebrities to founders to sports people to film personalities, everybody is engaging with this new dimension in the crypto world.
In addition to these people, there are a lot of gaming companies and independent artists who have capitalized on this revolution, and it has made them earn millions of dollars.
The space of NFTs is getting crowded and immensely popular with every passing day. This creates a need for any new NFT creator/developer to market their own NFT.
Marketing an NFT is easier said than done. There are a lot of parameters that go into creating a perfect and precise marketing plan for your NFT. You will need to take into consideration, factors like your target audience, your marketing budget, the price of each NFT that you create, whether it will go into auction or will it be sold directly, the blockchain on which your NFT is going to be floated, the blockchain on which your NFT is going to be floated, and a host of others.
We have outlined below, some of the strategic NFT marketing activities that could be the shibboleth that will differentiate your excellent marketing efforts from the plethora of mediocre ones that lay scattered in this vast market.
Have a Strong Concept
A nonfungible token, as many of you think, it’s not just about a token that complies with certain standards on the biscuit. It is an element of technology that stands as a digital representation of something that holds and irreplaceable value. The replaceable value of the token can only be created when you have a strong concept or a story behind the token.
If you think about every successful NFT, they have not just been building tokens on the biscuit but have been building meta-verses that have been constantly powered by the biscuit.
A good story is an excellent selling material by itself… Not just for an NFT but for any product or service! Therefore, it is mandatory that you have a compelling, intriguing, interesting, and lucrative story for the consumer, so they buy your NFT.
Engaging with the Community
As most of you may have known, a lot of mainstream advertising platforms like Google and Facebook do not allow advertising anything related to crypto including NFTs.
This means that most news about NFTs will only spread through word of mouth. Platforms like Discord and Telegram have been adequately filling this space. It is not purely a game of numbers although.
Here again, there is a need to create engaging conversations that will prompt your users to participate. At the same time, it also needs to comply with the subject and the offering, so it does not distract or attenuate the appeal of what the focus group of your NFT buyers would want.
That single word said above has a lot of profound meaning, especially when it comes to marketing your NFTs. Let us all admit it! Although everyone would agree that there is no free lunch, everybody would surely love a free lunch.
Going by this, it is surely recommended that you have a lot of contests and giveaways that would get your crowd excited for participating in your community. The giveaways do not essentially have to be your NFTs. They can even be crypto money which will further encourage users to participate because they can earn some free bucks.
Piggybacking is essentially the art of hopping on to someone or some thing that has already acquired considerable momentum in the crypto space, so you can capitalize on their popularity.
Perhaps the biggest chunk in this territory of marketing would go to influencer marketing. You can engage with influencers across multiple platforms like Instagram, YouTube, and Twitter, so those influencers can talk about your NFT/story, and bring people to your website/drop page.
You can also give these influencers special privileges like automatic whitelisting of their refer users, some free NFTs to the influencers, and even some exclusive contests and giveaways.
You will need to, however, be extremely meticulous in choosing your influencers. So first numbers like the number of subscribers on YouTube or the number of followers on Twitter or Instagram might not suffice. You will need to look into deeper statistics like the magnitude of engagement and the intensity of activity.
Create your Own Content!
In all of this, should not be forgotten that Contant still remains the king of marketing. You can engage in content marketing practices that have steadily stood the test of time. The Evergreen contact marketing practices include but are not limited to videos, blogs, and even your website.
If your accountant can tell a story and if it is crafted in line with what is trending today, it could go a great deal in ensuring that your NFT offering gets its initial punch of success.
It is to be remembered that content can be created for different goals like ranking on search engines, becoming social media feed, and for any other exclusive marketing exercise that you might have.
Be Aggressive in Capturing Press
Press releases have remained one of the most credible sources of endorsing any brand and establishing its authenticity. The same goes for NFTs as well. It is good to engage a reputable PR firm, so they will take care of all your needs with regards to the expected popularity on the press.
A good press coverage by respected news body will give your NFT offering a lot of marketing muscles that will power even your other marketing efforts. The press release can also become a part of your social media feed.
Don’t Forget the Classics!
It should not ever be forgotten that anything that is crypto, at the end of the day, has something to do with digital. Therefore, the classic digital marketing dimensions like search optimization, email marketing, and organic social media engagements should never be forgotten.
People who might be active on new age crypto specific communities have always been active on classic social media platforms like Facebook and Instagram. It is essential to maintain an active and engaging presence on these platforms, and you should not forget the strategies that I’ve always worked on these arenas including but not limited to longtail keywords, capitalizing on trending topics on Twitter, and creating topical content for Facebook and Instagram.
For any NFT creator, we family believe that the NFT itself should be the focal point. It is, therefore, recommended that the NFT creator outsources their NFT marketing services to a company that specializes in NFT marketing and branding.
You can get in touch with an NFT marketing services agency, and they will take care to understand the requirements and presented with a perfect marketing plan encompassing all the elements that have been talked about in the above paragraphs. You can just sit back and relax… Or at least ensure that you spend your valuable time on improving your NFT rather than worrying about marketing it!
As a writer, Ruben is an advocate of blockchain technology and cryptocurrency in general. He writes about all things from cryptography to economics, with a focus on how it applies to cryptocurrencies. He is also passionate about writing about topics such as decentralization, open-sourced software development, and copyright law.