Got a bunch of artistic ideas but don’t know how to plan a GTM for an NFT collection? This article has got it all covered. At this point, if your designs are already ready it would be great if you do not rush it onto an NFT marketplace like Opensea without pre drops marketing and tapping into your potential audience.
Before we get into the nitty gritty of your NFT collection marketing plan, it is important to be fully aware of whether your goal is to earn by selling artwork or connect the artwork to a business product. For example, the purpose of BAYC, Cryptopunks, etc was to garner crypto degens to invest in their assets and get full copyright of the NFT work to reuse it in other digital assets. The way Snoop Dogg used his BAYC to launch a new video is one solid example of IP use of NFT.
Here is How You Can Get Started With NFT Marketing for Brand Awareness
The Asset Collection: The most important part of your marketing strategy for NFTs is to describe your collection really well. The motivation behind creating your artwork. Is it a tribute to something or someone? Is there an underlying theme?
Decide Timelines: NFT marketing is quite similar to developing a product for people to buy, trade, or use for their personal and commercial use. The drip marketing formula must be applied 6 months prior to launching the NFT collection. The drip funnel of creating brand awareness starts with releasing a few teasers of the NFTs. Post about your NFT collection philosophy and what the hero NFT of your collection conveys the true meaning of the artwork. For creating brand awareness you can start posting content on Reddit, Quora, and Twitter primarily. In addition to digitally marketing your NFTs, you can also attend events where you can speak about your NFT idea and how you hatched it and are now nurturing it.
Choose the Right Blockchain
Solana is currently the top blockchain for minting NFT assets. The chain hosts a vibrant creator and collector community. Some of Solana’s benefits are low transaction costs, an easy minting process, and the availability of hassle-free user on-ramp solutions like Stripe. The chain is one of the closest competitors of the Ethereum blockchain. In a recent Messari report, it was revealed that NFT sales denominated in SOL increased by 19.3% and reached an all-time high in Q1 2023. The top NFT marketplaces on Solana are Magic Eden and Solanart.
Even though Ethereum is ranking second at the time of writing, the chain still possesses the OG status. Ethereum was the first blockchain to commercialize NFTs and build a kaleidoscopic ecosystem of developers, creators, and collectors. What makes Ethereum stand out is the fact that the most revered NFT projects are active in the ecosystem. Since the chain was the first to leverage DeFi, it is obvious that the Ethereum ecosystem offers a wide range of on-ramp minting and selling tools and marketplaces that attract users from a non-native cryptocurrency province. The top NFT marketplaces to mint ETH NFTs are Opensea and Rarible.
The undisputed king of the cryptocurrency market has recently moved from being just a payments network to a full-blown DeFi protocol. Bitcoin has seen a surge in NFT minting after a set of individuals experimented with NFT minting on the Bitcoin network. Many prominent NFT projects are moving their project to Bitcoin for getting a higher value for their digital assets. Gamma.io is the best platform for both native and non-native crypto users.
The above blockchains may see a change in volumes and activity due to the high volatility of the underlying asset. Hence, choose the blockchain carefully.
Choose the Right Dependants
As a new kid on the NFT block, it is important that you have lesser people involved in the project but they must be reliable in terms of executing plans and improvising them if required.
Pre-reveal and post-reveal: NFTs require the same amount of buzz as an ICO would need. Essentially the NFT you sell to a collector or trader may want to understand the post-sale value and the perks, perhaps the utility of the NFT.
Social Media Marketing: While social media marketing of NFTs may seem a cakewalk but it is not. Create a content calendar for your NFT announcements and the narrative of your NFT collection. Use the story as your ‘Elevator Pitch’ to talk about your NFTs without sounding mundane.
PR and collabs: Choose a PR publication related to web3 or perhaps NFT to reach the correct audience. In addition to releasing a news piece on your NFT collection launch, you can also connect with fellow NFT artists or relayers to help you reach more people without having to bore a hole in your pocket.
Word of Mouth and Social Media Buzz: The strategy is inherently viral. Influence crypto and NFT advocated talking about your project. a lot of buzz and FOMO (fear of missing out), can attract potential digital art collectors.
There is no wrong or right or ideal time-tested formula to promote NFTs but this article covers certain points that will help you navigate through the unexplored arena of digital assets.
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