NFTs, or non-fungible tokens, are digital assets that are unique and can be owned. NFTs live on blockchains, the same technology that powers cryptocurrencies like Bitcoin; however, they’re not the same thing as cryptocurrencies!
The concept of non-fungibility is important because it’s the basis for how NFTs work: no two items in a fungible asset are identical to one another. A fungible item can be replaced with another fungible item in order for both parties to still get their desired outcome.
Know your audience – who are you trying to reach with your NFTs?
Your audience will ultimately dictate what type of NFT you create. For example, if you’re an athlete who is looking to sell NFTs as a sponsorship or advertising opportunity, then you likely want to create NFTs for Athletes that are tied to your performance in a specific sport.
You need to know your fan base and what type of NFTs they would be interested in. Do your research and find out what other athletes are doing with their NFTs.
Create quality NFTs that your fans love
Your fans are a diverse bunch, and they’re loyal to you for a variety of reasons. Some may follow you because of your performance on the field or your celebrity status, but many others have an interest in your personality and lifestyle as well.
It’s important to be authentic as you create NFTs for your fan base because that authenticity is what will truly connect you with them. As someone who knows how much their support means to you, they’ll appreciate feeling like they know the “real” you—not just the one they see on television.
To achieve this level of authenticity, it’s important that you take time to really understand what kind of content your fans want from you. What they’re looking for today may not be the same needs they’ll have tomorrow—and being able to change with them will only bring more success and excitement into their experience of being a fan. And if there are certain things about yourself that don’t align with what your fans want? Then it’s better left out when creating NFTs in order to avoid backlash or bad publicity later on down the line!
Have a clear and concise marketing strategy
An effective marketing strategy is essential to ensuring your success as an entrepreneur. Your marketing strategy should be clear and concise, tailored to your audience, flexible enough to adapt to changing circumstances, and include a plan for reaching your target market. The following is a sample marketing strategy we recommend you consider:
- Identify your target market. Who will want this NFT? Who do you want to acquire it?
- Set a price point. Consider offering tiered pricing options so that those with smaller budgets can still participate in the project.
- Determine what medium you’ll use for promotion and distribution. What platforms are most likely to get the attention of your target market?
- Identify the goals of your campaign—for example, how many NFTs you’d like to sell within a specific time period or when you’ve reached a certain number of backers or supporters.
Use social media platforms to reach a wider audience
Social media is a great way to reach a wider audience. If you already have a large social media following, make sure to use those platforms as an opportunity to advertise your NFTs by posting pictures and videos of them on Twitter (with #NFT in the caption), Facebook, Instagram, etc. That way, even if people don’t buy your NFT immediately, they may become curious about what it is and click on your link in the description. If you don’t have a large number of followers yet, use social media for marketing purposes by using hashtags like #NFT or #cryptoart when posting about your NFT art. You can also tag different artists and creators who inspired your work to help expand awareness of it to their followers as well.
You don’t have to limit the promotion to social media either—you can use other online platforms like YouTube or Twitch as well!
Be patient and stay focused on your goals
It can be easy to get discouraged by setbacks, but if you focus on the process and continue to put in the hard work, you will see results. It takes time to build up a following and generate interest in your work, so be patient and stay focused on your goals.
Even if you don’t make a ton of money right off the bat, you can always reinvest those funds into creating even more exciting NFTs. In time, you can build a steady income stream and use it to expand your business even further.