NFT stands for Non-fungible token, which is a digital certificate of ownership for a unique cryptographic asset. Such an asset won’t be interchanged with another thing. Unlike fungible assets like dollar bills that are interchangeable and indistinguishable, NFTs are one-of-a-kind items that cannot be swapped or duplicated. And this attribute makes them scarce, raising their value. You can only tokenize them to create a virtual certificate of ownership that can be traded. These digital artworks and collectibles are maintained in an online ledger called a blockchain. Some key examples of NFTs include images, virtual artworks, and Tweets.
Once an individual or a company creates an NFT, the next step is to promote it to the right audience. NFT marketing is a challenging task requiring a specific strategy. If you lack the skills or time to market your digital collectibles, you can hire an NFT marketing firm to assist you. Here, we explore the various steps that can help you create an NFT marketing plan.
Why NFT marketing is important
Before exploring the various steps of creating an nft promotion strategy, it’s important to know why NFT marketing is essential. Successful NFT marketing campaigns help to create buzz around your NFT project. Because the value of NFT has gone up, the market is awash with digital artworks and collectibles. The competition among sellers and resellers is stiff. So, if you want to sell your NFT at a higher rate, you must stand out from the crowd. Also, you must create and share messages about your offering to enable people to access it. And this is how the NFT marketing strategy comes in. NFT marketing campaigns create the public’s interest in your offering, identify the target audience, and direct the audience to your objective: to bid on your piece.
Steps of creating a marketing strategy
Now that you’ve understood why NFT marketing is essential, let’s focus on creating a promotion plan. Here, a marketer needs to explore the mind of an NFT buyer and discover how they walk through a buyer’s journey, the platforms they use, and the content they like reading. Confused? No worries! Here is a clear breakdown:
- Audience identification
- Determining the best platforms to link with crowds
NFT marketing requires vast amounts of resources. So, it’s essential to identify the right audiences for your offering. And this enables you to avoid wasting resources in promoting your products to everyone. When identifying your target audience, you need to understand the kind of work you produce, the aesthetics of your work, the groups you’re part of, who has bought your artwork so far, etc.
Determining the best NFT marketing platforms
Now that you know your target audience, the next step is to determine the best platforms to communicate with. NFT audiences are likely to be found on various social media channels that blockchain groups prefer. The prominent examples of these channels are here:
a) General Platforms for NFT marketing
- Reddit, Discord, and Telegram: most of the crypto audiences are found on these channels. Through these platforms, you can engage with creators, NFT fans, sellers, and buyers of NFTs.
- Clubhouse: the platform features various themes on NFTs, crypto, and DeFi. You can create your own club to engage communities, participate in discussions, and get opinions from professionals.
- Facebook: With multiple active users, the Facebook platform is valuable for NFT community building and marketing.
- Instagram: With over 500 million active users, Instagram mainly attracts young adults aged 18-29. Because many NFT buyers and resellers are young adults, building an Instagram NFT page is critical. NFT marketing through Instagram can boost your promotion efforts.
- Twitter: This channel is excellent when you want to share prompt updates, announcements and straight away respond to your follower’s Tweets. Remember, shares, retweets, and mentions can be powerful techniques for gaining exposure.
- LinkedIn: It’s the best platform for brand building and linking with investors. You can also find all kinds of NFT groups and communities to join.
- Steemit: It’s a crypto-based blogging and social media platform that rewards users who craft and publish content.
b) Best NFT marketplaces
There are many existing platforms where you can list your digital pieces. You can also consider creating your own NFT marketplace. The platform you choose should fit the attributes of your NFT project. Here is a list of NFT marketplaces:
- Opensea: it’s the largest marketplace for NFT marketing, which features art, domain names, and digital worlds.
- SuperRare: It concentrates on virtual art.
- Rarible: It’s an NFT marketplace focusing on art, photography, music, etc. The website has a discussion section where you can engage your audience.
- Myth Market: Here, you can sell and buy one-of-a-kind trading cards
- MarkersPlace: This marketplace is available for everyone and accepts virtual arts.
The above NFT marketing tactics are general. There are specific NFT marketing tactics, such as collaboration with influencers. Working closely with influencers can boost your NFT marketing efforts. You can find NFT influencers on various platforms, such as Reddit, Instagram, YouTube, Twitter, etc. While connecting with the best influencers can be a daunting task, you can consider hiring an NFT marketing agency to help.