As NFTs continue to gain popularity, many brands — both large and small — are jumping on the bandwagon to capitalize on this growing trend.
While most of the population is still becoming familiar with what an NFT actually is, it’s clear the benefits of non-fungible tokens extend far beyond the “get rich quick” stories that originally caused them to gain traction. Releasing an NFT collection isn’t just a great way to increase profits; it’s also an important part of engaging with the growing Web 3.0 community and embracing trends that will ultimately lead us into the future of marketing and branding.
Of course, like any successful campaign, it’s important to develop a clear strategy for your brand’s NFT launch before diving in. Let’s take a look at a few steps to consider when gearing up to release a branded NFT collection.
1. Think about what kind of art will appeal to your audience. If you aren’t in the business of visual art, ask yourself: what does my audience value? Sports? Humor? Fashion? Music? While your NFT should ultimately hold more than just its aesthetic value, it’s important to create images that persuade members of your community to open up their crypto wallets.
2. Build an engaged community before releasing your NFT. Whether you already have a large following on social media, or you’re just starting out as a new business, it’s important to tell your audience about your plans to release an NFT. It’s also worthwhile to spend some time answering potential questions about Web 3.0 terminology, ideally before your followers start asking.
3. Tease your art head of your full release. Once your community understands the meaning and value of NFTs and Web 3.0, it’s crucial to put a little teaser out there ahead of your full release. Just like movie studios release trailers or music artists release singles, it’s a good idea to give your audience an idea of your project beforehand, as they’ll most likely be more willing to invest in something they already know a little bit about.
4. Decide on an added value. As mentioned earlier, your NFTs have the ability to hold more than just aesthetic value. Think of NFT holders as members of an exclusive club. Your NFTs have the potential to grant them early access to new releases, physical gifts, exclusive digital content, and more. The possibilities are endless - it’s simply a matter of choosing an added value that your target audience will appreciate the most.
5. Create a plan and share it with your audience. This means not only sharing your launch date, but also your plan for when and where your NFT will be released and what added value, specifically, it can bring. You should also consider communicating your plan to include events, additional drops, and anything else that might appeal to your following. Will owning an NFT from your first drop grant them early access to your next NFTs? Let your community know what you’ve got in store!
6. Now, it’s time to mint your NFTs. This can easily be done through sites like OpenSea and Mintable for Ethereum, or AtomicHub for WAX blockchain. Assign dollar value to your NFTs based on your target audience and the plan you’ve created for your release.
7. Now that your NFT has been launched, it’s important to continue promoting your project by sticking to a social media editorial plan. Engaging with your biggest fans is crucial, as these individuals will become your most valuable promotional asset. Consider collaborating with a marketing and branding team specializing in NFT strategy to help demystify the process and assist in guiding your project to the finish line, and beyond.