Who hasn’t heard of NFTs, the new talk of the town (and not just crypto towns anymore!)? For those who are unaware, NFTs or Non-Fungible Tokens are units of data kept on a blockchain that verifies that a digital asset is not only unique but also non-interchangeable. NFTs can take the form of anything from photos, videos, and audio to any type of digital file, including tweets.
Collectors and speculators are obsessing over these digital artworks, just as they are with traditional paintings and art, and more people are jumping into the NFT bandwagon resulting in a big boom in the NFT arena, where artists can now sell their work for thousands of dollars and earn substantial amounts of money. Beeple, a digital artist, recently sold his work for a staggering $69 million, emphasizing the significance of the NFT space.
Are you a creator/artist looking to get your work listed as NFTs? Have you been confused about the right way of listing and pricing your work? This article will help you with all the essential info on how to get your NFTs listed and how you can promote them across various channels.
How to market your NFTs
- NFT Marketplace
Just like your regular content where you need social media, SEO, PR, etc., to promote it, NFTs also require the same infrastructure. The first step towards promotion would include getting your NFT listed in any NFT marketplace. To do so, you will also require a digital wallet in order to be eligible for trading. Some of the most prominent NFT marketplaces include OpenSea, Rarible, AtomicHub, WazirX, Enjin, etc. If you’re a beginner, it is recommended that you go through each of these marketplaces thoroughly and then make an informed decision about which platform you will be used to buy or sell NFTs.
When choosing an NFT marketplace, consider factors like accessibility, registration, ease of trading, etc. While some platforms, like Rarible and Mintable, allow anyone to upload and sell photos and text as NFTs, others, such as Zora, are only open to invitees. Similarly, some platforms allow anything to be sold as NFTs, while others only allow for carefully curated pieces.
- Price Discovery
Artists and creators sometimes struggle to identify or set the proper pricing for their NFTs because the NFT market is still relatively new and evolving. Indeed, some NFTs fetch exorbitant prices, while others go unnoticed. If you price your NFT too high, you may never sell it, and if you price it too low, it will be tough to raise the price next time. The NFT market needs democratisation.
Using uniform prices across numerous platforms, increasing the price steadily but consistently, utilizing gamification and unlockables, and so on are all methods and tactics that can help you establish the pricing of your NFT. Sometimes you’ll even have to wait patiently till the ideal price comes along.
You might also try out Fusible, which is a price discovery platform for NFTs. Traders can use Fusible, which is based on the Binance Smart Chain, to liquefy their NFTs and form pools. After that, creators can use an accurate curve-based price discovery to help them determine the optimal price. The protocol also ensures that the market remains extremely liquid while being accessible from anywhere on the planet. Fusible also offers fractional ownership, allowing buyers to own a piece of an NFT while still benefiting from price appreciation.
- Effective marketing
It’s time to market your NFT through the relevant channels once you’ve established price discovery and set reasonable pricing. There are a variety of marketing strategies available in today’s market, ranging from social media promotion to sponsored ads and public relations. Influencer marketing is also a good idea because it ensures that your promotion reaches the right audience.
Another great strategy is community engagement because nothing beats the strength of communities in delivering remarkable results. With the increasing popularity of cryptocurrencies in general, there are a number of crypto and NFT forums on major platforms such as Telegram, Reddit, and Twitter. People are more likely to trust these groups because, unlike a paid campaign, they generally contain active members with honest viewpoints.
You could also try out collaborations with top NFT marketing agencies, which will create and customize creative marketing strategies for your NFTs, making them popular among the NFT community and resulting in high selling prices.
NFTs have a bright future ahead of them, and now is the perfect time for artists and other creators to get involved. Many industries have begun to reap the benefits of the sale of NFT tokens, which has heightened competition among businesses aiming to develop their own NFT products. In any case, if you’ve decided to follow the NFT road, there’s no harm in allowing your product to reach the widest audience possible.