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NFT launch: The non-fungible token market is absolutely saturated. So, you need a good strategy to beat the competition, says Maksym Petruk, CEO and founder of WeSoftYou.
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How can you make your NFT collection successful when the market is against you?
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People often launch NFTs without building a brand around them. Their creators are baffled as to why there is no market for their works. The reason is simple: there’s nothing behind these NFTs.
So when you have an idea for a project, you must first determine its value.
Thriving NFT collection owners can instantly answer these questions. They have a convincing story that makes their project special.
There is no set formula for creating a team for an NFT project. The most significant factor here is not the number of people but the clear distribution of responsibilities. Your team should certainly include the following specialists:
When choosing a creator for your collection, ensure that this person embodies your ideas more vividly than they seem in your imagination. Also, consider whether the creator’s style corresponds to your project’s overall vision.
Here, you need to consider not only whether the specialists had previous experience with similar cases but also whether they have a sincere interest in your project.
Such a specialist will work on your business development strategy, manage the promotion of your NFT collection, and help create a community around it.
Building a strong NFT community and hype around your collection is a task for your marketing department. It may include PR specialists, SMM managers, content writers, and other professionals.
This person will solve organizational issues and monitor the timely implementation of tasks set for different departments.
Each team member must know their area of responsibility: art creation, market analysis, working with the community, and so on. You don’t need to overextend a team when everyone understands their duties.
Why are NFT collections community-driven? Purchasing an art object gives you exclusive access to a circle of people. Also, the more noise and excitement there is around your collection, the more value it will gain. So before launching your NFTs, make sure to engage your audience in advance.
Here are some tips for building your NFT community:
And one more thing. Remember that the path of each project is unique. Therefore, the recipe for your collection’s success is a matter of understanding your project’s value and your audience’s interests.
When your NFT collection is ready, you should address two main questions: the blockchain your NFTs will be based on and where you will sell them.
The marketplace choice will directly depend on the selection of blockchain. For example, if your digital assets are based on Ethereum technology, you will not be able to sell them on the Binance NFT market because each blockchain uses different token standards.
Popular blockchains for launching the NFT collection are:
Here are some great marketplaces:
After selecting the blockchain and marketplace, you will need to set up smart contracts. And don’t forget to create your project’s website.
NFT projects will be an integral part of the global web3 concept in the coming times. It’s because of people’s increased desire to acquire unique ownership rights on virtual assets.
At first glance, given the incredible number of NFT projects on the market, it may seem that this industry is already well developed. Yet, in reality, we are just at the beginning of its growth. Because of this, NFT collection authors have the chance to stand at the dawn of the brand-new web age.
Maksym Petruk is a Multi-Awarded Tech Entrepreneur, CEO and founder of WeSoftYou, an international Product Development Vendor that serves clients around the world. Also Maksym is a CEO & Founder at CryptoCossacks Club.
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