If you’re an artist or have something valuable that you think could be minted as an NFT, nothing is stopping you from launching one. Now is a great time to release NFTs, but don’t assume that just releasing one of the computer-generated NFTs that are flooding the market right now is going to make you rich. People are slowly getting tired of these types of projects, and you may have to work harder to get yours noticed. Let’s take a look at some of the things you should know before releasing your NFT.
It’s All About Buzz
One of the things you should know about NFTs is that they’re all about buzz and hype. NFT drops don’t always get covered by major outlets and often spread through word of mouth. This is why social media remains the number one platform for anyone trying to release an NFT.
What works particularly well in that space is influencer marketing. If you have an NFT project that you feel could pique the curiosity of a particular niche, then you need to get in contact with influencers in that niche.
Having the right influencer talk about your NFT drop on YouTube or announcing them in their Instagram stories could do a lot to boost its popularity. The most important part is making sure that the influencer and NFT are a good match, that the influencer has a good reputation in the community, and that the price they charge is worth it.
Hire Outside Help
You should know that you don’t need to do all the leg work yourself when releasing an NFT. You could work with an NFT marketing agency that will take care of everything for you. They can reach out to influencers, craft a content marketing strategy, work on discord management and setup, and more.
Working with an agency will cost you money, but a reputable one will almost guarantee results if you have a good project. So we suggest that you start looking at marketing agencies before you start and talk to them about the prices and services they offer.
It Can Get Expensive
You should know that minting an NFT is not cheap and that you’ll have to pay several fees, sometimes in the hundreds of dollars, so be very careful. You will need to pay fees to mint, list, destroy, and auction NFTs. The marketplaces where you list your NFT will also ask for a fee.
There are some tricks that you can use to reduce those fees or pass them down to your buyers, but the network and marketplace you pick will make the most difference. You also have to be ready for crypto price fluctuations as you’ll need crypto to pay for these fees.
Choosing the Right Marketplace
Open Sea remains the most popular NFT marketplace and the option most people recommend, but you should still look at other platforms. You have platforms like Rarible that link to Open Sea and benefit from its search result that costs a lot less to list on. Mintable is another one you could look at.
These are all things you need to consider before thinking of minting an NFT. The better prepared you are, the better the chances that it will be a success, so take your time and learn as much as you can about the space before you get started.