Heading into the first few weeks of 2023 and the market is gradually recovering to its usual pace. There is no better time to revive your NFT business than now. However, this is where many creators are stuck.
NFT marketing services are there to guide the brands through the competitive space. And this would be no use if you lack basic insights about the market, especially about the significance of marketing,
Can Your NFTs Survive Without Marketing?
Like any other product, NFTs also need marketing to drive awareness and audience. If you are not paying enough attention to the marketing activities, then it will become quite challenging for your business to survive.
Proper promotion is crucial to raise the value of your non-fungible tokens. In a sea of NFTs, buyers will have a hard time trying to pick which project to invest in. Marketing makes their work a whole lot easier by showcasing the unique utilities of your NFTs.
You also get to partner with other creators through marketing and create a community that can be converted into actual buyers. This is plausible because the primary objective of marketing is to create confidence.
How Does The Audience Assess The Value of an NFT?
Artworks of famous artists or celebrities automatically assume value. This gives a monumental task for new NFT projects to entice the audience base. Here are some ways NFT enthusiasts assess the value of an NFT project.
An NFT assumes value when it is rare. Limiting the supply of your tokens can create a great demand among buyers. This is why many successful projects have different tiers of non-fungible tokens. The top tier of NFTs will carry special features and are limited in supply. This gives them a great value over the others.
In addition to utility, the NFTs must also carry tangible utilities. The ‘tangible’ is key here because it should have both virtual and real-world use cases. An NFT with no utility cannot find buyers even with the most effective NFT marketing. One even better scenario is tying the utility of your NFT to address the pain points of the audience.
The recent slump in the market made everyone question the integrity of NFTs. Henceforth, many brands are pushing to create value in terms of tangibility. For instance, an NFT that denotes use cases in the form of real-world real estate properties is a more attractive investment option for investors.
The first thing many buyers do before investing in an NFT is checking the social profile of the creators. Social media acts as proof of authenticity and trustworthiness to the audience. Brands have an excellent platform to showcase solid selling numbers with social media. This will drive more audience toward the project.
How to Make Your NFTs Valuable To The Buyers?
Now we get to the most crucial part of this post – making your NFTs valuable to the NFT buyers and investors. This is an essential step in your overall marketing strategy. Since the market is made up of collectors, investors, developers, newcomers, and artists alike, it is essential to make a project appealing to the mass demographic.
Remember videotapes used to have extra content like the director’s commentary or deleted scenes that the viewers won’t get while streaming? The same can prove effective for NFTs – audiences need tangible utilities that are tied to the real world. Content like an artist’s signature or access pass can be embedded into your NFTs to make them more valuable to the masses.
It even gives exemplary material for brands to use in marketing. The mystery surrounding these unlockable utilities will generate considerable hype for your project. This can be even used to create OGs for your community. More and more buyers will rush to buy the OF role because only limited slots are available.
Even though the adding value is pivotal, giving it all at once can be disastrous. Because there is no element to bring the investors back to your project. Hence, make sure to offer the valuables over a period of time.
Proper timing also gives creators a marketing model to boost the loyalty of their community members.
It can be difficult for small NFT creators to create new resources for all their token holders. One way to overcome this is by making the original collection an access pass to the upgradable collection or upcoming drop. This is a surefire way to make your NFTs valuable to the potential audience.
NFT marketing is difficult – but this doesn’t make it any less important. Proper and effective marketing is crucial to overcome the dense market competition and drive more audience towards your project. And become successful by selling more NFTs.