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NFT Marketing has never been easier! We explore everything you need to know about this complex field of digital blockchain marketing.
The world of NFTs (Non-Fungible Tokens) has exploded over the past two years, amassing impressive statistics like a trading spike of 21000% in 2021 and a total traded value exceeding $17 billion. If you’re new to the world of NFTs and are looking to launch your collection, then you’ll have to spend a lot of time on NFT marketing.
In this article, we’ll be exploring the best methods, tactics, and proven strategies that can help you with your own NFT marketing. By pulling on case studies and our years of NFT marketing experience, this definitive guide will help you through the whole process.
Let’s get right into it.
What is NFT Marketing?
NFT Marketing is the practice of creating an avid following and community that wants to interact with, and ultimately buy, an NFT collection that a user launches. These NFT collections are digital artwork, which can span from everything from an AI-generated piece of artwork to an animated gif – anything that’s digital can become an NFT. Especially now, with the vast range of different tools that are available for users to turn to, creating and distributing NFTs has never been easier.
Over the past few years, there have been several different collections that have become popular in the world of NFTs, with a lot of that benign due to the NFT marketing that’s behind them. For example, the Bored Ape Yacht Club currently stands at around $2.9 billion USD in total value, even after dropping over 30% in recent months.
Part of their NFT marketing scheme was heavily relying on influencer marketing, turning to the world of incredibly high-profile celebrities. Celebrities like Madonna, Paris Hilton, Justin Bieber, and Eminem all supposedly have one of these Apes, each having shelled out hundreds of thousands of dollars for each of theirs.
While these celebrities have done little with their apes after purchasing, the simple fact that celebrities were buying them resulted in a huge influx of interest for this digital collection – with this being an example of prime NFT marketing.
What are the benefits of NFT Marketing?
As suggested above, NFT marketing is primarily a way to bring more attention to an NFT collection. Using an active and engaging NFT marketing strategy can generate new buyers for your project, inherently increasing the value of the collection by ensuring that there is more demand for this limited pool of assets.
With the vast majority of NFT collections, there are only a set number of NFTs available, with this level of scarcity creating value. However, as NFTs (apart from in GameFi) don’t have a purpose, this value is not inherent. Instead, users can only create value when they establish demand, meaning that NFT marketing is essential to actually give NFTs any purpose or value.
Three Core Benefits
With these in mind, we can carve out three main benefits of NFT marketing that an artist is likely to experience:
- Increased Demand – A core part of running an effective NFT marketing campaign is to ensure that more people are aware of the launch of your NFT collection. With this, if more people are aware, there will be a higher influx of buyers, creating a much higher demand for your purchases.
- Community Following – Much like the blockchain community in general, NFT artists can generate large followings for themselves, especially if their work becomes famous through some monumental sales. By creating an effective NFT marketing campaign, you’re able to increase your own exposure to the world as an artist, helping you to get on the map and create a following of devoted community supporters.
- Increased Asset Prices – Of course, with the above two benefits comes increased asset prices. As the demand for your limited collection increases, then the amount of money that each individual piece is worth will similarly increase. Over time, this boosts the amount of money that you can make from a collection, both through selling pieces and by holding some of the limited collection in your own name and watching it appreciate in value.
NFT marketing is both a financial and community-driven game, allowing you to boost the potential returns on your NFT collection creation while also creating a level of community support for your work. With any future work you then create, the community you’ve built through your first round of NFT marketing will ensure that you have a more stable social base to launch any more art into.
A social avenue is a website or type of site that you rely on when distributing information or news about your NFT collection launch. Within the world of NFT marketing, sites that win out in this category for digital marketing fall short here. While something like Facebook is great for digital marketing, you can’t say the same thing for NFT marketing, which is why you should always adhere to NFT-specific social avenues.
Within the world of NFT marketing, there are five areas that you should focus on:
- Press Releases
- Guest Posting
- Educational Posts
Let’s break these down further.
While NFTs all directly into the category of blockchain products, just like DeFi platform marketing, they have one core difference in that you should treat NFT launches like a grand event. While you launch a DeFi platform, which is then continuously used for years to come, and NFT collection is only launched once, with this singular launch day being of vital importance.
Due to this, you should treat your NFT launch as an active event that you market for. Just like within events marketing, this means you should focus on getting your name out there in as many press releases as possible. This should be a balance of press releases that discuss your upcoming launch and the launch itself.
Within the former, you should craft NFT press releases that state that you’ve decided on a day to release your collection. When you distribute these to several different crypto news outlets, this allows you to generate hype for your release. People will be curious about your release, as if you’re making it into crypto news outlets, then you’re likely someone to take note of in the community.
Guest Posting During NFT Marketing
Much like press releases, guest posting allows you to expand the potential reach that your campaign has by pulling in new community members from a range of different sites. By looking for guest post opportunities, you’re able to share interesting knowledge that you have around NFTs on distinct sites, while also generating more interest around your own campaign from mentioning it.
Just like how people will find out more about your launch by reading a press release, these guest posts allow you to reach a larger audience and expand your total reach. Considering how popular the world of crypto is, and just how quickly news comes in, it’s also fairly easy to find guest posting opportunities that you can take advantage of.
It only takes a few moments to type into google with search clauses like “Guest Post” + “NFT” or “Crypto” to generate a range of sites that are willing to accept new posts on their website. After reading through the specification of what they’re looking for, you’ll be able to quickly craft an article that goes down well with them and will be seen by their web audience.
While for those deeply ingrained in the world of blockchain, NFTs may now seem like a topic that’s been in the media for years, for those on the outside, NFTs are still a completely new technology. Due to this, one of the best ways to cultivate an audience with natural traffic on your own site is to start a blog where you share a range of educational posts.
What could start with something as simple as ‘What is an NFT’ can expand into a range of different blog posts where you explain specific parts of an NFT collection, how NFTs work, or delve deeper into the world of blockchain.
When a new users arrives on your site and sees a range of posts that aim to help the audience, they’ll automatically feel more confident that your site is trustworthy. With this, if you include detailed breakdowns of the digital art that you’re selling, you’ll be able to build up an audience that deeply respects the work you’re doing.
Over time, creating this repository of information can generate you new leads, while also cementing yourself as an asset to the NFT community. While this is a slow-burning NFT marketing lead, it is one of the most effective.
Where Should I Sell My NFTs?
One central concept that you need to have secured before moving into the NFT marketing phase of your launch is which platform you’re going to use to market and sell your NFT collections. In our modern age, a range of different options have sprung up, which will allow you to mint and then sell your NFTs.
Just remember, due to the fact that you’re minting a digital asset, you’ll most likely be doing this on the Ethereum network. As ETH has notoriously few transactions per second, you’ll have to pay a gas fee to push your work through. Just remember this as you could have to pay a significant sum of money to even get your NFTs on the marketplace, so be sure to save some of your budget for that.
With that in mind, there are a range of different NFT marketplaces that you could turn to:
- OpenSea – By far the most popular NFT marketplace, OpenSea allows you to sell almost any digital asset, ranging from art to music and even domain names.
- MarkersPlace – This is a more generalist site, accepting all levels of art and types. Within this site, you can set up your storefront and sell your NFTs.
- SuperRare – Focusing directly on visual artwork, this site allows you to mint and sell your digital artwork online.
But that’s not all of them, here is a list of the top 10 most used NFT marketplaces where you can focus your sales.
What Are the Best NFT Marketing Tactics?
When it comes to creating and sustaining an effective NFT marketing campaign, there are a few general tips that you can use to stay ahead of the competition and deliver phenomenal campaigns every single time. While NFT marketing is different to that of traditional marketing, many of the best tactics are slight variations of these core tactics.
By actively engaging with these tactics, but altering them to directly communicate with the blockchain community, you’re able to launch effective NFT collections that people have a genuine interest in and passion for. With this comes higher demand and higher prices, helping to boost the overall success of your launch.
There are four core NFT marketing tactics that you should adhere to:
- Email Marketing to Your Community
- NFT Airdrops
- Influencer marketing
- Affiliate campaigns
Let’s break these down further.
Email Marketing to Your Community
In the world of traditional digital marketing, a huge range of marketing managers use email marketing as one of their primary marketing strategies. In fact, 87% of marketing managers regularly use this strategy, demonstrating the huge portion of this field that rely on this tactic. Email marketing is equally as useful in the world of NFT marketing, as it provides an easy way of interacting with and updating your community on upcoming launches and events.
By creating an email newsletter, you’re able to regularly write to people in your community, updating them on what’s currently going on behind the scenes. Here are just a few ideas of what you could include in these newsletters:
- Updates – Whenever you finish a new set of NFTs or make progress on the design of your current batch, you’re able to bring this information together and launch it in your weekly newsletter.
- Questions – If you contain a segment on your site that allows users to formulate and submit questions, then you can use your weekly newsletter to answer some of these questions, keeping people in the loop while educating them.
- Information – If you have a specific date that you’re going to be launching your NFT collection, then a great part of email NFT marketing is to make sure people know about this date and exactly where they can go to find these NFTs the moment they’re launched.
While email is a foundational technology that many overlook, it can actually be a vital part of effective NFT marketing.
In the traditional sense of the world, airdrops within the blockchain community typically refer to cryptocurrency allocations, with a campaign rewarding users that retweet or engage with their product launch in return for free crypto.
While these are similar fundamentals to NFT airdrops, they are not identical. Instead, NFT airdrops will focus on giving people small discounts on your NFT collection if they retweet, engage with, and amplify the reach of your social media campaigns.
Considering that a simple retweet exposes your campaign to a whole new audience (that person’s followers), embedding a retweet clause into the conditions of your NFT airdrop is one of the best ways of rapidly increasing its scope.
With this tactic, you’re able to get more eyes on your launch, increasing social awareness while also increasing the amount of interest that people have with your launch day. This all creates hype, helping you to reach an explosive start when you hit publish on your NFT collection.
There’s a reason that modern brands are all turning towards influencer marketing to launch their newest products. This is no different in the world of blockchain and NFT marketing, with influencers being a primary source of exposure that you can easily turn to. As we referenced earlier with Bored Ape Club, celebrity influencer marketing was one of the most effective strategies they used to find their success.
By looking through public figures within the world of cryptocurrency, NFTs, and general blockchain, you’re able to find people that have a great following. From there, you can work toward getting your name out there. Influencers are one of the fastest ways to get your name out there because you are paying to directly access their audience.
As they give you a vote of confidence, while also demonstrating an interest in your project, it inspires other people to get involved and take a look at your NFT product launch.
We’ve written a full guide to crypto influencer marketing that you can check out.
Another way of getting more people to take notice of your NFT marketing campaign when you’re in the early stages of its launch is combining influencer marketing with affiliate campaigns. Currently, over 81% of brands have some form of affiliate program that’s active, demonstrating the huge advantage that this gives to companies.
Affiliate programs are where you reward influencers with a percentage of the sale or a fixed fee for every single person they bring to your company. For example, if you gave an influencer a unique code that their followers could use to get a discount in your store, whenever a sale happens with that code applied, they would get a return, and you would get a sale.
This is a win-win situation, which is why it’s such a popular marketing tactic. Especially considering that much of the hype and interest (and therefore value) within NFTs relies on social interaction, this is further effective within NFT marketing.
Why Should I Work with an NFT Marketing agency?
While many people have launched successful NFT marketing campaigns by themselves, this is a much harder feat to pull off, often requiring in-depth knowledge of the field, a wide social influence, and a complete NFT roadmap. While some people can pull this off, unless you’re already starting with a large sphere of social influence, it can be hard to have your NFT collections make a splash in this market.
One of the best ways of circumventing this non-start problem is to work with an NFT marketing agency. NFT marketing agencies are formed by people with years of experience in the world of blockchain marketing. With their expertise, you can actively engage with their social channels, making use of their connections within the industry to give you a leg up in this field.
What’s more, as NFT marketing agencies have had previous experience in launching NFT collections, you’re able to pull upon their knowledge and successfully launch your campaign. Instead of having to focus hours of your day on NFT marketing, you can entirely center yourself on the creation of these NFTs.
From there, your NFT marketing agency will take the lead, ensuring that you actively engage with the community, utilize the right marketing channels, and work towards making your campaign a complete hit. Across building an audience and ensuring buyers flood to your projects, using an NFT marketing team is one of the most effective ways of getting your products out there.
As a field that is still emerging, NFT marketing is deeply complicated. Unlike traditional forms of digital marketing, which have a set pathway for brands to follow, NFT marketing is newer, and, therefore more spontaneous. The best practices for NFT marketing are still changing and developing, meaning it takes a regular person a huge time investment to get up to speed.
If you’d prefer to simply work on your digital art and leave the NFT marketing to someone else, then we advise you to partner with a blockchain PR agency. At GuerrillaBuzz, we’ve had years of experience within the world of blockchain, helping create successful campaigns in everything from NFT launches to ICOs. If you’re looking for expert help from a team with a proven track record of success, then you can’t go wrong with GuerrillaBuzz.
Get in contact today to see exactly what we can do for you!