How to Promote & Market Your Own NFT

How to promote your NFT successfully

NFTs had their first big hype in 2021 and it seems like their growth can not be stopped. You might have heard how easy some people seem to make money with it. You could have also heard how people lost their money with it. Either way, NFTs are definitely here to stay and much more than a quick cash grab. If you are playing with the idea of launching and promoting your own NFT collection, you’ve come to the right place.

What is a NFT?

The word NFT is short for „Non Fungible Token“. First of all we need to clarify the term „token“. A cryptocurrency that is operating on an existing blockchain is called a „token“. A cryptocurrency that has its own Blockchain is a „coin“. Therefore, Bitcoin is a coin for example, as its Blockchain is running on its own. Then there are cryptocurrencies like Loopring for example, which operate on the Ethereum Blockchain, therefore they are tokens. If you have traded NFTs before, you would know how you pay a specific cryptocurrency for it, most likely ETH or SOL. That is because these NFTs are simply Tokens on the Ethereum or Solana Blockchain (Or other platforms), but there is a key difference between the types of tokens and regular ones.

That is where the term „Non fungible“ comes in. A token can be both fungible (exchangeable) and non-fungible (non-exchangeable). Basically, “non-exchangeable” in this regard simply means that it is a unique digital asset that cannot be exchanged one-for-one for another. Maybe you have heard of the mis-stamping/printing of coins or banknotes before. Basically, they are still normal FIAT currencies. However, due to their uniqueness thanks to their factory flaw, they are much rarer and valuable. A collector will not value a normal $100 bill the same way as a $100 bill with factory flaws, most of the time they are truly unique. The normal bill is therefore „fungible“ as it can be replaced 1:1 by another $100 bill, the misprinted one can not. To be honest, it is kind of wrong to compare FIAT currencies to cryptocurrencies, but hopefully you understood the comparison more easily that way.

A more correct comparison would be Bitcoin: 1 Bitcoin will always equal 1 Bitcoin. There are not rarer or one of a kind Bitcoins that are more valuable. NFTs are unique assets that have been brought onto the blockchain, mostly drawings, digital art, music or video clips.

Ways to promote your NFT (collection)

If you’ve decided to launch your own NFT collection, one of the most important parts is by far the promotion. Only that way your project will generate hype and therefore, value. Everyone can put out their NFT and mint it on a popular marketplace like Opensea, but in the end the success will be determined by the community factor/growth. First of all, there are ways to promote your NFTs either with money or for free. If you are not an influencer or somebody who is a well known artist in the industry, you probably have to invest some money in your NFT brand.

It is actually very hard to tell how you should promote your NFTs exactly, it is simply not like marketing most products or services. It is very hard to know if you are targeting the right people. Also, there is the risk of people seeing your NFTs as a scam or they are simply annoyed by it. Sadly that is normal, as NFTs get more and more popular, people are either 1) getting annoyed by it because they have no interest in the subject or 2) they think it’s a scam because they have heard that somewhere else. These factors should not discourage you from launching your own NFT, as it can still be very lucrative. Here are some of the best ways to do a NFT promotion:

• Groups for promotions (Giveaways): There are specialized groups for promoting NFTs, in Discord or Telegram for example. If you search online for such promotion groups, you will find some options. These are also great to network.
• Social media (promotion): The good old social media promotion/post is also an option, Instagram and Twitter will be the best platforms for this. Here, it would be wise to hire someone who has expertise in this field, as you can burn a lot of money on social media by targeting the wrong people.
• Twitter Spaces with other founders: If you are a Twitter user, you might have been into a space before. People meet there in visual spaces to hang out and talk about all sorts of stuff. If you are into a NFT space, you can pitch your project there. This is also a great way to network and meet the right people.
• Influencer Giveaways/Collaborations: Influencers can be your ticket to success, however it is important to know what their audience likes. It is simply not worth it to pay an influencer a certain amount of money, if his followers or him/herself are simply into other things. Even if the person has millions of followers, chances are your money is better spent on niche NFT influencers that have under 100k followers for example. Anyway, influencers are one of the best ways to do promotions. You might even not have to pay them anything in exchange, if you can help them out with your knowledge on NFTs for example.
• Become active in the community/collect NFTs: If you are genuinely passionate about NFTs, you will grow an audience by you simply interacting with the space. You will buy other peoples NFTs, share it on your story so they can repost, engage with their posts etc. As you expand your network, your account will reach more people, therefore making promotions easier and cheaper.

These are some of the most well known ways to do your promotion, but there are many other possibilities. As your time as an NFT creator/promoter progresses, you will get more successful at it.

Is creating/promoting NFTs (still) worth it?

Maybe you are asking yourself if it is even worth it anymore to do a promotion. First of all, you should consider the gas fees you have to pay for mining your NFTs, especially on Ethereum. Also, are you a talented artist or do you have to hire a designer upfront? Things like these need to be calculated and considered before you launch your project. You can discuss your costs vs. money you would like to earn with other people in the space to get a better idea if it is realistic.

In the end, this question is hard to answer. Your project can cost you a lot of money or can bring you life changing money. However, your first few attempts will probably not bring in the success you want to see, but don’t get discouraged by it!