NFTs have had a huge impact in our current pop culture. Artists like Paris Hilton, Reese Witherspoon and Steve Aoki are proud NFT holders. There are thousands and thousands of NFT collections out there. Some of them can be owned for free while others can cost up to millions of dollars. Some don’t work out as well as planned while others surpass all their objectives.
What is the secret? What distinguishes one from the other? And how can I make sure that my NFT collection resonates well with the public? Well, here are 3 key points that will make your NFT stand out.
1. Take care of your community, and your NFT collection will follow
In this new era of the internet, users are the ones that have the power. We vote to move projects forward or redirect resources into others. Within Web 3.0, communities should be aware of the purpose of the collection, the roadmap and what they can do to help you achieve future goals. At the end of the day, your community is what will ultimately determine the success of your NFT project.
In the decentralised world of Web3, communities are crucial to determine the success of an NFT project. The larger the community, the more conversation that will be generated; increasing word-of-mouth and campaign awareness. Decentralised projects succeed or fail based on the strength of their communities. For example, the remarkable resilience of assets like Bitcoin and Ethereum comes from the vast global base of support from their respective communities, who are tireless in their dedication to keeping the network secure and operational – even if they do not always agree on exactly how that should be achieved.
However, creating a strong community is easier said than done. So here are a few steps to get you on the right track:
-Find where quality investors spend their time, and make an investment in their channels.
-Connect with NFT buyers and crypto enthusiasts
-Buy and support original, 1/1 NFT art.
-Join Twitter spaces to share your idea
-While Discord is one of the more popular platforms for those interested in crypto and NFTs, Twitter, TikTok, and Telegram can also be worth your while.
Before dropping your NFT collection, make sure to bear this in mind:
-Don’t wait until the week before launch to hype up your launch – it’s critical to start sharing your NFT collection as soon as you can.
-Create a social media campaign
-Share the long-term vision
-Publish teasers of the art
-Run whitelist competitions
-Create games that encourage participation
-Unless you’re launching a stealth NFT collection where you intentionally aren’t marketing it, dropping a new NFT collection should never be a surprise.
2. Create and communicate the most exciting NFT Roadmap
While a beautiful NFT launch is something to look forward to, it’s only the first step to creating a project that withstands the volatile nature of NFT markets and people simply flipping NFTs to make money.
When done right, most of your revenue will come from NFT royalty payments from secondary sales, making it crucial to continue adding value to your collection after mint. Let your community know what the purpose of this NFT collection is, what you are trying to achieve with it and what steps you, (as a community) will take to make it a reality.
While there are pros and cons of creating a DAO (check out our Web 3.0 glossary) , NFT collections can consider creating a DAO where holders can participate, promote, and push the NFT project’s direction forward.
Moreover, giving purpose to the collection adds more value to the people investing in your NFT, and with that it can take their enthusiasm even further.
Examples of NFTs that Increase Value with Strong Roadmaps
Crypto Barista’s Season 1 launched with 60 caffeine-loving characters whose ownership helps conceptualize and open the World’s First NFT funded Café. Next drops have as goals to focus on sustainability, social responsibility, environmental concerns, and implementing alternative revenue streams.
The café was projected to open in June of 2022, where they focused on POAP events for the holders and additional events tied to NFT.NYC
According to research published in Nov. 2021, female artists accounted for just 5% of all NFT art sales in the prior 21 months. WoW is on a mission to change this. These are NFT collections that advocate to increase diversity in Web 3.0, educate and onboard the next generation of creators and builders, and create equal opportunities for everyone.
Since World of Women was born, they have focused on actions that reflect their values:
-Bridge the gap between the digital and physical worlds.
-Bring more diversity and inclusion into the NFT space and support emerging artists.
-Grow the community and build value for WoW NFT holders.
3. Communicate Effectively and Often
We can’t stress enough how important this is. It sounds really simple but regular communication from your core team of contributors can quite literally make or break your project.
With so many “rug pulls,” keeping your community up-to-date with popular crypto communication tools like Discord and Telegram is important. The worst thing you can do to derail momentum is go radio silent after launch.
Let them know that your team is working behind the scenes, when the next drops are or just check in with your community.
Here are some tips to improve the communication for your NFT collectors:
-Commit to a regular communication schedule and do your best to stick to it.
-Invest in hiring someone on your team to support your community.
-Create educational resources to help your holders know what is going on.
-Have moderators online to answer questions.
-Regularly post in the #announcements channel and tag @everyone.
-Stay ahead of urgent communications (e.g. roadmap setbacks, hacks, etc.)
-Posting updates multiple times per week, troubleshooting holder support requests, and being online to engage your holders sends strong signals your project is not a scam and your team is focused on positive sum value accrual.
Who is doing it right?
Parallel: A Successful NFT Project that Communicates with Holders
The sci-fi card game Parallel does an excellent job setting a good example by holding weekly community calls where anyone can attend and ask questions. It’s one of the many reasons they have been able to build such a loyal fan base quickly.