How Marketing for NFT Projects Works – The Full Guide

By Stan Peterson
Published September 29, 2021 Updated October 1, 2021
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How Marketing for NFT Projects Works – The Full Guide

By Stan Peterson
Published September 29, 2021 Updated October 1, 2021

The world of non-fungible tokens (NFTs) is exploding, and we’re seeing more and more people launch their own NFT collections. But, there’s a fine line between raking in 6 figure sums for your NFTs and making $100. The key to crossing the line and achieving NFT success? A solid marketing strategy.

Without a bit of love, care, and hype, your NFTs won’t reach the right audience and therefore won’t reach their full potential. So, today we’re going to run you through how you can take your NFT marketing project to the next level and hit those 6 figure paydays!

NFTs are Growing in Popularity

If you think that NFTs are a new feature in the crypto world, then you might be shocked to discover that they’ve actually been around since 2012 with the introduction of Colored Coins as an additional layer on the Bitcoin blockchain. Then came Larva Labs with CryptoPunks in 2017 and took the market by storm. 

But, at the time, NFTs didn’t have a marketplace and the crypto world was focused on ICOs. As the crypto winter of 2018 and 2019 dragged on, people looked for the next hot cake. This came in the shape of NFTs in 2020. In September 2020, NFT advertising hype started to take hold of the crypto world, and as OpenSea went into full swing, NFT promotion mania exploded

Today, we see the space getting populated with more and more incredible NFT deviations like 8biticon – an avatar maker that increases the price of your NFT as the demand for it grows. And there is no doubt that there is still so much more to come. 

Image by 8biticon.com

Why is Marketing So Important for NFT Success?

If you promote NFT properly, you can go from average Joe to super stardom overnight, all it needs is a solid marketing plan. If you can drum up some hype and make the right people aware of your NFT collection, then you can make it to the big leagues.

Due to the fact that there are so many people making their own NFTs and reselling ones they just bought, the market is oversaturated. You need to cut through the noise more than ever if you’re going to make it big. With a CPM or CPC campaign and advanced targeting tools available on crypto ad networks, you can get your NFT collection in front of the perfect audience.

This means that you’ve got more eyeballs on your NFT collection and these eyeballs are the ones that are going to want to drop their cash on your collection. Pick your platform, set your audience, and prepare to cut through the noise and make it to the big leagues!

Crypto & NFT advertising platform – Bitmedia

Talking about the current oversupply of NFTs in the marketplace, Tanya Petrusenko, Head of Business Development at Bitmedia, said:

“There are currently more than 5,000 new NFTs getting listed on OpenSea every day, which is creating a massive oversupply. Potential buyers have so much choice, they’re often put off and this doesn’t lead to any purchase action taking place”.

Tanya continues: “When an NFT collection has run an effective marketing campaign, potential buyers search directly for the specific NFTs that they’re aware of and are more likely to make a purchase. This highlights the need for effective marketing campaigns with NFT collections.

Why Should You Start Promoting Your NFT?

You might be wondering why you need to spend money to make money with your NFT collection, and that’s normal. The NFT world is oversaturated and there are hundreds of thousands of new listings up for sale every day. If you’re going to cut through this noise and attract the right bidders, then you’re going to need to run an NFT promotion as soon as possible.

If you advertise an NFT project, you’re getting it in front of prospective buyers and creating brand recognition. Once people see how cool your NFT collection is, they’ll want a slice of the action. But don’t leave it to chance on the marketplace. Get your NFT collection out there with a targeted advertising campaign, form and maintain an active community and hype won’t be needed.

The Most Effective Ways to Promote Your NFT Collection

Now you know that you need to promote your NFT collection, it’s time to see which is the best way to promote it. You’ve got a few options here, but some are slightly more advantageous than others.

If you’re going to run a display ad campaign, the experts at Bitmedia can do wonders when it comes to the right outreach. With a powerful platform packed full of advanced features, you can tailor your ad campaign to your specific needs. In fact, dozens of NFT collections work closely with Bitmedia to promote their work, meaning that Bitmedia has the skills and experience to get your project the value it deserves.

Our clients prefer to be specific with the campaign targeting when setting up display ads for their NFTs. Some opt for a specific region, others tend to use frequency capping and ad reruns, to target those who are already acquainted with the brand’ 

outlined Matvey Diadkov, the CEO at Bitmedia. 

For example, 8biticon is currently working with Bitmedia. As mentioned earlier, 8biticon is an NFT artwork creation platform that allows you to combine a range of accessories to create your own 8-bit avatars. You can then mint them and earn money for every NFT that’s minted after it. How does this work? Well, the more an accessory is used, the more it costs the next user to use it. The extra fees collected are then distributed back to all the users that have used that accessory. Great idea, but it would have gone unnoticed if not for the marketing that the platform continues to this day.

 Other NFT collections look at promoting themselves on various social media channels. Reddit NFT, Discord and Telegram are great places to get started and are homes to vast crypto audiences of all ages and skills. Clubhouse is another good option with specific NFT clubs that you can join and promote in.

Start out by identifying your target audience and work from there. This will lead you to the best social media platforms for your collection. For example, if your collection is aimed at upper middle class males, then LinkedIn is a great place to promote your NFT collection. On the other hand, if you’re after a younger audience with an evenly split gender profile, Instagram is a great place to start out.

Perfect Your NFT Marketing Campaign Today! 

The NFT space is overcrowded and it’s tough to cut through the noise. A lot of hard work goes into getting the top NFTs the fame and hype they have, so make sure your advertising partner has the experience to get you there and remember that a good marketing campaign is always omnichannel, and must include all the tools available on the market. Good luck and may your NFT collection achieve your dreams!

 

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Stan Peterson
416 Articles
Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.

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