Why is NFT Marketing Important?

Introduction

Today, anyone can create their own NFT, just an idea and imagination are enough. However, not everyone manages to properly present their product on the market and get the desired profit during the implementation. In order to avoid serious losses, there is a collection of different promotion strategies called NFT marketing. Why is NFT marketing simple and affordable, and most importantly — effective?

Understanding NFT and NFT Marketing

Blockchain as a technology changes and improves any area with which it is somehow connected. Digitalization of business is another case of the successful manifestation of blockchain qualities. NFT marketing fits perfectly into the concept of digitalization and the modern market, where big brands introduce NFT into their business and thus show the world that this is the real future. And yet, why is the competent promotion of your NFT project so important and what will you get out of it? But first, let’s understand the definitions.

What are NFTs?

NFT (non-fungible tokens) are tokens, each of which is unique and therefore not fungible. The definition of NFT is opposite to the definition of cryptocurrency, which can be exchanged for another coin. NFT can be represented as photo, video, or audio, that is, any object that is converted into a digital asset.

What is NFT Marketing?

NFT marketing is a set of different strategies to promote your digital asset for its successful sale. To achieve good results, you should do it through blockchain channels, NFT marketplaces, or through social media, which are a big part of the crypto community.

How can companies use NFTs?

Regardless of the type of activity of the company, NFTs can be a great solution to attract a new audience or to show repeated interest from the existing community.

Today there are many effective ways to use NFTs for business growth. Let’s consider the most common ones.

1. Tickets in the form of NFT

This way of engagement will, first of all, secure you and your customers from fake tickets, digital assets on the blockchain cannot be fabricated in any way.

This way will also support a secondary market where customers can buy tickets from other people without the risk of falling for scammers.

It means that visitors will buy tickets in advance to resell in the future, thereby increasing the organizers’ revenue.

2. Loyalty program for NFT owners

Launching NFT in this way will attract the attention of both new and existing customers. You can set any rules for the loyalty program, but they must be worth it for the customer to purchase your NFT.

Unlike a traditional loyalty program, where customer data remains the property of the company the purchase of NFT attracts your community precisely because of the ownership available to them.

3. NFT for charity

NFT for charity is a proven way to attract customers’ attention to a certain problem. Of course, there is a part of people who are constantly engaged in charity but to organize large-scale collections, it is worthwhile to interest the community. Therefore, launching an NFT collection is a great way to attract attention and create a potential blockchain community.

4. Changes in product liquidity

NFTs are ideal for tokenizing your goods and services. Because of the ease of transaction execution and ownership transfer, NFTs can quickly change the liquidity of your product.

NFTs are the same as cryptocurrencies, but they are non-fungible. NFTs are simple enough that you can use them to quickly tokenize your digital or physical assets.

Recently, diversified corporations have actively begun to implement new ideas for brand promotion with the help of NFTs. For example, Coca-Cola 2021 created an NFT collection called “Friendship Box”, which had an NFT in the form of a soda machine. By opening this machine, NFT owners received exclusive merchandise for the game Decentraland.

Adidas became one of the giant companies that acquired land in the Sandbox metaverse. Adidas made a drop of physical and digital goods in the form of NFT in the Sandbox metaverse. Owners of NFTs from Adidas got access to virtual wearables on the Sandbox platform.

eBay became another giant that made NFT part of its business strategy. On eBay, you can now buy or put up for sale your own NFTs. In addition, the company is going to launch its NFT collection, which will also attract the attention of the community.

In general, the three companies listed above do not need to advertise, as they are world-famous brands. However, their introduction of NFT into their own business once again reminds customers that the world is changing and it is important to adapt to the new era of technology in time and successfully.

Some Of The Best NFT Marketing Strategies

Once you have decided to make NFT part of your business, you should take care to make the right statement about yourself and make sure that your target audience finds you. Here are some proven strategies for NFT marketing:

1. Influencer marketing

When users choose an influencer that reaches their target audience, they can get maximum results. It is because influencers strongly influence the community’s choice. A great example of this is the case of the NBA, which created the Top Shot marketplace, which collaborated with various influencers and received several transactions per minute.

2. Discord and Telegram marketing

NFT business development with the help of Discord and Telegram is one of the most effective free ways. On these resources, customers can quickly find the information they need and are interested in, and you, accordingly, will quickly find your customers. These social networks allow you to communicate with your audience in real-time and communicate all the important information.

3. Creating a community

It is important for any community to feel special and have a constant connection with the brand. That is why, for the successful promotion of your NFT project, you should take care of establishing quality contact by creating a community. The ideal platform for this is Twitter, where crypto enthusiasts spend a lot of time.

4. E-mail marketing

Some people may think that email marketing is dead for a long time and does not bring the desired conversion. However, statistics show that 17% of emails are opened by email users. This means that among your audience there is a percentage of people who regularly check their mailbox and email communication is extremely important for them.

5. Paid advertising

Well-tuned paid advertising will help you reach your target audience in the shortest possible time. Today, advertising tools have become so accessible that anyone who wants to develop their business can set up targeted advertising.

6. Host AMA Sessions on your NFTs

Holding regular AMA sessions will help you to promote your NFTs, because it is a good way to engage the community. After all, the essence of the AMA session is that the community prepares interesting questions for your company the day before. After that, the best questions are selected and their authors receive bonuses. This perfectly motivates the community to be in the constant information space of your company and be interested in your product.

7. NFT Listing in the Right Marketplaces

Placement plays a very important role in the success of NFT collection sales. But it is important to understand the meaning of the phrase “right markets”. Today there are a large number of marketplaces, but the mere presence of a marketplace is not a magic pill for sales. You should choose a market with a potentially interested community. For example, OctoGamex NFT trading platform unites the interests of gamers and entire gaming guilds. In addition, OctoGamex is a multi-chain NFT trading platform, which reaches a larger audience.

8. SEO Implementing

Properly configured search engine optimization will help you to occupy the highest positions in search engines. This way you will get free traffic that can later convert into potential buyers of your NFT collection. Search engine optimization will help you get traffic both on-page and off-page.

9. Launch an NFT Giveaway

NFT giveaways are another effective way to generate interest from your audience. Usually, participation in NFT giveaways requires simple conditions, and the gift is a certain number of fungible or non-fungible tokens. This method will cause loyalty and trust of the community, as it does not require any investment, but only the fulfillment of simple conditions, such as: subscription to a social network, marking friends and reposting.

10. Press Releases

One of the oldest marketing strategies has proven itself in practice. It consists in posting press releases of your products on various media and web platforms to engage the community more. This way you not only attract new people, you also build trust and credibility with your community.

Why Do You Need Digital Marketing for Your NFT Business?

Implementing and following the NFT marketing strategies is important because the value of NFT is formed due to its popularity and the size of the community. With a high probability, a well-designed NFT project can attract the attention of the audience with properly thought-out marketing strategies — to get the desired conversion.

In addition, the practice of digital marketing for your NFT ensures the legality of your activities. Because, the most effective strategies are implemented with the help of well-known resources that will inspire the trust of your community.

Summary

The practice of successful launches of NFT projects shows that any idea has a chance for profitable implementation. NFT marketing gives you the base with which your NFT project will see the light of day, and the right approach and choice of strategies that are specific to your business will help you quickly adapt to the changing market.

About OctoGamex

OctoGamex is a multichain NFT Management Platform, enabling Web3 Infrastructure for In-Game & Metaverse Assets. OctoGamex is a competent and universal entry point into the world of GameFi, DeFi, and blockchain in general. After all, every day the Octo team develops innovative solutions to make the complex world of blockchain your comfort zone!

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