If you’ve decided to enter the NFT space, but are now having doubts about the steps of the process, stay with us until the end. But, if you arrived here by chance, enjoy and learn more about this recent trend, which many are already getting into! A fact is that in the “new normal” those who want to run a successful business may not have much choice, if not to evolve. Web3 in many ways is already being deployed and NFTs are one step of the way!
Get to know more about this innovation!
Everything started with Web 1.0
For the 90’s, it was considered a giant technological advance! It was a static communication, without interactivity with the reader, with no option to include news on a website, for example. Who could have thought at that time of the expansion that the world wide web would achieve?
And now we got to Web 2.0
This evolution arrives in the 2000s, making use of collective intelligence, based on the development of an information network and now the user not only accesses content, but also contributes to it. Blogs, Orkut and Facebook are all born here. It is worth mentioning that web 2.0 has also brought many benefits in education. It’s the phase we are currently in, and as we well know, people are doing much more than just consuming content, they are creating content.
The transition to Web 3.0
It is the next phase of evolution on the internet and represents a paradigm shift, as it is built on the concepts of decentralization (greater control of users over their own data). That is, content creators will have and will be able to monetize their own content. Thus, they will stop using someone else’s platform to own their online presence and take full control of it. Companies and content creators can leverage the potential of NFTs to build a more loyal community than ever before. That’s because NFTs grant ownership to community members. With this, these people will be much more engaged in promoting this company or content creator.
If you are reaching for success, it is time to consider NFTs for your business
The first immediate benefit to your company or content is that NFTs prove authorship. When you drop a digital asset, whatever it is, as long as it has an associated NFT, it proves its authenticity. This makes your community much less likely to fall victim to scams or spoofs. Furthermore, NTFs are transparent and instantaneous. The smart contract encoded in the token cannot be edited or changed, that is to say the company receives the return whenever it is sold. NFTs can also be used for access. For example, if you sell access to an association, community or event, associating an NFT with the access point will provide your audience with a much smoother, automatic and instant experience. This usage also applies to content that you would normally sell digital tickets for online. Your audience is also protected from potential scalpers and dealers, and as the NFT proves authorship, you can rest assured that someone could access your membership or event with a forgery.
The best moment is right now: where to start?
This is the time when many companies and content creators are discovering that it is possible to use NFTs to broaden and improve their community engagement. Very important to say that the community is the key to success in an NFT drop. That’s because, NFTs are making a huge impact in the business world and with a gigantic level of investment on it, just like in the early days of Facebook. In order for you to ensure success in your NFT drop, it is paramount that there is synergy between the founder and their community. As a founder, you need to develop a roadmap that contains a list of well-defined ambitions in the different phases of your NFT project, as well as establishing the milestones to be achieved. Your community should be aware of what they will receive and what will happen when they hit certain milestones. It is at this point that harmony between founder and community becomes essential, because your community needs to be fully interested and involved in supporting your roadmap, within the established deadlines. Is the script in line with the relationship you have with your community? Then it’s time to follow the process to successfully plan your NFT drop.
Define the goals of your NFT drop
The first step in planning an NFT launch is deciding what results you want to achieve. Some companies are having as their main objective, for example, to prepare for the Metaverse. But it doesn’t matter if you are a business or a content creator, if you intend to use NFTs for fundraising or provide something of great utility and value to your audience. What really matters is that whatever results you are looking for, and if they are clearly defined, so that you and your community have a broad vision of where you will go with the project. This clarity will also help you develop strategies to encourage your community to keep your NFTs, such as providing periodic drops or granting access to minted NFTs in a future collection, for example. If the payoff for holding the NFTs is satisfying enough and if the community holding them is engaged and pushing their business forward, people will want their tokens for the chance to get some of those rewards in the future. As for the value of an NFT, it is determined by how many people want to buy the NFT project, as well as how many people are choosing to keep their tokens. And, of course, as demand increases, so does the value of the community and the NFT associated with it.
Decide what art atyle will be the cover of your NFT project
In this next step, it’s time to decide the type of artwork you are going to create for your project, the artwork that will represent your utility and your script. PHP profile pictures? 3D art? Designs? sounds? The most important thing is that the art you choose attracts the right people, the ones you want to join your community. Depending on the size of your collection, you may need the help of a designer, who can introduce variety into your images by creating layers of transparency, called strokes. You need to decide how many strokes you will have and what would make one design more or less rare than another. Once you define the artistic vision of your project, you need to find an artist to develop these different layers or strokes. As things start to happen and NFTs start to be minted, it is possible to define exactly how rare their traits are. It may be that in an entire collection, only 10 have a specific characteristic, or that each NFT is unique. The rarer an NFT, the higher the value. The strategy of how and when you release art for viewing can also be a big differentiator when it comes to ensuring the success of your NFT drop. Some projects release art immediately so their community can see some features that will be available once they can mint their tokens. However, other very successful projects did not release any exhibitions of their art until the minting process began; thus, buyers could see the artwork only after minting their NFT. There is no right or wrong here, just the question of the need to know and understand your audience, so that you can play according to their expectations.
Develop a realistic long-term roadmap for your NFT project
To launch a project within the NFT space, you need to have a roadmap that shows where you are going and gives your audience the reassurance that you are committed to the long-term success of your community and your project. Basically, a roadmap is what establishes the map of what people can expect to receive in the future for being part of the community. You can promise a drop at certain milestones, a whitelist token on the next release, or special access to a premium experience, for example. Make your audience feel not just like a subscriber, but a part owner of the community. In this way the level of involvement in the success of the community is much higher. Whenever you reach a new benchmark on your roadmap, celebrate it with the community, they will be excited to be a part of achieving these milestones and will want to continue to propagate this through their networks. Seeing the different phases of your roadmap come to fruition is exciting, not just for you as the creator of NFT, but also for the community that buys your project.
Assemble your team
Once you have your project goals well defined and have created a roadmap to get where you want to go, you need a team capable of executing your plans. It’s up to you to drive the strategic vision, after all, it’s your reputation at stake. So, as a founder, you need to communicate your project vision in a way that people are really excited about. Your leadership is crucial. Remember that you’ve defined what kind of art you want to use in your project, so you need an artist who can create it and bring your project to life. Perhaps there is someone in your community who is ready to take the opportunity to be part of your team. On the technical development side, you need people who understand smart contracts and coding and who can help you develop a website for your NFT project. Influencers with marketing experience will help promote your project. They will be the ones who will give the initial up in the development of your community. As your community grows, you’ll need a community manager, moderators, and so on to keep the community engaged.
Execute your plans
Last but not least, it’s time to run your roadmap at the launch of your NFT project. It’s no use launching an NFT project with the best intentions, if you don’t execute what you promised, remember that you depend on an engaged community and this will only happen if they trust you. Your NFT drop will be meaningless. You may even need to delay a release in order to deliver the promised value, but if you’re open and transparent, your enthusiasm will keep the community on your side, giving you all the support you need. It is certainly far better to change plans transparently and honestly than to stick to a release date, no matter what, without being able to deliver the promised value and without disclosing information to your community. This would surely break trust and sink your project. So better not to risk it.
Are you ready to guarantee the success of your NFT drop?
If this article was useful for you, make sure to share it with other people that might also find it interesting and useful! And since you are here, check these out:
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