Even though NFTs have been around for a couple of years now. They became a trend in 2020 till date. Both businesses and individuals have hopped on the moving train and have made a fortune off it.
This article focuses on helping beginners to find where to sell their NFT collections and the best way to market them.
What is an NFT
NFT is an acronym that stands for “non-fungible tokens.” Unlike cryptocurrency, NFTS are unique digital items that cannot be altered or exchanged. They signify ownership, and only legal owners have access to them. NFTs can be in the form of images, art, music, games, and more.
NFT Use Case
NFTs have gone beyond mere art. Many businesses have adopted these digital products in ways than you can imagine. Below are some examples of how you can use NFTs.
1. Identify verification
The surge in fake ID documents and identity theft continues to rise. Non-fungible tokens can help curb the situation. You can convert the documents into NFT that cannot be altered. Using NFT art as a form of identification makes it easier to access and confirm documents like driver’s licenses, birth certificates, membership cards, and more during a transaction.
2. Fund Raising
Some organizations or individuals use NFTs to raise funds for charity and other goodwill acts. You can create multiple NFTs through the Ethereum blockchain and auction them with the sole aim of donating the proceeds to an orphanage, a community, or an NGO in need of financial support.
3. A form of payment
Many countries across the globe recognize cryptocurrency and NFTs as legal forms of payment. As a result, some businesses in countries where NFTs are recognized allow customers to pay for their products and services with NFTs.
Where to sell NFT
If you have created an NFT art and looking to sell your product, there are several marketplaces where you can sell your product. OpenSea is arguably the most common and widely used NFT market. The marketplace supports different types of NFTs like photography, art, graphics, sports, games, sports, and more.
Below are some NFT marketplaces and what they support.
OpenSea is the oldest NFT marketplace since the creation of non-fungible tokens. It is a user-friendly platform ideal for beginners. OpenSea is an Ethereum-based marketplace that supports NFTs like virtual worlds, art, music, photography, trading cards, and more.
Trading on OpenSea costs 2.5% per transaction and a compulsory gas fee for every sale you complete with Ethereum.
Binance is a leading cryptocurrency exchange and NFT marketplace. The marketplace allows users to trade NFTs like collectibles, art, gaming items, music, and more.
The best part about trading NFT on Binance is that the platform charges you only 1% as a trading fee. Binance has a blockchain of its own, making the user experience better.
Rarible is an NFT marketplace that allows users to trade sports collectibles, art, photography, video games, and more using Tezos, Flow, and Ethereum.
Like OpenSea, Rarible also charges 2.5% per transaction and a gas fee. You can buy any NFT on Rarible with your local currency using a credit card.
4. NBA Top Shot
If you love basketball and create NFTs around it, NBA Top Shot is the best NFT market to sell your creations. You can capture remarkable moments of the game and sell them as NFT for a good price.
5. Nifty Gateway
Nifty Gateway is a marketplace for selling expensive and exclusive artwork from celebrities. It allows buyers to pay for your product with their credit card.
How To Market NFT
You may have a hard time marketing your NFT collection as a beginner, but it is not an impossible task. You simply have to follow the right approach. Wanting to make sales with little or no promotional effort is an unrealistic expectation. A working strategy will help you achieve your goals. Here are some NFT marketing strategies that can help you promote your collections.
1. Define Your Target Market
Your potential customers are the most significant part of every business. You should define your target market when creating your NFT collections. The goal is to make sales and not have window shoppers go through your collection without buying anything.
The type of NFT art you create can help you create a persona for your audience and how to approach them.
For instance, if you create sports NFT, your buyers will likely be sports enthusiasts and athletes. Once you have defined your target market, you can start marketing your NFT collections.
2. Build An Online Presence
After defining your target market, the next step is to build an online presence. You want to create awareness so your potential buyers will know you exist. Having an online presence is an effective way to grow your brand. You can use any social media platform of your choice for this purpose.
Social media marketing is a powerful marketing strategy that can help boost your online presence. With about 4.59 billion of the world’s population online today, there is no better place to host your community.
You don’t need millions of followers to sell your NFT on social media. You just need the right audience. Start by sharing your work with your existing audience and then work your way into attracting potential customers as followers. If you choose to build your online on Instagram, we have some tips that can help you grow your followers on Instagram.
3. List Your NFT on Popular Marketplaces
Building an online presence strong enough to generate sales as a beginner may take a while. Consider listing your collections on one or more NFT marketplaces depending on the type of NFT you create.
We have discussed the different marketplaces like OpenSea, Binance, Rarible, and more. And the types of NFTs they support.
4. Work With Other NFT Artists
NFT has been around for a few years now. There is an existing large number of creators that have been in the game for as long. Find creators in your niche or otherwise and collaborate with them to help promote your creations. Join their private discord and Telegram groups and promote your collection to their audience.
The idea is to leverage the platform or trust other creators have built to promote your collections. Ensure that you keep your contribution to the group respectful and compliant with their policy.
5. Use Content Marketing
Another way to promote your NFT project is to create engaging content like blogging, videos, newsletters, and more. Quality content helps to generate organic traffic to your website. The more organic traffic your page gets, the higher the ranking on Google and other search engines.
If you don’t have the resources to create long-form articles or high-quality videos, sharing relevant updates on your social media page is a good place to start. It should not be a one-time thing. Be consistent and creative with your content. As you progress, you can convert your website traffic into leads.
If you are interested in learning more about content marketing, read our article on 7 ways to increase sales with content marketing.
6. Paid Ads
Using paid ads is an alternative route since generating organic traffic could take a while. Search engines like Google and several social media platforms allow users to create paid ads and set budget limits. You can promote existing content or create new ones.
Create a short video telling your audience about your NFT project and how they can access it, or write content with explanatory pictures. However, Videos often outperform other forms of content, so using videos for your paid ads could be a better option.
7. Run Giveaways
People love incentives. One of the fastest ways to create a buzz for your NFT business is to run giveaways from time to time. But you shouldn’t just give out whatever you offer without a call to action. You can ask your audience to perform a task to qualify for your giveaway.
For instance, if you have free NFT airdrops, only people who follow you on social media and invite 10 new followers may be eligible to receive your airdrop.
NFTs are the next big thing in the world of crypto and blockchains. They have come to stay. As a beginner looking to sell NFT art, this article will help you get started.