In April 2022, IntoTheBlock published a report which said that in April 2021, there were about 15.5K NFT collections on the Ethereum network. After a year there were about 80K NFT collections on the same chain.
On the other hand, the Solana network has been creating history in the NFT space, despite the cold winter. According to CryptoSlam, in May 2022, Solana surpassed the total daily NFT sales of Ethereum. In June 2022, the network surpassed $2 billion in lifetime sales.
These statistics highlight two important aspects. First, the rate at which new NFT collections are emerging has been higher than ever before. Second, people are interested in these digital assets, despite the overall decline in sales in the field.
This means, that there’s more noise in the market and for your NFT collection to sell out, you need to ensure that it stands out from the other collections, in every aspect. So, how to sell out an NFT collection?
Here’s a complete guide with the top 5 tips and strategies, that can help you sell out your next NFT collection. Let’s jump in.
Top 5 Tips to Sell Out Your NFT Collection
For your NFT collection to be perceived as an asset worth having, you’ll need to hit the right mark in different stages of your project development. This begins right from conceptualizing the NFT, to marketing it and launching it. Below are the five most significant tips you can follow to get an edge over your competitors.
1. Enhance Your NFTs with a Quirky Style that Captivates the Audience
While there are numerous types of NFTs, the PFP NFTs tend to garner the most attention due to their captivating visuals. It shows, how the NFT art style needs to be quirky yet unique for people to notice them and take an interest in them.
A simple example of this could be the Azuki NFT collection. Their manga and anime-style skateboarder characters received instant appreciation for their look and feel.
So, while conceptualizing your NFT, give special attention to the art style, theme, and look of the NFTs, even if you’re not creating a PFP NFT. Try to extend the purpose of your NFTs into their appearance.
2. Attach Valuable Utility to the NFTs
The visuals of your NFT can garner your collection the attention it needs. But to sustain this, and gain the attention you deserve, you’ll need your NFTs to possess utilities. After all, the initial noise might die down, but people will only keep coming back if your NFT benefits them in diverse ways.
So, how does one choose a utility? This depends on two important factors. One, is the purpose of your collection. Two, what aspects of your purpose are most relatable to people.
For instance, GaryVee the Head of Vayner Media, entrepreneur, and motivational speaker, launched his NFT collection called VeeFriends. It was meant for people who followed his work, followed him on social media, and listened to him at various conferences.
So, he launched the VeeFriends collection where each NFT had a utility. The NFTs acted as access passes to an event meant exclusively for the holders. A few NFTs allowed people to have a one-on-one session with him. A few others enabled the holders to ask him a limited number of questions.
As you see, all these utilities are associated with what people wanted most from the public figure. They wanted his insight, his time, and a conversation with him. His utilities facilitated this, and more.
Thus, it is necessary to find out what your purpose is, and what people associate with and require when they come across the purpose. This way you can have the most appealing and necessary utilities associated with your NFTs.
3. Market the Collection Across Multiple Channels Before the Drop
Crafting the right marketing strategy is crucial for your NFT collection to sell out. This includes the understanding of the right time, content, people, and channels. Here’s how you can build your marketing campaign across channels.
Your Instagram page can be a space for you to showcase the visual aspects of your NFT collection. A sneak peek of a few NFTs, stories to engage the audience, behind-the-scenes of the process, and more things can be done. Leverage this as a gateway for people to join your exclusive community on Telegram and Discord.
Twitter can be a more formal space compared to Instagram. Here you can build your credibility and authenticity by discussing other NFT projects, sharing your thoughts and insights on them, and more. However, ensure that you don’t overdo this and stick to information that is somehow connected to your collection, and adds value to the people consuming it.
Your Discord and Telegram spaces can be for more insightful updates and discussions. It can help people stay up to date with your collection and its various stages of development. Furthermore, you can build the community by hosting video calls, remote events, and more to engage your audience, while keeping them intrigued about the collection.
Above and beyond this, have an official website that acts as your one-stop shop for all things about your collections. Whether people want to get information about it, know how to reach out to you, or find out the future of your project, they must be able to do it on your website.
4. Partner with Credible, Influential, and Like-Minded Communities and Companies
Partnerships will play a crucial role in your NFT collection development as they will help you in different ways. If you’re looking to reduce your cost, then choosing a launchpad or an NFT generator would be wise.
CreatorMachine is a zero-code, self-serve, and permissionless platform that can help you create NFT collections at a reduced cost and time. In fact, you need no prior knowledge of coding to be able to use it. The platform also helps you whitelist and launch activities for an additional charge.
Choosing such platforms to create and launch your NFT collection can make your task easier and add more authenticity to the venture. Besides this, you can also partner with communities that align with your purpose and leverage them to spread awareness about your NFT collection.
A similar strategy can be adopted with influencers and experts in the blockchain space. They have a reach and following that you can use to create buzz around the collection. However, ensure that you choose the right influencers who understand the space and have the credibility of their own.
5. Share a Glimpse of the Future with a Clear Roadmap
Finally, it is always a good thing to share with your audience, community, and potential customers the roadmap for the future. This would showcase, how your project is not simply an NFT collection like any other but has a proper plan for its future development.
The way you write the roadmap also depicts how much knowledge you have about the different aspects of your NFT collection. This would be one of the many deciding factors for people to buy your NFT collection or not.
Conclusion
Overall, these are the top 5 tips and strategies to ensure that you sell out your NFT collection. Now, that you know how to sell out an NFT collection, get started with your own, and follow the above steps, among others to accomplish this feat.
