How to Launch, Grow, and Market your NFT to the moon.

There's no question that NFTs are the hottest trend in gaming and blockchain today. And with that, there are a number of ways to monetise them from selling them on a marketplace, or even reselling them for more than what you paid for it. In this article we're going to outline how to launch, grow and market your NFT to the Moon!

What are NFTs?

NFTs stand for Non-Fungible Tokens. They are tokens that are unique, meaning they can't be duplicated or copied. NFTs were initially seen as a novelty, but they're becoming more popular because of their potential to provide inherent value to digital assets just by being themselves. Non-fungibility is a rather complex concept, but it all boils down to the fact that each token can have a different use case and value to its respective owner, even if it shares the same functionality.

Why do people create NFTs?

Supply and demand: Digital art is a relatively new medium, but the market for it is already massive. With the rise of social media platforms like Instagram, artists have been able to build massive audiences for their work, but the traditional revenue streams for digital art have been severely limited. By creating an NFT, an artist can create a unique and limited edition of their work to be bought by collectors or fans.

Authenticity and scarcity: This is part of the appeal for collectors, but also for creatives who want to create a unique piece of art that can never be replicated. It's also valuable for branding purposes (e.g., an influencer could sell branded NFTs) or as a way to establish proof-of-ownership (e.g., with intellectual property).

Immutability: Once an NFT has been created, the details of that artwork cannot be changed – this includes everything from the metadata associated with the artwork to the price at which it was sold. The work becomes permanent and immutable as part of the blockchain network on which it was created.

What is the advantage of launching an NFT on the Blockchain?

The appeal of launching an NFT on the blockchain is multifold. For one thing, it’s a great way to verify ownership of your creative piece and protect it from counterfeits.

The blockchain is also a more secure way to sell art. It provides a permanent record of the transfer of ownership, which makes it harder to sell fake art or forgeries.

And since both the original artist and their fans can participate in the transaction, the exchange of funds can be transparent and fair.

How to launch your own NFT?

1. Create a digital art piece in a file format that can be displayed on the internet.

The NFTs you buy and sell are not the digital files themselves, but rather the unique and indelible identifiers that prove you own them. That means you can create your NFT as a PNG, JPEG, GIF or any other widely used web image format.

2. Use an NFT platform to upload your file and confirm its authenticity.

Once your digital art is ready to go, you'll need to upload it to an NFT platform like OpenSea, Rarible, SuperRare or one of the many others that have cropped up over the past year. The process will vary slightly from site to site, but for the most part, you'll be asked to provide some basic information about the item (title, description, date sold), as well as some kind of proof that it is indeed your original work. Uploading a screenshot of your computer screen as you work on an image is one way to do this; another is by adding a watermark with your username inside it.

3. Set a price for your NFT — or just give it away for free if you want!

NFT prices vary wildly depending on the artist's notoriety

From there, you need to consider how much money you want to make and what sort of revenue share you want with the marketplace. You can set a fixed price for your NFT, or let people bid on it in an auction. In that case, you can also set a reserve price — if no bid reaches that level, the sale won't go through.

Another option is to have buyers pay a "commission" for each subsequent sale of your NFT — the more times it's sold and resold, the more money you make. This is called a "royalty," and it's a good way for artists to make money even after their initial sale.

If you're creating art for your NFT, remember that it has to be unique — no matter how many copies of it are made in the physical world, there will only be one copy on the blockchain. In addition, know that once someone owns your NFT, they can do whatever they want with it.

Can I make a living out of creating NFTS?

There has been an explosion of artists selling their work as NFTs this year. It is still unclear whether these works will hold their value over time, but there have been some big sales. In February, Christie’s auctioned an NFT-based artwork by the digital artist Beeple for $69 million. And the musician Grimes has earned almost $6 million by selling her own work as NFTs.

How to Market your NFTs

Marketing your NFTs is the same as marketing any other product. You need to figure out what makes it unique and special, who is going to want to buy it, and how to reach them.

Marketing is one of the most important components of selling NFTs, and it can be challenging if you don't have any experience. Here are some basic strategies that will help your NFTs stand out in an increasingly competitive market.

Know where to sell your NFTs

You can build an audience and create a brand around your work. You can use social media like Twitter, Instagram, and YouTube to grow your following. But these are passive promotional activities. The best way for digital artists to sell their work is through direct or marketplace sales.

Direct sales

If you're trying to sell a single NFT, such as digital art or a personalised video from a celebrity, then direct sales are generally easier than marketplace sales because you don't have to pay listing fees. There are tons of ways to make sales through direct channels: Twitter DMs, Instagram DMs, email marketing, Discord servers, and more.

Marketplace sales

Marketplaces make it easier for collectors to find the NFTs they want because the sites rank them based on criteria such as popularity and price. This makes it easier for sellers to get discovered by buyers who may not know about them otherwise.

NFT ecosystem and beyond

Although we are still in the very early stages of the NFT ecosystem, we can see that they are extremely powerful. Customers are still learning what NFTs can do, and how they can be used. 

They should be considered a viable investment choice. But they can also be something even more: a platform for distributed business growth.

Efforts towards improving the NFT ecosystem lay the groundwork for an entirely new way of doing business, and NFTs are just one of many steps towards that goal. Fortunately, new projects and initiatives will continue to be launched, providing more uses for NFTs.

Written by Karl Sandor
Co-founder & CMO @ The Growth Guys