An Expert Guide on How to Promote Your NFT Token or Collection
Non-fungible tokens, or NFTs, are all the rage as investors, flippers, and enthusiasts look to capitalize on the crypto sub-sector. NFTs have experienced periods of growth and decline but strong interest remains. As such, new NFT collections should be expected to launch, especially now that the crypto industry is recovering from the damage done to the industry in 2022. For those that want to launch their non-fungible tokens, there is one crucial question to answer – how do you promote your NFT token or collection?
There are many ways to cross a river. You could build a bridge, use a boat or ship, fly over the bridge, or even go around it.
The same is true if you want to promote your NFT token. But before diving deeper into that, let’s take a look at a few facts that point to how competitive NFT marketing is.
NFT Facts and Stats
It is estimated that as of March 2023, there are over 50,000 NFT collections available for purchase. This is a very conservative figure.
According to Statista, revenue in the NFT industry is projected to increase from US$892.5 million in 2022 to $1.6 billion in 2023.
NFT revenue projections show a marked increase from 2022 to 2027. Source: Statista.com
The number of NFT users/holders is expected to reach 19.31 million users by 2027. In January 2022, NFT sales volume reached a high of $2.8 billion. A year later in January 2023, the sales volume declined by 83% to $492 million.
The decrease in sale volume is in line with the broader market conditions within the financial sector. But it’s not a permanent situation. The tide is expected to turn, and when it happens, NFT sales volume is expected to grow exponentially.
How then do NFT creators promote their NFT tokens during this temporary downturn and the expected surge in the future?
How to Promote Your NFT Token
Many people take a leaf out of crypto marketing to figure out how to promote their non-fungible tokens. You know that effective crypto promotion strategies are key to growing your project and community. But do the tactics designed for crypto marketing work when you want to promote your NFT token or collection?
You can borrow some of the marketing ideas. But you will also need some custom ideas to boost your NFT project and drive more sales.
Take a look at the ideas given below.
Get Influencers or Celebrities on Your Side
NFTs have played a crucial role in bringing non-crypto people to the space. They have accelerated the adoption of crypto, and this is in part, thanks to celebrities and influencers.
Influencers are essential to the success of NFT projects. Celebrities and influencers shine the spotlight on your project. Without them, an NFT project could eventually die a slow and painful death.
How do you avoid this?
You bring in influencers with the right audience, skills, and reach to take your NFT project to the next level. You can do this by manually searching for influencers to work with. However, this is tedious and time-consuming.
The best thing is to use a professional marketing agency. There are several reasons why you should hire a crypto marketing agency for your influencer marketing campaigns.
If you don’t want to go through the hassle of looking for crypto agencies to promote your NFT token, you can consider CryptoPromo, one of the best influencer marketing agencies within the crypto space.
It is not easy to find top crypto influencers or YouTubers that can contribute to your project’s growth and success. CryptoPromo makes this step easy for you because:
Build a Community
This one should not come as a surprise. You can never be successful in crypto unless you build a strong community that continuously sparks conversations around your crypto project.
A strong community is the heartbeat of every project. There are several ways to build strong, galvanized communities.
The first one is to leverage the power of social media to promote your NFT token. Use Twitter and Discord to get closer to NFT enthusiasts and investors.
Share new updates, memes, and project news with your community. This way, you keep your community loyal and engaged.
An engaged community will drive conversations around your NFT project, causing people to talk (or write) about it. Your project becomes visible to the right audience. This helps you build trust, an important factor in the success of NFT projects.
Offer Utility and Perks
You need to understand the reason why people buy NFTs. While these reasons vary individually, here are some of the most common ones:
- The right to flex
- Flipping NFTs
- Belong to an exclusive community of NFT token holders.
- Offer utility and perks.
The Bored Ape Yacht Club, an NFT collection commonly referred to as Bored Ape, mastered the importance of perks and utilities.
Several factors contribute to Bored Ape’s success. The Bored Ape collection can be used as an avatar for profile pictures on applications such as Twitter.
Another important reason is that holding a Bored Ape NFT is a symbol of status as celebrities such as Eminem, Justin Bieber, etc have owned the NFTs at some point in their lives. NFTs should be more than beautiful art.
List Your NFTs on Popular Marketplaces
List your NFTs on well-known marketplaces. NFT marketplaces such as OpenSea and Rarible receive millions of visitors daily.
Yes, the majority of NFT creators are taking the same step. The silver lining is that you earn credibility for your project.
Optimize Your Website
Your website or landing page is as good as your face or voice. Make sure that the website is well-designed, easy to navigate, and intuitive.
You can also make your website SEO-friendly. SEO is short for search engine optimization, and it is important because it makes it easy for search engines to crawl, index, and display your website. In turn, this translates to increased web traffic.
Content Development and Marketing
Attend Podcasts and AMAs
What is one of the simplest methods that you can use to promote your NFT token? You can attend podcasts, interviews, or Ask-Me-Anything (AMA) sessions.
They give your project credibility and trust. It is very important that you gain the trust of potential NFT buyers.
NFT Drops and Giveaways
There is also another subtle way that you can use to promote your NFT token or art collection. It involves NFT drops, giveaways, and competitions.
Why does this matter?
This is because it is a promotional strategy that directly benefits users. Everyone wants to receive free NFTs through drops, giveaways, or competitions.
In exchange, you can ask your audience to spread awareness for your project. This strategy is important because if done right, it uses a large number of NFT enthusiasts to promote your NFT token or collection to the right audiences.
Airdrops are important because they give NFT holders good reasons to support the success of the project. The common interest between holders and project creators makes airdrops a good marketing strategy.
Giveaways are important because they give you a chance to gauge the momentum that your project has. If few people participate in the giveaway, it means that you still have a lot of work to be done.
Short Form Videos
Video reels should be part of your strategy as you promote your NFT token. This is so because the majority of people nowadays prefer watching short videos packed with humor, entertainment, and valuable information. Find a way to marry these in a short video.
You can then post the short videos on various platforms such as YouTube, Instagram, TikTok, Facebook, and Twitter among others.
Final Thoughts: How to Promote Your NFT Token
Promoting your NFT token comes down to a combination of outreach, engagement, and incentives to generate interest and excitement around your project. Implementing these strategies can go a long way in increasing awareness and driving adoption for your project.
There are several routes that you can take to achieve this. You can add features and functionality to your NFT collection. The utility will give holders a tangible incentive to buy your NFT collection.
As always, you must engage with your community using various social media platforms such as Twitter, Discord, and more.
You can also leverage influencers and celebrities to give your project a major advantage. If you are looking for a professional crypto marketing agency that connects with industry-leading influencers, get in touch with CryptoPromo as soon as possible.