This will ensure you are one of the first informed about new projects so you can jump on them before they blow up.
- Understanding the different NFT blockchains
- How to drop an nft collection
- Financial/investment or NFT news publications (cough, cough)
- NFT communities
- What makes an NFT collection valuable
- How to drop an nft collection-make
- How to drop an nft collectionview
- How to drop an nft collectionneur
- 3. Collaborate with one another
- Most effective means of promoting your NFT endeavor?
- 6. Know your customer
Understanding the different NFT blockchains
As we touched upon earlier, NFT collections can be deployed on a variety of different blockchains. The blockchain of choice is entirely up to the discretion of the artists since each network offers its own set of advantages and disadvantages. On that note, here is a quick rundown of the most popular NFT blockchains and their unique characteristics:
- Ethereum – The most popular NFT blockchain for NFTs through its ERC-721 token standard. Ethereum is by far the most liquid and ubiquitous chain. However, it comes with high minting and transfer fees.
How to drop an nft collection
However, make sure you verify your sources, as social media is littered with bogus information and the potential for scams is high.
Financial/investment or NFT news publications (cough, cough)
NFT news publications like NFTgators can help you source news regarding upcoming NFT drops since you can have a higher level of certainty in the drops being mentioned. Our NFT collections index is another section to look at for finding opportunities.
Join an NFT related subreddit, Discord server, or another similar platform if you want to connect with NFT investors. These are excellent places to learn and share info about the industry and upcoming drops.
NFT marketplaces where drops are held usually advertise upcoming drops directly on their website.
That way, you can assess the quality of your work compared to theirs (as well as your audience and the marketability of your brand) before setting a realistic price.
What makes an NFT collection valuable
The very nature of NFT technology is what makes each collection valuable. Because they are non-fungible, each token cannot be replicated, and the blockchain serves as irrefutable evidence of ownership. Thanks to these traits, digital assets have provable scarcity for the first time in history, which is one of the key reasons they have surged onto the art scene in recent years.
With that said, you may be wondering what makes one NFT collection more valuable than another? Let’s take a look at some of the major factors that influence the floor price of individual collections.
How to drop an nft collection-make
While it is possible to mint your artwork onto the blockchain manually, it is advised to use one of the NFT marketplaces since you will have the option to sell your collection directly on their website.
On top of this, many of the leading NFT exchanges offer a lazy minting service, which means that you do not need to pay any fees to mint your artwork as an NFT. In this process, the NFT is made available off-chain and only gets minted once it has been sold to a buyer. In some cases, the NFT gas fee is passed on to the buyer too, which means the artist does not foot any of the cost for minting.
How to drop an nft collectionview
This uniqueness makes them valuable, as NFTs cannot be replicated, copied, or modified in any way.
As a result, NFT drops provide an excellent opportunity for investors to secure a one-of-a-kind piece of digital art at a low price, which means there are plenty of opportunities to turn a profit. It’s no surprise then that some of the most popular NFT drops are hotly contested, with hundreds, maybe even thousands, of people frantically trying to get their hands on these rare items.
Thus, if you’re planning to participate in a popular NFT drop from a famous artist, brand, or designer, you need to prepare yourself the best you can.
How to drop an nft collectionneur
- Polygon – Polygon, formerly known as Matic Network, functions as a secondary layer on top of Ethereum’s core blockchain network. In short, Polygon is a scaling solution focused on the use case of lowering transaction costs and increasing performance. In fact, Polygon has no gas fees, but the tradeoff is that it is less secure and has a substantially smaller user base than Ethereum.
- Solana – One of the fastest programmable blockchains.
It has substantially reduced transfer times and fees than Ethereum, although it has far fewer marketplaces and less liquidity.
- Binance Smart Chain – BSC is another great alternative to Ethereum as it offers high-speed, low-fee transactions. However, the cost of these benefits is that BSC is centralized, which is a turn-off for many investors.
As for NFTs, it’s important to note that some tokens have a specific use case on the blockchain. For instance, NFT gaming items and collectibles can be used within a video game, providing some utility to its owners. Gods Unchained, which is one of the most popular competitive trading card games on the blockchain, allows players to compete for weekly rewards based on how well they perform when battling against other players.
The more powerful the cards, the more chance a player has at earning higher rewards.
Image Source: Gods Unchained
In addition, there are plenty of other use cases for NFTs, such as yield farming through providing liquidity, staking, renting, and even royalty payments.
The more people see and like your work, the more collectors you attract.
The road to your NFT release is now less rocky.
3. Collaborate with one another
Musicians, fashion labels, celebrities, and animation studios collaborate to create the newest NFT works in the NFT Collection. First, they collaborate with other artists so that they may improve their work with the support of others.
Then, for a second reason, the two groups share audiences so that they may both build their fan bases. No money changes hands in the initial cooperation since it’s about recognition.
You can do something to help other creatives. So keep trying if you don’t hear back. You’ll spot you soon enough.
As a result, if you want to make money, you’ll need marketing.
This will capture your attention if you strive for recognition or your aim. The determination, effort, and passion required to become a well-known artist are always profitable. Making a reputation for oneself and expanding one’s bottom line are complementary goals.
You’ll need to advertise your work effectively to attract future collaborators and collectors to your NFT Project.
Finally, we appreciate artists that make an effort to promote their work.
Most effective means of promoting your NFT endeavor?
We’ve been keeping tabs on the NFT market lately.
Our marketplace has a lot of fresh drops, as well as a lot of information on new artists and their methods for advertising their work.
Aug 5, 2022
What is the process of launching an NFT project? How do we create a successful NFT drop? We speak to NFT creators like EBAO (Solebeasts), Jaze Phua (Moonsie) and Sam Neo (Kob-i in Asia ) who have successfully launched their NFT drops to find out what is behind their success
- How to create your NFT
- Setting up and selling on NFT marketplaces
- Costs of launching a NFT project
- Marketing your NFTs
CreativesatWwork is releasing our own NFT in Sept.
Even for NFT collections that strive for fairness and diversity by selling at a low initial cost, customers end up competing over NFTs through gas bidding. Many get priced out of buying, others lose gas bidding wars, and others leave frustrated, having spent more than they intended or than was advertised.
Virtual waiting rooms have made a splash in the NFT market because they enable fairness while also fulfilling Vitalik’s criteria of avoiding races and creating fun for customers. They work by redirecting website visitors from a site into a customized waiting room.
Customers who arrive on time for an NFT launch are given a randomized place in queue and are then throttled back to the website to purchase when it’s their turn.
By limiting the outflow from waiting room to transaction page, NFT launches can spread transactions out over a larger period and avoid gas wars among customers. This additionally keeps websites from crashing and payment gateways running smoothly, offering the added benefits of fair randomization, capturing the marketing hype of queues, and removing shopping bots from sales.
Related: Customer Loyalty in Ecommerce: The Surprising Benefits of Online Fairness
6. Know your customer
A key element of making the NFT space fairer is proof of personhood (PoP).
As the name suggests, PoP means each participant is required to prove they’re a real person.