How do you attract NFT buyers and collectors? (2024)

Key takeaways from this article

• Craft a compelling story:

  Weave a unique narrative around your NFTs that resonates with potential buyers. Telling a story that's engaging and relevant can create an emotional connection, enticing collectors to invest in your digital assets.

• Be patient and persistent:

  Understand that the market for NFTs is still developing. Stay the course with your marketing efforts, knowing that building interest takes time. Early adopters today might be the trendsetters of tomorrow.

This summary is powered by AI and these experts

• Vikram R Singh On a mission to make India the world's…

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  As humans beings, we are story-tellers. If one wants to create a new IP, web 3 native, than the story they tell must be original and appealing to a high-enough number of people to create the community core. If NFTs are used to leverage an existing product or service, then a hybrid narrative containing web 2 and web 3 aspects can be deployed, using the core values derived from the product or service itself.

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  NFT is still at his early stage and users are not able to understand the use of it.In the current market, e-commerce is something which every user uses.In order to capture the NFT market, there should be a real time use case which could attack customers toward it.

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  Before diving into the selection of a marketplace, network, and or promotional strategy for your work or product, it’s pivotal to grasp that creating an NFT is fundamentally about marketing your authentic product via the underlying NFT technology. A common misconception is that one buys or sells an NFT itself; in reality, one transacts a product that is encapsulated by the NFT technology.Understanding this aspect is crucial as it allows artists, traditional and web3 companies to lay a solid foundation for a great product and subsequently for successfully attracting buyers and collectors.

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  The uniqueness and originality of NFTs are paramount, especially in a saturated market. When we launched our first NFT collection, we didn't just rely on aesthetic appeal. We worked on a narrative and utility for our NFTs, creating a deeper connection with our audience. For instance, holding a specific NFT gave access to exclusive AMAs.Always have a legal team review your work. In one instance, we avoided a potential copyright issue by modifying an NFT design that had elements resembling a trademarked icon.Lastly, engage with your community. We held AMA sessions, gathered feedback, and iterated. This not only improved our collection but built trust and loyalty among our audience. Remember, in the NFT space, community is everything!

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  Lo importante del NFT no es solamente hacer arte, mintear y tratar de vender, esa moda ya paso. Ahora lo que debemos hacer es entender los beneficios de la tecnologia que conlleva un NFT y sumar valor a los potenciales compradores. Tenemos que ver de que manera solucionamos problemas de clientes con NFTs. Ese sera el arma de venta mas potente que cualquier desarrollador pueda lograr

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  If you aim to hit an HNWI market, choose Ethereum only. Opensea is your marketplace of choice, but beware of Blur and other aggregators if your collections succeeds. For gaming projects, consider Polygon. Base is a nice option for 2023-2024 projects, especially if you are targeting the US market. Aptos and Sui showed some potential, but as of late 2023 they could hardly win a substantial user base.

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  Para la creacion y venta de NFTs, lo primero que debemos hacer es analizar el mercado. De nada serviran nuestros esfuerzos por ahcer un NFT de valor, si luego el mercado no lo valida. Asique primero analizar audiencias y potenciales compradores, analizar sus problemas y ver la elasticidad del precio de nuestro potencial NFT para hacer un mini Business Case y ver si sirve o no lña idea. Luego ver la blockchain y demas tecnisismos para meter en el analisis de costos, y si todo cierra bien, avanzamos.

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  Selecting the appropriate marketplace and network is a critical decision for your NFT project. The wrong choice can be disastrous, leading to a mismatch with your target audience and potentially undermining your project objectives. For example, if your target audience primarily uses Ethereum (ETH) and you launch on a lesser-known, smaller network, the perceived value of your NFTs could diminish significantly, alienating your community!!

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  See Also

  How to Choose What NFT to Buy - Everything You Need To KnowWhat can you do with an NFT? - Everything You Need To Know
• Patrick Camuso, CPA Camuso CPA | Digital Asset Investors | Web3 Businesses | CryptoCPA since 2016 | Web3 CFO | First CPA Firm To Accept Crypto | NFT Sales Tax | Author | Speaker

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  Choosing the right marketplace and network for your NFTs is crucial. Beyond the technical aspects, it's essential to ensure that the marketplace complies with tax and legal obligations, including sales tax. Understanding the tax implications within the chosen platform is as vital as evaluating its features and security.When exploring your options, consider platforms that not only align with your NFT standards but also offer transparent tax-related information and support. Sales tax requirements can vary based on location and the platform's policies, impacting your overall earnings and compliance. Hence, thoroughly vetting these aspects helps safeguard your financial interests and ensures adherence to legal obligations.

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  Before the marketplace, other choice should be done.Blockchain Network is the first one, as you can get different outcomes based on different chains:- Ethereum is the most used one, mainly for art and general purposes;- Polygon has been used lately for projects needing many on chain activities, as games;- Solana is a low cost layers, good for many different actions and opportunities;- Base has launched lately, with very low fees and the higher possible feeOnce launched, you have to decide in which marketplaces show best your product. These can be:- OpenSea, the one for the masses;- Foundation, with a wider focus on Art;- Flooring Capital, if you want to address more the financial part of the NFT project

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  Promotion is something that doesn't fit at all with the usual activities done in web2. Digital Marketing like paid advertising is not a thing for NFTs and web3, you'd rather focus on a much more organic approach.Get user be creating viral tweets and solid communication framework, being consistent and creating contents, reaching out to content creators that are willing to support you and intriguing them to build up the audience on your project.As when you create marketing funnels, here's the same, with the aim of converting potential holders in real ones and brand ambassadors of your project.

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• Vikram R Singh On a mission to make India the world's web3 capital | Keynotes | Startup enabler | Global CEO

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  Even though the fundamental principle of marketing is the same, the tactics and roadmaps are different in web2 and web3. So what search engines are for web2 products, communities are for web3. For promoting NFTs, creating a community around the product that believes in its long-term vision is important. Everything else is just noise.

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• Satyendra Pandey Full Stack Developer || Rider(9 states and counting)

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  No matter what you are going to add in web3 market , either its NFT or its decentralised network core concepts as a product , it will take a lot of time to gain the trust from community. To generate awareness , first build the trust with basic approach. Before showing the solution , first understand the problem.When you do this , then definitely it will gain trust , it is just a matter of time.

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• Dr Prof Laurent FLORES ✅ Author, Professor - Sailor, Kitesurfer, ParaGlider

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  Promotion IS Key... The act of promoting could either be "organic" (community based) or "activated" (paid media). With no abilities to be known and desired the NFT Can not sell... But eventually, it's the Utility that will make or "break" it. After all, this IS simply sound marketing activation. Again KPI and measurement show and validite this. Check www.brand3index.com for example to find out more.

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  There are three potential approaches with high chances of success: 1. Build a strong personal brand in web3 and launch an NFT collection as a reputable founder. 2. Partner with a well-known brand (either in web3 or some real-world one). 3. Pay loads of money to influencers and shillers, and get ready to suffer when they switch to another shiny thing, offloading their bags on your devoted community.

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  A los NFTs como bien comente anteriormente, lo importante es darle valor al usuario final. Mas alla de eso, tambien podemos utilizarlos como un medio y no como un fin, ¿que quiero decir con eso?, podemos entregar NFTs gratis, pero que esten ligados a nuestro programa de Loyalty 3.0, entonces estaremos proporcionando valor a la comunidad, a la vez que la comnunidad nos proporcionora valor a nosotros a través de su fidelidad como consumidores de nuestros productos/servicios

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• Patrick Camuso, CPA Camuso CPA | Digital Asset Investors | Web3 Businesses | CryptoCPA since 2016 | Web3 CFO | First CPA Firm To Accept Crypto | NFT Sales Tax | Author | Speaker

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  Providing value and incentives is crucial in nurturing a thriving NFT ecosystem. Offering unique perks like discounts, bonuses, or exclusive access not only rewards current collectors but also entices potential buyers. Creating a sense of exclusivity and scarcity around your NFTs can indeed amplify their appeal and value, fostering a community that appreciates and supports your creations.Incorporating royalties ensures ongoing benefits for creators and incentivizes collectors to engage with your NFTs, knowing they're contributing to the success of the original creators. Ultimately, the value and incentives you provide can deepen connections with your audience and drive continued engagement and growth within the NFT space.

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  The best way to attract NFT buyers and collectors is by showcasing your product, enhanced by NFT technology.Relying too heavily on discounts and bonuses can be counterproductive. Reducing prices shouldn’t be your primary strategy to sell your NFTs. This approach diminishes the perceived quality of your NFT. Instead, focus on perks and incentives that are deeply integrated with your product (leveraging the underlying NFT technology) to foster meaningful engagement with your users. This approach not only adds value to your project but also reinforces the perceived quality of your NFT.

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  Be careful with over providing. It may be tempting to promise a lot at the beginning to make the offer attractive to later find out it makes no sense to develop the project because of the incentives you need to keep up with. Business model is not a fuzzy word even for NFT projects. Make sure you've got one and align value and incentives you offer with this business model.

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• Dr Prof Laurent FLORES ✅ Author, Professor - Sailor, Kitesurfer, ParaGlider

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  The Key to any Brand NFT IS t's UTILITY value ... It must provide lasting value else it fails... In the long run .. So brands must drive Valuable proposition, measurement confirms the insight across multiple catégories from Luxury to Commodity products 💯 for more insights visit for example www.brand3index.com a company that mesures Brand NFT impact.

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• Laura Bolanos Business Dev | Marketing fCMO | I'm passionate about assisting SaaS founders in implementing social selling to achieve success.

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  Partnerships are the GOAT in web3. Partnerships in Web3 are a strategic imperative, enabling businesses to leverage collective strengths, mitigate risks, and propel innovation, ultimately driving sustainable growth and success within this dynamic ecosystem.

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  Collaborations are a great tool to attract new audience and expand reach, especially during the bear market and when you are limited in marketing resources. Don't be afraid to reach out to bigger projects, many are open to collaborating if you've got decent concept, art, team, and live (even small) community.

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  Web3 is a very collaborative space, and while some tribalism exists in certain corners, the overall attitude in the industry is that of a growth mindset. It can be intimidating to approach industry experts, but a vast majority of them are more than willing to share what they know and even explore ways to collaborate with you. Keep an open mind, because most people in the space are doing exactly that.

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  En el ecosistema Web3 siempre hablamos de colaboracion & comunidad. Lo importante que esto genera en las audiencias no tiene valor monetario. Tambien los NFTs son una herramienta potente para generacion de comunidades, donde podemos generar canales exclusivos en discord con ingreso a owners de cierto NFT, oun influencer puede distribuir NFTs a su comunidad y hacer un meet & great con su gente en un bar coningreso exclusivo con NFT, por citar algunos casos

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  One of the greatest collaboration tool that projects are not using enough is the engagement with web 3 conferences. The projects could partner with summits all over the world to become community partners or sponsors. This will also offer community members across the world to organise and attend IRL meetings during the events.

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  The path to greatness is through consistent improvements.Lucky we, web3 offer such a spectacular way of gathering up insights & feedback - your community!Those who test more hypotheses at a given time win eventually.There are some things fixing which you'll expose the growth by 80%, doing just 20% of actions. Think about this carefully, before going into the tech stack.

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• Vikram R Singh On a mission to make India the world's web3 capital | Keynotes | Startup enabler | Global CEO

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  This is very important. While building NFTs for a global car maker, we knew the significance of experimentation to keep the investor (buyer) motivated. So look beyond bombarding random content in the community and rather launch campaigns that have actionable returns.

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• Patrick Camuso, CPA Camuso CPA | Digital Asset Investors | Web3 Businesses | CryptoCPA since 2016 | Web3 CFO | First CPA Firm To Accept Crypto | NFT Sales Tax | Author | Speaker

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  Continuous improvement and experimentation are key to thriving in the dynamic NFT market. Staying abreast of trends and buyer preferences allows for staying relevant and competitive. Seeking feedback and analyzing data helps refine strategies while exploring new tools and platforms can uncover fresh avenues for engagement. Embracing experimentation in genres, styles, and themes encourages creativity and innovation. It's about pushing boundaries, learning from experiences, and evolving alongside the ever-changing NFT landscape.

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  Improving and experimenting are undoubtedly essential, but it’s important not to pursue improvement merely for its own sake.Project owners often find themselves under pressure to continuously enhance their projects due to market developments or the community asking for new features. Although feedback is vital, it’s equally important to carefully assess the risks and benefits associated with integrating new features.Finding a balance is key. Avoid overthinking matters, but carefully consider the benefits a new feature could bring to your NFT project.

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• Radu Birta Strategy | Marketing | Web3 | Tech | CommunityGrowth

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  Rather than experimenting with your NFTs, when you are ready to launch the final collection make sure that you are done experimenting.Make sure to keep your community engaged for the long term, not just during the initial sale

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• Vikram R Singh On a mission to make India the world's web3 capital | Keynotes | Startup enabler | Global CEO

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  "There are no buyers for NFTs!"We often stumble upon these misconceptions that derail major marketing campaigns. How many buyers were there for bitcoin when it was just 4 years old? Remember, we are the first generation of web3 builders, creating products for the future buyers.

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  We were running one of the biggest RWA launches in Web3 space with NFTs in the core.You might wonder what's the point of having NFT there?Super simple - to improve customer experience through entertainment and a bit of gamefying.3 levels of the incentive program, to unlock the treasury rewards (native tokens and stables), after filling each - you get the NFT that already includes all the freebies.So now you can trade, redeem, flip, or even upgrade them. A whole new economy.

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• Osueke Henry Content strategist | Grow your Web3 project with content marketing that works

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  Create high-quality, unique artwork that stands out. Good art is essential.Build a community around your NFT project through social media and Discord. Engage with your audience.Promote your NFTs on platforms like Twitter and Instagram. Leverage influencer marketing.Offer giveaways, contests, and other incentives to attract first buyers. This builds momentum.Utilize crypto/NFT influencers and promoters to spread the word about your project.Stage exclusive pre-sales or early access events to build hype. Limiting supply creates demand.Leverage crypto conferences, networking events and collaborations to reach new audiences.Highlight real-world utility, rewards and benefits offered to holders. This provides value.

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• Antonio Palma Web3 VC Ecosystem Fund @ChromaWay/Chromia | Business Director @MyNeighborAlice | Mentor @Techstars

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  Without mentioning the "utility" topic, I think success lies in building a strong narrative around your assets. Showcase their uniqueness, artistic value, or connection to a broader cultural or digital movement. Engage with potential buyers through both virtual and physical channels. Provide them with a story, not just a digital file. Remember, people buy stories and emotions, not just JPEGs. If your NFT has no soul, it's just another forgettable entry in a crowded blockchain ledger.

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  Tell your story.Beyond aesthetics or the prospect of value appreciation, people collect digital assets because they want to belong to a community of like-minded people and support shared goals and values.

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