NFT, the word of the year 2022 by the famous Collins dictionary, is more and more talked about. This non-fungible token is no longer the prerogative of computer and video game enthusiasts and is gradually gaining ground in new sectors.
Recently, John Lennon’s son auctioned off several of the Beatles’ personal effects in the form of NFT. A special sale because the buyers of the handwritten notes of Hey Jude and the cape worn in the movie Help! became the “virtual” owners. Indeed, Julian Lennon physically keeps these memorabilia at home, in his personal collection, while the buyers now have their digital certificates of ownership, their NFTs. Following its own codes, the NFT market disrupts the traditional notion of ownership. It creates a new bridge to a virtual world in which more and more time is invested. This booming digital revolution fascinates and questions. Between interest and controversy, what exactly are NFTs?
What is an NFT?
The NFT, an acronym for “non-fungible token”, is the unique title of ownership of a digital or, more recently, a real asset. It distinguishes originals from copies and is based on blockchain technology. The notion of fungibility is key to understanding how NFTs work. Anything that is interchangeable is fungible. For example, money is said to be fungible because two twenty-euro bills, or one twenty-euro bill and two ten-euro bills, have the same value and can be exchanged. The same goes for cryptocurrencies, one bitcoin equals another bitcoin. A master painting, on the other hand, is non-fungible. It has its own characteristics that make it a singular object and cannot be replaced. Even if the work is reproduced, the copy will never be completely identical to the original.
Since it cannot be plagiarized or have more than one owner, the NFT has a unique character and is thus, as its name indicates, non-fungible. The owner of an NFT cannot exchange it for another. To part with it, he will have to sell it on one of the marketplaces provided for this purpose. The NFT is attached to an object, most of the time digital, to which it brings proof of ownership. Be careful, it does not designate the object itself but the data that proves its ownership. Thus, an NFT can be the certificate of exclusive ownership of a video, music, a photograph, an element of a video game, a ticket to an event, or a work of art, to name but a few examples.
The exclusivity and uniqueness of the NFT are guaranteed thanks to the operation of the blockchain in which it is stored. The blockchain is a collective database organized in a chain of blocks. When information is added to this database, it is checked and accepted by the members of the network. A new block is then created and linked to the last one to form a chain respecting a chronological order. One of the specificities of blockchain technology is that each block has its own coding, making it almost impossible to modify the information it contains. It thus benefits from powerful security.
Why promote my NFT?
When you go out of your way to do everything you can to get noticed, you get noticed, so promoting an NFT, will attract the attention of many people, especially collectors, gamers, etc. People who are likely to spend their money on it. Promoting your product also benefits your personal brand as an artist, besides benefiting you in future projects, people will have already put their trust in you. This type of advertising related to this industry is known as Inbound Marketing.
What is Inbound Marketing?
Inbound marketing is a technology that focuses on attracting customers through the creation of high-value content and tailored experiences, forming useful connections, and providing solutions to real problems.
Inbound technology is based on three ways of application: Engage, interact, and delight. The first one tries to capture people’s attention with good content, besides strengthening your position with topics of their interest; the second one offers information and solutions to people, taking into account their needs and goals, thus increasing the probability that they will buy your product; and the third one provides help to customers, thus allowing them to succeed with their purchase.
This becomes a circle, which allows you to attract and awaken the interest of more people or potential investors because when a user is successful, he tells others about it, and it becomes a chain that makes your product more visible. Below, we will show you the main marketing strategies that you can use to promote your NFT.
Use your social networks:
A good way to make yourself known on social networks is through marketing. If we take a food business as an example, the best way to advertise it is through different platforms where you can find your target audience, with NFT games it is much easier, since most young people and adults are on platforms such as Twitter, Facebook, Instagram, Discord, Telegram, etc. Leveraging the audience of these platforms for the launch of your project is a good way to promote your NFT game, but you will also need to follow through with a social media marketing plan.
Join NFT groups on Telegram:
There are several Telegram groups where people meet, communicate and share their crypto art, likes for NFT games, etc. But as a tip, you don’t have to SPAM in any of these chats, as the admin can kick you out, as well as being an unpleasant experience. Try to do your best to make the participants of the groups notice your presence and remember you.
Collaborate with influencers:
Collaborating with influencers can be very beneficial in promoting your NFT project and as a marketing strategy, it is a good option, due to their large follower base, as they will take your opinion into account because they are trusted characters. Collaborations are beneficial for both parties, influencing your audience in your favor, and connecting with your community. You can also create links with artists or other influencers. You have to find an agency where that will help you find the right influencer for your brand.
Create an eye-catching teaser of your NFT project:
The teaser is used to project and show what your NFT project is all about. This advertising idea awakens interest in potential collectors, since they will be attentive to know more details and not miss the release date.
Become a collector:
Being a collector of NFT pieces created by other artists is a good way to enhance this universe. Therefore, if you are thinking of buying an NFT art by an artist, you should share it on your social networks, this will work in such a way that the artist will probably share your stories or publications and you will be expanding your audience.
We at Ecomtancyweb have worked with many NFT/ GameFi projects to help them reach their respective goals. We can handle all Marketing aspects needed for your NFT/ GameFi projects to establish a Unique Identity in the Metaverse space with a strong community base supporting your project. If you have dreams to achieve determined goals for your NFT project, Get in touch with us Now!