Are you looking to launch your own NFT project?
Then this article is for you!
We’ll walk you through the information you need in order to get your project off the ground. From marketing tips to additional information for artwork generation, the blockchains for minting as well as other considerations to keep in mind when prepping for your NFT launch.
Let’s get started…
The Project Plan and Roadmap
First and foremost, you need to have an idea for your NFT project. If you don’t have one yet, you’ll need to think about what you want the project to be about, and what type of NFTs you want to create. Once you’ve accomplished the two, you’ll need to create a well-thought-out plan and roadmap.
Your project plan should outline the goals of the project, as well as the deliverables on how each of these goals will be accomplished. Because you need to show your audience how you’ll progress with your project, your roadmap will lay out a timeline for the project, and it should be updated regularly to ensure that everyone stays on track.
We cannot emphasise enough how important a project plan and roadmap are especially for NFT projects. With so many new projects being launched every day, it’s essential to set yourself apart from the competition. And a well-executed project plan and roadmap can do just that.
Make sure to include the following in your project plan if haven’t added them already:
- The goals of the project
- The launch date
- The steps needed to achieve those goals. Which pre-requisites and deliverables do you need to get done?
- A timeline for the project. How long will it take in order to achieve specific goals?
- A budget for the project. How much are you willing to spend for certain steps to be accomplished?
- The team behind the project. How many members do you need to execute the tasks optimally?
Consider Your Artwork Storage
When it comes to storing the artwork and data, you’ll want to opt for a decentralised system such as using IPFS. IPFS is a peer-to-peer network that allows for the storage and distribution of data, wherein your data is stored across numerous devices. This makes it much more secure than a centralised system.
Consider Which Artwork Generator to Use for Your NFT Collections
Before you create the NFTs that will be used in the project, you’ll need to come up with designs for the NFTs, and have a system for issuing them. But generating unique NFT artworks by manually crafting each of them can be tedious and time-consuming.
Fortunately, you can generate artworks more efficiently through NFT collection generators. Here are a few of them that are worth exploring:
To determine which NFT collection generator to use, you’ll need to research and test them in order to know which one can actually generate your artworks effectively.
Select the Appropriate Blockchain For Minting
Selecting the right blockchain is essential. Most successful projects have more or less taken the time to determine the best blockchain that they considered to use.
Take note that, not all blockchains are created equal, some blockchains are better suited for minting NFTs and each has its own strengths and weaknesses.
Make sure to choose one that not only caters for minting NFTs but is also best suited for your project, to ensure that your project has the best chance of success. There are many blockchains to choose from, we’ve listed a few of the most commonly used blockchains:
Now, some of these have been used by the biggest NFT projects, but again, choose according to what will benefit your project the most.
Consider Gas Fees When Transacting on the Ethereum Network
In order for transactions like minting to take place on the Ethereum blockchain network, a gas fee needs to be paid by users. This fee can be expensive at times, especially when there’s a surge in the network or if the transaction is more complicated to compute.
However, there are less costly alternatives such as Solana and many others that most NFT projects have used. We recommend researching further to know which one will fit your preferences.
NFT Smart Contracts
An NFT smart contract is a self-executing contract that runs on a blockchain. It holds information about the NFT such as the individuals who will receive royalties and much more.
Because an NFT smart contract verifies whether the conditions and terms have been met or not, before executing any action, it makes a perfect component for NFTs. With this, they provide security and trustless execution for the sale and resale of digital assets.
There are many different platforms that allow you to create NFT smart contracts. Be sure to verify that the smart contract code that you are creating or using, is in line with the blockchain you have chosen. You can also use existing templates to get started.
Select the Appropriate NFT Marketplace for Selling NFTs
Similar to choosing the appropriate blockchain for minting NFTs, you’ll need to choose among the various NFT marketplaces where you can sell your NFTs. Some NFT marketplaces cater to specific kinds of NFTs, take for instance Myth Market, which prides itself as an NFT marketplace for digital trading cards. If your NFT is a photograph or a musical piece, then you might want to research the best NFT marketplace to sell that kind of NFT.
Social Media Marketing
Not only can you use social media to promote your NFT project, but it is also one of the best ways to engage with your target audience and learn from other NFT projects and their experiences.
Platforms like Twitter, Facebook, Instagram and Reddit help you reach a large number of people. Make sure to post regular updates about your project, and to respond to any questions or comments that people leave.
But of course, you can’t expect people to simply flock to your posts. Being strategic when giving them information about your NFT project is crucial.
But do not provide all of the information in one go. Distributing them bit by bit plants the seeds for curiosity in the minds of your target users. Information such as your project launch date, and minting price, need to be posted in increments.
In the following sections, we’ll discuss a few social media channels that can be helpful to your project. But by all means, you can add a few changes to them, as they are general best practices.
Twitter is one of the best channels to promote your NFT project before it launches. This is why you’ve probably seen the majority of NFT projects use this platform to market their NFTs.
By posting regular and informative updates about your project on Twitter, along with a few related hashtags you can reach a large number of people within the niche of your project.
Forums are another means to help you get your project across to social media users. With forums, not only can you increase your reach but you are able to enter a world where your project can actually be heard, seen and discussed by forum members.
Similar to Twitter, you’ll need to provide some information (not all) that members can talk about. Therefore, writing about your project on various forums is key. The aim is to get feedback from existing members of the community and to connect with others in the NFT space.
Be sure to include a link to your project’s website, and make sure to follow the rules of the forum before posting. Not all forums have the same rules, and not all forums are catered around similar topics of discussion. Make sure you research which forum sites to join that are best for NFT launches and discussions about NFTs.
YouTube can be a great way to promote your NFT project, and if you plan on creating a YouTube channel, you’ll need to answer the question, “How will videos be used to promote the project?”.
A few ideas that you can create for your videos would be to introduce your project in a creative way, show individuals how to use your tokens, or highlight the features of your NFT. However, making videos can be a laborious task, so consider if the information you want to put on video can be placed as a description on your site instead.
But, if you do opt for creating YouTube videos, be sure to make your videos interesting and engaging, and never forget to include a link to your project’s website in the description of each video.
Online Press Release
An online press release is one tactic to get the word out about your project during the post and pre-launch stages. It can also create a lot of buzz in the NFT world. So if you’re planning on doing a press release, be sure to follow the guidelines of the outlet you’ve chosen to work with.
When promoting your NFT project, having it discussed through podcasts can be an effective way to thoroughly inform your target audience. By sitting down with hosts and discussing the project, you can ensure that listeners will have a good understanding of what your project is all about.
We would advise finding a podcast show or podcaster who you can collaborate with that has an active listener base, in order to really drive engagement for your project.
Because once you launch, you’ll need to promote the project and get people to start minting or buying the NFTs on top of managing the project and making sure it’s running smoothly. So if you can reach the audience of your chosen podcaster or podcast show, that would be extremely helpful.
Build Your Own Community
Building a community is one of the key steps in launching an NFT project. This community will help you promote your project as well as provide feedback and support as you develop it. And so, it’s important to start building this community well before your project launch, so that you have enough time to grow loyal and engaged supporters who know what to do during and after the launch.
There are many ways to build a community for your project. One of the most effective ways is through social media such as Reddit. However, Discord is a great place to start. Many projects use this platform as it’s a great place to build a community. You can also host meetups and events to bring people together in person.
Whatever approach you take, be sure to engage with your community and listen to their feedback. This will help you create a project that they will be excited to support.
Using the Discord Server
During your pre-launch phase, you need to gather as many interested individuals to become members of your Discord community, as the goal is to have established and engaged members on Discord.
As you gather more members to join, it is essential to set up different channels beforehand for specific groups of members or particular activities to keep the communication easy to follow. For example, if you were to have a giveaway for members only, then it would be wise to have a channel dedicated to giveaways instead of posting the giveaway information on a channel for urgent updates about the project.
Don’t forget to discuss the rules, provide timely updates and respond to the questions of your members. Create a place to build a long-lasting and open relationship with your members by actively participating in the community, and make it a platform where people can come to learn and share their ideas.
The Website of Your NFT Project
Informative and Transparent
When launching an NFT project, it’s important to have a website that is both informative and transparent. This website will be used as a reference for people to learn about the project and other information that they need in order to make a decision as to whether they should support your NFT launch or not. Whatever decision they choose, your website should be well-designed, easy to use, and that all the information is easy to find.
Include the Strong Features of Your NFT
Consider the strong features of your NFT to act as “selling points”. You’ll need to add these features to your website to help people understand why they should purchase or mint your NFT. Make sure your “selling points” are clear and concise, and that they highlight the unique features of your NFT.
Specifics, Technical Details, Project Goals and Vision
In addition, your website should include a page outlining your project’s goals and vision. This will help people understand why you’re creating this project, and what you hope to achieve. You should also outline the technical details of your project, so people can understand how it works and how it will unfold besides showcasing the roadmap.
An Authentic and Creative About You Page
Your “About You” page should present the story behind your project and not just oversimplified details that do not evoke interest. On this page, you can get creative when explaining the purpose of the project and what inspired you and your team to do it. But note that there is a difference between being oversalesy and being creatively authentic and the latter is what you want to achieve.
Credibility and Trust
Creating a website with whitepapers, a roadmap, and encouraging information on how to join your community adds an extra layer to your site that shows your project is credible and trustworthy. As these are sources that can answer the concerns of your target audience.
Make Sure Your Website Is Well-Designed
We previously mentioned this earlier but we cannot stress enough how important it is to have a well-designed website. This will ensure a better user experience in terms of getting to know your project and all the nitty-gritty technical information.
Imagine having a website with a background colour of black, and font colour of red in a font style that is extremely upset. It does not really help your viewers grasp the information or even stay for long because reading becomes difficult for them.
Be Available to Answer Questions
One of the most important things you can do when launching an NFT project is to be available to answer questions from potential supporters. This will help build trust with them and show that you’re serious about your project.
Ensure You Have Enough Members to Help You
Having a solid team in place is essential for any successful project. This is especially true for the launches of non fungible tokens. In order to promote and launch your project successfully, you need a team of people who are knowledgeable about NFTs and blockchain technology so that the flow of each process and deliverable is exceptionally executed.
Your team should also be well-connected with the community. They should be active and be able to connect with other members in your chosen community space or community platform. This will help you build relationships faster and more effectively as you are confident that your team can help your members and supporters every step of the way before and after the NFT launch.
Remember, having a team in place who can help you execute the pre-launch, launch, and post-launch activities will be critical to your success.
Giveaways are a great way to generate interest in your project and help you build a community of supporters. They can also help you increase awareness of your project, and generate publicity for it.
When hosting a giveaway, make sure you select a prize that is enticing to your target audience or your target NFT community as this will help you attract more people to your giveaway, and increase the chances of them participating.
Make sure you promote your giveaway extensively on social media and other online platforms in order to reach a larger audience and drive more engagement.
Once you have a winner for the giveaway, be sure to announce them on your platforms and show gratitude to everyone who participated by thanking them publicly. By doing these, you are able to show your appreciation for the community’s support, which encourages your audience to continue supporting your project because of your authenticity and ability to see your supporters.
Set a Limit for the Allowable Number of NFTs to Mint
Setting a limit for the number of tokens to be minted will help you manage the supply and demand (or to create scarcity) for your tokens, where your targeted individuals would want to secure their own tokens as soon as possible.
Prepare for Issues That Can Arise
Fraud and scams are always a possibility when it comes to launching an NFT project or any project for that matter. There are many scammers out there who are looking to take advantage of unsuspecting individuals, so it’s important to be aware of the risks involved and to take steps to protect yourself and your supporters.
Here are a few things you can do to:
- Having a solid team in place who are knowledgeable about the malicious schemes that can happen in the NFT and blockchain technology universe
- Constantly educating your supporters and community
- Acting fast on potentially fraudulent activities that your community or team members bring up
By taking these steps, you can help reduce the chances of fraud and scams occurring and protect yourself, your team and your supporters from these.
NFTs are a new and exciting opportunity to explore. But they can also be challenging for new artists or inexperienced entrants to the NFT market. To ensure you have every chance for success with your NFT project, use these tips as guidance on how to launch your NFT collections or digital art.
From setting limits on the number of tokens that will be minted to considerations for creating a smart contract and selecting the appropriate blockchain, hosting giveaways, considering low gas fees, driving community-building efforts, etc., all the information we’ve shared in these sections can help give you the best chance for success.
If you need help with your NFT project, Book a FREE session with us today!