Many of us are questioning the current model followed by cryptocurrencies. One such crypto-enthusiasts sees a potential market shift in favor of a more centralized NFT model which will take advantage of community driven solutions.
NFT Marketing is still in its infancy and has not reached mainstream adoption yet, but this article is informative on the up-coming changes that mark the next evolutionary step for promote nft. It provides actionable tips from an experienced cryptocurrency developer and gives insights into why he believes it is necessary to adapt to new models as we wait for wider adoption.
1. What is the current model of NFT marketing?
The current model for NFT marketing involves the creation of unique, non-fungible tokens (NFTs), and offering them to the community. The idea behind this method is simple: create a token, offer it at a fixed price in an ICO or in private sale, and allow investors to transfer ownership of that token outreach.
For an ICO scenario, it requires amends to be made beforehand on the underlying blockchain platform. For example, Ethereum allows developers to create their own ERC20 token standard on top of their blockchain and then issue their own crypto asset. This is how CryptoKitties was able to execute their ICO.
For an NFT marketing, the NFT would be created internally and then issued by the company in an ICO or a private sale event.
2. HOW DOES IT WORK?
NFT Marketing is focused on creating unique, non-fungible tokens (NFTs), and selling them at fixed prices to the community members. Here are some NFT Marketing tips:
- Use unique characters for each character name on the letterhead of your company or business card. For example, if your logo is based on a mermaid, use “Mermaid” instead of “Company” as your first name on a business card or letterhead.
- Add a numeral after each item in the payment proposal. For example, if you are asking to purchase 10,000 items with a minimum purchase value of $200 each, add “1” after the price and number of items sold. If you’re asking for 100 items at $200 each, add “10” before the “2”.
- Add a unique character for each item on your payment proposal.
- Add unique characters for all special characters in your payment proposal such as hyphens (-), asterisks (*) and underscores (_). This is very important in order to ensure that both client and bitcoin wallets can properly recognize and process each transaction properly.
- Add your company logo or unique company characters before the payment proposal so it can be recognized immediately by customers. The more characters you add, the better chance of being recognized and remembered. Find here.
- Create a logo with as many non-fungible characters as possible and have at least one unchangeable image that you can use on your letterhead, business card and website to identify yourself as a NFT Marketing affiliated business. Many people create logos that have hundreds of non-fungible characters which are impossible to change once they are used on their website, marketing material and other company assets used for advertising purposes.
- Investigate and verify that your exchange or wallet can accept long character strings. If your company name is “My Company”, you can only use one letter “M” in your payment proposal. If the character size is limited to 30 characters, you must use a way to identify yourself such as “MyCompany1-30” instead of using the entire company name.
- Create a boardroom for brainstorming creative solutions for NFT Marketing. Many companies have created this type of atmosphere which improves their overall strategy and team performance. Add a sign at the entrance with “NFT Creative Boardroom”. Many people do not know how to use this environment and how to properly execute certain strategies for NFT Marketing.
3. Most important tip
Lower the cost of creating a company name or logo with as many characters as possible before you start creating your NFT marketing campaign.
The above mentioned tips are just a few that can be used by companies to generate more leads, develop creative ideas and improve their overall strategy for NFT Marketing.
He is an active member of the crypto community, educator, trader and advisor offering private workshops in eth-based trading strategies and ICO investment advice. He is also the founder of the CryptoCurrency Training Academy which provide training seminars on Blockchain & cryptocurrency technologies at conferences and blockchain conferences around the world.
4. Future of NFT marketing
One such crypto-enthusiasts sees a potential market shift in favor of a more centralized NFT model which will take advantage of community driven solutions. He believes there is huge potential for value capture via an unsaturated tokenized ecosystem. Here are some extracts from the article:
“The opportunity is to start capturing value immediately before the community takes it over.”
“Bringing in-house the entire NFT ecosystem, that includes creation, publishing, advertisement, transactions and gaming will make it highly valuable.”
“Incentivizing the community by creating an internal token that can only be used on its platform allows you to build your own brand and reputation with cryptocurrency enthusiasts.