When getting started on your own as an NFT creator with no support from seasoned experts, it is imperative that you know the possible challenges you could face while marketing your NFT collection or project.
Knowing these will help you better navigate the space and help you stay on track regardless of external circumstances.
The NFT market is new and will develop over time. In the beginning, there are a lot of challenges that new NFT creators face. But they can certainly be overcome by anyone, like the 13-year-old Nyla Hayes, who defied all odds and became a multi-millionaire within a year of launching her hand-drawn NFT collection.
This blog will elucidate some common NFT marketing challenges so that you can save a lot of time and effort when dropping your NFT collection.
1. Struggle to Market in Multiple Places
As a creator, you probably want to spend most of your time doing what you love, i.e., creating. However, marketing yourself and your NFT project is a very tedious task because there are several social media platforms, like Instagram, Facebook, Reddit, and Snapchat to name a few.
So, how do you get around this? Is there a way to get the best results with minimum effort?
While there is no shortcut to success, there are certain things you can do to optimize your impact-to-effort ratio.
For this, you must know your target audience and choose platforms that can give you the best conversion rates. Simply put, you have to dedicate the maximum amount of time and effort you can to platforms and channels that are relevant to your NFT project or niche.
For example, if you are an oil painter or sketch artist and want to turn your masterpieces into NFTs, then Instagram would be much more relevant compared to a platform like Soundcloud or Spotify.
2. Don’t Know Which Blockchain or Marketplace To Choose
Creators who are new to the crypto and NFT space are often overwhelmed by the options presented to them.
If you have begun your research, you will find that there are several blockchains on which you can drop your NFT collection — each with its own pros and cons.
The real dilemma arises when you learn that most of these blockchains are very siloed in nature and are not interoperable. Meaning that an NFT on the Ethereum network cannot be sold on the Solana network.
“But, how is that a marketing challenge?”, you may ask. Well, the siloed nature of blockchain ecosystems formed distinct sections of people that are bullish about specific blockchains. For example, many ardent ETH-based NFT holders voluntarily choose not to pay heed to NFTs on Solana or other networks. As a result, this greatly affects your target audience set as a creator who is trying to market their NFTs.
However, if you have done your due diligence and hope to provide value over a long period, then you could still be better off choosing a blockchain that fits your needs perfectly but might not be the go-to network for most people at the moment.
For that reason and many others, MantlePlace, an NFT marketplace in the Cosmos ecosystem, could be a great place for new creators to launch their projects.
As part of the Cosmos ecosystem, MantlePlace does not restrict the users to a single chain, rather it facilitates interchain NFT transfers with the help of IBC.
This interoperability and sovereignty make the Cosmos ecosystem a great pick for creators who do not have much technical knowledge and want to build their projects for years to come!
Below is a list of marketplaces that you can consider:
| NFT MARKETPLACE | NETWORK |
|---|---|
| MantlePlace | MantleChain (Cosmos Ecosystem) |
| Magic Eden | Solana |
| Solanart | Solana |
| SolSea | Solana |
| Paras | Near |
| OpenSea | Ethereum and Solana |
| Rarible | Ethereum |
| LooksRare | Ethereum |
3. Unable to Manage the Community
As your project begins to gain traction and the community starts to grow, more questions start flowing in.
For an individual, it becomes virtually impossible to be able to constantly engage the community and answer every question after a certain threshold. Understanding and accepting this is the first step.
To overcome this challenge, creators, like yourself, can hire other people to manage the community while they focus on creating art and building the project and/or have a pre-made list of FAQs to which they can redirect the audience.
Another very effective way to manage the community is to create a discord server with different channels. Below are a few channels to consider.
| CHANNEL NAME | CHANNEL PURPOSE |
| Official Links | This channel is read-only It is dedicated to displaying official links of the project. It will help users steer clear of fraud or impersonating websites. |
| FAQs | This channel is read-only. It is dedicated to frequently asked questions about the project. |
| General Discussion | This is an open channel. Here, the community members can interact with each other. This can also help as a support channel for new members and alleviate some work off of your shoulders. |
4. Unable to Create Mass Content
Creating content at a large scale is difficult for any kind of individual creator.
For a YouTuber, writing several blogs can be difficult.
For a photographer, vlogging the entire day can be difficult.
For a blogger, creating videos can be difficult.
However, for the success of your project, you should ideally be creating all forms of content because they all serve different purposes to different people.
- Video content — Primarily community engagement
- Blogs and other articles — Primarily SEO and education
- Photos — Primarily bite-sized information
- Tweets — Primarily announcements
The ideal way to tackle this is to first automate all the repetitive and scalable content.
For example, you can use social media scheduling tools to schedule tens or even hundreds of tweets in a single go. That way you can focus on creating other types of content.
To create content that falls outside of your expertise, like creating high-quality videos or writing engaging blog articles, the best way forward is to estimate whether or not they are critical for your project, then outsource them to a business or freelancer.
5. Struggle to Build a Loyal Audience
New NFT creators often feel like they are fighting a war when building a loyal and supportive audience.
For the most part, the real reason for this is that they are trying too hard by targeting everyone.
The secret to building a supportive audience is to strategically segment them and tactically target them.
For example, if you are an NFT creator who paints birds, the chances are that somebody who is very inclined toward dogs might not resonate with your art to a great extent. On the other hand, other bird lovers would be inclined to buy your NFTs.
6. Do Not Communicate Their Vision
You might get so engrossed in creating your NFT collection and promoting the individual art pieces that you miss out on communicating the bigger picture to your audience.
This is particularly true for NFT creators who want to attach some utility to their projects.
So, make a note to actively speak about the larger vision of your project and why you are doing what you are doing on social media, discussion forums, and more.
Conclusion
Launching and marketing an NFT project is a monumental task. With the right guidance and knowledge, you can skip several mistakes that you would have otherwise made.
We hope that this article helps you create a marketing plan for your project.
If you need more help with marketing, here is a step-by-step guide for beginner NFT creators.
About AssetMantle
AssetMantle is a multi-tenant NFT marketplace framework that enables creators and collectors to securely mint, own, and trade digital assets on its fast-finality blockchain. The AssetMantle no-code toolset allows creators to create customized assets and marketplaces permissionless-ly . Likewise, collectors can own the assets minted across these marketplaces and compatible chains in a singular wallet with minimal gas and a lower carbon footprint. Built on the interNFT standard, AssetMantle implements an end-to-end stack of open-source modular tools that developers can modify to fit advanced use cases.
contribute to interchain NFT standards; currently being spearheaded by us & the interchain foundation: https://github.com/interNFT/nft-rfc/tree/main
Vision
Build an open-source, community-driven framework for inter-chain NFTs and metadata standardization by contributing to the ‘interNFT standard’.
Mission
Provide a platform that enables a diverse set of NFTs use cases that extend beyond arts and collectibles and can potentially change the representation of rights and ownership of real-world assets like real estate and other commodities.
AssetMantle is always on the lookout to connect with individuals or organizations who wish to take advantage of the opportunities present in the blockchain space and want to learn more about AssetMantle. If you wish to get in touch, please do not hesitate to reach out.
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