Almost everyone from huge brands such as Louis Vuitton, Samsung, and Lamborgini, to Hollywood celebrities such as Paris Hilton, Snoop Dogg and Shawn Mendes, have joined the NFT crypto craze. While big players are seeing all kinds of success, there are some who fail to capture a good amount of attention or fail to launch a successful NFT project. They either suffer technical difficulties, website crashes or exploitation by bots and attackers.
You might be wondering, “How can I avoid launching an NFT project that falls flat?” “How can I ensure the success of my NFT project launch?”
Here are the 7 most effective steps to build a successful NFT drop.
1. Define the goals of your NFT project.
The first thing you have to do before even planning to launch an NFT project is to define your goals. Ask yourself: what do you want to achieve in creating this project? What outcomes do you wish to see? Most brands and individuals who enter the world of NFT say their main goal is to prepare for the metaverse, create a community and provide value to their audience.
Whatever your goals may be, make sure to clearly identify them. This will give you and your team a clearer view of where you are going with your project.
2. Decide which type of art to create for your NFT project.
Once you have defined your goals, the next step is to decide which type of art you want to create for your NFT project. Do you want it to be a 3D art, sounds or video? When choosing
the type of artwork to launch, you want to consider the kind of people your target audiences are.
For example, for Sylvester Stallone’s SLYGuys NFT project, the art is inspired by the actor’s movie role in the majority of his films which is an action hero. This idea is what actually appeals to his fans.
Whether you’re an artist trying to earn money by selling NFTs or a Web2 company wanting to see a glimpse of the NFT space, you need to make sure to put your collectors on your top priority. Thus, building a strong NFT community is a must.
To create a community that deeply believes in what you do, make sure to adhere to the following points:
- Establish social media channels (Discord, Twitter, TikTok, Telegram, Instagram, Reddit)
- Connect with NFT enthusiasts
- Reach out to social media influencers
- Create a professional website
- Produce promotional videos, photos and written content
Remember, there is no perfect time to build a community than now. The more value you give to brand-building, the better chances you will have of building a loyal following for the long term.
4. Deploy a smart contract.
Smart contracts refer to digital contracts where the terms of an agreement between users is set in code. These contracts can be programmed to self-execute once a set of pre-defined conditions are fulfilled.
A secure and resilient smart contract is crucial for the success of any NFT project. Fortunately, you no longer have to create smart contracts from scratch. In fact, many successful NFT projects have published their contract source code on either Etherscan or PolygonScan.
5. Plan a long-term roadmap.
Another thing you need to have is an NFT roadmap. Your roadmap will help communicate your future plans to your audience including when you’re doing reveals, when your mint date is and so on. This will also give your potential buyers and your community members a clear sign that you’re committed to the project.
Essentially, a roadmap gives your audiences an idea of what they can expect for being part of your community. It doesn’t need to have exact dates. It can be just a flexible document that includes your plans such as holding a giveaway at specific milestones or giving away special access to a premium experience.
6. Prepare your team.
Now that you have everything ready, the next thing you need to do is to assemble a team that can help you execute your plans. In most cases, an NFT team is consists of a project manager, a community manager, artists, developers, influencers and the founder.
As the founder of this NFT project, you play a crucial role in this space. In fact, it’s your reputation that’s on the line. As such, it’s your responsibility to choose people who can help bring your NFT project to life.
Launching an NFT project is pretty exciting. However, make sure not to let the enthusiasm cause you to miss the essential steps in creating an NFT project.
Give your community what you have promised. Be transparent about your progress and let them know if and when you need to push back on your launch date. Always remember, being upfront with your community can help strengthen their trust and will probably help to keep them on your side.