To develop and launch a profitable NFT collection, pay attention to the aspects that impact the collection's success:Utility
. Utilities are some additional perks and bonuses connected with the project or with the blockchain on which NFTs are made, and received by the user after purchasing these tokens. The presence of such tokens’ usefulness makes it twice as easy to create a community and reduces the marketing budget by half. Furthermore, by creating NFTs with utility, your chances to be noticed by big investors increases.
Utilities can be different, but the most trending are NFT staking, yield farming, and access to private communities. As the example of the Bored Ape Yacht Club and their private community showed, this worked and still can work very nicely — the users really want to buy NFTs to enter the unique private club.Ideology and storyline.
To gain success, you should also create thoughtful lore (storyline) and build an ideology on the basis of which the project will function. It can be fiction, real-life events, or even a unique fantasy world, created by you.Bright and unique visual.
As we said before, the bright and unique content, images, and visual is the key to success due to the fact that people are visual and memorize the images more than the text. Remember, beauty is simplicity and uniqueness.Partnerships.
The probability of a project's success increases when the project cooperates with the leading NFT marketplaces, such as OpenSea, Avalanche, Polygon, Binance NFT, Magic Eden, and any other well-known platforms. Partners are investors who invest in the project and get their own benefit from it.
For example, if you partner with Binance NFT, then you will get an increased chance to sell your collection on this marketplace. In addition, Binance as a platform can promote your collection on its own if it’s unique and worthwhile. To partner with famous platforms, you should take care of your NFT collection by making it qualitative, unique, and worthwhile.
If your NFTs do not have utility
, and your project hasn’t entered into partnerships
, use these methods of promotion and improvement of your product:
- Strong marketing strategy and campaign (a large budget is required);
- Essential and unique visual and content;
- Memorable and catching storyline;
- Collaborations with influencers and ambassadors.