The most valuable NFT is worth up to $91.8M.
As of 2021, there are around 360,000 NFT owners.
However, only 9% is contributing to ~80% of the market value (Financial Times and Chainalysis).
Interested in creating your own NFT? Read this.👇
Who is Wilson K. Lee?
- Wilson is an entrepreneur and a very well-known business branding development strategist.
- He aims to make Web3 a better place for everyone by sharing his tips, tricks, and experiences!
The Steps
Identify Your Niche
- NFT isn’t always about the art. It’s about filling a void in the marketplace.
- Who do you want to target?
- Once you know who you are targeting, how do you want them to feel?
- BAYCs aims to make their holders feel trendy
- Cool Cats are wholesome
What is Your Mark?
- NFTs are still growing.
- They started with art then collectibles, and now gaming. What will your NFT provide to the market and what will it become?
- Don’t think copy paste!
- #Crypto + #NFTs = All About Innovation
Team Assembly
Keep in mind that one person can execute several roles in your team. Just make sure the workload is workable for the person.
- Artist - generation of the art
- Gen artist/developer - random image generation
- Backend developer - smart contract
- Backend developer - mint site
- Front end developer - mint site
- Community manager - discord/twitter management
- Marketer - collaborations and outreach
- Founder - cheerleader/waterboy
Timeline
- Time for the project > 2 months
- Set a launch date and add 2 extra weeks to that
- Double-check, triple-check, check and check.
Budget
- Usually a Flat Rate or Percentage of Sales
- Development: 10-30% of sales or ~$50k-100k
- Art: ~$10k-50k (depends on style & effort)
- If you are confident that you will sell out, consider a flat rate. If you aren’t, go with percentage of sales.
Marketing
- This is where you get your word out. How do you plan to do so?
- What tactics are you going to use?
- Hype
- FOMO
- Scarcity
- Brand collaborations
- Influencers
- Contests
- Paid
- Build in public
- You can use more than one marketing tactic, but make sure it provides value.
Whether you want to create NFTs for fun or to earn money, remember these 4 things.
Be honest with yourself and just be a good person.
Communicate, communicate, and communicate!
Always deliver VALUE.
And finally, build your community and trust!
Good luck!
NFT People To Follow:
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