Do you have what it takes to build an NFT project?

Running an NFT project requires skills, knowledge and charm. Before you take the leap of faith, check you have what it takes to make a successful NFT project.

Looking at other successful projects and marketing campaigns, it is clear what makes a good NFT project and what makes a bad one! There are several steps you need to consider before carrying out your project if you want to be successful.

Note that success is never guaranteed, but the right strategy and attitude can surely help! Think of this blog series as your NFT starter guide.

Step One: What Is Your Purpose?

This is probably the most important step as it tells your audience exactly why you are here and why they should care.

So, what is the purpose of your project?

I am sure you have heard the mind blowing amount of money people have made from NFTs, but don’t use this to justify your project.

Investors aren’t interested in making you rich, which is why projects focused on making money usually fail. Plus, they are pretty boring and do nothing for society.

With that out of the way, what makes a good project?

Successful projects are the ones that focus on ideas bigger than themselves. This is called the community. Community is the reason people care about your project, they show what you can do for them and the people they love.

Good projects inspire people by promising to make a difference and support communities important to the investor.

With this in mind, what purpose shall you choose? Are you…?

🏍️Donating to a worthy charity?

🏍️Building an exciting game?

🏍️Educating your following on an important topic?

🏍️Starting an NFT web series?

🏍️Creating something revolutionary (advances in the metaverse are very exciting these days)?

The possibilities are endless.

But what do all these ideas have in common? They all think about the future.

NFTs are investments into the future. Buyers want to invest into an artist, a project’s ideas or for profit. For example, Biker Babes is investing into a respected charity as well as dedicating funds to a community-chosen project. These are the future goals that show our followers we mean business. Show your followers that you are more than just a summer hit, and you are here to stay!

To find your purpose, zero in on that core value of your project. This will be the reason your followers get hyped and invest in you. Sell your purpose, and then deliver.

Step Two: Create Relevant Artwork

Now that you have a reason to be here, what kind of art are you going to distribute. Are you good at drawing, making music or designing buildings? Could you make a game with NFT properties? Or how about an exciting new clothing line?

The reason NFTs are so big is because they provide a direct way for people to support and invest in the artists they love. Your art needs to be good quality and fit the theme of your project. For example, Biker Babes are running a Babes on Bikes art project to support the charity Blood Bikers.

Don’t have artistic skills? Hire an artist!

Another feature of NFTs is they help promote artists who otherwise would have never been discovered. Search for an artist who would be willing to work on your project. We met our artist Ahlan online and I am so glad we did. He has a lot of talent, and we hope our project will help his career (this further helps the community I was talking about).

Step Three: Formulate Your NFTs

Once you have your art, you can begin to craft your unique images. If you are drafting layered NFTs, you will need to make sure each image is different and there are no duplicates.

If you can, you should also programme rarity for certain traits. This is when some traits are more common in the generation process than others.

Share these rarity stats with your followers to create scarcity and excitement. Buyers will try to snag rare valuable NFTs which will drive up your floor price. This is great for both you and your investors.

Not doing a generated collection? Try to attach meaning to your individual pieces to really reach out to your audience. For example, is there a story that draws your project together? Does your project feature unique characters or settings that link back to your purpose?

Crafting a story around your project can show your audience the heart behind the art! Its a good idea to draft up a few ideas to connect with your following, something that they may relate to or empathise with.

Step Four: Deploy a Successful Marketing Campaign

Another major consideration is the marketing required. Successful projects have a strong marketing campaign because they take the time to get to know their community. They post educational content and updates on current events.

When you develop actual human connections with significant community members, you show the NFT space that you are a real person worthy of attention.

Successful projects communicate with their communities through active discord and social media channels. They will discuss and share ideas, as well as promote content they truly believe in. Your fans want to feel as if they’re receiving as much out of your community as they’re putting in. This is why marketing is such a huge part of the project.

Projects that shill their content through bots or spam never succeed because they don’t create a human connection. These are immediate red flags for investors.

You should also draft a clear and concise roadmap for your project. This shows investors all the information they need to know about your project and highlights your purpose from step one. Don’t promise more than you can deliver. Your roadmap must reflect your realistic goals and values.

To have a good marketing strategy, you will need to be available to your followers, answering questions, hosting giveaways, providing updates and information as well as generating excitement and fulfilling every promise. If you can do this, you will build trust, friendship and community that will support your project on launch day.

When hosting contests and giveaways, make sure the people who are participating are actually interested in your project. There have been cases where people win NFTs and sell them immediately without participating in the community. They will sell the NFT for a cheap price to get ETH, which lowers your floor price and can be detrimental to your project.

Tip: Add your launch date to NFT calendar as they may be able to get new eyes on your project.

Step Five: Set Up Your Wallet

You will need a suitable wallet to handle all your transactions during the minting phase. It will be used to pay gas and transaction fees as well as collect money from your NFT sales.

There are many wallets to choose from, with Metamask being the most popular. Check out some useful resources to help you make your choice. GameStop have also just released their own wallet which can be used on their own NFT platform (it is suspected their may be no gas fees with this wallet). Leave a comment below if you would like to read more about GameStop as we would love to write about them.

Step Six: Launch Your Project

You need to decide what platform you want to release your NFT on. Another major choice to make!

Each platform has unique features and personalities that will appeal to different audiences. This is affected by popularity, cost, competition, and the list goes on…

A key understanding of the platforms is the more decentralised it is, the longer it will take to execute transactions and the more it will cost. However, the more centralised a platform, the more susceptible it is to bots.

Alchemy wrote a good article to help you chose a platform. They also go into great detail on factors affecting these platforms, so be sure to check it out.

Conclusion

If you are serious about setting up an NFT project, get to know the NFT market. It can help to buy and trade NFTs, and build connections with important figures. But most importantly, you should learn as much as you can!

This blog series will help you get you head around the metaverse and NFT space. Participating in the NFT community has shown us that there are a lot of sleazy and forgetful projects out there, so there is still plenty of room for a good one to snap up the market! Will it be yours?

If you found this post interesting, please leave a comment to share your thoughts. We love to here new ideas and information on NFT technology so feel free to start a conversation with us!

We launching our own exciting NFT project where we will run a community project, donate to the beloved charity NABB and give out fun prizes, including a classic motorcycle! Join the ride by saying hello in our Discord server. Follow us on Medium, Twitter, Instagram or YouTube to keep updated on the project.

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