Value or Hype — Answering the Ultimate Dilemma
Read on to know what you should focus on to bring the best results for your NFT collection.
A common question we get asked by our clients is this — Do I focus on creating value or hype for my NFTs? When we think about NFTs, they are just any regular product or service you are selling to your customers. It is a lifetime investment that can increase or decrease value based on how you trade it.
Building a Community is Key to Success
It would be best to focus on building a community around your NFTs — no project is successful without a community surrounding it. You will need a group of genuinely interested people in the collection you are promoting and stay eager for your launches. Without a community, you cannot build value, and without people who value your content, you cannot create hype. Let’s break down the psychology of creating a solid community and what you need to focus on to make your project successful.
Build your community with our experts. Know more about NFT community marketing.
Creating Value from Your Target Audience
You can choose between being a passing phase or consistently offering good utility to your audience. Let’s first define hype. When something gains popularity, people become increasingly enthusiastic to be a part of it.
Imagine celebrities hype your NFT, and it becomes the talk of the town. Everywhere investors turn, they notice your ads and details about your NFTs. But after your launch, people begin to replicate your NFTs and you lose your hype — you become one among the crowd!
To retain value
- Do something unique to stand out from the crowd.
If everyone is offering the same NFT artwork
- Try to go for a nostalgic vibe with pixel art.
- Or zoom ahead to something futuristic and curate a collection nobody has seen before!
- Redirect your audience to your community and marketplace through social media content.
The idea is to add some utility to your NFTs, which will benefit your audience while also adding advantages for your brand. You can bring in recall value and keep your audience updated with a well-planned strategy and consistent remarketing through newsletters and emails.
Build trust and authenticity
Narrating your journey is an excellent way to project yourself as an authentic brand. Try to meet commitments like daily PR activities. People can see news articles featuring your brand and know that you are working towards something intriguing. Turn to consistent content marketing to make people trust you as someone who knows the NFT-verse. They will also know that your NFTs are legitimate, and they can gain benefits by investing in your collections.
The key factor behind this is to know your target audience thoroughly. If your NFT investors have shown a frequent behavior of checking PR activities every Thursday, be sure to put out a blog on that day. Or create threads on Twitter or go live when you know they will be most active. This gives you brand awareness and brand value, and a brand personality and unique voice.
Want to know how to promote your nft on Twitter for community building for your NFT’s
Short-Term Attention VS Long-Term Loyalty
Engagement is a great way to attract customers and make them stand by you loyally. People don’t just tune in and pay attention during your launch. They stick to your brand owing to the utility you give them.
Imagine you have a car NFT — it can be customized and upgraded to suit your preferences. What you can do to stand out from the crowd is make it a racing game in the metaverse and encourage people to play races using the cars they customize. They can earn rewards, crypto, and even cash by consistently winning races!
- The value created here permits users to monetize their time, talent, and skills.
- You are building a community of gamers interested in collecting NFTs.
- You are benefited when you sell your NFTs and gain engagement with brand awareness.
Since this is a very niche audience, you are likely to generate leads that last and make good conversions.
We mean this by ‘value’ rather than just creating popularity for your NFTs that have nothing different from competitors.
⭐️Key Takeaways
➡️ It would be best if you created NFTs with something unique to make you stand out from the crowd.
➡️ ️️Your NFT collection needs to offer utility to the crowd.
➡️ Engage your audience with consistent and unique content on various platforms to achieve brand recall.
➡️ It would help if you struck a balance for mutual gain (success and benefits for both your brand and your audience).
➡️ It isn’t all about selling your products and creating short-term hype. The real deal is about creating value and generating long-term leads.
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