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But beyond these world-famous examples, the universe of NFTs is developing in multiple niches, including digital entertainment, video content, digital art, and gaming. And this new thriving industry is offering unprecedented and nearly endless opportunities for creators.
So, how do you get started marketing your digital arts and make a living from selling NFTs and phygital collectibles? Although a lot depends on your art and goals, this quick-start guide by Authena can help you understand how to take your NFT collection to the next level. Let’s dive in!
What Are NFTs?
To understand how to market your collectibles, it is firstly important to understand the nature of what you are trying to sell. Indeed, although there are a few similarities between NFT and phygital assets – including the fact that they rely on underlying blockchain infrastructures – these two collectibles are different. Here’s what you need to know.
Non-Fungible Tokens (aka NFTs) are a type of single-edition digital collectible with a unique value. NFTs can take many forms, including digital clothing, digital real estate properties, virtual art, and virtual furniture, and can be exchanged within compatible Metaverse spaces.
Although the technology behind NFT is still in evolution, the potential it has shown so far is expected to propel the industry through the next few years, and revenue from NFT trading is predicted to reach a whopping $8,412.00m by 2027.
What Are Phygital Collectibles?
Although there are a few similarities between NFTs and phygital collectibles, the two assets aren’t exactly the same. Indeed, phygital collectibles commonly refer to commodities that have both digital and physical components.
So, if buying an NFT means buying the string of codes associated with a physical item, buying a phygital collectible means buying the physical asset through a unique digital code.
Marketing Your NFT Collection: All You Need To Know
As NFTs become more popular in a multitude of industries, your collection of exclusive NFT and phygital goods have an opportunity to take off and reel in significant sales. However, none of this can be achieved without a bulletproof marketing strategy. After all, the competition for NFT and digital collectibles creators has never been fiercer.
So, where to start? The marketing strategies below can help!
Find the Right Platform to Market and Sell Your Collectibles
The first step is to understand what are the best platforms, directories, and marketplaces to sell your NFTs.
If your digital collectibles are created to exist in a specific metaverse, then you’ll be looking to sell your collectibles in an in-game store and through in-game cryptocurrencies. For example, Web3 games such as Axie Infinity have in-game digital coins (AXS), a digital currency that is currently trading at $7.82 and can be used to buy virtual assets.
Alternatively, if you have created digital artwork and you wish to sell the NFT attached to it, you might consider NFT marketplaces and directories such as OpenSea. Although these large marketplaces can certainly bring visibility to your creations, don’t forget that competition can be fierce!
Leverage Authentication Strategies To Boost User Trust
One of the reasons behind the unprecedented popularity of digital and phygital assets is that they cannot be tampered with. Indeed, any NFT transaction is immutably recorded on the blockchain thanks to the use of Smart Contracts and decentralized protocols.
Nonetheless, when selling items from your phygital and NFT collection, it is good practice to use end-to-end authentication systems that allow buyers to track and trace the collectibles they have purchased, such as the ones custom-made by the authentication experts at Authena.
Take Advantage of Social Media and Create a Reliable Network of Partners
Although having a large audience can increase the chances of you closing an NFT sale, it is important to appreciate a smaller but more dedicated audience.
On marketplaces like OpenSea, you’ll be able to expose your creations to the eyes of millions of potential buyers. However, if you are looking to leverage a more personal connection with them, make sure to look beyond the marketplace itself! Instead, set up a thriving and engaging social media community and ensure you interact with your audience!
Engage With Your Audience Through Giveaways and High-Quality Content
Producing NFTs and phygital collectibles is only the first part of the job! Once your collection is ready, you will need to market it and advertise it. And to do so, you’ll need to find alternative ways to connect with your audience.
A great way to generate organic traffic and attract the interest of potential buyers is through giveaways. These can help your audience get to know your art and boost engagement.
Alternatively, consider focusing on content! High-quality description, behind-the-scenes, and “meet the artist” sessions can help your audience get to know you better and connect on a more personal level.
Create Always Better Phygital Collectibles
One of the greatest advantages of NFTs is that design options are endless. So, while you might be looking for ways to market your current NFT collection, don’t forget to get started on the next project and create better collectibles to sell.