Thread by @nftocity

how to create a successful NFT
🧵👇

1. Choose your niche

The success of pfp initiatives is due on factors other than art.
It's not about foxes, bears, toads, apes, cats, or other animals.

It's about serving a specific demographic, about filling a specific gap in the market, and about evoking a specific mood.

ie. #bayc attracts a hypebeast-style audience of underground hipsters.
#coolcats appeals to the pure family fun crowd.
#cyberkongz succeeds with token rewards crowd: bananas equal money

Start ur prject by identifying the niche u are catering to and the emotion you want ppl to hv

2.What's your mark,

#nfts are still in an evolutionary stage.
We are all looking for the niche that is most likely to be widely adopted. Art came first, followed by collectibles, gaming, etc.

What do you envision for the future of the market, and what value would you wish to bring to it?
Copying and pasting another person's work won't cut it.

Crypto and NFTs = innovation in its purest form.

3. team formation

artist/dev - random image generation artist - generation of the art
smart contract backend development front end of the dev-mint site community manager for the mint site's discord and twitter accounts
marketer, founder of collaborations, cheerleader, and wtrboy

Now keep in mind that team members can wear many hats.
An entrepreneur can be both an artist and a marketer, a developer can be full-stack, etc.

Before starting your project, ensure sure you have identified enough talent.

4. time frame

Set aside a minimum of two months to launch your idea.
obviously depends on your skill, team, and effectiveness.

Set a launch date and then allow an extra two weeks to execute everything correctly.
Check your work three times.

5. Budget

varies greatly depending on design and effort, with some developers ready to accept a larger flat charge while others prefer to take a percentage of sales, often 10–30% or $50–100,000.
Usually 10-50k+, depending on how certain you are in the series;

if you are unsure, a percentage is excellent; if you are positive, a flat is good.

Naturally, your cost will decrease significantly if you possess any of these abilities.

6. Marketing

Painting an exciting picture of the future is the essence of marketing.

select a marketing strategy that is effective for you.
- hype
- fomo
- scarcity
- brand collabs
- influencers
- contest
- paid
- build in public

Inspired by @wilxlee . go see their original post

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