Artists still release NFT compilations all the time. This may surprise you, given the NFT ‘market’ crash in 2022. But the decline in NFT trading has opened up space for serious NFT artists and collectors, those who see room for a new kind of digital art and creativity, and there are still some fascinating projects that are released every day.
Contrary to what you might think, interesting and unique NFT collections and art projects are still in high demand. What is an NFT? Simply put, an NFT is a digital collectible that is held and sold on the blockchain where authorship is tracked and cannot be changed – it creates provenance, and it provides value. While we have a guide on how to make and sell an NFT and even my guide on how to make an NFT for free, launching an NFT collection is a bigger task.
So if you have a great idea for a new NFT collection, how should you go about launching it and getting noticed? Matthew Liu, co-founder of Origin Story, has some ideas. History of origin (opens in a new tab) is unique in the NFT space as it offers the tools you need to launch anything from an NFT marketplace to NFT collections.
Origin Story has helped NFT projects including Karafuru, OnChainMonkey and RoofStock onChain (opens in a new tab), the world’s first real estate NFT sales platform. Currently, Origin Story offers its platform to select customers, but the goal is to enable anyone to use it to build custom NFT collections, marketplaces, community drops, and collaborations. If OpenSea is Amazon, Origin Story seeks to be Shopify.
“OpenSea has taken an attitude that is now almost anti-creator, and it’s not very friendly. In terms of economics, all devices are treated as one size fits all, everything looks kind of the same, just like an Amazon product page ,” Liu says in his sit-down interview. “We’re taking more of a Shopify model, and when you think about Shopify, in the e-commerce world, it’s allowed millions of different e-commerce purchases to come online and have these more personalized, branded experiences and direct relationships with their customers. “
Origin Story aims to open its platform of tools to everyone this summer, and will enable users to create branded marketplaces and use a variety of models, including offering subscriptions, as well as engagement tools. The point is, if you’ve been looking at and wanted to create an NFT collection with all the bells and whistles of a major release from Beeple or Pudgy Penguins, Liu outlines the platform and tools to make it happen.
We’re on the brink of the next stage in NFT art—”we’re in the building phase,” says Lui”—and the broad Amazon-like approach of the best NFT marketplaces will likely be replaced, or at least complimented by , creator-focused platforms which offers an “Etsy for NFT creators” approach. But what do you need to know if you are planning a launch of the NFT collection? Liu has some advice.
7 tips for launching an NFT collection
01. Know your project
It may seem obvious, but before you start you need to know your goals and what your project is. Lui tells me, “I think the first thing you need to do is identify why you’re releasing NFT. Is it a digital art NFT?
It is worth considering a theme that is both trendy and timeless. Think about what’s hot in the art world right now, then choose something completely different. Just kidding, sort of. While it’s important to consider current trends when launching your NFT art collection, it’s also important to choose a theme that has some staying power. This way, your NFT collection will remain relevant and valuable long after the hype has died down.
Lui says ask yourself, “Is art the real tool or is your NFT meant to serve another fundamental purpose? Is it a ticket or is it something for play?”
02. Don’t be shy
“If you’re a pure artist, the thing you should really think about is how do you build community and how do you get people to follow you? This is a multi-pronged strategy,” says Lui, who advises not to be shy, but to come get out there and promote yourself. “First, get your work out there. Just like when you’re trying to build any type of audience, it’s about being seen and not being too shy. Train consistently and show that you’re in the NFTs for the long haul.”
Launching an NFT art collection requires some serious marketing skills. Think about who your target audience is and how you can reach them. Use social media, email marketing and other tactics to get the word out. As Lui tells me: “There is an art to selling art, so to speak”.
03. Build your community
As an NFT artist, you need to be part of the community to get noticed, and two key channels need to be used, says Lui: “Get on Twitter and Discord, these are channels that NFT collectors and artists use. Make sure you has a Twitter [account] and make sure you have a Discord [account] for your team members.”
Launching an NFT art collection takes time, effort and patience. Don’t get discouraged if things don’t take off right away. Keep creating, keep talking and keep refining your approach. In the end, the hard work will pay off, and even if it doesn’t, you’ll have made new friends and been inspired to create.
Basically, Lui advises: “Start engaging; engage with other artists and see if they want to create collaborative pieces or if they want to showcase their art alongside yours; participate in the community.”
04. Support other artists
Don’t exist in a bubble, but be a participant in the NFT world, says Lui. “A great way to get started is to take some money and just support other artists and buy some of their artwork. Be seen as a collector and an artist. You don’t have to spend a lot, but be seen as ‘ is committed to the space and supports the general state, and then you will probably get back more than what you put out.”
This can also help you set realistic prices. It can be tempting to set NFT prices sky high, but remember that there is a lot of competition out there. Supporting other artists also allows you to see what similar NFTs are selling for, how you felt about those prices, and price yours accordingly.
05. Meet people and get involved
Lui explains that some collectors can increase your credibility: “There are some celebrity collectors out there. If they collect your work, then that’s the seal of approval. If you get that, then suddenly your words are valued a lot more by everyone else. I think it’s important to do some one-on-one interaction, whether it’s online, or visiting NFT galleries or conferences; getting to know the important people in the room.”
But this all comes back to how NFT supports emerging artists: “One thing that’s pretty unique about the NFT community right now is how everyone is pretty supportive. A lot of these top collectors and influencers are trying to grow the space and trying to help everybody out and they are willing to use their money to support creators. So it’s really a golden opportunity.”
06. Think creatively about your NFT collection
“I think people definitely reward both creative art as well as potentially creative mechanics,” says Lui. “So you have to take some ownership to say, ‘hey, how do I think about everything holistically and not just what’s the visual?’ We’ve seen some interesting mechanics where artists produce more artwork, but to get this new collection you need to already have something in their previous collection.”
Lui explains some further examples: “You may actually need to burn an NFT, almost like sacrificing it, for the right to get an upgraded, new piece of art. There are even some like gamification for pure artists to get the community excited through the health of NFT; collectors care about art, but they also care about whether what they’re buying will appreciate or depreciate, so if you create the right environment for that, you can increase demand for your work over time.”
07. Don’t give up, see the bigger picture
Launching an NFT art collection takes time, effort and patience. Don’t get discouraged if things don’t take off right away. Keep creating, keep marketing and keep refining your approach. Lui explains how seeing the bigger picture of where this is going will help when things feel daunting.
“Just don’t give up. It’s still so early right now, but overall the NFT market is going to grow 1,000 times bigger in the next five to 10 years. So if you’re early right now and you’re trying to differentiate get out.”
Lui adds a little perspective: “There are not millions of NFT artists. Today there are a few 1000 good ones, and then fight to be with the 1000, and when the overall market grows in the next few years – can it will be a very, very powerful movement—the number of people who will care about you, who will know about you, and who will want to collect your art NFTs will grow. And of course, there are financial benefits as well.”
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