Forward-thinking and innovative brands are increasingly integrating NFTs, or non-fungible tokens, into their marketing strategies and are witnessing impressive results.
Take the example of Charmin, an American toilet paper brand. They posted a series of unique toilet paper-themed NFTs on Rarible, a popular marketplace for these digital assets. This illustrates how to make an nft in a creative way.
Astonishingly, the highest bid for one of these unusual art pieces was more than $2000, all within a short period, demonstrating the potential value and interest in these tokens.
Fast food giant Taco Bell also ventured into the NFT space, offering its whimsical ‘Transformative Taco’ NFT collection again on Rarible. In a spectacular demonstration of demand, the collection sold out entirely within just half an hour.
Moreover, numerous other iconic brands such as Asics, Adidas, Team GB, Coca-Cola, and Nike have also begun to explore the potential of NFTs. This shift is transforming the knowledge of how to create an NFT from a nice-to-have curiosity into a crucial skill for contemporary businesses.
How to create an NFT art
You don’t need extensive crypto knowledge. Here’s how to create NFT art:
Decide what you want to create and your business goal
If you don’t know where to start, you can begin by creating an NFT loyalty card or even a promotional code for your customers. You can also borrow a few NFT art ideas for inspiration.
Concentrate on delivering genuine advantages to your audience. For instance, you could offer NFT owners access to an exclusive club or a premium service.
If you can’t make your own art, hire a freelancer to create a piece of art for you.
Choose a blockchain for your NFT
The most common Blockchain for NFTs is Ethereum. Other popular blockchains that hold NFTs are Binance Smart Chain, Tron, Tezos, Polkadot, EOS, Litecoin, and Cosmos.
Some factors to consider before choosing a blockchain are:
- Transaction fees on a blockchain
- The types of cryptocurrencies your audience own since they’re your target buyers
Sign up for a crypto wallet
Each blockchain comes with a different NFT token standard which determines which wallet will be compatible. The Ethereum NFT token standard is ETH-721, while Binance Smart Chain’s is BEP-721.
With ETH-721, you can sign up for several wallets, including Coinbase, MetaMask, and Trust Wallets. For Binance Smart Chain, you can use wallets such as MetaMask and Binance Chain Wallet.
Top up your crypto wallet
When you’re creating an NFT, you may have to pay transaction fees, commonly known as ‘gas’ on the Ethereum blockchain. Load your wallet with supported crypto to cover these fees.
If you’re using the Coinbase wallet, you can buy cryptocurrency directly on Coinbase. If not, consider purchasing crypto on exchange platforms like Binance.US, Kraken, and Gemini.
At OpenSea, one of the biggest NFT marketplaces, you’ll pay one-time registration and contract approval fees. The platform doesn’t charge you to create an NFT collection and list it for sale.
Transaction costs will depend on your NFT blockchain. Fees on the Ethereum blockchain are usually high due to the number of people making transactions. Transact during weekends or choose a less-congested blockchain like Polkadot to save on gas.
Choose an appropriate NFT marketplace
There are various marketplaces where you can upload your art and create an NFT: here are a few:
| Blockchain | NFT Marketplaces |
|---|---|
| Polkadot | Xeno NFT Hub |
| Tezos | Rarible, Bazaar Market, OneOf |
| Ethereum | OpenSea, Mintable, Rarible, Foundation, SuperRare, Axie Marketplace, Nifty Gateway |
Connect your wallet on your NFT marketplace and upload your art
Using the OpenSea marketplace as an example, here’s how to create NFT art:
-
Visit the OpenSea website and click on the ‘profile’ icon as shown below:
-
Choose your wallet and connect it
After you click on the profile icon, you’ll get a prompt to connect your wallet, as shown in the image below:
Choose your wallet from the list and connect it.
-
Sign in and customize your profile
Once you’ve connected your wallet, your default name, ‘unnamed’ will appear to the left of your screen with your wallet address below it, as shown below:
Click ‘sign in’ on your right to update your profile by editing your username, email, image, and bio.
Once you’ve signed in, it’s time to add your NFT to the marketplace. Click the ‘create’ button to add a new collection.
-
Upload a file, name it, and add a description
After clicking ‘create,’ you will arrive at a page where you can upload a file, provide a name, and include a description. OpenSea mandates that you upload format-specific NFTs.
Source: OpenSea support
You can control various aspects of your NFT, such as the number of copies you can mint, your preferred blockchain, and whether to sell at a fixed price or go for an auction.
After you’ve customized your NFT, click ‘create,’ and your NFT will go live.
Source: OpenSea support
You’re then ready to start the process of selling your NFT!
Most Popular NFTs
While it may feel like NFTs have just exploded onto the scene, they are not a recent phenomenon. The first recorded NFT, Quantum, came into existence quite some time ago.
However, the NFT market really skyrocketed at one point, with Quantum eventually selling for a whopping $1.4 million during that time.
In terms of sheer sales numbers, the highest recorded NFT sale occurred when noted artist Pak astonished the digital art world by fetching an astounding $91.8 million for ‘The Merge,’ a piece of his artwork.
Beeple, another established artist, also made significant waves when his collection of 5000 digital images earned him a jaw-dropping $69 million at a Christie’s auction. This event drew widespread attention to how to make an NFT.
As interest in NFTs continues to grow, collections like Bored Ape Yacht Club, The Sandbox, and CryptoPunks frequently dominate the popularity charts based on sales volumes, demonstrating the diversity and breadth of fascination in this exciting new asset class while also highlighting how to make an nft.
Bored Ape Yacht Club, The Sandbox, and CryptoPunks ranked at the top of the list for the most popular NFTs based on sales volumes during a recent period.
What is an NFT and Why Spend Millions on NFTs?
NFT, standing for Non-Fungible Token, is a unique digital asset that is not exchangeable on a one-to-one basis with any other digital token.
This sets it apart from other cryptocurrencies, such as Bitcoin or Ethereum, which are fungible and can be exchanged on a like-for-like basis.
NFTs are a specific kind of digital asset residing on a blockchain, the same technology underlying most cryptocurrencies.
They can encompass a wide range of digital assets, such as images, music tracks, audio clips, videos, or even digital collectibles.
To acquire an NFT, buyers use the specific type of cryptocurrency that is supported by the blockchain on which the NFT exists.
For example, on the Ethereum blockchain, which is one of the most popular platforms for creating and trading NFTs, buyers would use Ethereum tokens to finalize a purchase.
The motivations driving the purchase of NFTs vary widely among buyers. Some are motivated by the prestige that comes from owning original digital works created by admired artists, influencers, or globally recognized brands.
This sense of ownership and uniqueness fuels the perceived value of these tokens.
Other buyers, however, see NFTs as a form of investment. They purchase and hold on to these unique tokens in the belief that their value will increase over time, potentially leading to significant future profits.
Why should you learn how to make an NFT?
NFTs can protect your business from business losses like the infamous $31 million coupon fraud. These tokens have unique identifying codes, making them counterfeit-proof. Brands are now shifting to NFT loyalty cards and promotional and discount codes in place of traditional ones.
You can also create NFTs and use the proceeds to:
- Raise funds for charity
- Create brand awareness and increase customer engagement
- Secure funding for expansion instead of taking an expensive bank loan
Integrating NFTs with Existing Marketing Strategies
Incorporating Non-Fungible Tokens (NFTs) into existing marketing strategies presents a unique opportunity for brands to innovate and engage with their audience in a novel way. Here’s how businesses can effectively integrate NFTs into their current marketing plans:
- Enhancing Brand Storytelling: NFTs can be used to deepen brand narratives and storytelling. For instance, a brand can create NFTs that represent key moments in its history or embody its core values. This not only creates a unique connection with the audience but also adds a layer of exclusivity and prestige to the brand’s story.
- Utilizing Limited Edition Releases: Brands can offer limited edition NFTs tied to popular products or events, introducing a digital collectible element to their range. This strategy generates excitement and urgency among consumers, enhancing engagement and potentially boosting demand for both the NFTs and their related physical products.
- Enhancing Customer Loyalty Programs: Integrate NFTs into existing loyalty programs by offering them exclusive rewards. For example, high-value customers could be given NFTs that provide special benefits or access to unique brand experiences. This approach adds a modern twist to loyalty programs and can enhance customer retention.
- Social Media Engagement: Use NFTs to drive social media campaigns by encouraging customers to share their NFTs online. Brands can also create interactive campaigns where customers can contribute to the design of an NFT, fostering community involvement and boosting online presence.
- Charity and CSR Initiatives: Link NFT sales to charitable causes or corporate social responsibility initiatives. This not only aids in brand positioning but also appeals to socially-conscious consumers. For example, a portion of the proceeds from NFT sales could be donated to a charity, aligning brand values with social good.
- Collaborative Projects with Artists and Influencers: Collaborate with artists and influencers to create unique NFTs. This collaboration can tap into the artist’s or influencer’s existing fan base, expanding the brand’s reach and appealing to a broader audience.
- Experiential Marketing: Offer NFTs that go beyond digital art to include real-world experiences, such as exclusive access to events, behind-the-scenes tours, or meet-and-greets. This can create a more holistic and immersive brand experience.
- Cross-Promotional Ventures: Partner with other brands or platforms to create co-branded NFTs. This can help reach new audiences and add an innovative layer to cross-promotional activities.
NFTs are the future for growth-seeking small businesses
ALSO READ:
Image: Depositphotos
The post originally appeared on following source : Source link