How to leverage the Blockchain-Ads Advertising Protocol for your NFT Project (Guide)
As more and more Web3 Projects Alpha test our Advertising protocol, we will publish a guide of best practices and strategies based on historical data. Over 20 NFT projects have used Blockchain-Ads for marketing and advertising. While they all achieved a certain degree of success, it’s definitely safe to say that if they (and we) went back in time with the knowledge we have today, we would have achieved the same results in a shorter time and with less ad spend. Today we want to share some of this knowledge to help you achieve outstanding results even quicker. Our experience confirms that, no matter the state of the market, NFTs will always sell if they have real value.
Phase 1: Community — Do not Gatekeep!
An NFT is not just a JPG. You do not download it from Google Images, you own it. For this reason, you need to give users a reason why they should want to become owners of your NFTs. Without this key factor, it’s easy for users to download a similar picture from the Internet. Here comes the need for community. A 1996 Charizard Pokemon Trading Card costs a fortune because everybody knows what it is and how rare it truly is. How many of the current collectors of the Charizard NFT cards actually played the Pokemon Trading Card game 26 years ago? Probably not too many. This is why we recommend building the community using wide targeting, reaching a few tens of thousands of active users before starting any kind of sales activity. As the community grows, you will see certain trends happening within it, like certain projects being mentioned repeatedly, frequently asked questions, etc… Build your target profile around what the community tells you, not what you want your community to be. 95% of your users will never buy anything from you. Those users are there to validate your project and to make the other 5% want to buy your NFTs.
Phase 2 Ticketing — Keeping it exclusive
Shifting the Ads’ call to action from “buy NFTs” to “Apply for Waitlist” increases ROI from Ad Campaigns tremendously. This is because of basic human psychology. People browse shopping channels and websites all day but they hardly ever buy anything. However, when you present them with a unique, limited time opportunity, the fear of missing out kicks in. This is why NFT waitlists are so prevalent: you can decide to buy or not to buy an NFT right now, but you may not get the chance to buy that same NFT again for the same price, or possibly at all! Make your community do some work and have them earn a spot on your waitlist. Additionally, make sure your waitlist is over-saturated so that the collection will sell out quickly and you will immediately have a buy wall for a second round. NFT collectors love exclusivity.
Phase 3: Auction — Keep building
Mint day is approaching, should you shift your Ads to direct sale? Yes and no. While your mint day’s goal is to sell out, you don’t want to open up sales for everyone and kill the exclusivity factor. Instead, advertise how well the project is doing, how quickly the waitlist filled up and what’s next for your project. Remember: Blockchain-Ads has a built-in Wallet Targeting feature that allows you to focus your ad spend towards users who already hold enough token to buy your NFTs. This will remove the arduous task of attracting users who will need to swap in order to buy. Some of the projects who have advertised with Blockchain-Ads over-saturated their waitlist and were able to sell out on mint day. The first collection is your proof of concept. Once this has proven to be successful, your community will desire subsequent collections and enable the further development of your NFT project.
Do you wish to leverage Blockchain-Ads experience and Wallet Targeting technology to make your NFT project successful? You can contact our team at https://t.me/the_blockchain_ads.