Non-fungible tokens (NFT) are blockchain-linked representative tokens for unique pieces of digital content. The system is frequently used nowadays to sell, trade, and collect unique digitized items that hold artistic, novelty, and/or collector’s value to interested parties. NFTs can be photographic images, videos, GIFs, digital/digitized art, digital trading cards, in-game gear, and specific virtual assets of any kind. In this post, we will discuss why it is essential to promote an NFT, as well as why you may want to do so in the first place.
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Rare Non-Fungible Tokens are Often Sold for Millions
Note that non-fungible tokens do not hold a calculable monetary value because they are not cryptocurrencies like Bitcoin or Litecoin. NFTs are certifiable tokens that were created using blockchain technology for unique digital collectibles/products/artworks. Nevertheless, NFTs can potentially or eventually become tokens of immense monetary value within the right circles.
For example, at a Christie’s Auction in March 2021, an artwork of 5,000 collaged images by Mike Winkelmann, aka Beeple was sold as a non-fungible token for almost $69.35 million! What makes the huge sum even more amazing is that this was only the world’s first artwork NFT to be sold. Later in the same month, Jack Dorsey, the CEO of Twitter sold the first tweet ever as a collectible NFT for $2.9 million. Earlier in March 2021, someone bought a unique Nyan Cat GIF from 2011 for $600,000.
Finding the Customer Could Feel Impossible without Niche Promotions
Despite the potential of an NFT to be sold for hundreds of thousands, if not millions of dollars, that’s just the best-case scenario. Not every piece of NFT collectible is sold for huge sums after all, and some are not even sold, despite them possessing genuinely incredible collector’s value. The main issue with selling non-fungible tokens is that they are not currencies and, therefore, they cannot be traded as such. In order to find the best price for your token, you need to find the right customer base first, which is not easy.
If we take the Nyan Cat GIF NFT, for example, which was sold for about $600,000 last year, it would be easier to explain. Firstly, the number of people who would be even capable of paying such a huge sum for a single GIF is very small. That list of potential customers will become even shorter if we were to further filter it down to collectors who are both financially capable and interested in that niche. This brings us to the main question: how will you even find and connect with your customer base to sell the NFT for a deservedly high price?
The Critical Role of an NFT Marketing Agency
This is precisely where the services of an NFT marketing agency come in. They help artists, sellers, collectors, and patrons find each other by promoting the right non-fungible token to the right customers. They handle everything from NFT setup and PR promotions to launching personalized digital marketing campaigns that raise awareness about an NFT’s true value within the select list of interested parties.
It should be obvious by now that if you own or create an NFT that holds or can come to hold any perceivable collector’s/patron’s value, that single NFT can theoretically be more precious than a dozen bitcoins. So, now we know why anyone would want to create, promote, sell, or buy a non-fungible token, as well as how to go about the difficult task.
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