Steps to set up a successful NFT project.
“Before You jump into starting NFT project, you have to know and understand how NFT works. You should have basic understanding of nft before you venture into starting a project”
Non fungible tokens or NFTs got its recognition in 2021. Since then there have been a lot of NFT projects, which were successful while others didn’t succeed. So if you’re looking to start your own nft project, it requires self determination, encouragement and planning to launch nft project. Today I’ll tell you steps to create a successful nft project. Remember for every successful project you have to sacrifice time, money and energy to make these work.
But before we start let’s understand some basics of NFT in general
What is NFT?
NFT simply means non-fungible-token. What does that mean? It means it is a unique digital identifier that can not be copied, substituted or funged and it’s recorded on blockchain, its uniqueness is used to certify authenticity and ownership. NFT can be anything in data form such as picture, video, audio, text and other creative media. NFTs can be used for games, movies, cartoons and more. Nft enable data and objects on the internet to be valuable.
Steps to create successful nft projects Starting nft project is not something you decide after waking from sleep. There are many processes you need to consider regarding setting up NFT projects. It is not all about drawing art and waiting for people to buy it. You need to consider certain aspects. There are no hard and fast rules, but there are guidelines you can follow.
1. Reasons
Don’t center your NFT project as an avenue to make money because if you do trust me you will fail. You should consider some aspects such as
— Why are you starting an NFT project?
— What is the purpose of your NFT project?
— What utility are you offering to anyone that invest in your NFT project.
— What value your NFT project will add to the community.
— What makes your NFT Project so important?
If you think successful NFT projects are just pictures, I’m sorry to burst your bubble, you’re very wrong dear. Those questions are the things you should consider because you don’t expect anyone to buy your art without gaining anything in return. Utility is the reason why most collectors buy your NFT.
2. Choose your art
To start a successful NFT project you should have it in mind the type of art you are into. Are you an artist, musician or actor, what art are you good at or you want to center your nft project on. Should it be photographic, musical, painting or all aspects of arts. This will give people insight of the area your project focused on. Nft project is not something you plan within 2–3 days, it takes time before you figure it out.
3. Blockchain & marketplace
Blockchain here means network. What network do you want your NFT project to be on? Ethereum is the most popular blockchain and ethereum community is the largest community based onNFTs, Defi’s and DAOs. There are other blockchains your project can be on such as polygon, solana, binance smart chain, cosmos and more.
Likewise marketplace, there are different marketplaces where you want people to go and buy you nft collections. You have to decide which marketplace people will find your nft collection if they want to buy, some popular marketplace include OpenSea, foundation, rarible, binance or you can even create your own marketplace.
4. Roadmap
A road map is a map that describes or gives people direction of where you’re going to with your project. It lets people know where your project is going and where it is. A successful project needs a roadmap to guide people on your project. This will let investors see the future of your project whether to invest in your project.
5. Social platforms
You need a platform to invite and tell people about your project. Social platform where people will go if they want to find out more about your project. Social platforms like Twitter, Instagram, telegram, Facebook page and more,this platform will also help you gather your community.
6. Build a community
You need active and interactive community if you want to start a successful nft project. Project without community will not work. You have to gather up group of people that are interested in your project and setup up a community so you will take this group of people along with you so they will have full understanding of your project. Anyone that needs help or want to ask questions will do that in your community and they will get the answer they’re looking, and if anyone want to work with you or collaborate with you they will do that by getting access to your community. A good place to set up community is on discord.
7. Utility & value
What utility and value is your NFT project offering to owner. This is one of the most important parts of your NFT project you should consider. People will become interested in your project if they notice they will gain something or get access to certain things if they buy your NFT. What value will your NFT project bring to the community and what will be my gain if I buy this NFT. You should consider adding utility to your project if you really want your NFT project to be successful.
8. Smart contract
You should also consider adding smart contracts to your project because it will make your project transparent and save you a lot of time and energy. Smart contracts show evidence of your promise, it provides proof that you’re providing those utility and values your nft project carry with you cheating, that’s the work of smart contract.
9. Support other projects
If you want to launch a successful nft project, you have to support other projects so they will give you back the same support to your project. Supporting and encouraging other projects will make them support and sometimes might want to collaborate with you. You will also get to learn new ideas then apply them to your project.
If you have any question related to this topic don’t hesitate to ask, follow this page and follow me on twitter @CryptoBaldBoi and join my discord https://discord.gg/pV6gStME9P
