The Ultimate Guide to NFT Marketing and Promotion
Sergey Baloyan
Entrepreneur, X10.Agency Founder
Check out my previous articles at HackerNoon:
NFT tokens are becoming more and more popular. The ability to create, sell and exchange various digital items, art objects, game artifacts, and other things attracts a large number of collectors and traders, as well as projects, artists, and developers working in this field. For example, the NFT market on Ethereum grew 10 times in January 2021.
Many people associate the Non Fungible Tokens trend with the general DeFi trend. Indeed, many crypto enthusiasts and DeFi adepts are actively interested in this space. I am sure that this trend will only grow, and NFT will find a large number of different use cases. NFT is something that will probably change more than one industry and how we interact with many things in the virtual and real world.
I've already written about what NFT is and how to issue your NFT tokens. Let's say you created your own NFT project. Today I want to talk in detail about how to conduct a promotion and marketing company for your NFT project, how to make the world hear and be interested in your Non Fungible Tokens.
I work with a large number of projects, and I see some patterns and necessary things that I want to share.
I've already written about what NFT is and how to issue your NFT tokens. Let's say you created your own NFT project. Today I want to talk in detail about how to conduct a promotion and marketing company for your NFT project, how to make the world hear and be interested in your Non Fungible Tokens.
I work with a large number of projects, and I see some patterns and necessary things that I want to share.
1. NFT idea and implementation
As a basis, we will take the fact that you have a strong and interesting idea and its implementation. We will not dwell on this further and will assume that by default your project is worthy of mass attention in all parameters, including technical implementation, good documentation and presentation, website, and other necessary documents, depending on the project.
2. Community for NFT projects
For most crypto projects, the community is a vital thing. NFT is no exception. Your primary community is the people who will support you, spread the word about you, invest in you, and buy your NFTs.
Let's talk about how to build an initial community.
Let's talk about how to build an initial community.
SMM for NFT
Be sure to work on your social networks. It would be ideal to conduct them in such a style that some posts become viral. NFT is not only about people who are well versed in crypto, but also for a general audience. It would be good to introduce explanatory posts so that people understand why they have to pay something for some digital image/piece and what its real value is. As a standard, we advise our clients to manage: Facebook, Twitter, Medium, Reddit, LinkedIn (optional as a corporate page)
Telegram and Discord chats for NFT community
If Telegram is already an established communication channel for the crypto project community, then Discord becomes an excellent alternative. It is convenient to create different chats within the same channel, which is definitely a huge plus. Moreover, the NFT industry is very similar to the gaming industry, for which Discord was created.
Nevertheless, Telegram remains the 'number one' platform in terms of the number of crypto users. Therefore, we still recommend creating both channels, starting with Telegram (but in some cases, choosing Discord first is also justified). Make sure that the team that communicates in the chat from the project is competent, polite, knows the project well, works on the FAQ, and responds to questions and feedback in time. Often, users perceive the support team as the face of the project.
Community Engagement for NFT
We always advise you to create a buzz around yourself on various platforms - this is useful not only for promotion but also for getting adequate feedback from the community. It's good if you have multiple accounts on BitcoinTalk, Reddit, Telegram, Twitter, and so on. Do not forget that you should not spread spam and flood, and in those dialogues where it is relevant, mention your project and ask the community's opinion about it. Often, such a strategy, in addition to a fresh look, can also bring new participants to the community.
In general, all the other promotion methods described below are also working to increase the community in one way or another, but I have singled them out separately because they are also responsible for other tasks.
3. NFT Marketplaces and listings
There are already marketplaces where various NFT projects can sell their ideas and tokens. They are diverse, so try to choose the ones that will fit (if they do) under the features of your project.
Among the largest NFT marketplaces, for example:
- OpenSea
- SuperRare
- Rarible
- Makers Place
Learn which of the marketplaces you might like or create your own. In the second option, do not forget to place your own marketplace in various lists of NFT marketplaces and projects.
- OpenSea
- SuperRare
- Rarible
- Makers Place
Learn which of the marketplaces you might like or create your own. In the second option, do not forget to place your own marketplace in various lists of NFT marketplaces and projects.
4. Interface. Collaborations
A little tip: try to make the most convenient and functional interface through which the user will buy and sell your NFT. For this purpose, for example, I have a special UX/UI specialist in my team who evaluates the usability of a particular service of our clients. Ideally, even a user far from crypto should understand how to simply buy and sell, without understanding the features of ERC-721 or other standards, blockchains and everything related. A good example is how the FLOW project did in its NBA Top Shot.
What is also remarkable about FLOW is high-profile collaborations: for example, the NBA and the UFC. Most of the collectors, even perhaps, do not yet know that they buy NFT. This is a very successful onboarding.
5. AMA sessions for NFT
AMA sessions work very well. They help to introduce the community to the project, to understand the concept more deeply, to see the project leaders and executives, how they respond, what their plans are.
First, you should hold AMA sessions in large Telegram chats and YouTube channels to attract new users to yourself. Then, to do internal AMAs inside your community in Telegram and Discord.
A little tip: don't forget to prepare interesting rewards for the community, so that the AMA process is more engaging and more people participate (and also there are more ways to promote such AMAs).
First, you should hold AMA sessions in large Telegram chats and YouTube channels to attract new users to yourself. Then, to do internal AMAs inside your community in Telegram and Discord.
A little tip: don't forget to prepare interesting rewards for the community, so that the AMA process is more engaging and more people participate (and also there are more ways to promote such AMAs).
6. Influencers (KOL) for NFT
Advertising with opinion leaders and influencers is important, but it does not always bring instant results. Often, the audience of an influencer needs to hear about you somewhere else (especially if it's before he talks about you) before becoming part of your community. Sometimes the influencer itself does not bring a lot of new audiences, but for the old one, it is a plus - that opinion leader speaks about the project that they follow. Always try to find the best option between the price that the influencer asks and the number of views/comments under his video. In general, this tool will not be superfluous.
7. PR for NFT
Of course, the more media writes about you, the better. Try to get into different publications and in different formats - from full articles about your project to mentions among others, interviews, and quotes. In addition to crypto media, you can also work with general media, depending on the specifics of the project. Well, you should not expect instant results either. This is rather a necessary measure to maintain the reputation, and only then to attract a new additional community.
8. Banners for NFT
For some projects, banner advertising works great. You can place banners on large sites like CoinTelegraph, CoinGecko, and so on, as well as on more niche sites dedicated to NFT. This is not a primary measure, but if there is an additional budget, then at least try it.
Conclusion
You can also come up with more individual and non-standard ways of promotion for NFT projects, but everything depends on the specifics of a particular project.
However, as we said at the beginning, it is possible that Non Fungible Tokens will change entire industries. Therefore, if you have chosen such a path for yourself, let as many people as possible know about it!
In the meantime, if you have any questions about NFT or you are an NFT / DeFi / crypto project and want to know more how to promote you project, you can always contact me via Telegram (@baloyan) or LinkedIn.
However, as we said at the beginning, it is possible that Non Fungible Tokens will change entire industries. Therefore, if you have chosen such a path for yourself, let as many people as possible know about it!
In the meantime, if you have any questions about NFT or you are an NFT / DeFi / crypto project and want to know more how to promote you project, you can always contact me via Telegram (@baloyan) or LinkedIn.
How China's New National Cryptocurrency Changes Everything
Sergey Baloyan
Entrepreneur, X10.Agency Founder
China is launching a national cryptocurrency. In this article, we'll tell you what information is already known about the project at the moment as well as how it may change the financial world.
A bit of History
In October 2019, Chairman of the People's Republic of China, Xi Jinping, said that the development of blockchain technology is one of the priorities of the state and called for accelerated growth of the industry. By that time, it was already known that China had been developing its own cryptocurrency since 2014.
News about this periodically surfaced, although most crypto enthusiasts know China more for their strict regulatory actions — significant restrictions on cryptocurrency investment, the inclusion of mining in the preliminary stop-list of industries that should be banned, closure of blockchain conferences by the police, and so on.
Much has changed since Facebook published their initial plans for Libra. The prospect of a private company with 2.3 billion users worldwide issuing its own currency made the idea much more real to governments around the world.
China took it as an incentive. First of all, to compete with the dollar in the digital payments market and, ultimately, to change the entire global financial system.
Looking at the example of China and understanding what the future may hold, many other countries have announced the development of their own CBDCs (Central Bank Digital Currencies). For example, central banks for the European Union, South Korea, Russia, Sweden and a number of other countries have announced their own developments in the field of state cryptocurrencies.
News about this periodically surfaced, although most crypto enthusiasts know China more for their strict regulatory actions — significant restrictions on cryptocurrency investment, the inclusion of mining in the preliminary stop-list of industries that should be banned, closure of blockchain conferences by the police, and so on.
Much has changed since Facebook published their initial plans for Libra. The prospect of a private company with 2.3 billion users worldwide issuing its own currency made the idea much more real to governments around the world.
China took it as an incentive. First of all, to compete with the dollar in the digital payments market and, ultimately, to change the entire global financial system.
Looking at the example of China and understanding what the future may hold, many other countries have announced the development of their own CBDCs (Central Bank Digital Currencies). For example, central banks for the European Union, South Korea, Russia, Sweden and a number of other countries have announced their own developments in the field of state cryptocurrencies.
In April 2020, screenshots of the first version of the digital yuan application appeared online. According to preliminary data, the tests began among the "white list" of clients of the Agricultural Bank of China (the 7th bank in the world in terms of net profit) in four pilot regions: Shenzhen, Hong Kong, Chengdu, and Suzhou. In April, Suzhou enterprises even intend to pay 50% of transport subsidies to local workers in the new digital currency.
A couple of weeks ago, it became known that on April 25, 2020, China will launch its national blockchain platform called BSN (Blockchain Service Network). Many believe this is the first, fundamental step before the launch of a global financial project - a government-backed cryptocurrency called DC/EP. And it seems that the country is taking this initiative more seriously than ever before.
Based on the screenshots that appeared online recently, it is clear that the crypto-yuan will be launched soon enough. More and more experts are saying that this could change the entire global financial system. So, what is known at the moment and what conclusions can be drawn from it?
Based on the screenshots that appeared online recently, it is clear that the crypto-yuan will be launched soon enough. More and more experts are saying that this could change the entire global financial system. So, what is known at the moment and what conclusions can be drawn from it?
Reviewing the BSN screenshots
Several basic functions can be seen in the screenshots, and the interface is very similar to other Chinese payment platforms such as Alipay and WeChat Pay. Also, according to various statements of officials, it is already possible to understand many features and functions of the future cryptocurrency. I tried to gather all the information from different sources together.
So, what is known at the moment about the crypto yuan?
A list of all the important facts about the digital yuan:
Is this the beginning of a new financial era?
As can be seen from the information currently available, DC/EP is not the classic concept of a decentralized cryptocurrency like Bitcoin. The users themselves are unlikely to feel a significant difference in using the new system compared to WeChat Pay or AliPay. For the government, the blockchain data structure will ensure unprecedented traceability and control.
It is important to note the advantage China can gain by being the first to release a government backed digital currency at scale. Meanwhile, competing projects like Libra and Ton have been held back and forced to change by regulators.
Today, China is the second economy in the world and the least dependent on oil prices. While there's no doubt that the dollar reigns supreme today, the digital yuan is China's best chance to compete with the dollar on the global scale in the years ahead.
There is no doubt that other governments will quickly follow China's example. Perhaps we are entering a new era — the end of physical cash and the emergence of central bank cryptocurrencies. And there is a strong possibility that this will completely change the international monetary system as we know it.
To get more thoughts and insides about crypto industry you can follow my LinkedIn , Medium , Twitter
Today, China is the second economy in the world and the least dependent on oil prices. While there's no doubt that the dollar reigns supreme today, the digital yuan is China's best chance to compete with the dollar on the global scale in the years ahead.
There is no doubt that other governments will quickly follow China's example. Perhaps we are entering a new era — the end of physical cash and the emergence of central bank cryptocurrencies. And there is a strong possibility that this will completely change the international monetary system as we know it.
To get more thoughts and insides about crypto industry you can follow my LinkedIn , Medium , Twitter
• The Chinese cryptographic currency will be called DC/EP, which stands for Digital Currency Electronic Payment.
• The Central Bank has not yet officially confirmed the schedule for the introduction of the digital yuan, but many sources talk about a full launch in mid-2021.
• Besides the standard ability to receive and send payments, one of the main functions is called 'touch and touch' - it allows two people to simply touch their mobile phones to make a transfer.
• Transfers can be made without an internet connection on devices with NFC technology or Bluetooth. Offline transactions are likely to be saved and accounted for whenever the users next get online. But so far not much is known specifically about the settlement mechanism.
• Familiar features such as transfer by account number as well as generation and scanning of QR codes can already be seen on screens.
• The BSN payment system can process up to 300,000 transactions per second.
• The Chinese cryptocurrency is suitable for any financial operations because of its high throughput, including traditional retail transactions and even micropayments.
• Obviously, the crypto yuan blockchain will be centralized.
• Interestingly, the currency will not only work on the blockchain — it will be issued in two main stages: from the Central Bank to commercial banks, and from commercial banks it will already be put into circulation.
• Banks and organizations will be able to act as DC/EP issuers who can exchange the digital yuan with other fiat currencies and assets.
• Patents also indicate that DC/EP will use a two-tier architecture that allows licensed third-party payment institutions and banks to participate in the secondary issuance of digital currency.
• It appears that Alipay itself will participate in the implementation of this scheme.
• All organizations licensed to participate in the DC/EP issue will have a reserve account with the People's Bank of China.
• China also sees its own cryptocurrency as a means of counteracting new digital currencies. According to the Central Bank, a domestically issued digital currency, supported by the government and expressed in the national unit of account, can help limit the issue of private currencies and reduce the risks of financial instability.
• According to China's plan, the crypto yuan will significantly expand financial infrastructure availability in the country. At the same time, as an international means of exchange, it could improve the efficiency of cross-border payments.
• Many sources say that on March 24, the Bank of China completed the development of basic functions and began drafting laws to implement the new technology nationwide.
• One of the main challenges for the Government is to ensure that the crypto yuan enjoys the same sovereignty as the fiat yuan. Strong liquidity guarantees are promised to its holders.
• The central bank said that DC/EP is also planned to be widely used during the 2022 Olympic Games to be held in Beijing.
• The Central Bank has not yet officially confirmed the schedule for the introduction of the digital yuan, but many sources talk about a full launch in mid-2021.
• Besides the standard ability to receive and send payments, one of the main functions is called 'touch and touch' - it allows two people to simply touch their mobile phones to make a transfer.
• Transfers can be made without an internet connection on devices with NFC technology or Bluetooth. Offline transactions are likely to be saved and accounted for whenever the users next get online. But so far not much is known specifically about the settlement mechanism.
• Familiar features such as transfer by account number as well as generation and scanning of QR codes can already be seen on screens.
• The BSN payment system can process up to 300,000 transactions per second.
• The Chinese cryptocurrency is suitable for any financial operations because of its high throughput, including traditional retail transactions and even micropayments.
• Obviously, the crypto yuan blockchain will be centralized.
• Interestingly, the currency will not only work on the blockchain — it will be issued in two main stages: from the Central Bank to commercial banks, and from commercial banks it will already be put into circulation.
• Banks and organizations will be able to act as DC/EP issuers who can exchange the digital yuan with other fiat currencies and assets.
• Patents also indicate that DC/EP will use a two-tier architecture that allows licensed third-party payment institutions and banks to participate in the secondary issuance of digital currency.
• It appears that Alipay itself will participate in the implementation of this scheme.
• All organizations licensed to participate in the DC/EP issue will have a reserve account with the People's Bank of China.
• China also sees its own cryptocurrency as a means of counteracting new digital currencies. According to the Central Bank, a domestically issued digital currency, supported by the government and expressed in the national unit of account, can help limit the issue of private currencies and reduce the risks of financial instability.
• According to China's plan, the crypto yuan will significantly expand financial infrastructure availability in the country. At the same time, as an international means of exchange, it could improve the efficiency of cross-border payments.
• Many sources say that on March 24, the Bank of China completed the development of basic functions and began drafting laws to implement the new technology nationwide.
• One of the main challenges for the Government is to ensure that the crypto yuan enjoys the same sovereignty as the fiat yuan. Strong liquidity guarantees are promised to its holders.
• The central bank said that DC/EP is also planned to be widely used during the 2022 Olympic Games to be held in Beijing.
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