We all know about influencer marketing and how it can be used to market products and services. With consumers growing weary of banner ads and other ad formats published on digital channels, influencer marketing has become an effective way for brands to market their products and tell their brand stories. One new line of product that can be marketed successfully through influencers is NFTs.
NFTs are set to become the next big thing, and the right marketing strategy is the secret for a successful launch. For entrepreneurs in saturated crypto markets, influencer marketing could be the answer.
This NFT influencer marketing blog explains how you can leverage NFT influencers to generate massive interest in your product. Let’s get started!
What Is An NFT?
NFT is a non-fungible token. It represents a digital collector’s item such as an original piece of art, meme, or music that can only be bought using cryptocurrency. NFTs have a unique code and can’t be replaced, instead of fungible assets like dollar bills and Bitcoin, which have value and can be traded for another unit. And because each NFT is unique, it can be used to authenticate the ownership of digital properties such as artwork, recordings, virtual real estate products, and even digital pets. These assets are part of the blockchain, mainly Ethereum. The code is what makes the piece valuable, particularly during encryption.
The popularity of NFTs has been growing steadily, with the blockbuster sale of Beeple’s artwork one of the recent highlights. In February 2021, a digital artist named Beeple (real name Mike Winkelmann) created a 10-second video and sold it to Pablo Rodriguez, a Miami-based art collector, for $67,000. Pablo resold it in the secondary market for a whopping $6.6 million.
Figure 1: Beeple’s artwork sale. Source – Twitter
Spending such enormous sums for the asset shows just how popular NFTs have become for a video that can be easily accessed online for free. The video was authenticated by blockchain, which acts as the digital signature to show who owns it and prove it is the original work.
Why DO NFTs Need Influencers For Marketing?
The primary purpose of influencers in the NFT marketing space is to create organic engagement by educating your audience about your digital assets. Modern consumers have shown great interest in buying the products advertised by their favorite influencers on social media. These influencers already have an engaged audience for their content. The audiences look past the ‘Ad’ or ‘Paid Promotion’ tag and trust the influencer. Brands can leverage this influence to attract audiences, eyeballs, and investors.
27% of millennials already invest in NFTs, and the number is set to grow. As such, leveraging the audiences of NFT influencers will expand your project’s exposure. Brands can get the right influencers to partner with on almost any social platform, but Twitter, Instagram, YouTube, and blogs have the best NFT influencers for hire. Keep in mind that you will have to compensate the NFT influencers to promote your project.
How To Market NFTs
The rising popularity of NFTs makes marketing them a top priority for brands with unique digital assets to sell. Marketing trends may have evolved over the years, forcing marketers to think carefully of the best strategies to promote their products to the right audience. Below, we share the best ways to market NFTs.
Focus on video content
When it comes to NFT marketing, the best format for your marketing content is video. Videos are interactive and have a much higher probability of attracting followers, mainly as NFTs are predominantly art. It’s also easier to understand content when delivered as a video than other content formats such as text. By putting more emphasis on video content, you will clearly explain what your project entails, thus generating more interest for your digital items.
YouTube is the top platform for distributing video content. Create a channel on the platform and populate it with relevant content about your project. To boost your reach, make sure to repost your video content on other platforms like Instagram and Twitter.
Combine entertainment with information
While engaging your audience, always remember to provide informative data about the NFT as the audience base here is knowledgeable and curious. Don’t focus so much on entertaining your users that you forget to educate them on the essential issues about your project. The NFT influencers 2022 you are working with should be very knowledgeable on crypto and NFTs to ensure they can respond appropriately to the questions the audience may have when promoting your product. The influencer can choose to host a live Q&A session and invite interested users to ask their questions about your product.
Build a sense of community
A crucial aspect of the crypto world and NFT is the feeling of exclusivity among patrons. This needs to be maintained by building a niche community while marketing NFT. Create a private group for general discussions and sharing important updates with the members. Invite the members to give their views on the issues posed in the forum. These discussions will help you connect with your audience and understand them better.
Finding The Right Influencers To Market NFTs
Influencers are valuable assets for NFT marketing because appropriate ones will help you effectively reach your target users. Partnering with the right influencer will improve your reach and boost your follower count overnight, even on a tight budget. Here’s how to find the right influencers to promote your NFT.
Identify the platforms where you want to run your campaigns and look for NFT enthusiasts with a decent following. The influencer you choose needs to appeal to the fan base of the crypto brand – especially on each platform. If it’s Instagram, look for the best NFT influencers on Instagram who can promote your product to the right users. Check their stats and how they interact with their audience. Once you identify potential NFT influencers to follow, monitor them daily to ensure their content is authentic, engaging, and in line with your brand values.
Another useful strategy that will help you find the best influencers for your project is social listening. Social listening will help you understand the industry insights and use them to your advantage. The insights from knowing the industry inside out will come in handy during the campaign planning stage. Be it a celebrity or nano-influencer; the goal is to understand what your audience is looking for.
Based on price
Based on the projected ROI of your campaign and the desired engagement, brands can choose influencers to help promote their NFTs. The compensation for influencers varies, and you need to consider this when looking for content creators for your NFT project. As a general rule, established influencers are more expensive than smaller ones. Some of the top influencers are usually represented by an NFT influencer marketing agency, which further affects their pricing.
Review what the influencer asks against your projected ROI to determine if the creator is suitable for your campaign. If the influencer is too expensive and cannot be persuaded to reduce their price, let them go and continue your search for the right NFT influencer.
Based on budget
It’s important to set a budget for your NFT influencer marketing campaign. Your projected ROI for the influencer campaign will determine how much you set aside for the campaign. The lower the budget, the more research is required to find suitable NFT influencers for your campaign. Optimize your budget on the latest trends and pivot with the messaging of the NFT influencer marketing campaign.
The possibilities are endless when it comes to NFTs. With the blockbuster sales being reported lately, it doesn’t seem like the NFT craze will die anytime soon. As NFTs, cryptocurrencies, and digital assets become more mainstream, NFT developers and sellers will need a plan to stand out from the competition. With the right NFT influencer marketing plan and a little bit of patience, you will successfully promote your product and build an audience.
If you are ready to start selling NFTs, Atisfyreach can be your ally in finding the best influencers to collaborate with. The platform uses Artificial Intelligence to connect you with the best-fit influencers for your brand. You can manage your campaigns from a single dashboard and eliminate all the confusion with contracts and tracking campaign effectiveness.
Register your interest today!