Anyone can sell an NFT and get rich quick! If you are reading this because you have minted an NFT on Opensea, Rarible, or one of the other platforms and you don’t know if anyone is even seeing your NFT? Or you are getting views and no one is buying? Then, you have come to the right place. You are not alone. This is the same predicament that about 99% of people engaged in NFTs are in. This isn’t an issue solely plaguing NFT marketplaces, this is a common problem for any consumer aggregated content platform.
“Those who will win must be creative, talented, will build value into their NFT offerings, and will get in the market early.”
The good news is we have battled these issues in the entertainment industry for our clients for over 30 years, and now with NFTs. We know how to craft solutions.
The Music Industry Parallel.
Think about the parallels with the music industry. Initially, with brick and mortar retail there were about 30,000 SKUs in a mid-sized music store. How did an artist stand out in those music stores to get people who had never heard of them to buy their music? It is called marketing. The labels started paying co-op money to the outlets to have their CDs on end-caps, then on listening stations as they realized music needed to be heard to drive demand. You didn’t get these spots for free you paid the store or account for these placements. If you think it’s bullshit that people should have to pay to stand out from the crowd then you are being very naïve. When it comes to the world of business when there is high demand for something and low availability that drives the cost up to a premium.
When music went digital and everyone had a record store in their pocket “iTunes” it was celebrated as the end to the tyrannical domination by major labels and hailed as a new curated ‘based on talent’ level playing field, although that was never the case. And, that didn’t last for long. Once the major labels committed to having their music on iTunes they also started paying for placement in the digital space. Open iTunes and you will see the music that Apple wants you to see that day.
The same thing exists in the food and beverage business when you’re in your local supermarket store every shelf space and every aisle and every end cap is paid for in one way or another with the trade promotion management dollars from the manufacturer.
NFT “All Skate” Portals
You are in the wading pool of NFTs not comprehending how many there are on each of these platforms and how many more are being added every minute every hour every day vying for attention. If you think it’s hard to be found now give it another six months or a year.
The All Skate Philosophy hasn’t produced greater art, it has diluted it. Just owning the equipment and being able to produce a finished product doesn’t make you a professional.
The same dynamic persists for musicians, filmmakers, writers, poets, artists, anyone who is creative. How do you stand out and rise above the crowd? Hard work, diligence, investment tied to a plan is why they become hugely successful. Gwen Stefani was asked, “How does it feel to be an overnight success?” she answered, “If 12 years on the road playing every gig we could makes me an overnight success, then yeah.” I am paraphrasing here but you get the point, you have to do the right hard work.
You need a marketing plan with a strategy to stand out from the crowd, to drive targeted prospects who may be buyers of your NFT. Hoping the right buyer will stumble over them on a platform with 1 million other NFTs is something you need to think through, how likely is that? Don’t fall for all the fairytales about people just putting up an NFT and getting rich quick, the reality is vastly different.
If you are just testing the crypto-waters and you just have one NFT then it is time for you to bounce somewhere else, GCG is not for you. Here is a dose of reality for some of you, you are not going to get anyone to buy your NFT! For you sadly this is probably going to be an experience, good or bad, but a waste of money.
Continue reading only if you feel you are one of the select few who can make it to the next level.
First things first, you need to be thinking long-term. You need a plan, a strategy, and people to execute it for you. You need to be looking at what you do as a brand, meaning it is supported by many other verticals in your creative world and does more than just mint an NFT on the blockchain. You need to be thinking of the value that your NFT provides to buyers.
We can help you do this. We guide our brand clients who are serious about having a future in the world of Non-Fungible Tokens.
If you are interested in a consultation for representation, fill out the form below and we look forward to talking with you.