If you are a creator in NFT space, then you can relate what I am about to write now.

Now bear with me what I am going to tell you, it might hit you on the face.

The NFT space has been gone on super hype recently. The Artists and Creators are all trying to get on this wagon.

Foundation.App is one of the famous NFT platform, This as of writing have close to 25,000+ artists and creators on their waiting list, being ready to list their NFTs to the world. Hoping someone would own their NFTs. (I am taking this example since I am running a Foundation App Invite train and witnessed at-least 100 NFTs launched on this platform over the last few weeks.)

screenshot from https://foundation.app/upvote

But let me tell you the brutal and ground reality!

Only about 36% or less are being sold!

Source: fnd.info (the site is not updated for some reason, but last 7 day data will give a frame of reference). The GMV is worth mentioning as well.

My estimate would be it would be even under 20% or even far less.

So what happens to the 80% of the NFTs listed? It will die as no one ever notice.

Getting an invite to Foundation is hard. Foundation selects top 50 every week using Community upvote from among 25,000 each week.(PS: I run an invite train which might speed things up via peer invites, you can read more here)

But the harsh reality is that Getting a sale on Foundation is super hard!. Like super super hard based on the real data above.

Same goes to every other NFT Platforms out there, it would more or less the same percentage.

We have discussed the problem so far? What’s the solution?

So how can you be in the Top 20%? How can you guarantee that you win a sale and thrive on Foundation or any NFT platforms? Yes, Ask me the right questions!

It’s all about the Relationships

Yes. If you have a great relationship with your potential collectors, you are more likely to make a sale. Even if you have millions of followers, only about 1 or 2 would be ultimately bidding on your project. This could be due to various reasons, could be the lack of knowledge, awareness and so on.

Having 1:1 true relationship with your potential buyer is a key. Use the trello board attached at end.

On the Front page

The NFTs you listed could be easily buried away as there are at least 500–600 of NFTs being listed each day. I’ve witnessed that a being on Front Page of these platforms do make a difference (not always, I will write more on this in next posts). See if you can have a friend or someone to bid you up which could help you on the Front page, potentially helping to find buyers for your NFT.

Getting Rich Quick

If your motivation is getting rich quick, I might have to stop you there. Some creators just list for 100ETH or similar expecting some rich folks would bid on their works. It doesn’t work. Start small and build your way up unless you have rich friends to fund you;)

Foot on the door

Ideally list your First few NFTs with minimum(0.1ETH or closer), and set your expectations right. Have a clear clarity and increase the chances of winning. As you navigate, make sales, slowly and steadily build your empire on it. Don’t overdo.

WHY?

Ask yourself why should someone own your NFT? Why do you do what you do? What’s in it for them? I am still figuring out this so can’t speak much on this topic. I think there is some spiritual aspect of owning someone’s NFT, It’s not the sheer money I think. I am still discovering on this topic and will write more once I have enough clarity on this.

Offer Extras

Offer something extra to your potential buyer, It can be delivering Physical Version to their address. Or it can be a bundle or something which feel well with.

Marketing Checklist

What are some of the Dos and Dont’s. What should one do after listing their NFTs? Being a creator/marketer myself and working with a bunch of creatives on my Invite train community, I made it easier for NFT creators to market it. We have made several knowledge-base and resources which everyone could use alike. Sharing one of them here.

Feel free to copy and credit: https://trello.com/b/78mZXnqK/nft-marketing-checklist-for-foundationapp

That’s all for today. I will come back with more learning on my next medium posts. Till then:)

Felix Josemon

https://twitter.com/Felix_Josemon

Originally published on my medium blog