WHY YOU SHOULD LAUNCH YOUR NFT COLLECTION

Welcome to the second chapter of our NFT Creation Course! In this chapter we’re going to cover the reasons why launching an NFT Collection is a smart move. Of course, it makes no sense to run a course on creating NFTs without first weighing up whether it’s a good idea or not, so let’s get into it.

Are NFT Right for Me?

We’ll break this down into the two scenarios you’re probably in:

1. You want to start a business but you don’t yet know exactly what it is or how to execute it.

2. You already have a business (or a business idea) and you want to grow it.

The benefits are practically identical in both cases, but we’ll still walk through them separately. Make sure you read every detail, because at the end there’s a practical example that makes it all click.

I Want to Start a Business: Are NFT Useful to Me?

If you want to start a business, whatever it is, using NFT as a vehicle or as the business itself can be a great idea for a few reasons.

We need to be clear that thousands of NFT collections are launched every day, and only a small percentage actually succeed.

That doesn’t mean it’s impossible, far from it if you understand how the space works and play it to your advantage. And that’s exactly what we’re going to learn throughout this course.

We also need to be upfront that building a successful NFT collection with no investment is much harder and will take a lot more time and effort. In other words, the more you can put into your collection (art, team, marketing, development, etc.) the better the results you’ll get, and faster.

The point is, the opportunity is real, it exists, and if you take advantage of it you can build a business that works and generates income through NFT.

Benefits of Using NFT to Build a Business

The benefits of building a business with NFT as the vehicle are clear: 

I ALREADY HAVE A BUSINESS, CAN I TAP INTO NFT?

If you already have a business, the benefits are practically identical. Plus, you’ll have a head start since it’ll be easier to earn investor trust. But there’s also an extra challenge: you need to figure out how to fit a utility into the NFT that ties back to your existing project.

Don’t worry about that, though. In the upcoming chapters we’ll cover how to decide what utility to offer in an NFT collection.

Again, if you already have a business you can pull in extra funding to scale it, expand your reach to potential customers, and build a loyal community around your product. In short, it opens the door to supercharging the growth of your project.

Our example (Smithii) makes it clear. While we build our product we grow a community on social media and leverage the “NFT Collection” effect to boost the marketing work we’re already doing.

With that said, let’s jump straight into a real example we can use as a reference, one I personally love. It’s the NFT collection “Meta Tattoo Club“.

SUCCESS STORY WITH A REAL BUSINESS

Meta Tattoo Club is an NFT collection created by a Swedish tattoo studio. It’s a striking case because they managed to sell 8,888 NFTs. And not only that, the collection is still active, holding up at a fairly solid level.

As they tell it, their goal was to expand their tattoo studio and tattoo culture around the world.

Without a doubt a reference point when it comes to building hype around the tattoo concept, with resounding success on the Solana network.

As mentioned, they sold 8,888 NFTs at a price of 2 Solana at launch (October 2022). That comes out to a total of $497,728 USD from the mint alone.

On top of that, they currently sit at a total volume of 140k Solana. The numbers speak for themselves.

And if that sounds light, they’ve also built a massive community. Right now they have nearly 12,000 followers on Twitter and a high number of interactions on every post.

Of course the risk is real too, because if we don’t keep the project active and running properly it can lead to the total loss of our business.

Despite everything covered here, remember that this isn’t for everyone. It’s just another way to build, with its own pros and cons. 

After learning everything we’re going to cover in this course, you need to decide for yourself. If you see it as viable and applicable to your situation, go for it. Don’t get carried away, think it through before making any move.

Thanks for reading, on to the next chapter. See you there!