Tory walks through eight steps to sell NFTs: build a brand story, pick a marketplace, use hashtags, maintain high file quality, price strategically across three tiers, choose popular types like art or music, and automate large collections. Most NFT sales are modest in value, but storytelling and community drive the ones that succeed.
Questions this video answers
February 23, 2022.
$41 billion.
12 hashtags.
55% more likely to buy; 44% likely to share the story; 15% will immediately buy.
0.2 ether.
Chapters
In this video, I'm going to show you what you can do to make your NFT a top seller. We're going to cover everything from setting up pricing to attracting buyers, and also what quality your file needs to be, all to help you earn some of that $41 billion in NFT earnings currently floating around above our heads. I'm Tory and this is how to make a top Selling nft. If you want to keep staying up to date on tech trends like NFTs, make sure to click the link below to check out our breakdown of how to stay current on emerging tech trends. Now I'm going to go into the first couple of things that you need to do to make a high selling nft. But before I do, make sure you stay tuned for 12 pro tip hashtags that you can use right now to get more eyes on your nft. Coming up a little later in the video, first things first. What is an nft? An NFT is a non fungible token. Each NFT is unique and can be sold as a way to prove ownership over some sort of digital file. It's like going to an auction. Once you buy an item, they give you a receipt letting everyone know that this is yours and it's been yours since this date. With this booming market, there are a lot of people going for it. Here's some tips on how to stand out. Number one, who are you? As much as you'd like to just make a random standalone NFT and make a billion dollars, it just doesn't work like that all the time. But if your NFT is attached to a brand story as to why you're doing what you're doing and what it actually means, 55% of customers are more likely to buy, 44% will likely share your story and 15% will immediately buy. So story creates emotion and emotion creates cash. Good storytelling has some real value. We have a great guide on how to go about it. Make sure you check it out. An NFT Marketplace is a decentralized platform that allows users to create, buy, sell and store non fungible tokens. You set up a wallet, connect it to a marketplace, create a profile, upload your NFT content, click sell and now you're good to go to actually start selling. Can you do it without a marketplace? Absolutely. But like Chris Rock said, you can drive your car with your feet if you want to, but that doesn't make it a very good idea. Going with the marketplace saves you time, energy and streamlines everything from your first upload to your first sale Learn to love hashtags These are the top 12 hashtags responsible for boosted views given to NFT content on Instagram in 2021. By simply tagging your shared post about your new piece with these hashtags, you'll boost your views. Make an attractive listing the people who are browsing through sites like Rarible are looking at your title and picture before ever clicking on it. Make sure your title is good and that your preview picture really shows how high quality your piece is. Speaking of quality, Number five Maintain high quality standards. Your content should be the highest quality that you could offer. It's the difference between this and this. Unless it's intentional in a piece of the story that you created from the tips on our blog, you you should always aim to have the quality of the piece. Be reflective of the price that you're charging. 6. Price this right when it comes to figuring out a good price to sell your NFT for, there's a great quote from this book called Pricing Creativity that pretty much says that you should come up with three options. Option one is set at a price within the customer's budget or close to it. Option two is the higher price option and is priced higher than option one, and option three is pretty much their Just to make option two look good, a wide range collectible should start somewhere around 0.2 ether. This is low enough for anyone to be able to actually afford, but it's still higher than most of the transaction fees so that you can actually make some kind of money here. Mid range starts at 0.06 ether. Luxury premium starts at 0.1 ether. Number seven choose your NFT type wisely. There are a few different types of NFTs, but right now the three most popular forms are art, music and trading cards or collectibles. By choosing one of these three forms to have your NFT in, you'll be tapping into an already thriving scene. And lastly, create high item collections. You can have your NFT be a solo, standalone or part of a collection of NFTs that you happen to be offering. The real money is in the latter. Have a collection with tons of items. I'm talking about thousands. NFT juggernauts like Cryptopunks, Sup Ducks and Boredate Yacht Club do this brilliantly. The benefit of having a ton of NFTs in a collection as opposed to just selling a single one is that you can sell in volume. If you can sell 5,000 items at $5 each, that gives you a nice little cut of $25,000. I can find this client info have you heard of HubSpot? HubSpot is a CRM platform so it shares its data across every application. Every team can stay aligned. No out of sync spreadsheets or dueling databases. HubSpot grow better if you're watching this video right now and thinking, yeah, but 10,000 items? Tori, I do not have the time or Energy to create 10,000 items to put into an NFT collection. Well, don't worry because no one does. For collections this large, they use computer automation to offer slight changes in their content. A great example of this would be bored 8 Yacht Club. They have a basic look, but because of that automation I was just talking about, they can offer a ton of variations like a different colored hat, a green background instead of orange, or a crown in the jacket. Remember, this is not a surefire way to get rich quick. While NFTs can sell for millions, roughly 50% of all recorded sales are just under $200, making the average price for most NFT sales relatively low. But remember, if you attach a story to your NFT and find a community to support it, you will make a ton of sales. If you like what you heard and you want to hear more, please subscribe, like and comment to hear more. Adios. There's a great quote from this book called Pricing Creativity that link and check out our breakdown of how to stick of how of how to stake.
