Case studies and marketing are 2 things that go hand in hand. The very objective of these case studies is to help set an example for those who come after them. These case studies are an excellent source of inspiration as well as motivation for those who wish to leap into the business world. The same also applies to NFTs, the marketing process for these NFTs is pretty hard and complicated.
While there might be countless reasons for that it is quite a difficult task to market NFTs to people. Even though it is something that has been trending for quite some time now it still has a lot of skepticism attached to it. While several people have come to terms with the fact that they are not a fad and are something that is here to stay. Well, the case studies below should hopefully provide a better understanding of these Non Fungible Tokens.
- Ninja Squad
The way the ninja squad marketed their tokens was pretty interesting, given that before the execution there was a jotted-down plan. The plan had a set of goals attached and was set in such a way that these NFTs were also used to get discounts and benefits. Apart from this, there is also the fact that the ninja squad collaborated with propertyX to increase their reach as well. Mentioned down below are the finer aspects of these NFTs.
The Ninja Squad token was launched early this year towards the beginning of January when it assured a gain of 1$NST per day($NST is The Ninja Squad token). The utility of these Tokens is mainly for unlocking custom trading tools and to be used in the P2E game to buy items as well. Given below is a graphical breakdown of their tokenomic and its utilities.
2. The Phantom Network
This Nanoverse while borderline rebellious seems to be making headlines. The company adopts a no-cost marketing strategy and gains all their traffic add results organically. This isn’t surprising given that they were giving a lot of importance to building their network of influencers, designers, businessmen, and common folk as well. The collection includes a collection of 10,000 NFTs that can be minted on the Ethereum blockchain.
They adopted a marketing concept where they make use of groggy scary videos which in turn help market their product. The primary idea is to create an element of surprise and draw in an audience. They also used discord to create channels to reach out to their user base so that there is a clear communication channel for feedback and response. This also helps them increase their reliability amongst their buyers.
3. Bored Ape Yacht Club
This NFT is quite a famous one and countless of these NFTs have been sold for insane amounts from a few thousand dollars to a couple of a million. This goes without saying that these also are one of the few popular NFTs that were ever brought to the market and sold. The marketing breakdown of these NFTs is simple. The NFTs were marketed using Humour and irony, how? The darwin theory was used as a basis and all these monkeys were either dressed in human clothing or were portraying a human occupation. The idea is that an ape couldn’t possibly do this but weren’t we humans apes a long time ago?
The Bored Ape Yacht Club is a collection of 10,000 different NFTs performing various human acts. These incredible NFTs sold out in less than 12 hours and quite literally took the entire crypto and NFT community by storm. These NFTs are being sold and traded for outrageous amounts on the current NFT marketplaces. Ironically these NFTs were originally worth only 0.08ETH when they first came out and now well it is expensive.
Conclusion
These are but 3 Types or 3 collections of NFTs that are being spoken about whereas there is an entire market with countless others. The NFT marketplaces are filled with different NFTs each having its own USP and stand-out factor. Marketing these NFTs is difficult because one has to educate these users about how they are purchased and mined and this might come across as a challenge for the creators of these NFTs.
This market while competitive is also profitable as the value of this depends and varies on factors such as rarity, demand, and value. One has to understand that there several ways to market these NFTs from the very easy way of social media marketing where you put Ads. Or using influencers to talk about them, the options are endless. It’s not important as to who does it or how it’s done, but what matter is what will work the best for you.
