Find Top NFT Collections and Promote Your NFTs for Free, Utilizing NFT Analytics Tools
Nov 16, 2023
How the Top NFT Collections are Promoted
Navigating the NFT world requires both strategic promotion and keen insights from analytics. To that end, let’s dive into the best practices employed by successful NFT projects and how you can use NFT analytics tools to identify these successes. Whether you're looking to promote your NFT for free or understand the intricacies of crypto tools and NFT analytics, we’ve got you covered.
1. Engaging and Empowering the Community:
The most successful NFT projects recognize the importance of a strong, engaged community. While there is no single approach for achieving this, the top NFT projects place a premium on creating exclusive experiences and benefits for their members, thereby fostering a sense of belonging and value. Moreover, these projects actively involve their community in decision-making processes, which can further enhance community engagement and loyalty.
For example, the Doodles team frequently involved the community in choosing new features and additions to the project, giving them a say in its evolution. Azuki took this one step further with the Researchers in Residence initiative, which elevated select community members and allowed them to showcase their own industry expertise and vision of Azuki’s future. Moonbirds, another successful NFT project, tied their initial NFT distributions to holders of PROOF NFTs, and the backing of Proof Collective remains a key component of their growing community.
NFT analytics to track:
Engagement and interaction on social platforms
Participation rates in on-chain or social app-based decision-making processes
Wallet activity associated with the NFT collection (trackable on Flipside)
2. Offering a Unique Value Proposition:
Now that the initial hype wave is over, most NFT projects need to offer something beyond digital art in order to stand out. More specifically, today’s top NFT projects provide added utilities such as access to exclusive content, events, or tangible real-world benefits – and the surviving successes from the first generation of NFTs have also evolved along these lines.
“Value” can mean different things to different NFT communities, ranging from BAYC’s ever-evolving metaverse to Pudgy Penguins’ breakout success with the launch of their physical toys, which are now stocked by some of the world’s largest retailers. The bottom line is not every NFT project starts off with a clear unique value proposition, and many of the ones that do don’t end up following through – but the NFT collections with the biggest followings have managed to prove that they are working behind the scenes to make something tangible and exciting happen.
NFT analytics to track:
Smart contract interactions that reveal unique attributes embedded in the NFTs (trackable on Flipside)
Price trends and trading volume, as a barometer for market reception and perceived value (trackable on Flipside)
Ownership Patterns of NFT holders and the historical value of these wallets’ NFT holdings over time (trackable on Flipside)
3. Leveraging Hype and Influencer Collaborations:
While some of the past strategies for driving attention to NFTs may have died with the last bull market, generating buzz remains crucial for any NFT project’s success. Top projects achieve this through strategic partnerships with influencers and effective social media campaigns, with a focus on reaching broader audiences and raising awareness of the project among the unindoctrinated.
At its peak, Bored Ape Yacht Club successfully harnessed the power of celebrity and influencer endorsements to generate massive hype, which solidified its position as a prestigious and sought-after collection. Similarly, Doodles capitalized on influencer partnerships by collaborating with well-known artists and personalities in the digital space. These collaborations brought a fresh and diverse audience to the project, creating a buzz that significantly boosted its popularity.
NFT analytics to track:
Social media metrics and mentions by influencers
Correlations between social media activity and NFT sales (trackable on Flipside with LiveQuery)
Frequency and reach of influencer collaborations
4. Evolving with the Market
The top NFT projects successfully promote their collections by effectively focusing on adaptability and evolution in response to the dynamic and often unpredictable web3 market conditions. If a project offers something that is technically or creatively brilliant but is not aligned with market sentiment, it often pays off to make a strategic pivot, whether it involves changing the type of art they feature, the utility of their NFTs, or their marketing approach.
For instance, Moonbirds responded to the community's desire for more utility and interactivity by introducing new features and benefits for NFT holders, such as exclusive access to events and potential airdrops. This not only reinforced the value of their NFTs but also kept the community engaged and invested in the project's future. Another prominent project, Doodles, demonstrated adaptability by expanding their artistic direction and collaborations based on market trends and collector interests.
Stay Ahead of the Curve Using NFT Analytics Tools
Many of the best practices outlined above are easier said than done, – especially since imitators are common within the NFT space and past successes can be difficult to fully replicate.
That’s why, whether you’re an avid collector looking for the next NFT sleeper hit or a web3 creator interested in learning how to promote NFTs for free, the best way to know what’s working in the market is by tracking actual on-chain activity on popular and up-and-coming projects using a free crypto analytics tool like Flipside.
Valuable insights include:
Volume and Transaction Analysis: Tracking the volume of transactions and sales on these platforms can reveal emerging trends and popular NFTs among collectors. A sudden spike in volume can indicate growing interest.
Community Growth: Monitoring the growth of the community, such as increases in wallet addresses holding the NFTs, can signal rising popularity.
Liquidity and Market Activity: Assessing the liquidity of NFTs on marketplaces and observing bid-ask spreads can provide insights into market confidence and the potential for future price increases.
Smart Contract Interactions: Analyzing interactions with NFT smart contracts, such as minting rates and frequency of transfers, can offer clues about the project's activity and user engagement.
Pricing Strategies: Data on successful NFT pricing can inform optimal pricing for new launches.
Timing and Scarcity: Analyzing the timing of releases and the impact of scarcity on demand can assist in planning release schedules and edition sizes.
The best part about today’s top on-chain activity trackers is that most of them are free, whether you’re leveraging dedicated NFT analytics tools or one of many blockchain explorers available across multiple chains. For instance, Flipside has an active community of NFT enthusiasts who create and share custom dashboards tracking NFT market activity across the entire web3 ecosystem.
Top community NFT dashboards include:
Explore the Flipside community’s public NFT dashboards, or dive into the data yourself and create your own custom NFT analytics tools for free! Get started here.