NFT Marketing – The Approaches and the Caveats Involved
The Non-Fungible Token that made a splash on the cryptocurrency market back in the summer of 2021 is still sending ripples throughout the industry and well into various sectors of the traditional economy. However, the variety of use cases and the abundance of competition in the market are putting a significant strain on NFT projects in the hunt for user attention and its retention.
When it comes to promoting an NFT, there are two proven and viable approaches – going at it using the team’s efforts, or relying on the expertise of an NFT marketing agency.
In the first case scenario, the project will have to assemble a team of professionals who are both versed in the NFT market, with its many intricacies, and hire experienced specialists who are familiar with such projects and can position them properly before target audiences. Such an approach will entail both a lengthy headhunting period and may prove to be quite costly, considering the high salary expectations of valuable professionals capable of resulting in real product traction. The payback is the relatively high probability of success for NFT marketing and its consequent market fielding as a demanded and attractive product.
The second approach entails relying on the expertise and professionalism of a marketing agency that specializes on the promotion and market positioning of NFTs and related projects. The given avenue may prove to be costly at first glance, however, the timeframe for the execution of a successful NFT marketing campaign that an agency will require is a fraction of the time it will take an in-house team of experts. The monetary benefits of such an approach become evident together with the execution timeframe and the payback period upon completion of the campaign. It is in the interests of the marketing agency to quickly and effectively cater to the needs of its clients, thus adding another successful case to its portfolio and gaining a positive reputation.
Marketing an NFT is as much a combination of professional experience and market adaptation as an art form. Taking on such a task as NFT marketing with in-house resources is a noble venture, but sometimes, it is worth delegating such important endeavors to professionals, thus freeing up valuable team time and efforts for actual product development.
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