NFTs, also known as Non-Fungible Tokens, have dominated discussions in the blockchain technology and cryptocurrency markets since early 2021, even among prominent NFT investors. By enabling ownership of unique NFT products, they have transformed perceptions of digital collectibles and attracted more interest in NFT investments. Before making informed decisions on NFT project investments, it’s essential to understand key information about NFTs.
Let us introduce you to all the top NFT products to aid in your decision-making:
1.
Silks
– Top NFT Product of 2022
In our view, the most worthwhile NFT product to invest in is Silks. An emerging NFT and metaverse initiative named Silks seeks to challenge the current state of the blockchain gaming industry. Simply put, Silks is the first game-to-earn (P2E) metaverse that accurately represents real-world Thoroughbred horse racing.
Players will interact, own, and trade various in-game NFT assets within the Silks universe, such as Silks avatars, Silks racehorses, land, and stables. Notably, Silks racehorses are derivative NFTs representing top-tier one-year-old racehorses registered in the United States, establishing a direct connection with the real-world racing industry.
2.
Decentraland
– Infinite Customizable NFT Product Based on the Metaverse
Global users can create avatars and interact with other community members within the Ethereum-based metaverse Decentraland. Developers of Decentraland intend to design in-game items such as virtual land as NFT products, monetizing them through the Decentraland marketplace.
Decentraland’s native token $MANA drives this market. Excitement surrounds Decentraland due to its trading components and drag-and-drop world builder feature, allowing users to construct scenes that other players can interact with.
Given that Decentraland is developed as a Decentralized Autonomous Organization (DAO), players have the ability to influence policies.
3.
AdRunner
– Potential Passive Income New NFT Project
The innovative NFT product series AdRunner aims to blend digital art with practical utility. In essence, the AdRunner series comprises 4,444 NFTs created by renowned designers. However, the true value of these NFTs lies in their potential to generate passive income.
The AdRunner team aims to allow owners of virtual properties to display advertisements within their spaces. These advertisements, known as “AdBoxes,” serve as virtual billboards for others to place ads in the metaverse. Owners of virtual properties will receive the native currency $ADR from AdRunner as compensation for providing ad space.
Interestingly, users who stake their NFTs and invest in the AdRunner NFT series through the platform’s revenue-sharing mechanism will continue to earn. With the momentum of the Web3.0 transformation, AdRunner may gain prominence in the coming weeks.
Additionally, read –
NFT Stocks and Non-Fungible Tokens Explained Even for Beginners
4.
GaryVee’s
Exciting NFT Series, VeeFriends
Media and communications mogul Gary Vaynerchuk has launched an NFT series called VeeFriends (a.k.a. GaryVee). The series includes 10,255 “VeeFriends,” hand-drawn doodles that have become highly sought after since their release last year.
VeeFriends appeal to investors because each NFT is crafted to represent qualities GaryVee values. However, a key advantage of this series is that every NFT owner can attend VeeCon, an annual multi-day leadership conference.
5.
Axie Infinity
– Top PvP Feature NFT Investment Product
Axie Infinity completes our ranking of the most popular NFTs in 2022. Axie Infinity is a play-to-earn (P2E) game with over 5 million active users, likely familiar to investors. Gameplay in Axie Infinity involves purchasing virtual pets (known as Axies) and competing with other players’ Axies to earn rewards.
Axie Infinity organizes these Axies as NFTs utilizing Ethereum blockchain functionalities, allowing players to trade them on the secondary market. Due to the widespread appeal of Axie Infinity, an Axie once sold for over $1.1 million.
Another intriguing feature of Axie Infinity is competing against other players and earning $SLP tokens (used for breeding new Axies). These $SLP tokens can also be exchanged for fiat currency on several exchanges, rewarding skilled gameplay.
What principles are behind launching new NFT products?
Launching a successful NFT product involves a multifaceted process that requires careful planning, execution, and community engagement. Below is a detailed explanation of the main steps involved:
1. Concept Development and Planning:
Define Your Niche:
What type of NFT will you create? Art, music, collectibles, or something else? Understanding your target audience and the specific niche you’ll serve is crucial.
Define Your Value Proposition:
What makes your NFTs unique and valuable? What utility or benefits will they offer to holders? Clearly defining the goals and potential value propositions of your NFTs is essential.
Create a Roadmap:
Develop a long-term vision and roadmap for the project. This may include future content releases, collaborations, or updates to the utility of your NFTs.
2. NFT Creation:
Choose the Right Blockchain:
Consider factors such as transaction fees, environmental impact, and community adoption when selecting the blockchain that suits your NFTs. (For example, Ethereum, Polygon, Solana)
Design and Develop Artwork or Assets:
Ensure high-quality visual effects and technical specifications that comply with the chosen blockchain standards.
Smart Contract Development:
This code dictates the functionalities and rules associated with your NFTs, such as ownership, transferability, and potential royalties.
3. Build Community and Marketing:
Establish Online Presence:
Create a website, social media channels, and possibly a Discord server to connect with your target audience and build a community around your project.
Generate Pre-launch Buzz:
Use various marketing strategies such as influencer outreach, content creation, and community engagement to create excitement and anticipation for your launch.
Partnerships:
Partnering with renowned artists, influencers, or other NFT projects can help expand your reach and attract potential buyers.
4. Release and Minting:
Choose the Right Launch Platform:
Select a reputable NFT marketplace that aligns with your project’s needs and target audience.
Set Minting Price and Availability:
Determine the initial price and total supply of your NFTs, considering market demand and project sustainability factors.
Minting Process:
Ensure a smooth and user-friendly minting experience for your community to acquire your NFTs.
5. Post-launch Management and Growth:
Community Engagement:
Continuously interact with your community, address their concerns, and provide updates on project developments.
Fulfill Your Roadmap:
Deliver on your commitments outlined in the roadmap to maintain trust and loyalty within the community.
Evolution and Adaptation:
Prepare to adjust your strategies based on market feedback and community needs to ensure the long-term success of your project.
Additional Considerations:
Legal and Regulatory Compliance:
Research and comply with relevant laws and regulatory requirements concerning NFTs in your jurisdiction.
Security:
Implement robust security measures to protect your smart contracts and users’ funds from potential attacks.
Sustainability:
Consider the environmental impact of the blockchain you choose and explore potential solutions to reduce the project’s carbon footprint.
Launching a successful NFT product requires comprehensive consideration, not limited to creating artwork or assets alone. By carefully planning each stage, building a strong community, and adapting to the evolving NFT landscape, you can increase opportunities to create valuable and sustainable projects in this dynamic and continuously evolving field. Remember, in the realm of NFTs, establishing trust and fostering a positive community are crucial elements.
Here are some key steps taken to ensure a smooth launch of a new NFT product:
Pre-launch Preparation:
Thorough Testing:
Before launching, rigorously test your smart contracts to identify and fix any bugs or errors. This helps prevent critical issues during the minting process and protects user funds.
Community Management:
Establish clear communication channels such as a Discord server or social media groups to interact with your community and address any questions or concerns they may have.
Transparency and Honesty:
Maintain transparency about the project’s goals, roadmap, and potential risks. Building trust with the community is crucial for a successful launch and long-term sustainability.
Simulation of Minting Process:
Simulate the minting process before the actual launch to identify and resolve potential bottlenecks or technical issues. This ensures a smooth user experience when your NFTs are accessed by the community.
Emergency Plan:
Develop a clear emergency plan to address unforeseen circumstances, such as unexpected demand or technical difficulties during the launch.
Execution on Launch Day:
Clear Communication:
Maintain open communication channels with the community on launch day. Provide regular updates on the minting process, promptly address any issues that arise, and respond to inquiries.
Active Monitoring:
Closely monitor the minting process, gas fees, and network activities to detect and resolve any potential issues promptly.
Community Support:
Be prepared to support community members facing difficulties during the minting process. This may involve providing troubleshooting guides or establishing dedicated support channels.
Transparency:
If unexpected issues arise, maintain transparency with the community and provide clear explanations and solutions. Honest and timely communication helps maintain trust and prevents negative sentiments.
Post-launch Follow-up:
Community Engagement:
Continue to actively engage with your community post-launch. Provide updates on project progress, address any lingering questions, and foster a sense of belonging among your NFT holders.
Fulfilling Commitments:
Deliver on the commitments outlined in your roadmap to maintain community trust and demonstrate your commitment to the project’s long-term success.
Adaptability:
Prepare to adjust your strategies based on market feedback and community needs. Gather feedback from the community to refine your approach and ensure sustainable growth of the project.
Additional Tips:
Consider Whitelisting:
Implement a whitelisting system to prioritize early supporters and prevent bot participation during the launch, ensuring genuine community members have a fair experience.
Collaborate with Established Partners:
Partnering with reputable NFT marketplaces, influencers, or other projects can help attract a wider audience and increase visibility for your launch.
Effective Use of Marketing:
Utilize various marketing channels such as social media, influencer outreach, and content creation to generate pre-launch buzz and attract potential buyers.
By emphasizing thorough preparation, clear communication, and ongoing community engagement, you can significantly increase the chances of successfully launching your NFT product and establishing a solid foundation in this dynamic and evolving field. Remember, in the realm of NFTs, building trust and fostering an active community are critical factors.