Ghostchain- NFT Marketing
One of the more ‘unusual’ projects we have worked on, NFT Marketing, this is a snapshot of how we helped a relatively new NFT project from concept through to selling-out of all 10,000 assets in the space of a matter of weeks.
NFT’s have been a hot topic for most of 2020 and 2021, with projects such as Crypto Punks and Bored Ape Yacht Club making headlines for selling JPG’s for upwards of 1m USD. For anyone who doesn’t know what an NFT is, A Non fungible Token is an asset thats authenticity is proven by using the blockchain. The trouble, however, is that many NFT’s were (and still are) using the Ethereum network, which is widely known for extortionate transaction fees and energy-hungry usage.
This is where NFT Ghostchain hoped to solve a problem. As it happens, with the release of Cardano’s Hard fork ‘Alonzo‘ that came into full force on the 13th of September, tech-savvy developers were able to start creating NFT’s (smart contracts) using the Cardano network. A much quicker, significantly faster, and much more energy-efficient network than the slow, expensive, and power-hungry Ethereum. As such, the team was able to develop a new NFT project, that utilized the Cardano Hard Fork upgrade, and needed a way of marketing their project.
- NFT Ghostchain had never launched an NFT project before – and whilst had amazing ideas of how to give back to their community, didn’t have a way of conveying their ideas to prospective buyers.
- Most of the Crypto/ NFT community lives among apps such as Telegram and Discord – apps that are historically used for ‘chat’ – meaning running ads ON platform was not possible
- As an unregulated industry, conventional ad methods, such as Facebook and Instagram would not work – so organic marketing tactics were needed to both build a following, and ultimately sell NFTs.
OUR APPROACH TO NFT MARKETING
Firstly, W2 Solutions needed to identify which sources of customers would be best for NFT Ghostchain. Did Twitter, YouTube, or Facebook (for example) provide the easiest access to the crypto & NFT community? We had to identify where the audience sat in order to devise the appropriate strategy.
Next, we needed to figure out the resource constraints of the team. As very very busy developers, their time came at a premium, so the need for efficient processes as part of the NFT marketing campaign was of most importance – in particular, we needed to find a way to automate as many of the manual tasks as possible.
Once we found the communication method and platform – we simply needed to devise an organic strategy that could reach the maximum amount of ‘hot’ customers in the shortest timeframe, without the use of paid ads.
- We identified Twitter as a primary source of traffic, and somewhat Instagram as well. Youtube was a platform whilst rich in Crypto & NFT content, which would require a lot of time to nurture that the team did not have.
- Then, we devised a communication strategy, with the optimal wording, positioning and call-to-actions that when executed, brought in a whopping 3.5k followers in 4 weeks on Twitter, and 1.25k members of a discord channel – all without spending a penny. We also ran our entry-level conversion rate optimization report on the website and suggested some tweaks to improve click-through rate.
- We helped implement a simple series of automation so that part of the communication strategy was completely hands-off (such as the invitation to Discord, plus informational messages)
Result: Members of the 1.25k discord community were able to learn about the project by having 1-2-1 conversations with the founders; leading to over $1m in sales and a sell-out of the NFT project. NFT marketing done right!
CAN YOU RELATE?
Do you own a brand, product or business that conventional marketing methods don’t quite work for? Have you tried PPC ads that have fallen flat on their backside, or even have an NFT project of your own and don’t know where to start? Perhaps we have the solution for you.
Client :NFT Ghostchain
November 10, 2021