NFTs are all the rage these days – with everyone from The Weeknd to Snoop Dogg getting in on the action.
If you’re thinking of releasing one yourself, but not sure where to start, here’s a handy guide with 8 things to think about as you plan.
1. Plan Your NFT Collection’s Art
NFTs come in all shapes and forms. Here at Single, our focus is on creating image-based NFT collections that are built on the Solana blockchain.
- Single-Image Edition Collection: a collection built from a single image where each NFT features a unique, numbered edition of the same artwork.
- Multi-Image Collection: a collection built from multiple images where you can customize the quantity and select different amounts for each image to add rarity to your collection.
- Generative Collection: an algorithmically-generated collection with unique, randomized NFTs built from visual layers and traits you upload to make each NFT one-of-a-kind.
Regardless which one you choose, you will need to have artwork prepared. The art can be anything that’s a visual image – a photo, a drawing, a digital version of a painting etc.
2. Decide How You Want to Distribute Your Collection
There are three main ways to distribute an NFT Collection:
- Sell it: In this path, you simple set a price and list the Collection as a product in your store
- Bundle it: In this path, you bundle the NFT with another product (like a t-shirt, livestream ticket, or digital music release)
- Give it away for free: If you want to just get your Collection out to the world, you can give it away for free! You can do this by either setting the price to $0 and listing it as a product in your store – or by sending it to everyone that has purchased a specific product in the past.
3. Define the Perks NFT Holders Will Receive
While you can simply sell an NFT, you’re more likely to have success if that NFT gives the holder a perk for owning it. Using Single’s tokengating product, you can gate things like videos, pages, and products so only NFT holders can access them.
Think about adding value to your NFT by providing early access to unreleased music, exclusive art, or other digital assets that your fans will love. Don't be afraid to get creative with your offerings - the more unique and valuable they are, the more likely fans will be to buy and hold onto your NFT.
Need help thinking about how to reward holders? Here are some ideas to get you moving in the right direction.
4. Get Your Fans Hyped and Tease Your Upcoming Release
Build excitement and anticipation by sharing sneak peeks, behind-the-scenes footage, or previews of your upcoming collection.
For example, if you're releasing a digital artwork collection, you could share a time-lapse video of your creative process or a few previews of your favorite pieces every day leading up to the launch date.
5. Create a Schedule and Stick to It
Creating a schedule for your NFT release is key, especially if you're adding perks.
Here are some things to include in your schedule as you plan:
- Your release day
- Your post-release promotion and plan (sharing on social, emailing)
- When you will launch perks for NFT holders (like livestreams or exclusive products)
6. Create a Killer Product Page
Your NFT Collection product page where your fans will actually purchase your NFT.
It’s kind of the digital equivalent of a party invitation, so make sure it's eye-catching, informative, and easy to navigate.
You will need:
- A good product image to represent the collection
- Pro tip: If you’re releasing a multi-image or generative collection then make this a .gif that shows a variety of examples from the collection
- A compelling description of your NFT
- A clear description of what holders will receive (assuming you add perks),
You can also add a large callout on your shop's homepage or a pinned notice to grab the attention of casual and frequent shoppers alike.
7. Partner Up for Extra Exposure
Collaborating with like-minded creators can be a powerful tool for expanding your NFT Collection's reach and engaging new audiences. When searching for potential partners, look for individuals or brands that align with your values and vision. Consider collaborating on promotional activities or even co-creating your collection together.
For instance, if you're in the fashion industry, you could team up with a fashion influencer to design an exclusive outfit for holders, or even have them create the NFT artwork itself. On the other hand, you could follow in the footsteps of successful Web3 brands like Okay Bears and team up with another shop or brand for the release itself, hosting the collection’s perks in a different Shopify storefront.
8. Launch Your NFTs with a Bang:
Launch day is the culmination of all your hard work, and you want it to be a success.
One way to make it unforgettable is by hosting a virtual launch party right in your shop. You can use Single’s livestream product to create a sense of excitement and urgency around your release, and connect with your audience in a more personal way.
And that’s it! Now you’re ready to launch your first NFT collection. Get started on your own by installing Single in your Shopify store or reach out to our team if you have a bigger project and want help getting started.
Good luck with your NFT release!