We’re going to go out on a limb and say that you’ve probably heard of NFTs before.
How could you not? NFTs (non-fungible tokens) have exploded in popularity in recent years and, unsurprisingly, it didn’t take long for brands to start using them as a powerful tool for engaging their audiences and providing them with one-of-a-kind digital assets.
From limited-edition NFT art to digital tickets to exclusive brand experiences, NFTs have transformed the way companies can reward and interact with their customers.
But creating and launching a successful NFT project can’t just happen overnight — it requires the right digital know-how, strategic planning, creative talent, and a thorough understanding of blockchain technology and your target market.
So, what’s a marketer to do in order to get in on the action?
If you want an NFT project done right, we find that the best thing to do is team up with a professional NFT development service.
Never heard of those? Not a problem.
Today’s blog is exploring what you can expect from NFT development services, how they benefit your brand, and why choosing the right one can help you successfully tap into the NFT world and make the impact you’re looking to make!
Why Are NFTs So Valuable?
NFTs are valuable for several reasons, all dealing with their unique properties and the benefits they can offer creators, collectors, and brands.
Here are some key factors that contribute to their overall value:
- Scarcity and Ownership — NFTs are unique, non-replicable digital assets that have verified ownership on the blockchain, which guarantees a one-of-a-kind digital asset.
- Authenticity and Provenance — Blockchain technology provides a record of ownership and transaction history, which boosts trust and transparency.
- Variety of Uses — Besides being part of collections, NFTs can offer other benefits like access to exclusive events, memberships, and the ability to use them on different platforms.
- Creator Control and Royalties — Smart contracts allow creators to earn royalties from secondary sales and sell directly to their audience.
- Community and Social Status — NFTs can build active communities and serve as digital status symbols.
- Investment Potential — Like traditional art or collectibles like baseball cards and Star Wars figurines, NFTs can appreciate in value, making them attractive to investors and collectors.
- Metaverse and Web3 — NFTs play a big role in digital economies, representing assets in virtual worlds and supporting the decentralized Web3 ecosystem.
Your Guide to the Pro NFT Development Process
With all of the benefits they offer, starting your own NFT project is an exciting thing that the professional NFT development process can guide you through step-by-step.
And while every service provider is different, a reputable one will typically follow the steps outlined below. This guide will walk you through each phase of the process:
1. Consultation and Strategy
Once you’ve chosen your NFT development service provider of choice, the first step in your collaboration is an initial consultation.
In this phase, you’ll work closely with your assigned team and let them in on what exactly it is you’re looking for, such as:
- Your brand
- Your project’s goals
- Your target audience
- Your overall creative vision
Once they’ve learned more about your brand and your goals, they’ll help you brainstorm a concept, determine how your NFTs would best be used, and draw up a strategy to help you meet your goals.
2. Smart Contract Development
If you’ve never heard of smart contracts before, we’ll clear things up:
A smart contract is a digital agreement that automatically enforces the rules for your NFTs. They’ll determine things like who owns the NFTs once they’re created, how they can be transferred, and whether the original creator earns royalties on future sales.
Once your concepts are developed, your NFT development service provider will go over this contract with you. This will ensure that, when your NFTs are created, you can be sure they work as intended and provide security and transparency on the blockchain.
3. Asset Creation
Now comes the fun part.
After your smart contract is drawn up, your NFT development team will get to work creating your digital assets.
What these are is up to you and your goals; they could be digital artwork, music, other media, virtual real estate — it’s up to you!
Whatever your assets are, in this stage, a team of NFT designers will bring your vision to life. They’ll create high-quality, unique digital assets from your initial concepts, designed to appeal to your target audience and stand out in the NFT marketplace!
4. NFT Minting and Deployment
Once the assets and contract are ready, your NFTs are ready to be minted onto the blockchain.
Minting refers to the process where your digital files, whether they’re images or music or whatever you chose, are transformed into unique digital assets on the blockchain. Each NFT is assigned a unique identifier and metadata, which includes information like the creator, ownership, and any additional information that was specified in your smart contract.
This process will make sure that your NFTs are authentic, cannot be reproduced, and will always be traceable on the blockchain.
After minting, your NFT will be deployed (or listed) on the NFT marketplace of your choice, where they will become available for purchase, auction, or trade.
Here is a list of the most popular NFT marketplaces out there:
- OpenSea – One of the largest and most popular NFT marketplaces, offering a wide range of digital assets.
- Rarible – A community-owned marketplace where users can create, sell, and collect NFTs.
- Foundation – A curated platform known for supporting digital artists and high-quality artworks.
- SuperRare – Focuses on high-quality digital art and unique, single-edition NFTs.
- Mintable – Allows users to create, buy, and sell NFTs easily.
- Nifty Gateway – Known for collaborating with celebrities and popular artists to launch exclusive drops.
5. Marketing and Community Engagement
Congrats! You’ve now got an NFT (or a collection of NFTs!) in the marketplace and ready for engagement!
But remember, successful NFT projects thrive on community support and engagement. So, in the weeks before your launch, it’s crucial to start building awareness and excitement with a strategic NFT marketing plan!
This can involve creating a social media presence, engaging with potential buyers, sharing behind-the-scenes content, and collaborating with influencers to build up awareness and hype. Do it right and by the time your NFTs go live, you’ll have an excited community ready to support and promote your project!
Benefits of Partnering with Professional NFT Development Services
Because launching a successful NFT project requires so much creative and technical know-how and understanding of the blockchain network, partnering with a professional NFT development team is the way to go.
Having experts in your corner offers plenty of advantages that can help the likelihood of your project’s success. Here are some of those benefits now:
- Quality Assurance and Expertise — Professional NFT developers are highly experienced and this know-how ensures that your NFTs are created with the best practices in design, coding, and security. This reduces the risk of technical errors, smart contract vulnerabilities, and poor-quality assets that could harm your brand’s reputation.
- Time and Cost Efficiency — Relying on the skills and experience of a professional team helps streamline the development process and reduces the chances of costly mistakes and delays. This means your project can be launched on time and within budget, allowing you to focus on strategy and marketing instead of other issues.
- Scalability and Future-Proofing — Experts design your NFT project with scalability in mind, which allows you to easily expand your offerings or integrate new features as time goes on. They also stay up-to-date with the latest technologies and trends to keep your NFTs relevant and adaptable to future developments in the blockchain space.
- Legal and Compliance Support — The complex legal landscape of NFTs requires a thorough understanding of things like intellectual property rights, royalties, and regulatory compliance. Professional developers provide guidance and support to keep your project compliant with all necessary legal standards and reduce the risk of any complications and headaches down the line.
Common Misconceptions About NFT Development
NFTs are, admittedly, a bit more complicated than traditional digital products and it's common to have some hang-ups about dealing with them, especially if you aren’t familiar with them or with blockchain technology and Web3.
But allow us to dispel some myths.
We’ve listed the 3 top misconceptions that often deter brands from exploring the potential and NFTs and we’ll explain why you shouldn’t let them hold you back:
“It’s just digital art. What’s the big deal?”
Not so fast!
As we mentioned earlier, NFTs are more than just digital art — they can be any digital asset you choose and represent ownership and authenticity on the blockchain.
They can be used as digital tickets to exclusive access events, serve as memberships, and even be used across virtual worlds and platforms like the Metaverse.
“Anyone can make an NFT.”
While anyone can technically create an NFT, successful projects require more than just minting a token.
They involve strategic planning, high-quality assets, smart contracts, and community engagement — all of which will take some expertise and a strategic approach.
“NFTs are just a passing fad.”
Not really. NFTs are evolving beyond just art and collectibles.
As blockchain technology advances, NFTs are expected to play a big role in the future of digital economies and Web3.
How to Choose the Right NFT Development Partner for You
If you’re ready to start incorporating NFTs in your marketing efforts, then we commend you! The first step is to find the right development services for you.
Here are some traits of a good NFT development service that you should look for while you find the right partner for you:
- Technical Expertise — Look for a team with proven skills in blockchain development and experience creating secure smart contracts on platforms like Ethereum or Binance Smart Chain.
- Full-Service Capabilities — Choose a partner that offers everything in-house, from consultation to design, development, and ongoing support. Having all services under one roof will help your project run smoothly from start to finish.
- Strong Portfolio — Review their past work to see the quality and variety of projects they’ve completed, including art-based and utility-focused NFTs.
- Positive Reviews — Check testimonials and client feedback to see what others are saying about their reliability and customer satisfaction.
- Flexibility and Customization — Find a team willing to tailor their services to fit your specific needs, brand, and project goals.
- Security — Make sure the services you choose have strong security measures and understand legal compliance to protect your project.
- Clear Communication — A good partner should keep you informed with regular updates and be upfront about timelines, costs, and potential challenges.
NFT Development Services Done Right
Now that you’re armed with the knowledge you need, you could start looking for an NFT development company right away.
Or, alternatively, you could end your search before you start, because you’re already in the right place.
Designity is made up of the top 3% of all of the talented creatives who apply, meaning that our creative community is comprised of the best of the best in fields like NFT art, NFT design, blockchain technology, smart contracts, NFT marketing, and more — everyone you need to take your NFT project from concept to completion.
And with the guidance of a dedicated Creative Director to act as your project manager, source your creative team, and keep up with your timelines, you can get it all done without it eating up your precious time.
Get the NFT collection your brand needs while you focus on growing your business.
If that sounds like a plan to you, take a look at our NFT design and marketing services page and portfolio to see how Designity has been the answer for brands just like yours looking to create the kind of NFTs that demand attention.
If our style vibes with yours, then go ahead and book your demo call. We’ll get you started with a two-week, no-obligation trial so you can test-drive our services and see why Designity is the NFT design and development partner you’ve been looking for.
Let’s get your first NFT project off the ground!
