5 Tips for Minting and Selling NFTs Successfully
While many people look to trading when they want to make money with NFTs, one of the better options is to mint and sell your own NFTs. This way you get full control of the collection and you don’t have to worry about the volatility of these assets, as you will get to keep all the profits.
This is one of the easiest ways to make money in the Web3 sector. That’s because launching NFT collections doesn’t require a ton of coding knowledge and can be done with a small budget.
However, there are still many challenges to creating and selling a profitable NFT collection. That’s why we’ve created this guide to help our beloved Shihtzu Exchange community members take full advantage of the decentralized finance solution.
So before minting your collection, read these tips and then make an informed decision afterward.
1. Make Sure You Have a Good Idea First
The internet is flooded with these digital art tokens. There are literally billions upon billions of NFTs that people can buy and sell. With such a crowded marketplace, you need to find a good idea to stand out and stand a chance at succeeding.
This means that you’ll have to find a niche segment of Internet culture that resonates with you. Something that you’re genuinely passionate about. Look at where you spend your time all day and you’ll figure out the perfect niche group for you to aim for.
The next thing you need is to find an intersection between all your passions and large-enough online communities. You want to pick a target that you’re passionate about but there are also enough people interested in it that you’ll have a chance at selling your NFTs.
For example, this could be your interest for sci-fi game worlds or medeival fictional lands or perhaps an appreciation for fine arts or non-fiction accounts of history. Whatever your interests are, you’ll have to tap into these so your passion will pour into your creations and make your NFT collection enticing to those who share the same tastes.
2. Minimize Your Upfront Costs
Don’t let the allure of profits blind you. While news outlets love talking about wild success stories of teenagers and side-hustlers making millions overnight with their NFT collection, you need to be more realistic with your expectations.
You need to consciously control the costs of your collection so your risk will be minimal at best. For instance, don’t go splurging thousands of dollars on big-name illustrators. You can make money with meme and other easy NFTs too. Like that high school kid who made millions by taking his selfies daily and then selling them as NFTs. Your idea needs to be unique and exciting, not expensive.
You also need to consider the cost of setting up an NFT too. There are gas fees, marketplace listing fees, and successful sale taxes.
So the key here is to use an ecosystem like the Shihtzu Exchange. That’s because Shihtzu Exchange’s NFT marketplace will let you create and launch your NFTs for as little cost as possible.
3. Don’t Overcomplicate Things
Your first instinct may be to get on the same marketplaces where everybody else is launching. Opensea and Rarible are common examples of this. But the problem with those marketplaces is that they are extremely crowded and require a lot of jumping over the hoops to get started.
For example, you’ll have to buy cryptocurrencies, convert into supported tokens, find the right wallet and put everything in that, then do all these crazy transfers and technical setups to get started.
In other words, those marketplaces have a massive learning curve that could discourage you and force you into quitting before you ever get to the launch.
This is another area where the Shihtzu NFT marketplace can make a world of difference for you. Everything here, from the $STZU token to the marketplace minting to distribution is handled through a unified platform. This way you won’t be running around like a headless chicken trying to figure out where to go. With Shihtzu Exchange, everything is easy and effortless.
4. Have a Marketing Plan
Unfortunately, creating NFTs is only part of the process. You can’t hope to have roaring success without having a marketing plan in place. Otherwise, you’ll launch to an empty stadium with nobody there to see your work.
A good place to start your marketing is by joining social media networks and sharing regular updates and exciting posts about your project. By putting all this content out there, you’ll attract people to your project and prime your collection for success.
You can also interact with influential members of these platforms and sell the vision of your NFT collection to them. If they really like your work, some of them will help promote your project without even asking for payments in return.
Of course, nothing beats the power of having a community behind your back that will support you throughout every step of the journey, cheering you up when you’re having doubts, guiding you when you’re stuck, and laughing with you when you hit major milestones.
This is why Shihtzu Exchange is a people-first brand as we know that nothing is possible without our beloved community members. By joining the Shihtzu Exchange family, you’ll have the support, guidance, and love of your fellow members.
5. Add Exciting Utilities
NFTs are no longer just about pretty drawings and pleasing aesthetics. The industry is quickly moving towards meaningful projects with exciting utilities.
The problem here is that utilities require years of coding experience and then mastering the challenging science of writing smart contracts. This can take 40+ hours of weekly learning for many, many months before you’ll be able to code your own smart contracts.
Since we know that most people don’t have the knowledge or coding expertise to develop such features on their own, we’ve baked utilities into the minting process of our NFTs by default.
By creating and launching your NFT collection through our ecosystem, your collection will instantly have some utilities as it will be usable across a wide variety of applications under our brand. For example, we’re working on metaverse initiatives and many gaming projects as well. Your NFTs will be integrated into our growing list of applications, thus making your collection inherently unique and valuable.
Ready to Mint and Sell Your Own NFTs?
Join the Shihtzu Exchange family and start profiting from the many fast-paced sectors of Web3, including NFTs. Here are some links to help you get started: