NFTs is the blockchain-based technology used to represent digital assets and provide token holders with additional benefits. NFTs can be used to represent a wide range of digital assets, such as virtual game characters, loyalty points, voting rights or even physical assets such as real estate or cars.
That’s why we’ve put together this practical guide that informs you about the main challenges to consider when creating your own NFT community. First, we’ll explain why NFTs are important and how they fit into the blockchain space as a whole.
What is an NFT?
An NFT (non fungible token) is a digital asset created through blockchain technology. These digital assets are contracts representing ownership of a work of art, a collectible sports card, video game characters, fashion items or even real-world real estate.
All NFTs are unique, as there is no possibility of them being duplicated thanks to blockchain technology that guarantees their authenticity and certifies their originality.
Why use NFTs?
The token is easy to verify and can always be traced back to the original creator. In this way, the owner of an NFT token can own a completely unique digital asset, knowing that he owns the only token of its kind. The value of the NFT also depends on the stability of the product. NFTs cannot be destroyed, deleted, or copied as the token exists only on the original platform hosted on the blockchain network.
Challenges to creating your own NFT community
An NFT community is an online group of NFT enthusiasts who create, sell, buy, collect and discuss or hype NFT projects. It is a gathering of creators, investors, hobbyists and enthusiasts of the nascent digital asset.
NFT communities are spread and connected by various social media platforms such as Discord, Twitter, Telegram, Reddit, Instagram and other forums where they have a fan base. Although most NFT communities are usually found on Discord, Twitter, Telegram.
How to build your own NFT community
Building a community from scratch is not a one-day job; it requires a thorough and noticeable commitment. The following are the essential steps to consider before creating an NFT community.
The concept behind a community is to have a means of interaction between users and enthusiasts to share ideas, opinions and related topics that could give a better future to a project.
Step 1: Define your audience
To define your audience and set a target. You must know your audience before going into action, it is preferable to look for target audiences who already know what NFTs are or who are digital natives, otherwise you must plan to educate the target group as you cannot talk about NFTs to people who know nothing about them.
In any planning phase, you should understand the niche of NFTs you are going to create, whether it is for pet enthusiasts, art lovers, sports fans or celebrities.
This should guide you on how your community will start and where you should look for your audience. Knowing your target audience will help you know what your community wants and expects from the project.
Step 2: Develop a goal and strategy for your community
Now that you have an idea of who your target audience is, the next step is to develop your goal and the strategy to achieve it.
Your goal is what you intend to achieve with your community in the years to come, while your strategy should be the guideline or plan that will make your vision achievable.
Most of the time, your vision can be exciting, but the strategy to achieve it can ruin the vision. Your strategy must convince your audience to get on board and trust you to take them to that envisioned future. It is important to see what actions need to be taken and create a timeline for them.
Step 3: Select the communication channel that suits you best
The ideal place to start building your NFT community is social media. Twitter, Discord and Telegram are the most common social media channels for community building.
- Discord, has become a medium for instant messaging about NFTs and cryptocurrencies.
- Twitter is suitable for concise announcements, messages and quick interactions between you and your community.
- Telegram allows for elaborate and open discussions within a community if they are not restricted by administrators. It also allows your community to interact in real time.
Step 4: Interact and encourage your community - become engaged
As you build and develop your community, try to interact with its members personally. This is different from messages or announcements in the media.
Engage with them by holding AMA (Ask Me Anything) sessions about your projects and about your community.
Organize giveaways and freebies in your community; this livens up the atmosphere and encourages your audience to stick around. It can be in the form of a contest about your community or projects to further strengthen their loyalty.
Step 5: Partner with feasible industry projects
Partner with notable projects, companies and platforms unmatched in the industry that will help skyrocket the status of your project and its community. This will make your community see that you are not for frivolity and will allow your audience to expand.
Step 6: Don't deviate from your vision, stick to your goals.
Make it your goal not to stray from your vision; it’s the reason you have a community in the first place. Earn the loyalty of your community by delivering what you promise.
In general, the essence of having a community is to communicate with each other about your community and your projects directly. Listen to your community’s feedback and see where you can improve.
Your vision and roadmap should reflect how much you care about your community, pay attention to their yearnings and concerns, and make them see your project as their own by taking them by the hand at every milestone.
Finally it should be noted that building a healthy community cannot be accomplished in a day, and is not as easy as many enthusiasts think. The driving force behind a healthy community depends on how beneficial the project is to you and your community.
If you want to launch a NFTs project for your company, contact us and NeFeToK will evaluate it without obligation.