How To Get Started
NFT Launch Roadmap: Getting Started
Welcome to the new world of NFTs! We are thrilled you are interested in PoA Studios to launch your NFT(s). Since each project is unique, an NFT launch requires a well-planned roadmap to be successful. We’ve created this guide to help identify goals and develop next steps.
Types of NFTs
NFTs as Digital Collectibles
NFTs are often used to generate income, sold at higher prices, and limited in quantity. They can be video, music, illustrations, lyrics, even digital twins of physical objects. This is what most people are seeing in the mainstream NFT market today.
We call our trademarked community NFTs: ‘NFTeeny’™,℠ or ‘NFTeenies’™,℠. They are community-based tokens used to fundraise, create excitement for an event, interact with fans, and monetize brand advertisements. They are sold at lower prices or given for free for mass distribution.
Questions to Consider
After you decide what type of NFT you would like to create, let’s talk about your goals, purpose, content, timing, and prices. A successful launch requires robust marketing, community excitement, various pricing levels, a story, and roadmap. Here are some guide questions:
Goals and Purpose
What is/are the goals of your NFT(s)?
- Generate revenue.
If so, how much? What would be considered a ‘successful outcome’?
- Create buzz for an upcoming project.
- Explore a new art form and stay on top of innovation.
- Interact with fans and grow my community.
- Other reasons?
NFT and NFTeeny Content
Would you offer NFT(s), NFTeenies, or both?
- Is the digital content already available? Will it be static or will the content morph over a period of time? And/or, will it release locked surprise content to the buyer?
- Is there a story built around the NFT? Many successful NFTs have stories or causes in which the fans relate or are centered around an event or significant milestone such as an anniversary, tribute, etc.
- Will you use collaborators such as animators, musicians, etc.? Whereas multimedia NFTs (music, animation, etc.) are popular, keep in mind revenues will need to be shared amongst collaborators. Furthermore, most NFT sites including PoA are unable to split payments due to wallet management, payment processing services, and money transmitter regulations.
- Are there any other artists or organizations involved? And do you own all creative, legal and distribution rights?
- Will you have content available for PoA to ‘airdrop’ on a scheduled basis? We recommend some surprise content and to build a content calendar.
- Are there any brands you’d like to incorporate into the NFTeeny?
Are your patrons mostly crypto-experienced or crypto-newbies?
The PoA platform is designed for both types of communities. However, the audience is important for PoA to advise best practices related to marketing, payment options, and NFT custody, wallets and other considerations.
What are the demographics and any relevant statistics related to your fan base?
Marketing, creating community, and developing a story around the NFT are critical for a successful NFT launch. PoA can offer a limited level of support and advice around NFT launch but you know your audience best so please consider the following:
How do you plan to market the NFT?
Will you issue a Press Release?
Which social media platforms do you primarily use to engage fans?
IG? FB? Discord? Ideally, we recommend posting announcements on your social media channel 4-6 weeks in advance of the launch and ~3 times per week.
Is there a story around the NFT?
Why should the fans care? Many successful NFTs have stories or causes in which the fans relate, or are centered around an event or significant milestone such as an anniversary, tribute, etc.
Pricing and Revenue
- How much estimated revenue would you like to generate? Or if uncertain, please calculate all costs, including labor costs, to determine break even + $ profit.
- How many NFTs for the initial launch?
- Would you like to provide or offer a physical digital frame for your NFT buyers? Costs range from $350 to over $2,000.
- How many copies of each NFTs / NFTeenies? Exclusivity can demand a higher price but may exclude fans unable to afford them. Providing multiple lower priced items could result in a larger revenue. Additionally, start with a lower price as you can always go higher in the next sale but can never go lower. You may want to consider offering multiple options. For example (totals presume 100% NFTs are sold):
- What percentage fee would you include for the secondary sale? We’ve seen content creators charge an average 5% and up to 15% if there are numerous collaborators. Please note the higher the residual amount, the less likely a potential buyer may be to purchase.
How will you pay collaborators?
Please note, split payments to numerous collaborators is not available at this time due to crypto wallet management, payment processing, and money transmitter regulations.
If an NFT is not sold or resold on the PoA platform, commissions are subject to the marketplace venue terms and conditions.
Environmental Impact, Marketplaces, and Wallets
PoA NFTs are built on the eco-friendly, 99% carbon neutral Palm Network or Polygon blockchain.
For an NFT holder to exchange on other marketplaces, PoA will transfer the NFT to the owner’s wallet and bridge to the Ethereum blockchain. Currently, once the NFT is bridged to Ethereum, it is no longer eco-friendly and payments may not be guaranteed by other marketplaces.
PoA provides a wallet / gallery where NFTs can be stored and viewed. If a user would like to custody one’s NFT, PoA will provide instructions on setting up a compatible wallet such as Metamask.
Sample Timeline – Weeks Prior to Launch
- NFTeeny – submit token symbol and content calendar
- Brand Kit – submit colors, font size, logos, bios, headshots, descriptions, etc.
- PoA will provide basic customization for the artist’s dedicated web-studio
- Social Media – post ~3 x week
- Press – artist issues press-release
- PoA will collaborate on descriptions for website, gallery, social media marketing
- NFT/NFTeeny – submit content and descriptions
- PoA to mint, test, and post
- Review – identify any last edits
- Live – publish site