- PFP NFT meaning?
- How are these PFP NFT projects setup?
- PFP NFT development strategies?
- PFP NFT development strategies II?
- The difference between PFP NFT project development?
- Ironclad marketing strategies for PFP projects NFT
- Takeaways from marketing strategies for PFP NFT
PFP NFT projects are abundant in the cryptocurrency market. Probably one of the best varieties of nfts is PFP, or profile picture NFT. CryptoPunk pfp is one of the first NFT collections on the Ethereum blockchain, launched in June 2017.
Some pfp crypto projects are selling for hundreds of thousands of dollars each, like CryptoPunks and Bored Apes. Pfp crypto projects have gained mainstream acceptance. Jay-Z, GaryVee, Serena Williams, Logan Paul, and Marshmello are among the celebrities who own cryptopunk pfp nfts. Let’s dig deeper into pfp nft meaning.
PFP NFT meaning?
Pfp NFTs are essentially used as profile images. Every nft is unique and has its own distinctive qualities, such as backgrounds, hats, skin colors, accessories, etc.
The Bored Ape Yacht Club is currently the largest nft. According to rarity.tools, a top nft ranking website, there is 10,000 bored ape yacht club nfts now in existence. According to rarity.tools the floor price is 80 ETH, which is currently worth $250,000.
A second NFT, World of Women, which has a similar concept but a differently themed project with its own team, likewise has roughly 10,000 NFTs in limited circulation with a lower floor price of about 8 ETH, or about $25,000.
Another excellent example of an nft project that isn’t a pfp nft is CryptoKtties; this nft is not limited in supply, and the price is unstable. Right now, it costs 0.0748 ETH.
The making of PFP NFT
PFP NFT emerges where generative art and collectibles converge. Similar to trading cards, they are collectible because of their initial mint supply of 1000, 5000, or 10,000 and their increasing levels of rarity.
PFP nfts are generative and users enter various attributes, such as body type, head shape, backdrop, and color into a program, which then randomly assembles a sizable number of NFTs. This is how they are made by utilizing a straightforward plug-and-play approach.
How are these PFP NFT projects setup?
On a regular basis, these projects have their own communities and websites where people can go and visit them. They do have their initial supply mint, whether it is 1000, 5000, or 10,000. People go there, then connect with their MetaMask or other wallets, and will be randomly allocated one of the pfp nft when they connect.
So an example is crop collective. Once your wallet is connected, it shows a special minting page and you are eligible to participate in the official public sale. So you’d be required to pay the official gas fees and additional fees, depending on the projects.
However, that money goes to the project for its further development, and they’re free to trade on marketplaces like OpenSea, for example.
Now that we’ve known a bit about what PFP Nft is, let’s proceed to understand PFP Nft development strategies.
PFP NFT development strategies?
As a newbie in the crypto space, you need to find a PFP NFT development company to build your PFP NFT project, and that team needs to be aware of the standard processes to make sure that the project is successful.
There are standard processes for developing PFP NFTs, and it all starts with determining the smart contract specifications and meeting the client’s requirements.
Usually, information is requested like minting fees, airdrop total, whitelist total, airdrop addresses, whitelist addresses, and then specific traits to put under nfts. After that, the NFT assets are then created and uploaded to a third-party asset hosting service, such as Pinata.
PFP NFT development strategies II?
We’ll eventually start working on the design of the front-end application, which will be done concurrently with the smart contract. When the development of the front end of the smart contract is done, the next stage is to integrate it into a test environment. It is critical to test smart contracts because once deployed, they are immutable and will cost thousands of dollars to redeploy.
After all this internal testing is done, we then submit our smart contract for an external audit to determine if there are any issues or security loopholes. This is a very important process because it assures that the smart contract is safe and trustworthy. After that, we need to address all the audit findings. If all the audit findings are addressed, we then deploy the smart contract to the blockchain network.
In this case, the majority of the clients choose the Ethereum MainNet because of the higher liquidity, but Polygon is also gaining popularity because of the lower gas fees. Then the planting application is also deployed in the production environment, and when everything is up and running, we then start the turnover to the client by transferring the ownership of the smart contract. So that’s the useful standard process in developing a PFP NFT project.
The difference between PFP NFT project development?
Some projects would require smart contracts that deal with auctions and lotteries. This is not the usual smart contract minting where you just mint and randomize a pfp, not a contract. This would let their community be able to bid on certain PFP NFT dot art that is a limited edition or rare in nature. Additionally, they also have a lottery that allows the community to bid and then win NFTs based on the smart contract lottery.
This is quite intriguing because there are numerous opportunities for projects to develop, and they could potentially also serve their marketplaces with special benefits for NFT holders.
Ironclad marketing strategies for PFP projects NFT
As a basic element of every nft project, the security, optimization, and all the smart contracts running the testing are very important for the success of the project.
A proper marketing strategy is very critical for the success of an NFT project. We have seen a lot of new nft projects in recent months, and the solution to promoting an nft project in an effective way is to make use of proven nft marketing strategies. Some pfp nft marketing strategies are as follows:
Develop your NFT community
The foundation of your NFT business is a community. Therefore, the first step before submitting your artwork is to make sure that you have a strong team behind you. An NFT community provides a forum where you may share significant announcements in addition to advertising your offerings. You should always get involved in your community to keep it from falling apart. AMAs, Q&A sessions, and recognizing loyal members are a few methods for involving your community.
A great way to promote your pfp nft initiatives is through PR marketing. A great press release involves a lot of work. You must, however, enlist the aid of a seasoned PR firm if you lack the writing skills necessary to craft the announcement. Your pfp nft release date can be published on a variety of platforms. Use the PR techniques listed below to maximize your results:
- Offer a small airdrop as a thank you to your users so they will notice it.
- Get the right publishers’ attention.
- Focus on your market audience demography.
Airdrops play a crucial role in NFT marketing. As the NFT industry gets more competitive, marketers must come up with original strategies for promoting their products. This is where airdrops enter the picture. Here, you develop unique special offers and invite customers to purchase your NFTs at a discount. By employing this tactic, you can increase sales by spreading the word about your pfp projects nft.
Your promotion approach must include a pfp nft influencer marketing campaign. Influencers can persuade large audiences to support your pfp projects nft. Picking the right pfp nft influencer for your project is crucial, so you must be aware of this.
You can use influencer marketing to promote and sell your pfpt nfts. Choose influencers who are well-versed in your niche. Hire a skilled PFP NFT marketing company like TokenMinds to assist you if you lack the knowledge to find appropriate crypto influencers.
Employ bounty campaigns
In a bounty campaign, prospective investors fondly called bounty hunters work on your company’s behalf to promote it in exchange for a portion of your pfp projects nft tokens. It entails generating basic tasks for bounty hunters to complete and exchanging tokens for their services.
Bounty Campaigns concentrate on raising awareness for your PFP NFT projects so that you can invite as many people as possible to the token sale. It’s because those who take part in the bounty program are real influencers who genuinely support the project. Here are a few of these cryptocurrency bounty campaigns:
- Campaigns utilizing signatures (for instance, well-known forum users promoting your brand/logo in their signatures on sites like Reddit, and Bitcointalk).
- Telegram, Twitter, Facebook, Reddit, YouTube, and other social media campaigns.
- Campaign for content marketing (e.g., blog posts, press releases, newsletters, infographics, etc.
Takeaways from marketing strategies for PFP NFT
Focusing on your intended audience is the most crucial aspect of any marketing campaign. Who and where you market your project should be determined by your PFP NFT project.
Consider a scenario in which your next NFT project is centered on 3D models or vintage trends like punk, pixel, or animal skins. Simply advertise your project by finding influencers, PR experts, and advertising platforms that lean toward your project type and have your target audience.
The team at TokenMinds has created a podcast Crypto Business Show to help you learn how to price and package your project to benefit both you and your future project development plans. Listen to this episode for more information on PFP nft marketing strategies.