What Are the Struggles of Making an NFT Collection
The NFT market has been on quite a rollercoaster journey the past few years. Last year, organic NFT volume trading equated to around $24.7 billion despite a strong bear market, buoyed by a strong start and end of the year. This was similar to 2021, when NFTs went mainstream and became one of the hottest asset classes in both finance and the collectibles markets. As the market digests mainstream adoption and a slowing global economy, you might be thinking if now is a good time to make your own NFT collection, and what pain points one should consider when looking to incorporate web3 technologies into your brand, project, product, or service.
Technical Knowledge
Understanding the core technical aspects of NFTs is the first step. Remember, NFTs are NOT digital art. Rather, digital art has adopted the use of NFT technology as a way to create value and verifiability. NFTs can be anything, digital or non, that uses the unique non-fungible nature of NFT tech to buy, sell, trade and track the item using decentralized ledger technology. Blockchain and smart contract development can be difficult and time-consuming, but is at the heart of why NFTs are such a good way to solve a variety of problems in a multitude of businesses and industries.
Design
NFTs can be used for a variety of purposes. As digital art, collectibles, video game items, contracts, logistical tracking and more. For digital creators looking into using NFTs for creative purposes, creating visually appealing and unique NFTs is important to stand out in a crowded market. As NFTs become more mainstream, their volume and market cap increase, giving more potential for creators to earn through NFT, but it also means increased competition and need for creative excellence.
Making a striking and viral NFT collection is a balance of both creative excellence and technical prowess.
Marketing
Finding and reaching a target audience for your NFT collection can be difficult. As the NFT market is still relatively new and constantly evolving. Some independent artists have been wildly successful selling NFT simply by viral marketing, whereas other super conglomerate large cap industry leading companies have tried to incorporate NFT to no acclaim. Your NFT marketing needs to be authentic, balancing scarcity, value, aesthetic and marketing to drive demand. The last thing consumers like is when big businesses begin using NFT tech simply to drive profit. The adoption of NFT has to make sense to your product, and drive value towards the consumer as well as the producer.
Legality
Navigating the legal and regulatory landscape of NFTs can be complex, as the technology is still in its infancy, and many countries have yet to fully address it. Additionally, the strength of NFT is their use of decentralized ledger technology to help create immutable verification of things. The technology is irrefutable, but how each jurisdiction and country deals with these declarations could change.
Competition
With the increasing popularity of NFTs, competition in the market can be fierce, making it challenging to stand out and sell your NFT collection. Some leading digital artists have collaborated with the likes of Johnny Walker and Louis Vuitton to stand out from the crowd. These types of partnerships make the transition into NFT more accepted by a brand’s loyal fan base by linking them to well respected artists, which in turn mutually benefits that artists exposure.
Scalability
Ensuring that you can handle a high volume of transactions and users as your collection grows can be a challenge. Maybe you’re a videogame company looking to add NFT items to your game to increase player value, or a viral digital creator who has a 10-fold demand due to some recent viral fame. How you deal with scaling your work, and the speed at which you can adapt will be huge factors in your success. This is why finding a feature packed NFT infrastructure is so important in bridging your web2 brand into the web3 world.
Getting Your Creativity Back
Pikasso was created as that very bridge, a way for everyone, from independent digital artists to video game companies, to have a more efficient and cost effective way to begin making, marketing and selling their very own NFT.
Throughout history, there have been many great works lost by creative individuals who couldn’t navigate the technical aspects of their industry or market. Pikasso lets you take your creativity back, giving artists more time to work on what’s important, creating unique and beautiful NFT that create value and utility for the holder.
Pikasso helps to eliminate two key pain points when it comes to NFT, the scalability and technical learning curve that prevents many artists from using NFT technology. Pikasso’s No-code platform means anyone can easily mint and begin distributing NFTs. By taking care of the technical back-end through industry leading NFT infrastructure, artists and companies can more effectively begin using NFT technology, to deal with the ever changing volume and demand every business goes through. Pikasso’s easy to navigate interface and NFT collection generator mean you’ll never lose sight of the critical logistics of your business.
Additionally, many companies are established web2 companies looking to merge with web3. The Pikasso platform has an assortment of features that allow web2 companies to transition their web2 content into web3 to stay current with the newest trends.
Are you ready to begin utilizing the power and benefits of NFT to evolve and scale your business into the new digital age?
▶️ Learn more about Pikasso today at: https://www.pikasso.xyz/
Pikasso is a firebase infrastructure for NFT apps and games, creating an easier way for projects to create NFT, all on low-cost layer-2 ecosystems. Pikasso saves users the time needed by using a no-code platform to create NFT, with an improved UX/UI, and marketplace generator for each NFT project, all while bridging the gap between web2 and web3 content.
