Learn how to launch a NFT project within a month
Are you intrested in launching your own NFT project? Launching an NFT collection can cost as little as $500 and have an incredible ROI. Remember while reading this, the less experienced a person is, the more it will cost.
Hundreds of projects are launched a month on different chains. In 3 weeks, there have been 300+ Aptos projects launched.
Launching a project is easy as ABC
This article is a guide on how to create an NFT project within a month on the Ethereum or Solana chain. These steps may be done simultaneously, you do not necessarily need to have finished artwork nor a well-written whitepaper (business plan) to start the project.
Topics covered:
- Brand/Art
- Social Media
- Choosing an ecosystem/launch pad
- Whitepaper & Utility
- Team Members
Brand/Art
First things first, the art concept needs to be decided to build a brand. Most projects that do well, have art that can be used as a profile picture (pfp) on Twitter. Animal pictures tend to do best!
Founders can either: find an independent artist(s) on Fiver to create 10,00 pictures, they can get an NFT agency, or create their art. A collection of NFTs can be easily created by AI (Artificial Intelligence websites). NFTs can also be pictures taken by people on smartphones. All they have to do is go to a website and pay a fee for both options!
NFT projects have traits. Which are attributes that distinguish one picture from the other. These traits can be a type of clothing/jewelry, smile or hair style and etc. Usually, artists ask for a type of base character and what kind of traits the founder is looking for before starting.
When deciding on the size keep in mind that collections can be small or big. There is also the possibility of not selling out and cutting the supply, keep that in mind. The bear market is rough.
Social Media
A Discord, Twitter and a website is all a project needs. An effective community needs to be able to noise on crypto Twitter (ct). It is vital to have a Discord, some projects opt to make them private and only let x amount of people join to create hype. Engagement on both of them are a critical factor when considering investing into a project.
Effective Twitter campaigns consist of whitelist giveaways, collaborations with well-established projects/influencers, getting on Twitter spaces and posting memes.
A website is also not necessary at the start of a project but will be needed after mint. Again, founders can either pay a NFT agency to create it, hire a free-lancer or can build from the ground up on WordPress.
Website domains can be anywhere from $15 – 1000+ USD and hosting can cost as a little as $10 dollars a month.
Choosing an Ecosystem & Launchpad
The process of turning a JPEG into an NFT is simple. Depending on the ecosystem, it is a matter of going to a website such as the one listed below and paying a fee of $0.02 Sol. This is called minting. Paying this fee automatically creates a smart contract on that ecosystem, which will ensure that the NFT will be traceable.
Users will need a crypto wallet to hold their collection in as well!
Solana Minting Sites:
- FoxyMint | Famous Fox Federation | The most famous NFTs on the blockchain (famousfoxes.com)
- SolSea | Create NFTs
Solana Wallet:
Ethereum Mining Sites:
Ethereum Wallets:
Launchpad
Some launchpads such as Bifrost and Magic Eden offer tools such as a whitelisting tool for wallet collection. Their fees are worth the attention, they have thousands of users visiting every day. Launching with them also prevents the hassle of having minting issues on release day. They can also set the royalties on them.
Having a third party create a custom mint site or a project can have several complications. For example, someone exploited a project (Tokyo Saints) and minted over 200 NFTs for free and floored the marketplace with them which resulted in the owner having to refund $20,000 USD.
Solana Launchpads:
Ethereum Launchpads:
Whitepaper & Utility
A whitepaper is a document that outlines the business plan. They can be PDF pamphlets, PowerPoint slides, or an article on Substack.
Some projects delay this information until they sell out. But it is necessary, it will state how the mint funds will be used, timelines of their utility, and an in-depth review of their Tokenomics.
Utility can come in different forms. Some projects are gambling sites, NFT marketing agencies, News outlets, t.v shows, offer tech services and everything in between. Usually, projects launch their own SPL token (sub-token of the main cryptocurrency such as Ethereum). And rewards holders who lock their NFT “stake” with their social currency.
There are plentily of projects that can build the infrastructure of these mechanics and hand it off to someone else.
Some projects are completely just art. Collecting 1/1 art pieces is a big thing in the space.
Team Members
Key roles needed for a successful project are:
Discord Moderators: Having people in different time zones helps keep the community alive. They are needed to prevent scam links, host games, and handle support tickets.
Alpha Hunters: Someone who seeks whitelist collaborations with other projects.
Developers: Usually the highest paying position. They usually code with program called Rust. Agencies can be outsourced for work as well.
Advisor: Someone who can talk to Launchpads, and influencers, help with whitelist allocation, mint details/price, and can help raise funds. They can help decide the direction, who to get involved, host Twitter spaces and so much more.
Final Thoughts
Launching a project in one month is possible. By following these steps and tips, you can create a successful and rewarding NFT project. That is why many people do them and run away with the mint funds. People in the space enjoy getting scammed, it is a part of their culture.
A couple of hundred dollars can get the project started, however, post-mint, everyone is going to expect to get paid a salary. It is extremely easy to find people who want to start a project. The space is filled with enthusiastic entrepreneurs.
