Thus far I have donated 35 BAT out of 65 BAT to Hive front ends or affiliated services with sites listed as Brave Verified Publishers. Today I added Splinterlands and STEM to the list of Hive Brave verified publisher sites I have donated money to this month. So now the list includes splinterlands Hashkings STEM weedcash naturalmedicine peakd and Leofinance. Making a total of 7 Hive frontends 5 BAT a piece 35 total BAT donated so far.
Now that that is out of the way I can get to the point of todays post Everyone wants to get into the NFT market these days. Given that I have sold hundreds of my own NFTs I have a better understanding of what works and what doesn't then somebody just starting out wondering why some thing isn't working.
Before I get into the consumer psychology aspect lets start with something basic,
Inventory and sales
You can think of your account like a store or website (it helps) by which I mean consider your NFTs as a impulse item of sorts like merchandise for a site or store something that while not why the customer is there may catch their attention.
Further more you wouldn't shop at a store that never sells or has sold anything to anyone. A collections schema at least on every NFT production service I used has a ledger that will let users explore how much the item is transferred or sold, how many exist how often it has sold or has been transferred, and how many accounts currently hold one or more from this collection.
The larger the number of sale the sellers account has made is also information that is easily found. How far above or below the profit margin an existing account has gone, Tis is why a lot of companies produce on one account and sell on another.
https://nfthive.io/ is a great source of this type of info on your account
If not obvious yet most of what I am referring to in this post are WAX based NFTs I produce and sell my collections through https://wax.atomichub.io/market
Here are some stats from one of my more popular assets
flat lining because resale is not occurring but I have sold over 20 so not bad for a capless collection that can be produced indefinitely.
Now the flip side of this can and will create price increases or decreases depending on how finite of a supply. A low Maximum production number NFT is one that people will usually spend more on.
For this rare type of asset its less an impulse item and more artwork of sorts with the markets subjective taste being the deciding factor.
This is why to new creators I say cheap is best this helps you feel out the market and build account information an transaction history
Fad or fomo
A lot of people avoid this type of market but there is a method to the madness, excluding any NFT with a legitimate use case In other words a use beyond just existing like a game or burn capability for new NFT creation, Staking, mining or rewarding collection completion feature the markets rather simplistic in its habits as a whole.
By which I mean taking a clinical approach and looking at the blockchain Art or collectable NFT market excluding the games and ect as stated above some patterns emerge.
Taking into account what did well on the ETH market with a slight variation on the concept usually a PNG image with an invisible background with an iconic subject matter and unique shape instantly recognizable.
These get even better in quality by adding ether dimensions or a Gif usually does best.
this tactic combined with a set number in the production at varying rarity does best for example these assets on WAX
I love what they have done with the asset above and this would be what your shooting for on high end assets anything selling for $1 or more.
Where as this asset is more a sticker vibe like a gumball machine toy or sticker less impressive the the example above and as a fellow creator I understand this can hurt to hear but sometimes we are barging bin I know it and embrace it.
Their assets only listed 3 times with 0 sales at 5 WAXP i sell my best work at 2 WAXP and something this Grade i would call a sticker at 0.03 WAXP or about $0.05 USD.
This is why i tend to evaluate my NFT ideas in one of two categories is it a fad something that is a passing interest or FOMO something people kick themselves for not having and this can be hard to discern. But by observing the market you can start to pick up on what tends to work.
4//20 air drop
Sorry to sound like a broken record about this but I'm just making sure all my readers know this 4/20 I'm doing my second NFT airdrop. First 42 people to leave their WAX wallet address on my Weedcash post on 4/20 Titled 4/20 airdrop get exclusive event only NFTs & a NFT joint with WAXP reward to burn.
What I'm smoking
Today I'm feeling lazy so though the other dispensary is better I fell into the habit of going to the usual place and I got gold leaf again.
https://wax.atomichub.io/explorer/collection/croniccards1
A strain with no known origin that's what you like from your weed a mystery
Free NFT single claim airdrop URL
The following link will reward the first lucky reader to click it with 5 free NFTs some white listed some not. After the URL is claimed once it will no longer be active
https://wax.atomichub.io/trading/link/42459?key=5KBQtwVkzSDrQ4jeSTJLxVyTieYFkX83ynLxCx12pSe1A5TDaNs
Please let others know once the link has been claimed it helps.
If your looking to purchase some of my NFTs I have 1,000s of white listed NFTs as well as my own two collections of weed stickers and cronic cards for sale here.
https://wax.atomichub.io/explorer/account/akyqy.wam