An NFT roadmap is the developer’s plan which outlines milestones, short-term goals, and long-term goals for the project. Most NFT projects will have a publicly accessible roadmap which lets its investors know where the developer intents to take the project.
If you’re starting to get interested in NFTs, you’ve also encountered NFT Roadmaps. Roadmaps allow the project’s future commitments and visions to be easily presented to traders. Thus, traders have access to information about the progress of the NFT project in an easier way; on the basis of transparency, and can shape their investment accordingly. But, it should never be ignored that, most NFT projects continue to comply with their commitments in the following processes, a few of them go out of business.
What makes an NFT roadmap good?
There are so many promising projects in the NFT world. High-quality roadmaps to outperform projects in the market will backfire if not fulfilled. Providing users with a realistic and unobtrusive roadmap will always add more convenience to the progress of the project. It will also provide continuity to the project.
Do NFT Projects Need a Roadmap?
(Yes, NFT projects need a roadmap.) In addition, it is important for project managers to know why the NFT roadmap is needed and how they use it.
Roadmaps, which are offered for traders to learn about the visions that NFT start-ups aim to achieve and to assess the situation, have become a necessary launch model for all NFT projects over time. It also becomes the first key factor that buyers find necessary during research.
In 2021, most projects chose to use a roadmap. Thus, in addition to Twitter accounts, Discord accounts, and Whitelists, Roadmaps have become one of the four basic elements to encourage NFT buyers.
How to Plan an NFT Project?
We are all aware that 2021 is indeed a great year for NFTs. It has managed to get us all interested to the NFT world. Even, many of us started to think in our minds, “I wonder if I can do it too?”. But, what are the main factors to be successful in this field?
Here is what we have compiled for you:
COMMUNITY COMES FIRST
Whether your goal is to make money or grow your brand, your first priority should be your NFT project. You should devote enough time to your project and make plans with a team you are sure of. Also, you should frequently use the necessary social media tools to announce your project.
- Identifying the target market/market trend is the first thing an NFT startup needs.
- NFTs created for the designated market must have art-rich content. If they are created in line, they will attract more attention from traders.
CREATING A ROADMAP FOR NFT PROJECT
As we mentioned before, NFT roadmaps are the most important content that NFT buyers look at. The reason for this is that the roadmap outlines when and what you will be offering your investors in the future.
- A good roadmap should be realistic and clear to its users.
- It is a very important item for the investors to clearly explain how the team will achieve the set goals.
- What awaits buyers in the long run is also a very important issue.
- Paying attention to what key points promise users and whether they will be fulfilled is essential for progress. It is very possible to lose NFT investors if project’s commitments are not fulfilled.
Let’s continue our article by taking famous NFT projects as an example;
Bored Ape Yacht Club
The Bored Ape Yacht Club (BAYC) collection, which contains 10,000 NFTs, is currently the most valuable NFT collection. It was released by a group of four under the name of YugaLabs.
First sale was made for 0.0008 ETH, now, the floor price of the collection is 65 ETH. Undoubtedly, the main reason for their success is that they make their investors feel special with some advantages:
- Each piece in the collection is different and cannot be copied.
- BAYC’s other two collections, the Mutant Ape Yacht Club (MAYC) and the Bored Ape Kennel Club (BAKC). are available to investors presented before.
- Another reason for the popularity of the collection is that YugaLabs prefers to donate with some of its income. For example, BAYC owners only paid a 2.5 percent Gas Fee to own an NFT from the Bored Ape Kennel Club collection, which was later donated to charities for animals.
They published ther roadmap in September 2021.
Azuki has 351.000 followers on its Twitter account instantly. This collection made by ChiruLabs is also limited in number.
This collection, which currently has a base price of 10.27 ETH, was released in January 2022. They continue to present their clearly stated vision to their users in a direct and simple way with their Roadmap templates.
COMMUNICATION WITH INVESTORS
It may seem like a simple thing when it considered, however, it actually has a great influence on investors. Especially, communication tools such as Discord and Twitter are always be necessary for continuity to try to communicate with investors.
A poor communication model will cause the project to fail. Therefore, the project team should be carefully selected and they must be well-organized.
If you want to do an NFT Project, but you do not know where to start and how to plan and manage the process, as KRPT, we are with you at every point. We are just an e-mail away, contact us.