We all weather the storm best when we weather it together!
We live in stressful troubling times and nothing better to do on BellLetsTalk day than taking a deep breath, reflecting on life with the feet up and a crown and coke in hand!
I've been meaning to write another post about my time in NFTs (cause my goodness I have learned a lot and still have SO MUCH more to learn), but life is busy and there are only so many minutes in a day...1440 to be exact! I definitely envy those who have the time to spend in Twitter spaces and learn about NFTs and the incredible art, photography and artists out there! BUT at the same time, I so am grateful for my job that challenges me daily, have met so many incredible people through and have a stable income & retirement plan I can plan my life and adventures around!
Anyways I deflect on my reflection, so pull up a drink or a glass of water and prepare for my thoughts on ..NFTs...this is intended for anyone new to the NFT space, however there may be some useful information for anyone minting subsequent NFT art on the blockchain.
This is a loaded post, so be prepared...
Minting* with intention means you have thought about what you plan to mint and enter the NFT space before minting. See, listen, share and watch and learn from others. Support others. Here are some points you NEED to consider...
* Minting: process of listing art on the blockchain for sale
Spaces. Time and Effort
Twitter spaces, Discord and Clubhouse are the main apps to share and meet others (including collectors) in the NFT space. If you are new here, you really need to think about the following:
How much time are you willing to invest on meeting others, sharing your work and stories, etc?!?!
Think about that seriously and be honest with yourself. If you work full time, have a family, pets, busy life...set your expectations NOW. Most artists need to share their stories, talk about their art, host spaces, give back to the community in order to be known and have artists and collectors be interested in you and your work.
Schedule spaces into your life- pick chats you are interested in, find your people, DM others with the same interests about what spaces they have found that are suited for you, are beneficial, etc. and schedule them in. Be present, listen, talk and engage! Make connections. This has been the most rewarding part of NFTs, if you don't know it already, you will. There can be snakes but there are so many wonderful people I call friends and wouldn't hesitate to meet for an adventure in a heartbeat.
You are in this space because you love art and love creating art. Like most of us, it likely brings you peace, joy and gets you out on an adventure. Make sure you have the time to create, keep your joy and peace on top of daily life! Don't feel guilty if you can be there...prioritize your life, write it down and reference it ANY time you start to feel guilt or FOMO.
Over the past year I have kept postit notes in an area close by as daily reminders to what is important and what to keep in mind when dealing with daily life. It has been essential to dealing with anxiety and dealing with covid life of living from home 24/7 and stresses of this fast paced life.
Community
As mentioned above, there are so many different communities out there, find the one that works for you. Take the time to sit in spaces, join discords, chat in Clubhouse and find your people before minting. You will connect with so many like minded people that will blow your mind! Don't feel bad DMing people you connect with, if they don't message back...see below in set your expectations...don't take it personally. Your community is everything and your gateway to communicating your story and your art. Let it happen organically and authentically. You will hear this a lot in the space and it is 100% authentically true! ha
It is highly recommended to not mint anything to sell without introducing yourself to the community and letting others know you are here to stay and support others. A lot of collectors do not want to invest in you and your art unless you are committed to the space and prove you are a supportive member of the community. We are just in the beginning stages of Web3 and it is important to understand we are all trying to figure this out. I truly believe this is the future, however, there are a lot of kinks to work through. Conversations and actions need to happen. Be there and be a part of it. Ensure you share the art/images you love. Again be authentic and true to you and what you love.
It can be a weird space sometimes, but stay true to your peeps and you will do fine. Research people you are unsure of, you can typically see their history of activity or ask around, people are usually more than willing to help. Including me! Feel free to DM and if I have time, I will do my best to help out! :)
What does success mean to you? Set Your Expectations!
Think about what success means to you, set your realistic expectations NOW. What are you hoping gain by coming into the NFT space.
For me, I originally came in looking for a little extra income to help with travel. It's a dream of mine to go back to Iceland, Norway, Alaska and Europe. I live for travel and adventure, a little extra helps to achieve these dreams sooner than planned.
Things have changed a little since I started NFTs a few months ago. I now have a road map and a plan on how to distribute any earnings I make in this space. Something to think about seriously as collectors/ other artists want to know you are invested in the NFT community and are willing to put your ETH where your art is.
Giving back/ supporting charities, others in the NFT community and investing in yourself is IMPORTANT. Ensure you consider taxes. I am setting aside 50% for taxes and utility. Don't forget it will cost fees to transfer money back to your accounts. Make sure all this is considered, else you will be responsible for what you commit to.
My road map I have only shared so far to collectors : *
50% taxes, utility and minting fees
15% travel and chasing
10% back to the community
20% left as investment in crypto
5% local animal rescue charity
* I have already failed to follow already...I spent all ETH on purchasing other NFTs haha including my initial investment. This means charity (which still happened) and taxes have now come out of my personal income...so I have already invested more than my initial investment...stay true to your plan ha
At the end of the day, for me success means inspiring others, helping others through my experience in all areas of life and photography and maintaining a healthy mental health. I have a LOT going on in my life and don't have a ton of time to spend on investing in Spaces/Chatting.
There are some absolutely incredible images in the space, which has been very inspiring! And if I am honest with myself it as also given me (and many others I know) feeling the effects of imposters syndrome. Plan for it and how you are going to deal, because at some point it will likely happen. Again, set your expectations and stay true to them. Write them down and revisit them on the daily if needed.
I quit smoking after 18 years of smoking a pack a day. How did I do it? I made a plan and I stuck to it. Same thing applies here. Make your plan to deal with imposters syndrome, fomo and feeling like others may not be offering the support you were hoping to receive (and give yourself). Everyone in the space is feeling this and more.
Always remember everyone has their moments, so don't set your expectations for others...set your expectations for yourself, stick to it and be kind to others and to yourself! Life happens, but always remember, you never know what happened in their day...I digress once again. lol
Given what you can give, how do you want to be remembered? What is important to you? Think about it, write it down and adjust it down the road if it changes.
Strategy/Marketing
This is where I put my hands up in the air and run away! haha This is not a subject I can offer much on, as my experience is not on promoting myself! They say be "bullish" on yourself. DO IT, be you, be unique and believe in your work. This is not me, but if you want to succeed you need to be!
There are so many out there who have taken many courses and have a life of experience in this space (marketing)! Based on what you have written down from above, search out like-minded artists in the space who have had success, research what has worked and reach out and ask questions. The one thing about the space a lot of people are willing to offer is support and give free advice. Note...get scammed by those who want to charge an arm and a leg to promote you...they exist...be smart and again find your people!
Part of your strategy for dropping your first NFT should consider the following:
Platform
Do your research, there are so many platforms now. Some take some effort to figure out what works best for you. The NFT space happens so fast what is good this week, is replaced by something else next week. Some of the bigger name platforms out there are:
Foundation, Opensea, SuperRare, LooksRare (new), Rarible, Mintable, etc...
Research up and coming platforms and even get involved in some if you believe in it. This space is all about experimentation at the moment. It is all so new it will change freqequently, ask smart questions and take risks where you feel they are worth it. Don't be afraid to walk away if it doesn't feel right.
Currency
With all of the platforms a lot are tied into one or more specific currencies on the blockchain. ETH is most popular, but do your research again and pick a cryptocurrency that works for you and/or is common in your community...experiment try more than one. Never put more money into it this you are not willing to lose. There is no guarentee you will sell anyting and you could lose every last cent.
Markets go up and down. ie - 1 ETH when I started was worth $3700 CDN, it went up to $5000 and is not worth $3000. Price and invest wisely! If you are unsure...hold a space and discuss it with others.
Scarcity
How unique is your work? What is your story? Are there others out there with the same type of art/shots? What sets you apart from everyone else?
How are you going to find your voice in this space and stand out? Think outside of the box.
There are many ways to do this. I can't help you there, you need to figure that one all out on your own! Again, be in spaces, learn what sets the successful artists apart from others. Study, ask questions and understand and question your art.
Write your story. Be authentic. Be You!!!
Editions vs. 1/1 vs. Collections
Now that you have decided on a currency and platform (well maybe not since you JUST read the above paragraphs...buuuut you will), you need to decide on what and how you are going to present your art.
1/1s - means there will only be 1 of your art on the blockchain. 1 image that is placed on the a platform (ie- Foundation), that will only belong to 1 owner at a time. These are typically priced higher as they are rare and unique.
Editions allow you to sell several pieces of art at a time. Several copies of 1 image which means you have potential for several owners at once.
Editions were experimented with at the beginning of NFTs and came back again when artists who have a good floor price (floor price = the lowest price of their work ie - you have 2 images on a platform/blockchain, one at 1 ETH and another at 0.5 ETH - Floor Price = 0.5 ETH), but you want to offer a lower price to others who can't afford to buy one of their higher priced pieces. ie - With a Floor Price of 0.5, they add a 1/30 Edition for 0.1 ETH, if they sell all their pieces - that 1 image sells a total of 3 ETH. Now, if someone puts one of those onto the secondary market, their floor price now raises to that price.
NFTs are built for secondary markets, however, the NFTPhotography market hasn't sold a lot in the secondary market yet. But we are still new to this space and things can change on the daily. haha just when you think you have caught up...something new comes along!
Collections - Create meaningful groups of images as a collection. Put your best work out there. These can be 1/1s or editions. Think about your marketing strategy. You will be sharing your images/collections a lot. What do you want to see when you are doing this? Don't do too much at once or you and your collectors won't be able to keep up.
Collectors want to invest in a long term investment - that is YOU and your art they own. What message are giving out with your 1/1s, collections and Editions? This seriously about it and put yourself in their shoes when creating your collection. Presentation and marketing is EVERYTHING!
Pricing
This is where you have to be realistic, but do what is right for you and your intentions.
Pay attention to art/images that are in your genre on the space. Once again do your research and see what has sold, what is sitting and understand why. I have seen ok images sell for a lot of money, while incredible images sit untouched for low prices. A lot has to do with community and marketing, however, some get "lucky" and get discovered and shared by collectors or influencers. Take the time to do your research and develop your strategy. Putting in the time and energy COULD net you amazing results...but don't expect anything. Not to discourage you...but be realistic and understand the space.
Titles/Description
Give your work meaningful and unique titles and descriptions. Think about what would draw you into buying a piece of art. What would you like to know about it if you saw it on the shelf?
How did it make you feel? How did you capture that image? What extremes did you to go to to get that image?
Make whoever you are selling to feeeeel what you felt in that moment.
Once again put yourself in a collectors shoes, what would you want to know?
Be honest, meaningful and intentional. Your collections and images represent you. What are you/your images saying? Be expressive and be true to you!
Hold a Drop Party!
Something I never did, that has worked for so many. Ask your friends to hold a drop party for your Genesis/Collection, etc. This is a good way to get your work promoted and visible by collectors who are looking to purchase work. Big collectors will pop into different spaces. If they like you and your work...you may make a sale, you may sell out, or you may not make any sales...again, set your expectations low and be grateful for any successes you may receive. I believe hard work pays off. Sometimes you need to ask for a little help from your friends, this can be hard to do, but ca pay off. Swallow your pride and do it...I eventually will! haha Be bullish on yourself, cause no one else likely will...and if you do then you are the luckiest one out there with amazing friends!
NOW AFTER ALL THIS...AND IT'S A LOT, YOU DO YOU! Do your research, follow Agile methodologies - experiment, fail and do it all again. Find what works and most importantly pay attention to your mental health and stay true to what makes sense to you! I am (and the majority of the NFT community) is here and behind you wanting you to succeed!
Hope this has helped, if it has, please drop a comment or email, would love to hear from you!
