NFT Collaboration Marketing in 2022 - NFT Partnerships in-depth Guide

Despite the resistance that followed the popularity of the cryptocurrency industry, it is clear that cryptocurrency as a concept and economy is here to stay.

One of the aspects of cryptocurrency that has garnered traction and hype recently is the NFT concept. In the past few months, one of the concepts that have gotten the attention and interest of a lot of people is NFT.

NFT is an abbreviation of Non-fungible tokens and it refers to the representation of virtual intellectual properties such as pictures, music, art, and other forms of collectibles on blockchain technology.

As a result, it allows people all over the world, regardless of their location to exchange value for these intellectual properties.  

Apart from the fact that NFTs allows for the representation and transaction of intellectual properties on a decentralized platform, there is a huge amount of money and value involved in NFTs, and this is one of the reasons why it is very popular these days.

‍This article will touch on the concept of NFT collaboration marketing and how to go about it. 

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What is NFT Collaboration marketing?

NFTs thrive on hype. This means that you need to create awareness about your NFT project and ensure that your target audience knows about the project. This is regardless of the quality of your project or the utility embedded in the intellectual property you are putting on the blockchain technology.

If your NFT project has the best value in the world, as long as the necessary number of people don’t know about it, it is on the same level as projects with little or no value. This is where NFT collaboration marketing comes into play. 

NFT collaboration marketing includes the steps involved in creating the ideal awareness about an NFT project. NFT collaborations are when two different NFT collections collaborate for a whitelist giveaways.

This means, that WL giveaway participants will be able to get free whitelist spots for the NFTs that are hosting the giveaways. These NFT Collaborations are usually held on social media platforms, such as discord or Twitter.

Usually, the whitelist giveaway requires the participant to follow both of the NFT projects on either social media platforms, join their Discord communities and on special occasions, even fill out a form about the NFT collection, etc. 

It also involves having to carry out some tasks on the discord channel, such as inviting more people to the discord channel, creating fan art that helps amplify the hype about the project, and helping people with little difficulties regarding the project on the discord channel.  

WL Spot winners can get exclusive access to your pre-sale, giving them a chance to buy your NFT-s before the public sale, otherwise known as minting begins.

Typically, these NFT Collaboration WL giveaways last anywhere from 24 hours to 48 hours, during which participants must complete the tasks required to be eligible for the giveaway raffle.

To run these NFT collab marketing campaigns, you must reserve some whitelist spots from Your NFT. CoinBoosts recommends reserving at least 60-80% of your total supply for whitelist spot giveaways. This also helps ensure you sell out your entire collection since the NFT market is becoming more and more competitive by the day.

Why are NFT Collaborations important?

NFT collaboration marketing is one of the most popular strategies for marketing and creating clout for your NFT collections in 2022 because it involves working with the target audience that is going to buy and exchange the NFT. 

It includes a certain whitelist giveaway process that provides direct value for the giveaway participants. A whitelist is a special list that includes people who have early access to the exchange of the NFT, and the whitelist giveaway is a type of competition where people compete for a space on this list.

People who participate in the WL giveaways can gain free NFT whitelist spots just by completing some simple tasks, such as following or joining the Discord communities of both NFT collections hosting the collaboration.

These NFT collaboration marketing strategies are so popular because they are also mutually beneficial for both NFT collections. It helps show NFT buyers that the project is well-funded and has already collaborated with other well-established NFT projects. This NFT Marketing strategy is one of the best ways to quickly grow an initial base of community members to your NFT discord channel or to get Twitter followers for your NFT collection.

3 Methods to getting NFT Collaborations

There are three main methods to get NFT collaboration marketing for your NFT collection. All of these methods require that you already have a Discord or Twitter account set up, so you can direct the participants to complete tasks in your communities.

Method 1: Arrange an NFT Collaboration with Other NFT Collections

This method is DYI, so it is the most time-consuming one, however, it’s also the cheapest since you are doing everything yourself. For this method to be successful, you also need to already have an established NFT collection to get in touch with other NFT collections.

These collaborations have to be mutually beneficial, so your project must be well-established for anyone to even consider partnering with you for an NFT collaboration.

If you are still a small NFT collection, then you might have to pay other NFT collections a flat crypto payment to run the collaboration. But if you are already paying for the collaborations, then it might be better to consider methods 2 or 3 described below.

The following are the steps involved in this method; 

1. Reach out to other NFT Collections on Twitter or Discord. Make sure to include a proper introduction to your NFT Collection. 
2. Offer to run a WL giveaway. Specify if you want to run the giveaway on discord or Twitter and specify the tasks participants must complete. Also, make sure to mention how many WL spots you want to reserve for the giveaway.
3. Created the giveaway by making a post on Discord or Twitter
4. Send out the WL Spots! Once the giveaway is complete, you have to send out the WL spots to the winners. Typically, the winners will reach out to themselves, by, for example, opening a Discord support Ticket, or messaging you on Twitter. Winners will send you their crypto wallet address after which you will give them access to the pre-sale of Your NFT collection.

Done! Simple, right? Maybe not.

Method 2: Hire a Collaborations Manager to Host an NFT Collabs

This one is an easier method since you are outsourcing it, however, it also requires a substantial budget. First, you must do market research on NFT Collab managers.

You should look for well-reputable NFT collaboration managers, who have already done NFT Collabs for other NFT Collections. You can do this by joining Discord channels of established NFT collections.

In the NFT Discord channel sidebar, you will be able to see who the collab manager of the NFT collection is. Reach out to them regarding your inquiry and ask for their pricing.

When reaching out, be as concise as possible. These collab managers are typically very busy and receive a lot of offers, so you either must have an established NFT project or you need to be able to meet their pricing. 

Make sure to ask for proof of previous work and if possible, even some case studies. Seeing proof of previous work is essential to avoiding scammers and fraudulent collab managers.

If it feels too good to be true, it probably is. If a collaboration manager claims they have worked with a large NFT collection before, you should always double-check by contacting the NFT collection they claim to have worked with yourself and asking for proof if they did indeed work with the NFT collaboration managers as they have claimed.

While on the lookout for collaboration managers, you need to avoid working with low-tier collaboration managers!

Below are some red flags to look out for when finding collab managers for your NFT Collaboration marketing campaign:

• Bad grammar or poor English skills. This is a very important factor as it deals with communication which is one of the hallmarks of a good collaboration manager. A collab manager that cannot communicate in fluent and impeccable written English will have a hard time communicating with the community and this may affect the hype and clout generated for the project
• Low pricing. This is a sign that the collab manager does not receive a lot of business and thus they ask for low pricing. This is not a sacrosanct rule, and this is why you should ask for their previous work to be sure. 
• Avoid collab managers from third-world countries. Third-world-country collab managers might seem enticing due to their low pricing, however, this is no place to cheap out. 
• Inconsistent communication. Collab managers need to be active at all times and reply fast. Fast communication is essential to hosting a successful NFT collab marketing campaign.

How much do NFT collaboration managers charge?

Typically, NFT collab managers charge anywhere from $1 to $20 000 per collaboration. Collab managers with high pricing are usually able to provide better NFT collaborations with projects that have larger communities, and thus provide your collection with better reach with the giveaway. 

If you are a new NFT collection with a small budget, you should find a collab manager who charges around $250 to $750 per collaboration.

How do I pay the collab manager?

Collab managers typically accept payments in BEP20 or ETH cryptocurrency. Payments must be made upfront and therefore there is always some risk involved, thus, you should validate the collab manager before proceeding to make the payment.

Method 3: Outsource NFT Collaborations to NFT Marketing Agency

This is the best method by far. By outsourcing NFT Collaborations to an NFT marketing agency, you can instantly get access to a large list of well-established NFT collections, because these agencies have already worked with hundreds of NFT collab managers and they have a wide network of successful NFT collections to choose from for your NFT Collaboration campaign.

Furthermore, there are no risks of getting scammed. By purchasing NFT collaborations from an agency, you are working with a registered company with a proven track record, rather than paying a random person on the internet.

When contacting an agency, ask for case studies and proof of previous work. This will give you peace of mind and allow you to be confident with the NFT collaboration service.

As a NFT marketing agency, arranging collaborations between NFT projects is something we do on a daily basis. Feel free to reach out to us.

How do NFT Collabs work with CoinBoosts?

We will connect you with our in-house NFT collaborations manager representative who will handle your collaboration campaign. We will kick things off with an extensive market research phase. Within 1-2 days, we will research similar NFT collections to yours.

For example, if your NFT collection is a P2E collection, we will also find other projects for you within the P2E Niche. That way, the audience of both NFT collections overlaps and thus provides you with the best results for the NFT collaboration marketing campaign.

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Once we complete the market research phase, our collaborations manager will provide you with a list of potential collections with similar target audiences to collaborate with. You are then able to modify and revise the list as you please. When you have approved the list of projects to collaborate with, we will proceed with arranging the collaborations.

The involvement of the NFT Marketing Agency makes it very easy to get collaborations going as you personally do not have to stay connected to over 50 Discord server owners, communicating daily and having to deal with inconsistent collections.

Learn more about our NFT Collaborations Service.

How long does it take to arrange NFT collaborations?

The entire NFT collaboration process usually takes between 7-10 days, however, it’s always adjustable. If you want the collaborations to take place in 1 day, or within 30 days, then we can always do that and match your expectations.