The statistics and the investment amounts of NFT buyers nowadays have been increasing. According to Nonfungible.com, in 2021 alone, NFT buyers generated a total of $5.4 billion in profits. They did it through sales of the tokens. Trading in nonfungible tokens hit $17.6 billion last year, an increase of 21,000% from 2020. Yet, plenty of NFT projects pop up in the marketplace overnight. So, it’s hard for brands and people to build one that’ll break through the noise.
For every successful NFT collection, dozens fail to capture anyone’s attention. Most of the time, that’s because NFT marketers forget to think about the whole customer journey of the buyer. Instead, they only think about the initial sale.
Why do NFT buyers purchase NFTs in the first place?
According to Colormatics, NFT buyers go in for the buy for five main reasons, that split them into five categories.
First of all, there are the NFT Flippers. They want to be the first to know about the next hot project and you can bet they are there for the drop. They’re driven by the desire to buy low and sell high, to make a profit.
Secondly, there’s the Collectors category, who want a coveted historical piece. Unlike the NFT Flippers, for the Collectors, the act of buying the item isn't a financial investment decision.
The third category, the Early Adopters, were the millennials who were already involved in Cryptocurrency. Their buying motivation is driven by the willingness to financially support the art they love.
The fourth category of NFT buyers is called the Early Mainstream. They saw a benefit in purchasing NFTs and rushed to cash in on the spoils. What matters to them is to ride the wave because they want a piece of this new market.
And the fifth category of NFT buyers is the Big Brands, such as Taco Bell, Coca-Cola, Microsoft, and Nike. They use NFTs as an opportunity to interact with and better understand the audience in this emerging digital market.
Thus, what are NFT buyers after – and how can your project respond to that need?
If your NFT project only addresses one out of five NFT buyers categories, it means you’re overlooking their customer needs. Along with that comes the risk of losing your so-called target audience.
The customers are ever-evolving and the categories they can be split into are fluid and interchangeable. Thus, your NFT project needs to include something to hook them at every step they take throughout their customer journey.
As BeInCrypto puts it:
“The best collectibles don’t just offer exclusivity (“I’ve got it and you don’t”); they also bring something extra that reminds fans of why they are fans in the first place. It can be unseen content, like production art or behind-the-scenes footage. The NFT can be access to a real experience, like a limited-audience webcast or live appearance. It can be new story content that adds to the creative universe of the property, or lets fans participate in that world.”
So, who is good at keeping the NFT buyers coming back for more right now?
For the market to evolve, there needs to be something special for fans across every stage of the journey, from awareness to ownership. After a quick search online we found an interesting, new project called Crypto Thots that does just that through their roadmap.
Being a multi-chain NFT marketplace flow with Ethereum, its features include account creation and edition, NFTs, timed auctions, royalties, messenger, personalised activity feed, and much more.
And what this means for the NFT buyers is simple. Not just an NFT buyer, but also part of an interactive community!
Emerging through their roadmap, you’ll be making moves towards the final stage: Decentraland Club. By then, you’ll already have access to a 3D NFTs collection, granted access to metaverse parties, giveaways, and a game introduction.
How NFT projects who address their NFT buyers throughout every stage of their customer journey will evolve now that interactivity is skyrocketing in the metaverse is yet to be determined. Nonetheless, here at CryptoDaily, we are excited to see how user behaviour shifts with the introduction of more NFT projects offering access to like-minded communities and virtual access to them.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.