Proven NFT Strategies for Profitable Business
Written by  Daisie Team
Published on 9 min read


  1. Research and select popular NFT marketplaces
  2. Identify and invest in valuable NFTs
  3. Create and sell your own NFTs
  4. Build brand awareness through NFTs
  5. Engage with the NFT community
  6. Leverage NFTs for innovative marketing
  7. Keep up-to-date with NFT trends
  8. Manage risk in the NFT market
  9. Navigate legal issues surrounding NFTs
  10. Measure your NFT investment success

Many folks are asking, "Is it possible to build a profitable business around NFTs?" The answer is a resounding yes! Non-fungible tokens (NFTs) are digital assets that represent real-world objects. They are making waves in the digital world, and savvy entrepreneurs are capitalizing on this trend. This blog post will guide you through proven strategies to build a profitable business around NFTs.

First things first: you need to know where to go, right? Just as you wouldn't open a shop without choosing the right location, you can't dive into the NFT world without knowing the popular marketplaces.

Key marketplaces for NFT transactions include OpenSea, Rarible, and Mintable. OpenSea, for instance, is considered the eBay of NFTs — a vast marketplace where various types of NFTs are bought and sold. Rarible, on the other hand, is well-liked for its user-friendly interface. Mintable is famous for allowing users to create and sell their own NFTs with ease.

Now, keep in mind that different marketplaces cater to different types of NFTs, and the audience varies. For instance, NBA Top Shot focuses on sports collectibles, while CryptoPunks targets digital art enthusiasts. It's important to align your business with a marketplace that fits your niche.

Before you jump in, spend some time exploring these platforms. Understand their fee structure, ease of use, and type of users. This step will help you choose the right marketplace and is a stepping stone in building a profitable business around NFTs. Remember, knowledge is power, even in the NFT world.

So, is it possible to build a profitable business around NFTs? Absolutely. And selecting the right marketplace is your first step towards that goal.

Identify and Invest in Valuable NFTs

Once you've chosen a marketplace, the real adventure begins: identifying and investing in valuable NFTs. This is similar to treasure hunting, and just as exciting.

But how do you determine the value of an NFT? Here are a few factors to consider:

  • Authenticity: An NFT's value largely depends on its authenticity. Ensure the NFT you're eyeing is original and not a duplicate. The beauty of blockchain technology is that it makes this verification process simple and transparent.
  • Scarcity: Just like diamonds, the fewer there are, the more precious they become. Limited-edition NFTs or those from renowned creators often fetch higher prices.
  • Utility: Some NFTs offer additional benefits to their owners, such as access to exclusive content or events. These utility NFTs can command higher prices.

Remember to do your homework before making a purchase. Look at the past sales of similar NFTs, research the creator, and evaluate the overall demand. Don't let the excitement get the best of you; even in the digital world, patience is a virtue.

So, back to the million-dollar question: is it possible to build a profitable business around NFTs? Certainly! Identifying and investing in valuable NFTs is a smart way to do so.

Create and Sell Your Own NFTs

Another exciting avenue in the NFT realm is creating and selling your own tokens. It's like opening your own digital art gallery, but instead of paintings, you're selling NFTs. It's a thrilling prospect, right?

But before you dive in, here are a few things to consider:

  • Choose Your Niche: Just like in any business, carving out a niche for yourself can be a game-changer. Whether it's digital art, music, collectibles, or virtual real estate, find something you're passionate about and create NFTs around it.
  • Quality Over Quantity: It's tempting to churn out multiple NFTs in hopes of making quick profits. Resist this temptation. Focus on producing quality NFTs that provide value to the buyers.
  • Understand the Costs: Remember, minting NFTs isn't free. You'll have to pay a 'gas fee' to the blockchain network, so factor this into your pricing.

Once your NFT is ready, it's time to sell! List it on the marketplace you've chosen, set your price—usually in Ether—and you're off to the races.

So, is it possible to build a profitable business around NFTs by creating and selling your own? Absolutely! With creativity and a strategic approach, you can turn your digital assets into a profitable venture.

Build Brand Awareness Through NFTs

Now, let's talk about another side of NFTs that impacts your profitability—using them as a tool to build brand awareness. Yes, you read that right. NFTs aren't just digital collectibles; they're also an innovative way to market your brand.

Think of it this way: When a customer purchases your NFT, they're not just buying a digital asset. They're buying a piece of your brand. So, how can you use NFTs to amplify your brand's visibility? Let's dive in:

  • Unique Brand Assets: Start by creating NFTs that embody your brand's values and story. This could be a digital artwork, a music track, or even a branded virtual property. The more unique and engaging, the better.
  • Engage Your Audience: NFTs offer a fantastic way to engage with your audience on a deeper level. Consider offering exclusive benefits to your NFT holders, like special access to new products, discounts, or VIP events.
  • Collaborate: Partner with well-known artists or brands to create limited-edition NFTs. This can help you reach a broader audience and increase your brand's visibility.

Maintaining a strong brand presence through NFTs can indeed be profitable. After all, a brand that's top-of-mind is more likely to see increased sales and customer loyalty. So, is it possible to build a profitable business around NFTs by enhancing brand awareness? You bet!

Engage with the NFT Community

Next on our checklist is to engage with the NFT community. You might ask, why bother? Here's the thing—NFTs are more than just digital assets, they're a whole community of enthusiasts, collectors, and creators. Engaging with this community can help you understand market trends, identify valuable NFTs, and even create your own successful NFTs. Let's explore how:

  • Join Online Forums: This is like dipping your toes in the NFT world. Forums like Reddit or Discord host a wealth of information and are a great place to start your NFT journey. You can learn about the latest NFT trends, get advice from seasoned collectors, and even promote your own NFTs.
  • Attend NFT Events: These can range from online webinars to real-life conventions. They're an excellent opportunity to network with other NFT enthusiasts, learn from experts, and get a real feel for the market pulse.
  • Collaborate with Other Creators: If you're creating your own NFTs, consider collaborating with other creators. This can help you tap into their audience, learn new techniques, and create more engaging NFTs.

So, is it possible to build a profitable business around NFTs by actively engaging with the community? Absolutely! Remember, the NFT market is driven by its community. Understanding their needs and interests can give you a significant edge in this digital gold rush.

Leverage NFTs for Innovative Marketing

Let's talk about using NFTs in a slightly different way. Instead of just buying, selling, or creating them, have you considered using them for marketing? This novel approach can give your business a competitive edge, and yes, it's another answer to the question, "Is it possible to build a profitable business around NFTs?"

  • Enhance Customer Engagement: NFTs can act as exclusive digital collectibles, which can significantly boost customer engagement. For instance, you can create NFTs that represent limited-edition products or VIP access to events. This creates a sense of exclusivity and can drive customer loyalty.
  • Strengthen Brand Identity: NFTs can be anything—artwork, music, virtual real estate, and more. By creating NFTs that align with your brand identity, you can strengthen your brand image and connect with your audience on a deeper level.
  • Open New Revenue Streams: By selling branded NFTs, you can create a new revenue stream for your business. This can be especially lucrative if your NFTs increase in value over time.

So, by using NFTs as a marketing tool, you're not only promoting your business but potentially creating a profitable venture. Innovative, right?

Now that we've covered how to leverage NFTs for innovative marketing, let's move on to the importance of staying current with NFT trends. Your ability to build a profitable business around NFTs can greatly benefit from having your finger on the pulse of the latest happenings in the NFT world.

  • Stay Informed: The NFT market is dynamic, with new developments and trends emerging regularly. Staying informed about these changes can help you make smarter decisions, whether you're buying, selling, or creating NFTs.
  • Spot Opportunities: Following NFT trends can help you spot investment opportunities before others. For example, if there's a sudden surge in interest in a particular type of NFT, you can be one of the first to invest or create similar NFTs.
  • Adapt and Evolve: Keeping up with NFT trends will allow you to adapt your strategies as the market evolves. This adaptability can be key to maintaining profitability and staying ahead of the competition.

Following trends can be as simple as reading NFT news, participating in online NFT communities, or attending NFT conferences. In the ever-changing world of NFTs, staying up-to-date is not just beneficial—it’s necessary for success.

Manage Risk in the NFT Market

Managing risk is a key factor when it comes to any investment, and the NFT market is no exception. If you're wondering, "is it possible to build a profitable business around NFTs?", it's crucial to understand that this involves navigating a marketplace that can be both exciting and unpredictable.

  • Don't Put All Your Eggs in One Basket: Diversify your NFT investments. This doesn't mean buying every NFT you come across. Instead, consider investing in different types of NFTs from various categories and creators. This way, if one investment doesn't pay off, others might.
  • Do Your Homework: Knowledge is power. The more you know about the NFT you're investing in, the artist behind it, and the overall market conditions, the better equipped you are to make informed decisions.
  • Set a Budget: Determine how much you're willing to invest in NFTs and stick to it. Remember, it's possible to make a loss in any investment, so never invest more than you're willing to lose.

While the potential for high returns may be tempting, always remember that all investments come with risk—so proceed with caution and patience. This way, you can build a profitable business around NFTs without unnecessary financial stress.

When you ask yourself, "Is it possible to build a profitable business around NFTs?", you also need to consider potential legal issues. As NFTs are fairly new, legal frameworks around them are still developing. Here are some points to keep in mind:

  • Ownership Rights: Buying an NFT doesn’t mean you own the rights to the work. You simply own a token that proves you have the original copy of that work. For example, if you buy an NFT of a digital painting, you don't get the copyright—you can't reproduce it for profit.
  • Intellectual Property: Creators need to be aware of intellectual property rights when minting NFTs. Using someone else's work without permission can lead to legal issues.
  • Regulations: As with any business, complying with local and international laws is critical. This includes tax obligations, privacy regulations, and more. Always consult with a legal expert if you're unsure.

Don't let potential legal issues deter you from exploring the NFT space. As long as you do your due diligence, you're on the right track to building a profitable business around NFTs.

Measure Your NFT Investment Success

So, you’ve embarked on this journey, and naturally, you're wondering, "Is it possible to build a profitable business around NFTs?" To answer this, you need to track and measure your NFT investment success. Here’s how:

  • Return on Investment: Calculate the return on your NFT investments. Subtract the original cost of the NFT from the current market value, divide that by the original cost, and multiply by 100. This gives you a percentage—your ROI.
  • Market Trends: Keep a close eye on the NFT market. Are prices generally rising or falling? Are certain types of NFTs more popular than others? This can help you make informed decisions about buying and selling.
  • Community Engagement: This might sound unusual, but in the world of NFTs, community engagement can be a good measure of success. Are people talking about your NFTs? Are you seeing positive engagement on social media?

Remember, building a profitable business around NFTs is not an overnight endeavor. It requires patience, strategy, and constant learning. So, measure your success, learn from your mistakes, and keep going. You're on the right track.

If you're looking to capitalize on the NFT trend and turn it into a profitable business, we highly recommend checking out the workshop 'Sell Your Creations As NFTs' by Tom Glendinning. This workshop will provide you with proven strategies and insights on how to successfully sell your creations as NFTs and maximize your profits in the digital art market.