The Power of NFT Content Drops

Supercraft Academy
June 28, 2022

As non-fungible tokens (NFTs) continue to grow in popularity, questions arise in the minds of creators, especially writers, about how to get the best out of NFT content drops.

First off, let us understand what an NFT drop is.

An NFT drop is nothing but the exact date and time of the release of a particular NFT. It may also contain the price of the NFT at the time of launch. Typically, NFT drops have purchase limits, which means, you, the creator, can only create so many NFT drops at one go. This helps your early readers gain access to the special edition NFTs that you provide at the time of launch.

NFT drops were first created in the gaming world, where buyers could gain access to special in-game privileges by purchasing NFTs at the time of their launch. But now, the benefits of NFT drops have spread well into the content world.

So, how do NFT content drops benefit you as a writer? Read on to find out what you can do with them.

Create Mystery and Scarcity Around a Product Launch

Suppose you want to release a novel. You have done all the hard work and begun sketching your characters and your plot line. How do you get your readers excited about the upcoming book?

Book promotion through events used to be the go-to option so far. But now, with NFT drops, you can create more suspense around the launch of your book.

How? Well, there are multiple ways.

One way is to create NFT drops for a special chapter. Only NFT holders would get access to that special chapter. This could be one of those chapters of your book that intrigues the readers to find out what happens next.

Another option is to create a buzz around some of the leading characters in your book. And then create NFT drops to match the specialities or props of those characters, for example, the special twin wands of Harry Potter and Lord Voldemort.

Some NFT drops can also indicate that you are launching only limited copies of your book with a bonus chapter. This creates scarcity around the book so that crowds throng to get their hands on the first available NFTs!

Improve Sales Volumes

NFT content drops are designed so that a specific group of people, or the early backers of your work, get exclusive access to your content. But how does this increase sales?

The value of NFTs continues to rise as original collectors of the NFTs resell them at a secondary NFT marketplace. This means that whoever had purchased NFTs from your original drop continues to make money even after the drop is over.

For instance, if you had created an NFT drop for a secret chapter of your book and 300 people bought them, each of these 300 people can sell their NFTs at a higher price to bidders.

And every time they do that, the value of the NFT increases, thus increasing the overall sales volume of your actual book.

Think of a physical book that has been resold at a used-books market. This is similar except the value of resold books lessens for the physical books while in the world of NFTs, it increases.

And you make revenue every time.

Explore Avenues for Making More Money

The traditional way of making money by writing books is painfully slow and limited. A traditional publishing house has to pay a lot of middlemen after the successful launch of a book. There are typically delays in the payment process, too.

After all of the laborious and sleepless nights you invested as a writer to come up with an exciting novel, you barely get about 10% of the total sales, most of the time even less.

With the advent of Web2 technologies such as social media and e-commerce websites, many writers thought they would probably now get their dues.

The royalty increased to an average of 25% through these platforms but writers now had to wade through complex platform algorithms to get their fair share.

Thanks to NFT content drops based on Web3 technologies, authors can finally look at other avenues to make money from their written works.

It’s all embedded in the smart contracts of the NFTs, which makes payouts immediate.

And you get to decide how much payout you would get for your book, which most of the time, can be 80% or higher as most of the middlemen are eliminated.

All you have to pay for are NFT minting charges, also known as gas price. If you use Supercraft, minting is free.

Build Reader Communities and Grow Fan Following

Your first NFT drops can go a long way in building a community for your readers. But how does a new author build a fanbase in the first place?

For that to happen, you may have to do some legwork and build your readership based on existing Web2 platforms, such as Twitter. #NFT is usually trending on Twitter and you can take advantage of this trend to post about your upcoming NFT content drops.

Another channel is Discord, which hosts an NFT community that you can join and talk about your NFT designs, NFT utilities, drop announcements, and much more.

Or, you can simply use Supercraft, a platform that offers writing, design & publishing tools to writers / creators to create their own website, build a paid fan / reader community, publish episodic content, create NFT drops and crowdfund their creative works. And all of this is protected by smart contracts on blockchain, which prevents piracy.

Connecting Directly with Readers

Every time you create an NFT content drop, you make it a little bit easier for your readers to connect directly with you. Every NFT holder, in this case, a reader, buys an exclusive copy of your content, whether it is a book, a chapter, or character props. This makes them your backers, your fans, and your supporters.

These are the people who make or break your creative writing pieces. If they like your work, they sell it to other people and your readership grows. As an author, there are thousands of reasons you need to engage with them and keep them happy.

Previously, such direct conversations between authors and readers were unheard of. But now, your very own NFT drops can create this opportunity for you.

All you have to do is reach out to your community of NFT buyers and make them feel like they are a part of your work. You can also converse with them and allow them to participate in your book launch events and even ask them to be a part of your next storyline.

Moreover, you can keep track of who buys and reads your books and use this information to target them as the audience of your next release.

All of this can be achieved through more NFT content drops that you can create regularly.

Global Touch to the Creator Ecosystem

Creativity has no borders, whether it is painting, writing, music or even coding - creators are equal in all parts of the world.

Alas, in the traditional way of selling your creation, borders have always come in between. Writers have been affected by geographies as much as any other creator.

Selling printed books cross-country often requires a staggering amount of additional expense on the author’s end. And even in the e-book world, things aren’t better. Most e-commerce websites sell books to limited geographies and even when they do make it global, there are disparities in price ranges.

Fortunately, authors can now create NFTs to engage readers from across the world on the same platform. When you create NFT drops for your piece of writing or any creation, they become equally available to buyers from anywhere in the world.

The onus of conducting drops fairly is on you, the creator. And there are standard formats available that you can use to ensure readers across continents get access to your work.

Facilitate New-Age Marketing Strategies

You no longer need to take the help of aggressive marketing tactics for your published works, all thanks to the new-age marketing strategies facilitated through NFT drops. In this new world of Web3 tools, the only work you have to do around marketing is building your fan base, aka, your readership.

And once you have your first set of readers, they do the marketing for you. You conduct NFT drops, your readers buy them, and then they sell them to other readers.

Thus, more and more people come to know about the value of your written work.

All of this happens at a fast pace. Also, many portions of this new-age marketing are fully automated, including payouts, smart contracts, and more.

In the traditional world of writing, an author has to market each piece of work separately, incurring costs at every juncture of the marketing process. But with NFTs, authors only have to build a fan base once. It continues to grow with the resell of NFTs and the sale of new NFTs.

All you have to do as a writer is continue to churn out excellent pieces of work to which your ever-growing readership will always look forward.

NFT Superpowers Have Only Just Begun

Whatever we discussed around NFT content drops today is only the tip of the iceberg. Utilities of NFTs are growing at a rapid rate and so is their real-world value. Learn more in our blog, 'NFT Ticketing'.

As Web3 technologies continue to advance, the coming months and years have the potential to reshape the world of authors and their readers. This is quite an adventurous time to be a writer.

You can play around with cool NFT designs, you can invent new ways to connect with readers and lastly, probably most importantly, you can finally expect a fair share of earnings from your uniquely brilliant pieces of writing.

Supercraft can help create your NFT art and guide you on how to conduct your first NFT drop.

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