How do you balance creativity with NFT market expectations?

After 20 years of experience in the Art Market, from auction houses to galleries and privately advising, I have seen different trends in the market. Some collectors still struggle to understand the video art, some will never consider buying blue chip artworks, some are waiting in lists to get wet paint names, some are looking for the next big thing. NFT market has been trending now for a while and auction houses have tried it as well. If you look at a "contemporary auction" catalogue from 20 years ago, you will realize that only a few names are still known and history forgot the rest. Without the benefit of hindsight, it is hard to say at the moment if NFT will remain a good investment.

The NFT market is 2023/2024 is completely different than the NFT market in 2021/2022. It's all about one thing: utility. What does the NFT actually do? What does it connect to in the real world? Creating and communicating this utility is paramount.

Knowing your followership is the linchpin of success in the NFT space, as it empowers you to produce NFTs that align with their preferences, make a devoted community, price your means meetly, knitter marketing strategies effectively, acclimatize to evolving request dynamics, and offer a different range of NFTs, icing your adventure's resonance and viability in this dynamic and competitive creative request.

Forget about the NFT flippers, and NFTs as a PFPs. Instead, use NFT as the extension that creates a better customer experience. Who will reject the NFT platinum card that gives access to the VIP party for the community of local restaurant? Know who is going to engage with that, and based on this deploy in your NFTs particular features they wouldn't turn down.

I am Bernard D'sa, the author of the book "A Brief History of NFTs" To effectively balance creativity with market expectations, it is crucial to understand your potential buyers and their preferences. Various types of NFTs cater to different collectors, investors, and enthusiasts. It is recommended to carve out your own niche in the market by conducting thorough research and planning accordingly.

This is one of the most important parts of being an Artist. Commercial art is good for a season of your artistic journey, but at some point you must evolve into your artistic passion. This part of your journey requires courage because you will loose opportunities, but will step into great fruitfulness and fulfillment in your art. When you create from this place, buyers come out from the woodworks to purchase your work. At this level of your evolution it’s not about making a living, but changing and encouraging the world.

Identify your mental niche, rather than a physical one. It’s crucial to find your mental niche to stand out from competitors. A mental niche distinctively shapes how your project is perceived by the users. Avoid restricting yourself to a physical niche, as this approach can limit your visibility and hinder growth potential.

Identify your USP to distinguish your NFTs in the market. Whether it's through your artistic style, thematic approach, storytelling, or community engagement, carving out a niche helps you cater to specific audiences and build a loyal following amid the competitive landscape of NFTs.

What we've found with Sporting Crypto is that there is a huge demand for the intersection of Web3 and a subsection of something culturally relevant, in our case it's sports. Whether its a company, content niche or NFT drop - you cannot go broad any more.

Digital media has exploded recently with software being able to do amazing things. Ownership is a key cornerstone in this evolution. There are lots of market places now, but we need true innovation to come.

One has to try various new tech options, evaluate features, gaps, combine with other tech options, existing tech stack. It's always a combination of ingredients for a successful recipe. Hybrid formats enable easy onboarding and understanding. Crossover, demos are the best. Sparkasse, a local traditional bank, for example, encouraged its employees to use wallets, Web3 etc.. It stimulated them to think of ideas that solved problems or new services. Some other banks combine cloud and blockchain, NFTs and existing KYC options.

Stay ahead of the curve by embracing experimentation and innovation in your NFT creations. Explore new formats, features, and collaborations to keep your offerings fresh and engaging, allowing you to adapt to the evolving landscape of the NFT market while maintaining your creative integrity.

NFTs can be, and do, almost anything. Many creative teams I've worked with have actually leaned to be too conservative in the creative work they've created, or copied and pasted another case study. There is a need for more originality in the space from an enterprise perspective and I think it will come in time with more experimentation.

Honestly, I am very cautious about these NFTS. Over the last year, I have received dozens of offers to purchase my art as NFTS. As of now, I have not converted any of my artworks into NFTS. How does the copyright fit in to this? I understand that each NFT is a singular item which supposedly gives it a higher value. I am still up in the air on this. I would be curious to see how other artist or collectors faired with NFTS.

I have been asked my work to be sell on NFTs at least 50 peoples through Instagrem. so, I made a platform on Opensea, (some people wanted me to make other NFT sites ) however, none of the parson really bought my work. All of them were someway to try taking money out of me. There are many NFT sites appear and disappear, before you mint your work on a NFT site you need to check the site well.

Actively listen to your audience and engage with the broader NFT community to align your creative vision with market expectations. Leverage direct feedback channels and social platforms to foster meaningful connections, gather insights, and refine your approach, ensuring that your NFT offerings resonate with your audience while staying true to your artistic vision.

Two of the biggest pitfalls I've seen with NFT projects, both from greenfield Web3 entities and enterprise alike, is communication & expectation setting.

It seem to be unfortunately for my wallet ,that I do not care at all. So little that I have to ad this sentence to meet the character min. to be able to post this.

Authenticity, through a depressed market, is probably the most important thing for brands and creators to retain. Fans and consumers are hypersensitive to authenticity, and that needs to be remembered.

Maintain authenticity and consistency in your NFT offerings to build trust and loyalty among your audience. Stay true to your artistic vision and values while adapting to market trends, ensuring that your creations remain genuine expressions of your identity and resonate with your audience's expectations over time.

Trust and authenticity are fundamental to successful branding. As an artist, you represent yourself as a brand, which must be nurtured consistently. Embracing values that resonate with you and presenting them succinctly is essential, as any brand that lacks authenticity is likely to fail in the long term. Although it may sound clichéd, the long-term success of a brand hinges on its authenticity.

We've started projects where artists and creators of all kinds can join forces and try out new ideas, free from market pressures. This builds a real sense of community and stretches the limits of what we can do with NFTs. By promoting this spirit, we're not just sparking creativity; we're also strengthening the culture at the heart of the NFT and Web3 worlds.

Please do not confuse NFTs with digital art. NFTs come to demonstrate digital ownership. Art is one of the ways people choose to represent the utility of an NFT. You as the owner of the NFT collection, send holders a piece of art instead of a large code. When creating a digital art collection NFTs, take into account that the quality of the art is equally important as the value you will provide to the holders.

I am Bernard D'sa, the author of the book "A Brief History of NFTs". At Raindrops, we differentiate between NFTs and digital art. NFTs serve as a proof of digital ownership, while art is one of the ways in which people express the value of an NFT. It is important to identify your target market, develop your niche, stay motivated, continuously learn new techniques, and persistently strive for success!

Selling NFT art is exactly the same as selling any kind of art! Identify your target market, develop your niche, don’t get discouraged, keep learning new techniques, keep trying! Sound familiar? There are really no shortcuts here! You still have to do all the work! What that means, if you’re selling ANY kind of art you need to use the same techniques - adapting those techniques to a new platform.

Research current NFT trends, but don't copy what's already out there. Bring your own unique twist. Experiment with different creative approaches, art styles, and concepts. See what sparks your imagination. Consider collaborating with other artists to combine different strengths and aesthetics. This can yield fresh results. Engage with your collector community. Get feedback on works in progress. Understanding your audience can guide your creative process. Don't sacrifice your core artistic vision and integrity. Stay true to your creative spirit. Find a balance between market viability and your own creative satisfaction. Don't force it if something isn't working.