NFT Launch Strategy: How to Enter the Booming NFT Market

The non-fungible token (NFT) market is on the rise, with various projects serving as fuel despite the recent market decline.

NFTs sell for millions of dollars, capturing the attention of investors, aesthetes, techies, and gamers around the world. Today, many newcomers are looking for the best way to enter the NFT arena or own an NFT. Although times are tough for the NFT market, it is expected to reach $13.6 billion by 2027 at a compound annual growth rate (CAGR) of 35%.

This will lead to more NFTs, Bids, and Returns. But there's another thing holding potential participants back from capitalizing on the projections: the path to a successful NFT launch. Launching your own NFT is no walk in the park, especially when you're unfamiliar with the industry.

In this article, you will get a brief overview of NFTs and how to successfully launch one for your business.

Source: ARTnews

The future of NFT in a Web 3.0 world

Web3 is just around the corner and in many ways is already influencing the world today. NFTs are an integral part of this new web environment.

With Web1, users have access to the Internet and can instantly view information online. Content creators were limited, but content consumers were plentiful.

The Internet of yesteryear lacked the visuals, controls, forms, and interactivity we enjoy today. There was little interaction and very few ads. If you knew how to use a search engine, you might find what you were looking for. But that summed up everything users could do online.

As technology advanced, the internet had to adapt to accommodate the experiences users were looking for. This paved the way for the next and current phase of the Internet, Web2.

Web2 is much more interactive and allows users to do more than just read and browse the Internet. This Internet phase is about user experience and user-generated content. It is a better version of its predecessors and is powered by JavaScript.

With Web3, content creators would not only generate content, but also own and monetize it. Essentially, the internet is moving away from centralized platforms like Google, Facebook and Twitter towards decentralized, open and anonymous platforms.

"To preserve an open global Internet that drives innovation and helps us collectively address the challenges we face, we must set globally accepted standards to shape the digital future we want."

Tim Berners-LeeInventor of the World Wide Web

Web3 is synonymous with decentralization, openness, trust and autonomy. It is based on Distributed Ledger Technology (DTL) which guarantees the transparency and authenticity of information shared on the web.

While Web3 isn't quite there yet, there are different elements that are making their way into our current internet, including NFTs, Blockchain, Metaverse, and Decentralized Finance. Although there is a lot of work and technical issues to resolve, the process is well underway.

NFTs and metaverses are two areas with unlimited potential for businesses. They allow for a more real form of content participation. Many companies are still discovering the opportunities these technologies offer and what they mean in the long term. With the right...