GamesHUB #12 | Secrets to a Successful NFT Launch

Meet our Guest:
Joel Comm

New York Times Bestselling Author, Co-Host of Bad Crypto Podcast

With our Host:
Constantin Kogan

GamesPad & BullPerks Co-Founder, Partner at BitBull Capital

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What would be your advice to owners and builders that are launching their projects in the bear market right now?

Be original. Stop looking at what everybody else is doing or has done and go.The ones that are going to succeed will be the ones that stand out by doing something new, something different, and are willing to take risks.

Too often somebody’s got an idea for something they want to do, and others around them will say “nobody’s succeeded with that before”. Great, that’s an opportunity as far as I’m concerned, to take a risk, trying to duplicate. Find a way to add utility, to create.

Is there a secret to success for original founders?

We’ve seen the same types of utility on roadmaps as kind of goes along with my previous statement. Everybody’s doing to give a piece back to charity. Everybody’s going to do an airdrop. Everybody says they’re doing a metaverse, or there’s going to be a game. Great. What is it about yours that’s going to make it unique?

When you think about NFTs, there’s a key that unlocks magic boxes and creators get to decide whatever they want to put in that magic box. That means we’d barely begun to scratch the surface of what’s possible, of what can be delivered to the consumers and customers that own these NFTs. Again, take a risk, be willing to take some arrows, because that’s what pioneers do as we prepare for the massive adoption that is coming.

What are a few examples of utilities that excite you personally?

The tie in for digital and physical is a big deal, right? It’s great to be able to have some digital apparel that you can wear in the metaverse, but I think actual apparel that real people would want to wear in IRL is a great move. Whether they’re caps or shirts or jackets or pants or shoes that are tied to the digital twin so that the item is transferred with it as somebody owns the entity, they own that item. I like that. I really like the community and NFTs where you own a membership card, and that membership then unlocks all the various benefits. Whether it is to get into a private discord or other community or into a metaverse or real life events to get into conferences in the future, we’re going to see all of these loyalty programs that we participate in the form of NFTs, and many of them will be transferable.

Does attaching a big-name celebrity to the NFT collection guarantee its success?

Sure. Influencer connections are always viable, but just having an influencer is obviously not enough. We’ve seen a lot of collections from big name celebrities, NFT Collections bomb. Just because it was tied to their name doesn’t necessarily mean there’s a lot of criteria that has to go into the NFT.

First of all, people have to have a personal connection to it. They have to feel like this influencer is actually involved and cares about the community. If they’re just lending their name to it like a celebrity would to Nike and they’re on a TV commercial, that’s not personal. That is a distant thing. And if you like that person, you might buy the shoes. But in this new Web three world, we are looking for personal connection. So it’s more than just lending your name or getting paid to have your name attached to a collection.That celebrity needs to be as much a part of the project as whatever the NFTs are themselves and they have a much better chance of having success

Can this affect those who are just launching their NFTs in the market?

If you can collaborate with them and there’s a good fit, then sure. You know, if you’re willing to give up a large percentage of your IP and your profits, then you can do that. But how many groups are there on social media; how many individual niche groups are there? There’s a place for everybody. There are 8 billion people on this planet now. And if you’ve got something that you’re passionate and excited about, they’re out there. But you have to find them. You have to deliver value to them. You have to tell a story so compelling that they will then tell their friends that they need to follow you as well. If you’re delivering value, value finds its audience. If you’re just doing another PFP collection, even if you’re trying to give them away for free, we see tons of free min going nowhere because people don’t even see it as worth the gas. Why? Because they see it as just another PFP collection. So value will find its community, add real value, and I think there’s plenty of room for all kinds of niches.

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