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What is the Best Marketing Budget for an NFT project?

What is the Best Marketing Budget for an NFT project?

Table of Contents

Non-Fungible Tokens, or NFTs, have rocketed into the eyes of thousands of crypto investors. Hard to believe profits have been made overnight, a great example being those who brought into the BAYC NFT collection, now owning a six-figure digital asset. From this, hundreds of new NFT projects are populating this newfound craze. However good a project is, they all need marketing, so what is the best marketing budget for an NFT project?

If you’re wondering what makes a good NFT project, you can find a podcast we made on the topic here:

Methods of Marketing

NFT marketing teams have ample options to choose from when it comes to their promotion. As much as a project relies on its fundamentals, the amount of hype and community it can create, in the shortest possible time, is what will overwhelmingly lead to a successful launch and project. So, here are some of the best methods of marketing regardless if you are a pre-mint project or well established in the scene.

  • Marketing Agencies: Growth agencies focus on pushing your brand and project onto the right views, using the perfect medium. They specialize in understanding who your project catres to and where the best results will arise from. Let them do the hard work whilst you focus on building!
  • Discord/Telegram: In keeping with the crypto communities’ need for privacy, Discord and Telegram have emerged as the most used messaging services and consequently advertising platforms for crypto users. These platforms are filled with dedicated crypto investors looking for the next best project.
  • Celebrities/Influencers: Influencers are also a prime source of growth in the crypto community. Dedicated Crypto influencers or simply celebrities, they can all move the needle with their fan bases. However, they come at a price, many of the most ‘influential’ into the high five figures.
  • Twitter: Similar to Discord and Telegram, Twitter is home to a massive user base of Crypto investors ready to invest. Pairing seemsly with Crypto influencers, Twitter is filled with projects attempting to gain a user base and perfect for cementing your brand image in the community. 

What Is The Optimal Budget?

Established NFT brands can spend upwards of €100,000+ monthly on their marketing to constantly reach out to new investors and broaden their reach. Start-up projects are recommended to have between €10,000 and €25,000 if they are really looking to expose their project to as many of the right eyes as possible. 

Most marketing agencies will charge between €10-25,000 for an extensive campaign, so it’s important to make sure you can meet those demands. 

*Serious NFT projects should ensure they have at least three months of marketing expenses covered before embarking on their campaign, as positive cash flow may not be expected. 

Let Us Help You

If you feel more confused than when you started, don’t worry. Here at Lunar Strategy, we excel at pushing Crypto and NFT projects forward through the marketing funnel that fits them. Our expert marketing team with a deep understanding of the Crypto landscape covers all media types from Twitter to LinkedIn.

We are so confident in our service, we created our own E-Book to guide you every step of the way. Already convinced? Book a discovery call with us and we’ll get you moving in the right direction, it’s free!

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Tim Haldorsson

Tim Haldorsson

Tim first stepped into the crypto world in 2017 and has never looked back since. Now CEO of crypto and NFT marketing agency Lunar Strategy, he’s contributed to a number of respected crypto publications and is always into talking all things tech.

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