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Make It Non-Fungible
The Basics of Launching an NFT Collection
Intro

01

Chapter 1: Creating a Web3 team

02

Chapter 2: Setting goals for a successful launch

06

Chapter 3: Reading market conditions before launch

07

Chapter 4: Understanding PR and partnership practices

09

Chapter 5: Engaging and building your community

11

Chapter 6: Identifying the right mint type

13

Chapter 7: Defining post-launch plans

15

A better way to build 16

 Intro
The NFT space is still young, and despite volatile
conditions that cause seismic shifts in participation,
value, and perceptions of the future, there's still a
powerful opportunity for creators of all backgrounds to
turn their ideas into digital collectibles.

Yet as even more people learn about Web3, blockchain

technology, and NFTs, the learning curve to launch
digital collectibles continues to be steep.

This hands-on book will give you insights to help you

maximize the possibilities of creating a project that can
thrive before, during, and after launch.

So, whether it's your first time jumping into NFTs or this
is the next project in a long line of many, everything from
launch strategies to strategic partnerships and even tips
on community management is covered here.

01
1 Creating

a Web3 team
While everyone has a different goal and definition of success when
entering the Web3 space, many would say that the most successful
projects are the ones with a well-rounded and multidisciplinary team.

A versatile team is often made up of artists, engineers, marketing,

business experts, and people with excellent community-building
skills.

Take the team behind Shinsei Galverse. They are a small but
exceptionally diverse and talented group of individuals.

The core team consists of an artist/animator, creative director,

creative technologists (who previously worked at companies like
Google, YouTube, and Dropbox), and a member dedicated exclusively
to community and collaborations.

With a group that can focus on multiple aspects of the project, your
NFT collection will be on the right path to making a splash within the
space.

Shinsei Galverse

02
1 Shinsei Galverse
Artist Creative Director

What

Ayaka Ohira Emi Kusano

Creative Technologist Community

NFT teams
Devin Mancuso Jack Baldwin

look like
Forgotten Runes

in reality
Founders
Elf J Trul
Devs
Niski

—> Dotta

Bearsnake
Design
Mollyismutz

Community
Marketing
Nalgene
Lachness
Acryllic

03
1 What to avoid
There are pitfalls you can avoid when building out the Ignoring candidates who have little or no Web3
core of your project.

experience. Since the space is still young, there are

plenty of highly-qualified professionals who can be the
So before you start searching for the right members, perfect match for a project, even if they’ve never worked
here are a few tips to ensure you can build an optimal in NFTs.
team.

Don’t focus too much on one skill in particular. For Underinvesting in smart contracts should always be
example, hiring too many designers. Teams need to be avoided. Smart contracts are an essential part of any
balanced, with skills being distributed, so all major parts NFT project, and not focusing enough energy on them
of the project are covered. can be problematic in the long run.

04
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2 Setting goals for a successful launch

With a team behind your project, it’s time to I

—> nclusi vity & Sybil-resistance. 
—> Gas-efficiency.

set your goals for the launch of your project. Often, an NFT creator’s best interest is to ensure the launch is Transacting on chain (especially on Ethereum) is expensive, so a

But as the famous French author Antoine de open to a diverse base of holders, even if it initially causes the good launch should  minimize the number of transactions users

Saint-Exupéry once said, “a goal without a market to clear a bit lower. That is because a vibrant community have to make. Two successful projects that followed this example

plan is just a wish.”

ultimately drives the value of a collection in secondary markets. are WonderPals and The Lobstars.

This quote is just as accurate for any Web3

project because without solid plans, the —> No race conditions.

—> Time-zone agnostic.

chances of missing your goals increase, which Whenever an NFT goes on sale below its fair market price, it turns Commonly, first-come first-served (FCFS) launches are

is a recipe for an unsuccessful mint.

into what Vitalik Buterin has called auction-by-other-means.

announced at a particular block height and then sell out in a short

In practice, buyers race to get their transactions mined as fast as time.

Of course, it’s essential to consider that each possible or attach large bribes to incentivize miners. Any auction- No matter what block height is chosen, it will always

project will have different goals. But having a by-other-means favors people with deep knowledge about the disadvantage users of other time zones who are currently

firm strategy in place will not only catch blockchain and access to power tools like bots, private relays like sleeping or at work.

mistakes but also prepare your team for Flashbots or Eden, or even direct-to-miner access. Therefore, launches shouldn’t be too short, soo people can

multiple scenarios that could arise during participate without changing their daily routines.

launch. These objectives put together by

Paradigm.xyz are something that all creators

should consider: —> Fairness must be top of mind.

—> Trustlessness.

Launches must have true randomness to ensure that predatory Of course, all that said, the launch mechanism should work to

users cannot snipe the rarest items at the expense of less preserve the properties of the underlying blockchain

—> sophisticated users.

06
3 Reading market
conditions before launch
While there’s still no crystal ball IRL or a Metaverse that can predict
market trends on either a macro or micro level, timing is still essential
for a successful NFT launch (or any Web3 project).

Especially for NFTs, which are highly liquid assets, having a pulse on
market activity can be critical for the long-term success of a project.

Timing your launch

But what makes timing your NFT launch so important? The main reason
is that the most significant number of secondary sales occur in the
following days and weeks post-launch.

There are plenty of good examples of projects and teams that saw
post-launch success due to a well-timed launch. Moonbirds, for
instance, had a strong showing of secondary sales in the days
following their launch (even better than other blue-chip projects like
BAYC).

07
3
Moonbirds can credit a lot of this successful sales streak due to the
high trading volume on marketplaces like OpenSea. The graphs below
show that Moonbirds coincided during a particularly bullish peak when
Opensea was experiencing spikes in monthly marketplace volume.

NFT Marketplace Monthly Volume

“Projects that
Sources: CRYPTOART, CRYPTOSLAM, THE BLOCK
would have minted
out six months ago,
Weekly Sales Art and Collectibles NFTs are now stalled.”

— GMONEY.eth

Source: CRYPTOSLAM

That’s why experts recommend launching when there is a high volume

of trading and market conditions favor holders rather than paper-
handed flippers. While this is easier said than done, keeping a pulse on
how the markets react can benefit your project’s long-term success.

08
4 Understanding PR and
partnerships practices
Big names to back your project is a proven way to get more eyeballs on your collection. While getting a verified celebrity to ape into your project is easier said than done, many
The right influencers or celebrities holding your tokens can be game-changers in terms famous people are avid supporters of NFT brands.

of increasing your sales volume and expanding your reach to more community
members. These graphs give you a glimpse at the celebrities who are building NFT portfolios:

Gwyneth Paltrow Napheesa Collier Madonna Snoop Dogg Serena Williams Steve Aoki

World of Women Moonbirds + Proof + Oddities

Shonda Rimes Reese Witherspoon Eva Longoria Liam Payne Gary Vee Alexis Ohanian Beeple Jimmy Fallon

09
4
So, if you are planning to launch a collection and are lucky enough to
have influential friends interested in your project, make sure you
include them in your allowlist.

Not all Web3 or IRL celebrities will be the perfect fit for your project.
Making sure you avoid the wrong type of celebrity to hype your
collection is no walk in the park, but these are some major red flags:

Celebrities that are trying to shill their NFT projects.

Paper-hand influencers that are looking for quick flips.

Web3 influencers who’ve been part of previous

scams or rug pulls.

But the primary key here, just like IRL, is to #DYOR and make sure you
carefully review celebrity candidates, brands, or any potential
partnership opportunity.

10
5 Engaging and building
your community
Since the early days of NFT projects, community
continues to be a pillar of successful NFT projects.
Collections with strong community support are often the
ones that have the best longevity.

So, where do you begin when it comes to building a

solid community?

First, the core inclusive ethos of the NFT space should

be central when considering marketing and minting.
Ingraining that into your project’s roadmap will lay the
foundation for a community that’s treated fairly and
equally.

There are of course actions you can take to give you a

better chance at developing a loyal and strong
community.

NFT Party by Ilya Kazakov

11
5 Best practices
Frequently engage with the community on your social channels like Twitter and
Discord. A few standout communities that are constantly filling timelines with

to build a community meaningful engagement are Loser Club, Cool Cats, and Deadfellaz.

Have a story behind your project! This is a great way to engage those
who ape in with more than just a promise of financial gains. If you’re
looking for examples of collections that have been able to accomplish
this, look no further than Starcatchers, Whiskers, and Forgotten Runes.

Collaborating with other communities also fosters healthy synergy. This will help
both projects grow by adding enthusiastic members from both collections.

Giving holders the chance to build upon the IP. The growth of
community projects often comes with increased awareness of the
genesis collection. A few projects that crushed this: World of Women,
BAYC, and Robotos.
What not to do when
community building
Don’t build a project if you’re looking for quick crypto riches. It feels scammy,
shallow, and is a quick way to disappoint true fans of the collection.

A minting strategy based on a first-come-first-serve basis. Having gas wars during

your mint pushes away from inclusiveness, which, if you remember, is one of the core
principles! A great way to discover collections with strong communities is by scrolling
your favorite project’s Twitter and Discord. Dropping in on the chats in these spaces
can shed valuable light on how they are thriving and what strategies they are using.

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6 Identifying the right NFT

mint type
There’s no other way to say it: The type of mint you choose will play a
significant factor in unveiling your NFT collection. Depending on your
collection’s goals, these main mint types might be what works best for
your project —>
First Come, First Served (FCFS)
An NFT drop style in which minting is open on
a “FCFS” basis either to anyone in the public or to specific
subsets of NFT community members.
Stealth drop
While stealth drops are somewhat similar to FCFS mints, the
difference is that there is no lead up or warning to the
unveiling. In this way, the playing field for anyone trying to
collect NFTs is evened out by the suddenness of the mint.

The one that best suits your project is a matter of internal planning and
preparation. But, if you don’t know where to start, a great way to get
the thought process going is by reviewing your favorite NFT projects
and the strategies they chose for their mint.

Dutch auctions (DAs) Nounish auctions

An NFT drop style in which a collection’s NFTs start at An NFT drop style pioneered by Nouns DAO that entails
Ask yourself: how was the experience? How did the rest of the an initial mint price — e.g. 10 ETH — and that price drops by generating and auctioning one new NFT every day
a particular sum periodically — e.g. by 0.25 ETH every 30 indefinitely. However, lately we’ve seen a wave of projects
community view it? What could they have improved?

minutes — until a designated price floor is hit, or a demand adopt the Nounish distribution style while experimenting
equilibrium is reached and all the NFTs sell out. Collections with its NFT pacing, i.e. releasing more than one NFT a day
These questions will help formulate the best course of action you can who did this: Hello Kitty by RECUR and Peaceful Groupies. and so forth.

take for a smooth and successful mint.

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6
If you’re looking for a thorough look at how these standard mint practices
could work for your project, have a look at this table from Metaversal:
First Come, First Served (FCFS)
An NFT drop style in which minting is open on a “first come, first
served” basis either to anyone in the public or to specific subsets
of NFT community members.
Pros
Simple for builders to implemen
Simple for minters to use
Cons
Low-priced, high-demand FCFS mints can lead to “gas wars”
that congest an entire chain, e.g. Ethereum
Prone to failed transactions near the end of mint events
Prone to being overwhelmed by bot minters
Not time-zone agnostic since FCFS mints often mint out
rapidly.
Examples
Permissionless — Anyone can mint on a FCFS basis. 
 giving artists the ability to launch their collections via Dutch
Example: Bored Ape Yacht
Token-gated — Anyone who holds a specified token can mint
on an FCFS basis. Example: Blitnauts, which can only be
minted by Blitmap holders
Raffle-based — Entails using a raffle system to allocate a
limited number of allowlist spots for a FCFS mint. Example: Boki
final sale
Price-tiered — a drop style in which different supply tiers in a
collection have different mint prices, e.g. NFT IDs 0-999 at 0.1
ETH, 1000-1999 at 0.2 ETH, and so forth. Example: The
Hashmasks.
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Dutch Auctions (DAs)
An NFT drop style in which a collection’s NFTs start at an initial
mint price — e.g. 10 ETH — and that price drops by particular sum
periodically — e.g. by 0.25 ETH every 30 minutes — until a
designated price floor is hit, or a demand equilibrium is reached
and all the NFTs sell out.
Pros
Brings transparency to the NFT bidding and price discovery
processes.
Cons
Often flavors the most deep-pocketed collectors who can
afford to mint at or near the initial auction price.
Examples
Art Blocks — To mitigate gas wars and to focus on supporting
artists over miners, generative art dapp Art Blocks began
auctions as of the summer of 2021
Azuki — The anime-themed PFP collection launched through a
Dutch auction mint in January 2022, but the collection minted
out in minutes without its initial 1 ETH mint price ever declining
Forgotten Runes Warrior’s Guild — The Forgotten Runes
Warrior’s Club extension collection started ats Phase 1 release
with a Dutch auction; the initial mint price was set at 2.5 ETH
through that sunk down to the final designated resting price of
0.6 ETH over the course of the mint.
N ounish Auctions
An NFT drop style pioneered by Nouns DAO that entails
generating and auctioning one new NFT every day indefinitely.
However, lately we’ve seen a wave of projects adopt the Nounish
distribution style while experimenting with its NFT pacing, i.e.
releasing more than one NFT a day so forth.
Pros
This drop/distribution style is a new on-chain primitive that
projects can use to build an NFT community over time
The pacing and parameters can be customized in different
ways.
Cons
This drop is ultimately experimental
High demand can lead to auctions becoming inaccessible
price-wise to many
The Nouns Protocol is elegantly designed and pretty complex,
so you’d need an expert Solidity developer to fork out and build
off it.
Examples
N ouns DAO — “One Noun, every day, forever” is the rallying
cry of the main Nouns project; the underlying protocol
generates an avatar from a bank of traits, auctions the avatar,
and settles that auction once per day
Lil Nouns DAO — Auctions one Lil Noun NFT every 15 minutes
per day forevermore
WizardsDao — Auctions 3 Wizard NFTs per day until the total
collection supply reaches 2,000 NFTs.
7 Defining post-launch Start exploring the Metaverse
plans For ambitious world builders, having a place where your community can interact is a
reliable way to add value to your collection. These can be galleries, games, or creating
small metaverses for your collection.

Having the collection minted and launched into the Web3 ether is just Robopolis, for example, is where Robotos and other holders can hang out, play games,
one of the first steps towards a long and successful project. What and connect with other NFT enthusiasts.
happens after your tokens are released is where the next phase of the
project begins. That’s why having a post-launch plan is crucial.

Basic post-launch strategies

Hi!

Continue fostering positivity and inclusivity in your

community! The more it grows, the more chance of a
project with longevity.

Create side kicks when the collection is valuable. Gifting

holders with additional NFTs related to the collection is a Having a world for your project establishes you as a team with engineering and
great way to show your community that you care about creative strength. It’s almost like sending a message to your community that you’re
them. building something for the long term, and have plans for more growth and potential
(which is something holders almost always want to hear).

Hosting IRL and digitally native events where holders If you’re interested in building the next phase of your collection, the Microverse is
can earn something of value for participating. where you can design worlds without limits.

15
 A better way
to build
The dawn of Web3 and NFTs is happening now, and
there’s a long road ahead where all of us will see
amazing advancements in this space. Even the most
volatile of moments in the market offer prime
opportunities for builders to expand on their creativity
and the chance to make the next big project.

But to have a successful NFT project means preparation

and patience, and the best way to ensure that what
you’re building has longevity is to make sure you’re well
versed in as much of the space as possible, and having a
firm plan from pre-launch to long after post-launch.

Let’s go!
So, #DYOR, prepare for everything, and start building
your visions into a web3 reality.

16
 bueno
A powerful toolkit for NFT
creators.
www.bueno.art @buenonft

Sources: Cryptoslam.io, TheBlock.co, Metaversal Disclaimer: This book is for informational purposes
from Bankless, Paradigm.xyz, Bueno.art and doesn’t constitute investment, legal, or tax
advice.

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