The NFT market doubled from $142 million in 2019 to $338 million last year. Of course, there are plenty of lucrative opportunities in this space for forward-thinking companies. Not surprisingly, the success of an NFT development project requires a careful management approach, just like any modern software development program. Just casually throwing something at OpenSea is likely to fail. Thus, it is essential to create a solid and realistic NFT roadmap for your project to capture the attention of investors.
What Is An NFT Roadmap?
An NFT roadmap is a document that outlines the goals and strategies of an NFT project to communicate its long-term value. NFT roadmaps typically include key project milestones, short- and long-term goals, and marketing and growth plans.
A clear and well-planned roadmap is crucial because it is one of the first things a potential investor will evaluate when considering investing in your project.
The NFT roadmap could include future NFT drops for current project owners. You can provide development milestones and release dates for games or virtual events developed for NFT holders. Sometimes they even include other projects the creators plan to launch.
The roadmap should also show what actions will be taken to achieve the project goals. Each initiative on the roadmap should be aligned with the project goals. If the NFT project is about community building, evaluate what activities are planned to increase participation. Likewise, if it’s a non-profit NFT project, check that its contribution plan aligns with its stated goals.
How To Create Successful NFT Roadmap?
We will share a few essential tips to help you build a successful and outstanding roadmap for your NFT project.
Visualize Your Roadmap
With images, it is easier to attract people. The visual presentation of information, especially structured information like a roadmap, is a great way to ensure effective and digestible communication.
Make Your Roadmap Achievable
When planning your roadmap, consider your constraints and develop a reasonable timeline. It is better to under-promise and over-deliver than the other way around. Also, keep your roadmap realistic – don’t commit to something you’ll be doing in two years unless you’re 100% committed to it.
Make Your Roadmap Dynamic
Flexibility is a good thing – your NFT roadmap doesn’t have to be set in stone. However, it is important to communicate clearly with the community. If things have changed, be completely transparent about why you’re doing things differently than you initially promised.
Keep Your Roadmap Short And On-Point
Everyone does not have the patience to read large texts. Keep the points on the roadmap as compact as possible. An easy way to do this is with a short but meaningful visual presentation of critical milestones.
NFT Roadmap: Wrapping Up
Creating a roadmap is a crucial part of launching a successful NFT project. After you mint your NFT and create a well-optimized roadmap, you can start promoting and reaching your target audience. These are three major steps you will need to follow to succeed in this fast-evolving industry.