celebrities have sizable NFT portfolios<\/a>. In this blog post you will learn how you can as well generate revenue with your content via NFT drops.<\/p>\n\n\n\nExample calculation how to monetize content<\/h1>\n\n\n\n How much can you earn by monetizing your content? Of course this depends on the size of your community and how active they are.<\/p>\n\n\n\n
Below is a table with an illustrative example calculation<\/strong> depending on how many followers you have. We need to make assumptions about your community\u2019s engagement rate and how many of your followers will convert to buying your NFT. The price of your NFTs also has a big impact.<\/p>\n\n\n\n# Followers<\/strong><\/td>10,000<\/strong><\/td>100,000<\/strong><\/td>1,000,000<\/strong><\/td><\/tr>% Engagement rate<\/td> 5%<\/td> 5%<\/td> 5%<\/td><\/tr> # Active followers<\/td> 500<\/td> 5,000<\/td> 50,000<\/td><\/tr> % Conversion rate<\/td> 30%<\/td> 15%<\/td> 10%<\/td><\/tr> # Interested buyers<\/td> 150<\/td> 750<\/td> 5,000<\/td><\/tr> # NFTs on sale<\/td> 100<\/td> 500<\/td> 3,333<\/td><\/tr> $ Price per NFT<\/td> 100<\/td> 100<\/td> 100<\/td><\/tr> $ NFT revenue estimate<\/strong><\/td>10,000<\/strong><\/td>50,000<\/strong><\/td>333,333<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\nIt makes sense to make the sale more exclusive and to create urgency. Therefore the number of NFTs on sale is assumed to be just two thirds of the number of buyers that are likely to be interested.<\/p>\n\n\n\n
You can see that the revenue even for an account with 10,000 followers can be substantial. You can also repeat NFT drops two to three times every year. Each drop can have a different angle and twist to it.<\/p>\n\n\n\n
This blog post will show you how exactly you can monetize content with NFTs by following 5 simple steps<\/strong> while being completely independent of expensive marketplaces<\/strong> that take a big cut of your revenue:<\/p>\n\n\n\n\nPrepare your content<\/li>\n\n\n\n Create and set up a wallet<\/li>\n\n\n\n Configure and create your NFT<\/li>\n\n\n\n Promote your NFT drop<\/li>\n\n\n\n Cash out and start over<\/li>\n<\/ol>\n\n\n\nStep 1: Prepare your content<\/h2>\n\n\n\n This part is the key to your successful NFT drop. Through NFTs, everybody can own digital content in their wallet. This means that your community can actually own your content and trade it. Think of collectibles or art collections in the digital world.<\/p>\n\n\n\n
It doesn\u2019t make a big difference where your community is as an influencer. Whether it\u2019s on Instagram, TikTok, Twitter, Facebook, YouTube, blog or a podcast. You may even be active on several of these platforms or some others that may not be listed here. The important point is that your community is interested in your content and interacting with you regularly.<\/p>\n\n\n\n
One simple way to start is to create an exclusive piece of content<\/strong> that you haven\u2019t shared before. This could be a<\/p>\n\n\n\n\nPhoto in a new location or a new outfit<\/li>\n\n\n\n New meme<\/li>\n\n\n\n Picture with a new message or tip<\/li>\n\n\n\n Short video you haven\u2019t shared before<\/li>\n\n\n\n Song that you haven\u2019t released, yet<\/li>\n\n\n\n Digital art that you created<\/li>\n\n\n\n Airtime for advertising on your YouTube channel \/ podcast (in this case the NFTs for example are vouchers for 5 minutes of advertising space on your platform or the right to be mentioned in a Instagram \/ Facebook \/ TikTok post)<\/li>\n\n\n\n Many more variations that you can come up with<\/li>\n<\/ul>\n\n\n\nLet\u2019s assume that you want to sell 100 NFTs. All of these NFTs can show the same media such as a photo. In that case the 100 NFTs would be similar to a limited print of a physical photo. This is the best way to get started.<\/p>\n\n\n\n
As an alternative you can also create 100 unique media files. The advantage is that everybody who buys your NFT receives a unique piece of content. At the same time you will have more work to create the content.<\/p>\n\n\n\n
One way to still add uniqueness to one single photo is to combine your NFT drop with a raffle<\/strong>. Each of your 100 NFTs will have its own unique identifier ranging with IDs from #0 to #99 (this is the customary technical numbering pattern of NFTs).<\/p>\n\n\n\nYou could say that once the NFT drop is over and all 100 NFTs are sold, you will make a random draw of 10 IDs. Each of these 10 IDs will receive a prize. Here are some example prizes:<\/p>\n\n\n\n
\nZoom call with the creator<\/li>\n\n\n\n Dinner with the creator<\/li>\n\n\n\n Extra NFT with content that nobody else gets<\/li>\n\n\n\n 15% discount on a product that you are selling<\/li>\n\n\n\n Exclusive entry to an event that you are a part of<\/li>\n<\/ul>\n\n\n\nYou can get really creative here. You could also say that the first 10 NFT buyers receive the prizes to increase engagement. You can announce the winners on Instagram or TikTok after you have drawn them.<\/p>\n\n\n\n
In order for the winners to receive their prize, ask them to comment with their wallet address on a particular post or video. That way you can verify that they are the owner of the NFT with the right ID and are entitled to receive the prize. At the same time this drives engagement on your profile.<\/p>\n\n\n\n
Step 2: Create and set up a wallet<\/h2>\n\n\n\n Before you can create your NFT you will need a wallet. There are many types of wallets that you can use, most of them are listed in our