NFT Success Stories — Volume 1
Just like any other legitimate cryptocurrency, NFTs are accessible to anyone in the world that can tap into the international internet. Oftentimes we hear NFT stories that involve some developer from New York racking up millions of dollars in value, or that NFTs are only important if they’re tied to a celebrity or athlete.
For example, within the last few weeks there was an incredibly hot NFT story centred around Jack Dorsey (Twitter’s founder). One of the most prolific NFTs ever created, the Jack Dorsey first tweet, was resold. Unfortunately, the NFT sale was an enormous failure and the seller walked away with only $2.90.
Because stories like these get the most clickbait attention, too many great NFT success stories often get overlooked. I mean, can we hear it for the new guys that built their NFT empire from the ground up?!
In this series, we’ll be covering NFT success stories that come from all walks of life. Our mission is to shed some light on the NFT heroes that may not catch the world’s eye. This week we’ve dialled up a few NFT stories that are sure to show that anyone can succeed in NFTs, given the proper direction (cough.. NFT communities.. cough) and drive (cough.. NFT marketing.. cough).
NFT’s in Kenya
A very exciting project which has come out of the NFT industry is called HoneyCoin. The platform is self-described as a place where “African creators… (can) make a living doing what they love”. HoneyCoin has hosted a few prominent figures in the African crypto world, but one of the most exciting developments had to have been a partnership with a certain Kenyan musician.
Octopizzo, a Kenyan rapper, first announced a Creator NFT Drop with HoneyCoin in early 2022. The NFT drop would feature 5 songs as “Fractional NFTs”, as well as two separate “Deluxe Collectible NFTs.” The digital assets would eventually earn the rapper over $2,000 within the first 15 minutes of his drop.
Although many folks are often enamoured by NFT sales with twice as many zeros attached to them, this sale was especially monumental in Kenya. Octopizzo’s sale marked the beginning of a new market in Africa and was the first NFT drop of its kind for any African artist. Plus, the Fractional NFTs were used to give holders access to a set of special perks and a percentage of the streaming royalties for each of the listed songs.
The special attention to sharing royalties via Fractional NFTs is a reflection of the NFT music scene in general. As NFT technology has developed, musicians and artists have been able to turn their tracks, songs, lyrics, albums, EPs, and so on into NFTs. And on top of that they can use Fractional NFT smart contracts to make sure they are compensated to their likings, while enticing fans to buy and share their music for profit.
Not only did Octopizzo use NFTs to earn financial success for his creative work, he used the technology as a means to market. The attention he garnered from his NFT drop certainly made waves in crypto media, and alerted his fanbase that he was tech savvy. All in all, it was an impressive move!
NFTs for Kids?
Kids often adapt to and pick up new technologies quicker than adults do, and NFTs are no exception. One of the most exciting NFT success stories of the year is 15 year-old Jaiden Stipp’s beginning steps in the NFT industry..
Prior to his astounding success as an NFT creator, Jaiden’s creative interests were explored through making album covers for his musician friends. Before NFTs were his thing, his best album cover work would earn him less than $100 a pop.
But not long after he learned about NFT art online did his artistic destiny change. After a year of booming success, Jaiden has officially become a very popular and exciting NFT artist.
His very first NFT sale squashed the financial return of all his album cover work and earned him 20 Ethereum (roughly $30,000 at the time). In total, his art sales are easily valued over $1 million today. “How is this possible?” you might ask?
Well, after his first work, Jaiden created eight single NFT art pieces, and announced a first edition sale. The sale was exclusive to 367 NFT and art collectors who quickly bought up Jaiden’s work, and gave him over $350,000 in primary sales to enjoy. But the fun doesn’t stop there since secondary sales drove his work to be worth more than $1 million!
The bread and butter, though, to Jaiden’s success (excluding his talent and energy devoted to his craft) is the NFT community he has bolstered for himself. In fact, he was quoted saying, “The best thing to do for a newcomer is to do as much research as you can on the space and figure out how to build a community behind your work or collections.” Jaiden’s NFT community consists of a resounding 16,500 followers on Twitter, a platform that he considers an important hub for the NFT art community.
It appears that using your NFT community as a driving force truly helped the kid shoot for the stars on this one.
The most important ingredient to success in all of these amazing stories seems to be one clear culprit. The flavour we’re talking about is of course the NFT community.
NFT communities are some of the more fascinating developments of the NFT industry in the last couple years as they seem to prove true the old proverbs “there is power in numbers” and the classic “It takes a village”. This is because an NFT community is generally a collection of brands and fans. But ideally, a brand can include anyone who makes NFTs like artists, athletic organisations, celebrities, NFT enthusiasts, to metaverse real estate companies, Web3 creators, and anyone can hone a style through NFTs.
But building an NFT community isn’t going to happen overnight, and the process isn’t easy. Just like all of these projects, you must first develop a target audience, then create a vision, and eventually build an internet existence over time by instilling excitement in your NFTs. With new platforms like Fayre, it’s much easier than ever before to get started building your NFT community today.
Your success is Fayre’s success. And we’re constantly working to make sure everyone in the world is able to participate in the world of NFTs. With access to multi-chain interoperability, Fayre fans and brands can mint and trade NFTs for low or zero transaction fees (aka those costs that can spoil an entire NFT transaction). Minting NFTs, especially on Ethereum can be exceptionally expensive which is why we’ve also created the $FAYRE Token for anyone who wishes to avoid fees and transaction costs all together.
NFT communities have already started to find Fayre, but the time to join has never been better. As one of the hottest NFT marketplaces out there today, there is plenty of pie to go around. With Web3 integrations, Metaverse developments, and bustling NFT communities popping up everywhere, the chance to launch a newfound NFT success story has never been better!