About 85K NFT collections appeared in the market last year and the market capitalization peaked in April and reached more than $41 billion. Overall, the year 2022 was lenient for NFTs.
The total NFT sales for the year clocked at more than $55 billion. This was a 175% gain from 2021 when the total sale was nearly $20 billion.
As a result, there was never any doubt or mistrust about the NFT market’s future. Moreover, more than 90% of prior NFT buyers and 40% of those who haven’t yet purchased one indicate that they are somewhat or very interested in doing so in the next 12 months.
Furthermore, over 80% of customers believe that a brand’s digital presence is as significant as its physical presence, which drives demand for branded NFT assets. Consumers increasingly interact with businesses in digital-only contexts, driving demand for branded NFT assets.
Even JP Morgan Chase said that:
Every technology and media company will need an NFT strategy. The NFT universe will continue to grow strongly over the coming years.
New players from blockchain and cryptocurrency, as well as traditional art and auction markets, flooded the NFT market in 2022.
These included big names from fashion brands like Dolce&Gabbana, Burberry and consumer packaged goods companies like Coca-Cola and Taco Bell.
Renowned celebrities like Snoop Dogg, Shaquille O’Neal, and Steve Aoki are among the latest members to join NFT communities.
Consulting agencies have played an enormous role in making NFTs accessible to all businesses, from small startups to major corporations.
This guide will discuss everything related to NFT consulting and list the top consulting agencies of 2023.
Table of Contents
What Is NFT Consulting?
Before moving onto NFT consulting, let’s discuss NFTs. NFTs are unique digital assets that can be stored, bought, and sold securely and transparently. Their uniqueness is what makes them valuable, while also offering proof of authenticity as well as ownership.
Most cryptocurrencies focus on fungible currencies. For example, Bitcoin can be exchanged for any other currency or asset like pizza. On the other hand, non-fungible tokens offer more value by being specific and individualized. For example, one token might represent ownership of a rare baseball card, or another might represent a music track.
The value of these collectibles can vary based on factors (such as rarity or demand), making them ideal for monetization through consulting services.
The primary role of NFT consulting is to assist organizations and individual clients in understanding how NFTs work and how they can represent ownership of unique assets, such as art, collectibles, and more.
Consulting services may also provide guidance on creating and selling NFTs and advice on navigating the NFT market and identifying potential growth and success opportunities.
In many cases, a good NFT consultant can help clients save money by suggesting ways to work more efficiently or by finding alternative solutions that provide better value for money.
A good consulting agency has a thorough understanding of the non-fungible token (NFT) market and can provide expert advice and guidance to its clients.
They should have a team of experienced professionals who are knowledgeable about the different uses and applications of NFTs and can provide tailored solutions to meet their clients’ specific needs and goals.
Moreover, they should also be able to help its clients navigate the complex and rapidly evolving NFT market, identify opportunities for growth and success, and develop strategies for success.
Additionally, a good consulting firm should have a strong track record of delivering high-quality results and be responsive to its client’s needs.
Based on the above-mentioned factors, here are our top consulting agencies that can bring success to your project in 2023.
How Can Top NFT Strategy Consulting Firms Help?
NFT Consulting firms provide expert advisory services in the form of scalable actions. These services are backed by data analysis that not only solves the present issues but also paves the way for a profitable business future by forecasting future trends.
In addition to providing technical expertise, NFT consulting firms can also help projects succeed by providing strategic planning and marketing support.
This may include developing marketing campaigns to promote NFTs, identifying potential partners and investors, and developing strategies for monetizing NFTs.
Overall, an NFT consulting firm can be a valuable resource for projects looking to succeed in the NFT space by providing expert advice, technical support, and strategic guidance.
Different Stages of NFT Consultation
The aim or ideas of each project differs with another; they may have different needs based on the project stage.
Some projects approach consultants with ideas, but there are people who hire consultancy for launching or marketing collections.
So, the process of consultation varies depending on the nature, goal, and stage of the project.
Here we are describing the most common stages of consultation.
1. Request for Information
This is one of the most common reasons to reach out to NFT consulting companies. The NFT domain is a peculiar one. It is data-driven, but powered by communities. The frequency of innovation is unprecedented in the NFT space.
This space is also a hotly debated one due to frequent NFT frauds and scams. Hence, NFT brands feel the dearth of reliable information to build a fool-proof strategy for marketing and operations.
Consulting services can help by providing high-quality data about the various aspects of the NFT market to aid in creating a sound strategy and manage finances better. Such information can also help NFT brands identify underlying factors within the organization as well as on the customer front.
3. Tackling Problems
NFT companies can come to consultants seeking solutions to specific problems. Examples of such issues can be how to market NFTs during the bear market, designing new communication strategies to keep the enthusiasm of the target audience during market dips, etc. NFT brands may also want to identify the best influencers within their budget for maximum impact.
NFT consultants are experts who have a firm grip on the changing dynamics of the industry. They can help brands with the appropriate solutions to tackle different problems within the market as it evolves.
These consultants can assist NFT projects reach the right media sites, establish partnerships with the right influencers, identify appropriate timing for content marketing, etc.
3. Functional Issues
NFT consultants are experts who can spot issues in a brand’s approach towards marketing and operations.
Such activities entail a minute study of a number of deciding factors like market trends, overall economy, brand positioning, brand tonality and niche.
Addressing potential issues of the projects aids in implementing better solutions in future. We know how fierce the NFT market is at the moment. Thus, moving ahead with unresolved issues can prove counterproductive to the business in the long run.
4. Proposing Solutions
This is the most important step in an NFT consultation. Consulting partners draw reports, surveys that list the information and their sources and recommend scalable actions based on them.
A logical action plan is devised which lays out a road map highlighting the how’s and when’s of the implementation.
Proposing creative solutions to capture the NFT market is not the only part of this step. This stage also discusses how the solutions can be sustained to see significant benefits. These solutions are not only systematic, but also flexible and accountable.
As we know there are not many expert consultants and marketers in the NFT domain. Hence, some agencies extend their consultation by helping their clients implement the recommended actions. This is however an extension of the service and comes only after it is requested by the client.
Implementation stage includes reaching out to the different NFT publishing platforms, communities or influencers on behalf of the client and establishing a deal with them.
The consultancy firm would also undertake the negotiation and finalization of the deal in a manner that is most profitable for their client’s business.
Consulting firms are able to handle such communications as they have long-standing relationships with these important industry channels. Here, consulting firms act as a facilitator that helps onboard the best investors in the industry, while aligning with your budgetary restrictions.
Some NFT consulting providers go a step further and provide client learning opportunities as well. It is a value addition service that upskills the client to deal with similar issues independently.
This step includes training sessions, educational programs, goal-setting tasks, that aims to improve the viability of the organization for the coming future.
Why Should You Work With Top NFT Consulting Agencies?
There are several reasons why you should consider working with top consulting agencies:
- Expertise: Top consulting firms deeply understand the non-fungible token (NFT) market and can provide expert guidance and support to help your project succeed.
- Industry connections: Top consulting companies often have strong connections in the industry and can help you establish relationships with key players in the NFT market.
- Strategic planning: Top consulting agencies can provide valuable strategic planning and marketing support to help you develop and execute a successful NFT strategy.
- Customized solutions: Top consulting agencies can provide tailored solutions to meet your project’s specific needs and goals.
- Track record of success: Top consulting agencies have a strong track record of delivering high-quality results and helping their clients succeed in the NFT market.
In addition to the general factors mentioned above, let us try to understand some advanced benefits of hiring NFT consultants.
1. Digital NFT Strategy
Consulting services provide a comprehensive digital strategy for your project. This includes reviewing your present marketing materials and a detailed strategy for maximizing the usage of NFTs and blockchain technology to meet your objectives.
A digital NFT strategy is a plan that outlines how an organization or individual will use non-fungible tokens (NFTs) to achieve specific goals.
A NFT strategy can be developed for a variety of purposes, such as representing ownership of art, collectibles, real estate, music, and more.
The development of a digital NFT strategy involves several key steps, including identifying the goals of the strategy, researching the NFT market, and developing a plan for creating and selling NFTs.
It may also involve developing marketing campaigns to promote NFTs and identifying potential partners and investors.
An effective digital NFT strategy requires a thorough understanding of the NFT market and how NFTs can be used to achieve specific goals. It is important to continuously monitor and adjust the strategy as the NFT market evolves to ensure that it remains relevant and effective.
2. Decentralized Autonomous organization (DAOs)
Decentralized Autonomous Organizations (DAOs) are decentralized networks that are run by smart contracts and operate according to a set of predetermined rules. They are commonly used in the non-fungible token (NFT) space to manage and govern NFT projects.
NFT consultants can help organizations set up DAOs for NFT projects by providing expert guidance and support throughout the process.
This may include helping clients understand how DAOs work, how they can be used to manage NFT projects, and how to set up and configure a DAO.
NFT consultants can also provide support in developing smart contracts and creating rules and governance structures for the DAO.
They may also provide guidance on properly managing and maintaining the DAO to ensure its continued success.
Overall, NFT consultants can be a valuable resource for organizations looking to set up a DAO for their NFT project by providing expert guidance and support throughout the process.
3. Ecosystem Building
It’s critical to create an ecosystem around your NFTs if you want to be successful. NFT consultants can assist you in identifying and engaging essential partners, developing marketing and user acquisition strategies, and designing the ideal user experience.
Ecosystem building is an essential aspect of any non-fungible token (NFT) project, as it helps to create a supportive and sustainable environment for the project to thrive.
NFT consultants assist you to create a robust ecosystem around your project that assist you in the following ways
Increase visibility: By building relationships with key players in the NFT ecosystem, such as marketplaces and collectors, you can increase the visibility of your NFT project and attract more buyers and sellers.
Enhance credibility: Building an ecosystem around your NFT project can establish your credibility and demonstrate the value and authenticity of your NFTs.
Foster collaboration: Building an ecosystem around your NFT project can foster collaboration and partnerships with other NFT creators and organizations, which can lead to new opportunities and growth for your project.
Facilitate community engagement: Building an ecosystem around your NFT project can help to engage and involve the NFT community, which can lead to increased support and loyalty for your project.
They ensure that your platform is accessible to everyone—even those who aren’t running it—with their ecosystem-building services, increasing overall demand for your tokens.
4. Gaming, Sports, And Metaverse
NFTs are ideal for use in gaming and sports, as well as for developing your Metaverse. These firms have vast knowledge in all three areas and can assist you in creating the optimum user experience.
Thus, if your NFT project is about gaming or sports, these companies will be able to help you with everything from development to marketing.
5. Community Management
Community management is an essential aspect of NFT projects where consultants can assist you. Similarly, a community moderator is vital to manage a community. Consultants can help train community moderators and develop a community.
This entails devising a strategy for establishing and managing a community around your project and offering assistance and involvement to community members. Community managers are responsible for social media accounts, forums, chat rooms, wikis, and newsletters.
They may also be asked to write articles or produce graphics to promote the goals of their community and attract new members. NFT communities are mainly formed on platforms like Reddit, Twitter, Telegram, and Discord.
How Do You Choose the Right NFT Consulting Firm?
Consider why you want to engage with a consultant and what will make them a good fit for your company before you commit.
Are they experts in the field of what you require? What is their fee structure? Is it worthwhile to use their services? What have previous customers had to say about them?
These are all crucial questions that will help you narrow down your search and determine who is the best fit for your company.
Before selecting, we recommend only interviewing two or three suitable applicants. Comparing and contrasting each agency becomes more challenging as you perform more interviews.
Plus, once you’ve cut down your list of finalists, there’s no harm in doing additional research on each of them by visiting their websites and social media profiles.
You can also get recommendations from prior customers or read internet evaluations, but remember that these are likely to be skewed in favor of favorable experiences.
1. Expertise in Crypto and NFT Consulting
There are a lot of consulting firms out there, and many aren’t unique or provide anything that other firms don’t.
So, please do your homework on each organization, find out their specialty areas and who they’ve worked with in the past, and avoid being too broad at first.
We wouldn’t recommend hiring an agency with no prior expertise working with crypto projects. Also, you don’t want to hire any random agency just because they’ve previously worked on some blockchain-related projects.
Previous clientele, current projects, and previous experience working with similar companies/projects or projects specifically in the NFT domain are all crucial factors for any brand searching for a new partner or service provider.
2. Charges for the Services
When choosing a consulting agency, it is important to consider the cost of their services and ensure that it aligns with your budget. Here are a few tips for checking the budget of NFT consultants:
Request a proposal: Many consulting agencies will provide a detailed proposal outlining their services and the associated costs. Review this proposal carefully to get a sense of the budget required for the project.
Compare multiple agencies: Feel free to shop around and compare the costs of different consulting agencies. This can help you get a sense of the market rate and ensure that you are getting a fair price.
Negotiate: If the cost of a consulting company’s services is outside your budget, don’t hesitate to negotiate. They may be willing to adjust their prices or offer alternative solutions to meet your budget constraints.
By following these tips, you can ensure that you are choosing a consulting firm that fits within your budget and meets your needs.
3. Relevance of the Services Offered
Every company is unique, and what your company needs from an agency may differ from what another company requires.
It would be best if you double-check that your chosen consulting firm understands and can deliver exactly what you’re looking for.
Another aspect to consider is whether the consultant can handle all areas of your project or if you’ll need to employ someone else. Ensure you’re receiving good value for your money.
4. Past Projects and Clients
It’s critical to work with a consultancy that has a long track record of success, as trust is one of its most valuable assets.
So, seek testimonials and recommendations from previous clientele. If at all feasible, speak with them before signing a contract. This will offer you an excellent understanding of what they can do and how they collaborate with other companies. It will also assist you in determining whether or not their style is similar to your own.
On their website, you can also look at the case studies. The case studies can help you understand if a firm can highlight some of their achievements.
The firm should be easily identifiable and the information available about them should be thorough enough to give you an understanding of how they work. Take a look at earlier work and try to find answers to these questions:
- What exactly did they do? How did they pull it off?
- What was accomplished?
- How long did it take you to complete it?
- Were there any bumps in the road?
- Was everything exactly how you imagined it to be?
- Were there any unexpected twists and turns along the way?
You want someone who can produce outcomes in a reasonable amount of time and at a nominal cost. You don’t want any unpleasant surprises, such as unexpected fees!
What Services Do Top NFT Consulting Agencies Provide?
Consulting services help you develop a digital strategy specific to your project. This includes looking at your current marketing materials and determining the best ways to use blockchain technology to achieve your objectives.
The success of your NFT project is contingent on the success of your consulting services. They can help you start your NFT campaign, build a strong NFT community, and increase engagement in your NFT venture.
Consulting Services is an integral part of any NFT project. Various services help you start and run a successful NFT business. Among the services offered are:
1. NFT Selling Strategy
This service is aimed at assisting you in setting up and launching your NFT project. This includes producing a whitepaper, establishing a website, and other crucial parts of a project or initiative.
It also aids in the development of a strong community around your NFT project, increasing the likelihood that people will be interested in purchasing it after it is listed on exchanges.
Many factors go into successfully marketing an NFT product, and these professionals can assist you with them.
2. NFT Creation
This service enables you to generate your project token or coin.
It’s also intended to assist you in successfully maintaining and running your blockchain project and marketing it so that more people will be interested in purchasing it once it’s listed on exchanges. This service is beneficial if you’ve never worked with blockchain technology or launched a cryptocurrency or digital asset.
3. NFT Marketplace
NFT consultants can assist organizations and individuals in launching collections on NFT marketplaces by providing expert guidance and support. This may include helping clients understand the NFT market and effectively utilizing NFTs to boost ROI
Consultants assist in airdropping your collections as well as listing those on secondary marketplaces such as opensea
4. NFT Minting
This service assists you in setting up a minting system for your project, allowing users to create NFTs of their own.
It also assists you in creating a smart contract to allow users to buy, sell, and trade your tokens with other tokens and coins on exchanges. If you want people to be able to interact with your token or coin easily, this is a must-have service.
5. Smart Contract Strategy
Smart Contract Strategy, including strategic partnerships and sales, will help you identify project partners and create a smart contract that allows users to easily buy and sell your tokens or use your products and services quickly.
6. Viral Referral Marketing
This program assists you in setting up a referral system for your project, allowing users to earn money by referring others to it.
It also assists you in establishing an influencer program, in which people with significant social media followings help spread the word about your product or service and push their followers to purchase it!
This is crucial to successfully market your product or service, especially if you don’t have a significant advertising budget.
5 Strategies That Top NFT Consulting Companies Follow
1. NFT Social Media Marketing
According to a World Economic Forum article, the estimated 4.70 billion internet users worldwide spend 2 hours and 27 minutes daily on social media.
Social media marketing is a well-known marketing strategy for the crypto industry. Therefore, using the appropriate social media channels and establishing a presence whenever you launch a new initiative is crucial.
2. Influencer Marketing
In recent years, influencer marketing has grown enormously in popularity. On your behalf, NFT marketing experts approach influencers for your project. Influencers are people with large social media followings who can help you reach your target audience and impact their purchasing choices.
NFT consultants assist NFT Brands in increasing brand exposure, user acquisition, website traffic, and other benefits through influencer marketing campaigns. So, contacting an NFT consulting firm that can introduce you to a few or many NFT influencers will be a good first step in creating a relevant community.
In today’s competitive environment, influencer marketing is a practical strategy for publicizing your goods and services, and NFTs are no different because they have a significant following, working directly with influencers can help your product get popularity.
This is because Influencers are collectors including musicians, actors, and others who can help promote your NFT idea to a larger audience. The superb strategy to collaborate with influencers is to provide them with original scripts. Additionally, you can split some of the money they earn with them.
Blockwiz helped TRON Grand Hackathon boost their reach by more than 8 million, along with nearly 8% engagement rate with strategic influencer marketing. Read the complete case study here.
3. Email Marketing
Using email marketing, NFT marketing consultants allow you to engage with your audience, from potential buyers to customers and sponsors.
Sending relevant newsletters, announcements, press releases, and other updates creates trust and increases brand loyalty. Your NFT marketing company can offer information on brand-new NFT collections, selling well, and other relevant content to keep your audiences engaged.
Consequently, this will assist in enhancing your NFT brand. The best thing about email marketing is that you can tailor the material to your customers.
4. Promotion on Online Forums
NFT marketing consultants can help you participate in NFT-related discussions on various crypto forums.
Content creators can promote their work favorably on websites like CryptoTalk, Bitcointalk, and CryptoInTalk. This NFT marketing strategy gives the artist free word-of-mouth promotion. Additionally, it might pique the curiosity of investors, who would then start buying their products.
NFT marketing experts assist artists in getting their work in front of as many people as possible, given the popularity of NFTs as an investment choice. Directing this audience to your business from your website is quick and straightforward. Studies show that consistent contact increases retention and boosts the sales ratio.
5. Press Releases
Press releases can help attract investors, spark curiosity, and improve your company’s reputation. Press releases are used by NFT marketing consultants and may be sent to influencers, bloggers, and journalists. Press releases can help generate leads for your project.
By regularly publishing press releases on various websites and media sources, NFT marketing experts assist digital artists, graphic designers, and anyone operating in the NFT space in increasing their credibility.
Top NFT Consulting Agencies
The number of companies providing blockchain, bitcoin, and other distributed ledger technologies (DLTs) consulting services has increased. Here are five top-tier consulting firms worth considering to assist business leaders in making decisions.
Blockwiz is a Web3 marketing agency based in Toronto, Canada. The company has a long history of success in the crypto and NFT marketing space.
It is one of the most influential crypto marketing organizations with a long experience in cryptocurrency marketing and advertising.
They also help build a strong crypto community with a dedicated moderation expert team that is trained and experienced in handling and building effective communities. Over 250 crypto businesses trust Blockwiz’s consulting services.
Oceef, bitsCrunch, Caldance, Walken, Fashion League, and Arcade are among the well-known brands on the list, as are fascinating new ventures like NFT, Metaverse, and DeFi. This extensive client list attests to the company’s expertise in the field.
This firm provides customized plans based on the needs of the projects. An expert and dedicated team to work till the marketing excretion reaches outstanding results. They offer consultation and strategy based on the needs and goals of NFT initiatives.
Blockwiz offers the following consulting and marketing assistance for NFT brands:
- Influencer Campaigns
- PR and Sponsored articles
- Pay Per Click Marketing
- NFT video creation and Marketing
- Discord and Telegram community growth
- Social media marketing
- Search Engine Optimization
Since 2014, Naka has been involved in the blockchain community. They offer services like individual speaking engagements and seminar requests to keep your staff up to date on the latest in blockchain, cryptocurrencies, and NFTs.
They claim to be able to teach you about decentralized applications and how they are challenging legacy systems in a variety of industries, including finance, art, collectibles, gaming, and sports. They specialize in DAOs, which will improve how people collaborate in an online world that is more interconnected.
ScienceSoft is a company that specializes in software development and consulting. They’ve been doing software development for 33 years and NFT consultancy for the last few years.
On several NFT ventures, they snatched up over 30 industries. Apart from NFT, they have blockchain professionals working on projects such as constructing a blockchain-based supply chain and a crypto wallet.
4. Synapse Research
Synapse Research specializes in delivering digital marketing expertise and professional digital asset management to firms looking to increase their operations dramatically.
They provide a range of services, from planning and implementing an effective strategy to handling the nitty-gritty details so that the NFT brand can concentrate on developing the product.
They specialize in:
- Speaking at events
- Holding workshops
- Host conferences
They have technological experts, market veterans, and enthusiasts on their staff.
They specializes in:
- NFT and Metaverse consulting, advice, and education.
- Create a one-of-a-kind NFT Shop for artists, businesses, and brands.
- By booking your Crypto domains, Lands, and other Metaverse properties, you may increase your visibility and presence in the Metaverse.
- Using VR, AR, and XR create your unique shop and businesses in the Metaverse.
NFTs have risen in popularity in recent years. As the NFT ecosystem grows in popularity, startups and large organizations compete for their own unique NFT offering.
Projects are looking for ways to distinguish apart as the market grows more saturated. Your NFT project’s success or failure will be determined by how you advertise it. That being said, at some point in your NFT journey, you will need a consulting company for your new NFT project. And that’s where Blockwiz comes in.
We’re a full-fledged NFT consulting firm, so we can advise you on the best course of action for your company. We have extensive experience in the industry and boast an impressive team of experts dedicated to providing high-quality services.
Our track record speaks for itself: we have worked with some of the most successful brands in their industries and have been able to help them achieve their goals. Blockwiz experts can help you with your initial launch or want a more thorough review of your potential strategies.