As the world of NFTs continues to grow and evolve, more and more creators are turning to this technology to sell their music, photography, digital art, and more. One such artist is DLG, who approached Bello with the question of when the optimal day and time is to sell their music NFTs.
We knew this was a critical question and one that many other creators may also be wondering about. That's why we created a new dashboard specifically designed to help web3 creators like DLG.
This new dashboard includes three powerful features:
So, how exactly do these features work, and how can they help musicians like DLG sell their music NFTs more effectively?
Let’s find out.
Dynamic filtering is a powerful tool for understanding and analyzing the activity patterns of your collectors.
With dynamic filtering, you can sift through your community's onchain behavior to identify their least active and most active collection periods. This can be especially useful for those looking to release their NFTs at the best possible time.
One way to utilize dynamic filtering is through the use of heat maps.
At Bello, we integrated Heat Maps to help you better understand the optimal day and time to release your NFTs.
By visualizing your community's activity over time, you can see when they will most likely be actively collecting digital collectibles on Ethereum.
Using this information, you can make confident decisions about when to release your NFTs and potentially increase their chances of success.
For example, if you notice your community is most active in the evening, as seen in the image above, it may be a good idea to schedule your NFT drop after 5 PM. On the other hand, if you see that your community is least active after 5 PM, it may be best to avoid releasing your NFTs during that time.
The next section will unveil the second dashboard breaking down active days.
When you consider releasing your NFT collection, it's important to consider the best day to maximize your chances of success.
Bello’s Day Activity dashboard digests the data found in the Heat Map in a more comprehensive manner.
We have identified the most popular days for NFT drops as measured by a community’s purchasing behavior and compiled this information to help you decide when to release your collection.
There are several benefits to discovering the perfect day for dropping your NFT collection:
Increased demand: Releasing your NFTs on a day when high demand for them may result in more NFTs being collected.
Reduced competition: Releasing your NFTs on a day when there is less competition from other NFT projects may result in more attention being given to your project and potentially higher sales.
Convenience for your audience: Releasing your NFTs on a day when your target audience is available to purchase them may increase their ability to participate in the sale and potentially result in higher sales.
So, when is the perfect day to consider dropping your NFT collection? Well, according to our data, it varies per community.
The best way to find out is by either searching your own community’s NFT collection or running an analysis on a community of collectors you aspire to attract.
Following the daily activity dashboard, the last panel we built digests onchain data to show time patterns of when collectors are least or most active.
Once again, we digest the data presented in the heat map, to display the optimal time to drop your project.
Finding the best time to release your NFT collection can have several benefits, including:
Targeted marketing: Knowing the active times your collectors are most likely to purchase NFTs can help you tailor your marketing efforts to reach them when they are most receptive.
Improved collector experience: Releasing your NFTs at times when your collectors are most active may improve their overall purchasing experience, as they are more likely to be able to easily access and purchase your NFTs. This could lead to more satisfied collectors and potentially result in more word-of-mouth promotion for your NFTs.
Enhanced visibility: Releasing your NFTs when your collectors are most active may increase the visibility of your project and potentially result in more attention and interest from potential collectors.
Overall, understanding the active times your collectors purchase NFTs can help you better reach and engage with your audience and potentially improve the success of your NFT sales.
The key to a successful NFT drop is understanding the activity patterns of your collectors and using this information to make informed decisions about when to release your collection.
By utilizing tools like dynamic filtering and heat maps, you can gain valuable insights into your community's activity and use this information to optimize the timing of your NFT drop.
Whether it's releasing your NFTs on a day with high demand or at a time when your audience is most active, taking the time to analyze the data and understand your community can help increase your chances of success and potentially sell out your collection.
As the world of NFTs continues to grow and evolve, we hope that the tools and insights provided in this blog post will help musicians like DLG and others in the community to sell their NFTs and reach their full creative potential effectively.
Sign up for Bello Beta today!