Featured Listing: A Complete NFT Project With Live Token Minting

About the business

Tell us a little about yourself. What’s your background? How did you start the business?

I am a full stack developer turned entrepreneur. I run a software house focused on web scraping and blockchain projects, we work with clients like Reckitt, Volkswagen, Ikea, Decathlon and similar, global brands. I have over 20 years of professional experience myself and I manage a team of 10 people. Colour Therapies is one of our internal projects which we decided to sell.

As an eCommerce business, where are your products made?

We have two offices, one in London, UK and another one in Stettin, Poland – very close to Berlin, with which we have strong connections in the startup world.

What can you tell us about your Customer Lifetime Value (CLV) and Customer Acquisition Cost (CAC)

Most customers only buy a single token worth 0.02 ETH. It’s difficult to talk about CAC, we have not done any calculations in this area.

How have you marketed the product and where are your customers originating from?

Our customers mainly come from social media, i.e. Twitter and Discord, which are the strongest NFT marketing channels right now.

Is the asset on your listing owner-operated, how much time does it take to run the business, who else is needed on the team, and what is automated?

Right now the token minting process is automated. If you want to mint a custom token, it takes a few minutes to change the config files and do it from the command line. Once a month uploading an updated batch of PNGs to the IPFS is required, that takes a few hours and is very well documented. There is also some front-end work required once a month, associated with updating the Daily Giveaway calendar. I would say it takes less than 30 minutes per day to check the whole operation. There is a dedicated community manager who works 8 hours per day on Twitter.

What does someone need to do to continue operating the business in its current form?

A dedicated Twitter and Discord community manager would help. Knowledge of Ethereum blockchain and smart contracts is necessary. The ability to work with Immutable X Marketplace is necessary, but they have good documentation. You will definitely need some marketing work to take place in order to advertise the project.

Growing the business

Can you list a few opportunities for a potential new owner to continue growing the business?

If you manage to advertise the project successfully you have almost 10 000 tokens waiting to be minted by users. It’s a potential income of 200 ETH. We have a warmed up Twitter account that will soon reach 2000 organic followers and 10k tweets.

What has been the evolution of this asset since its launch?

It started as an experiment but soon got some traction and we started selling our first tokens. We evolved from a metaverse-based paint company into a metaverse experience provider.

How does this business make money? What are the current revenue streams?

The project profits from selling the NFT tokens only.

What marketing channels are most profitable for the business?

Twitter and Discord are the main two marketing channels used by the project.

How does the business currently acquire customers and what is your breakdown for marketing costs?

We only spend around 1000 USD per month on Community Management and there’s no dedicated marketing budget apart from that. We acquire new customers organically.

How big is your current team? How many people does it take to run this business?

There’s one community manager and one full-stack developer, but the developer does not have a lot to do these days, everything has been almost fully automated.

What’s the reason for selling your business on Flippa?

As a software house we lack the natural ability to market our projects and this is a great opportunity for someone who would like to enter the NFT space and has ideas on how to promote the project further.