How to choose an NFT Development Team?

NFTs are big business at the moment, and the statistics prove it. The total market cap of NFTs has reached over $420 billion, and the most expensive NFT Beeple was sold at auction at Christie’s for $60 million. Over five million NFTs have been sold.

But at the same time, because it’s a relatively new technology and many people are struggling to wrap their heads around it, there’s a lot of confusion around NFTs, and people can find it tricky to figure out which provider to go with.

Choosing an NFT Development Team doesn’t have to be difficult, but it is a little bit like choosing a web developer, so it’s essential to make sure that you find a good fit. It’s all about knowing what you need to know, which is where this article comes in.

And so, with that in mind, let’s dive in. And take a look at what you need to know about choosing an NFT Development Team.

How to Succeed with a Professional NFT Development Team?

Find a good cultural fit

Arguably, the most critical thing for you is finding an NFT developer with an excellent cultural fit, which holds whether you’re building your own team in-house or trying to find an external supplier. When we’re talking about cultural fit, we’re talking about finding NFT developers that have a similar vision to you and who have the same beliefs, whether your company is passionate about tackling climate change or whether it’s trying to prioritise employees’ mental health. 

Hire bespoke developers

Some developers offer off-the-shelf software where they basically provide the same core piece of software to everyone, just making a few little tweaks to try to bring it in line with your brief. This tends to be cheaper, but it also means that you’re forced to make compromises. It’s almost always better to hire bespoke DeFi developers who’ll create your software solution from scratch. It might cost a little more, but it’s also designed specifically for you, and you don’t have to make any compromises. 

Be clear about what you want to achieve

If you don’t explain what you want to achieve and why you want to achieve it, your developers will go off on tangents and second guess everything they do. A good build starts with a good brief, and while your developers are responsible for building a decent product, you have a responsibility to them to give them the information they need to do that. 

Educate your team

Even the most tech-savvy of entrepreneurs sometimes struggle to wrap their heads around NFTs. Because it’s an emerging technology that’s received a lot of hype, it can be difficult to fully comprehend what NFTs are, how they work and how you can put them to use at your business. By educating your team about what you’re working on, you’ll help to secure their buy-in and increase the odds of not only a successful build but also a successful deployment. 

Have regular check-ins

Setting up regular check-ins with your NFT developers will help you to keep an eye on what they’re doing and ensure that you’re all on the same page and working towards a common goal. It can also help you to spot problems early, rather than waiting until the last minute and allowing them to become a problem. Then you can take steps to address them.

Establish and track KPIs

KPIs (or key performance indicators) are an excellent way to set metrics that you and your developers can track to monitor progress and see whether your development project is running on time, on brief and on schedule. After the launch of your NFT, you can also use KPIs to track its uptake and to see whether it’s performing as expected. Just bear in mind that after the initial build, this is mainly out of the hands of your developers, and if it’s not experiencing the success you were hoping for, it’s a sign that there might be something wrong with your marketing.

Iterate

NFT development, software development and website development are three different disciplines, but there’s also a heck of a lot of overlap. One of the most important things that we can apply across all three is the need to iterate, by which we mean to release updates to the core software on an ongoing basis. With your NFT developers, you may want to start by developing an MVP (minimum viable product) and release that before continuing to iterate and release new updates as time goes on.

Conclusion

Finding a decent NFT development team doesn’t have to be difficult, and much of it comes down to finding the right fit. That’s why it’s a good idea to speak to a few different potential customers and go with the one you have the most chemistry.

Of course, if you’re struggling, then we here at Zfort Group would be happy to help. We’ve got plenty of experience working on NFT projects, so reach out to us today to find out more. We look forward to speaking to you!