A roadmap is an essential part of any long term NFT project. Yes, there are some projects over the last 6 months that have taken the “no roadmap, no expectations” route, but few have had success outside of a short-term pump.
A roadmap helps you track progress, set expectations, and ensure everyone is on the same page. But what goes into an NFT project roadmap? In this blog post, we'll answer that question and provide some tips for creating your own roadmap.
1. Define Your Short and Long-Term Goals and Deliverables
The first step in creating your roadmap is to define your short-term and long-term deliverables. What do you want to achieve in the short-term, and why? Consider what holders will want to see first and what you are capable of delivering. Why do you need to raise funds? Why do you need to charge to mint? What happens if/when you mint out, where will these funds be going?
These should be a bit more specific, and have loosely-placed dates around them. No, you don’t need to be rigid with these timelines - but aim to be realistic with them. Things change, and that’s ok as long as you keep your holders involved in the process.
If you can answer these questions above in an effective, easy to follow manner, it is much more likely that you’ll get people on board to join your vision. Roadmaps need to be clear, engaging and benefit through simplicity.
It is also important to not make a generic ‘copy/paste’ short term goal. Add your own twist into it. What makes your project unique? What makes yours different from the other thousands of projects that are competing for attention? If you can’t answer this question, you may not be ready to start your own collection.
What are your long-term goals? Let’s assume your project delivers the first three months of deliverables (most don’t), where do you go from there? These answers don’t need to be as detailed as the short-term deliverables - they can be something that your holders can look forward to in the future - and are encouraged to root for you hitting the short-term milestones.
2. Set a Long-Term Vision
After you've defined your short-term and long-term goals, it's time to set a long-term vision. What's your plan for world domination? Joking aside, setting a long-term vision will help keep you and your holders focused on what's important. It’s easy to fall victim to the day-to-day changes and noise that comes in this space (it seems like one week in Web2 is equivalent to a year in Web3), and having a North Star to guide you is essential to cut through the noise.
It will also provide a guide for decision-making when unforeseen challenges arise. Any project founder or entrepreneur in general will tell you that challenges will come up. Having a long-term vision can help guide you in these times of trouble.
3. Include Tangible Benefits for Holders
One of the key components of an NFT project is providing tangible benefits for holders. What can holders expect to gain from holding your NFTs? So what if you hit your milestones, or deliverables? What benefit does that bring to holders? What’s in it for them? Whether it’s IP rights, airdrops, collaborations, etc., by having these drawn out and explained ahead of time, as your holders will thank you in the future. Also, this can get your holders involved in the long-run and join you for the journey that is holding your NFT.
To conclude, an NFT project roadmap is essential for tracking progress, setting expectations, and ensuring everyone is on the same page. When creating your own roadmap, be sure to include short-term and long-term deliverables, a long-term vision, and tangible benefits for holders. By following these steps, you'll be well on your way to success.