Scott Martin has worked as a professional designer and animator for many years, creating packaging, producing commercials, and establishing a lucrative freelancing business like a digital artist under the moniker Burnt Toast. But it was when he began designing and marketing NFTs that his profession truly took off.
In October of last year, Martin and his two founding members, Jordan Castro and Evan Keast, released Doodles, an art collection made up of 10,000 NFTs that sold out in minutes. Colorful pastel-hued figures with quirky and joyous attitudes star in the Doodles series. Some of the characters are people, while others are extraterrestrial, skeletons, or mascots. Martin’s subjects frequently wear colorful and quirky accessories such as sunglasses, AirPods, and celestial halos. Sales of the collection have hit $166.1 million.
How to start
The distinction between starting a successful NFT line that runs out in days and not trying to sell any at all is establishing a dedicated following for your artwork. Before releasing his Doodles collection, Martin built up his social media following as the digital artist Burnt Toast.
Martin told Fortune, “The major focus should be on generating good art and attracting a huge audience.” “To attain either of these, a lot of hard effort and time is required.” For nearly a decade, I had the good fortune of cultivating an audience for my work.”
Entering the space
Martin initially learned about NFTs when digital artist Beeple, a pseudonym for Mike Winkelmann, sold one at Christie’s in March 2021 for $69.3 million. Martin quickly realized that he could cash in on the lucrative NFT market by doing his own thing.
He kept learning more about NFTs and as well about the artist who created them. He claims he had the good fortune of meeting Seneca, the artist creating Bored Ape Yacht Club, whose work he considered “beautiful.”
Martin told Fortune, “It was so wonderful to understand that digitally created stuff could be offered as verifiably genuine art issued by the artist.” “I thought this was a fantastic fit for my business right immediately.” Before now, the only method to sell your digitally created art was to publish it as a reproduction. This new technological innovation was quite intriguing.”
Selecting an NFT marketplace
While there are other sites for NFT creators to sell their work, Martin chose Foundation, a platform that focuses on creators and high-quality art, according to Martin. He claims that while he isn’t completely committed to one platform, it was his first pick.
Martin explained, “Foundation is an invite-only site.” “That is, you must be welcomed by an artist who is already a member of the platform.” This aids in site curation and helps to maintain a higher overall level of quality.”
Price your NFTs
Martin admitted that valuing his work was a changing target.
When Doodles first launched on Oct. 17, 2021, each piece was sold for 123 ETH, or around $306. Within a month, pieces on OpenSea were selling for ranging from 1.25 ETH to 2.3 ETH, which is about $3,000 to $5,635 in today’s market. All primary Doodles purchases were completed in a matter of minutes, while the current seven-day Doodles sales average is 11.2 ETH or $27,950 per NFT.
“I’d recommend settling by yourself on a rate for which you’re willing to let the task go.” When a bid is put, an auction for the next 24 hours begins. “During the bidding stage, I’ve had stuff go up in price by tenfold,” Martin remarked.