Crypto and NFT Advisors

Crypto & NFT Advisors | The Ultimate Guide

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    Crypto and NFT Advisors

    How to Get Crypto & NFT Advisors for your Project?

    When you’re starting a blockchain project, whether it’s crypto, DeFi, NFT, or Gaming, figuring out how you compensate and structure your advisors, team members, and investors from the start is crucial.
    Crypto and NFT Advisors

    Looking for Crypto & NFT Advisory for your Project?

    Crowdcreate is a leading crypto & NFT growth marketing agency and advisory. Crowdcreate is an award-winning full-service consultancy being named “Top Crypto Marketing Firm” by Forbes, CoinBureau, and Clutch.

    Crypto and NFT Advisors

    Where to Find Crypto & NFT Advisors?

    At Crowdcreate, we provide advisory and strategy on how to setup your NFT & crypto project. First, no company is the same, and that’s why we recommend you reach out to our team for an initial consultation on your unique situation.

    Crowdcreate Network

    Crypto and NFT Advisors

    How to Setup Crypto and NFT Advisor Relationships?

    As Charlie Munger once said, “show me the incentive, and I’ll show you the outcome”. Some of the top projects spend months figuring out tokenomics, incentive structures, and investor allocations to be setup for success.
    Crypto and NFT Advisors

    How to Setup a Startup Board of Advisors?

    The purpose of this guide is to setup industry best practices and guidelines that you can follow if you need a template for your crypto, NFT, web 3.0, or DeFi project.

    In regards to traditional tech investments, the Founder Institute (the largest pre-seed startup accelerator) released this Founder Advisor Standard Template (FAST Agreement) to the public to start.

    How to Pay Your Crypto & NFT Advisors?

    Remember, everything is negotiable.
    When determining advisor and investor equity/token allocations, you should categorize the relationship typically into these buckets:

    Fiat, Tokens, and/or Equity Compensation?

    It depends. If you need specific guidance, book a call with our Crypto & NFT Consultancy where we advise you on how to setup a board of advisors. We recommend you setup a compensation structure that is a win-win for both the advisor and also the company. This includes proper alignment for hitting key milestones, working to achieve goals & objectives, and rewarding advisors along the way with financial incentives.

    Most startup companies make the mistake of not establishing clear guidelines on the working relationship, nor properly incentivizing the advisor to put in the work.

     

    Types of Crypto & NFT Advisors

    1. Professional Advisors – These people are “Doers” of tasks. They can help develop business models, create NFT artwork, develop use cases, design UI/UX, plan tokenomics, help with development, write white papers, and provide operations support. These people spend more than 10-50 hours per month on your project. They would ask for a % of tokens (1-10%) and/or charge a fiat amount of USD 25–250k for a 3–6 month engagement, plus a % of the raise.

    2. Marketing Advisors/Launch Pads – These people are the “Networkers”. They are marketing consultants with deep networks that can help fund commitments, or get you introduced to your target audience at scale. They are typically allocated 3-15% of the project, by acting as ‘rain makers’, and/or charge a fiat amount of USD 25–250k for a 3–6 month engagement for VIP networking.

    3. Investor Advisors/Celebrities – These people provide “Capital & Introductions”. If they are passive, expect a reasonable 2-3 introductions per month, and a 1 hour strategy call to hear their insights on what you’re working on. If you expect more than 5 hours per month, you should move them into an above category. The purpose of these advisors is to have their name and reputation attached to your project. They can earn a small number of tokens, in the range of 0.5%, and up to 20% if they are a major A-list celebrity but putting in minimal work.

    4. Generalist Advisors – These are people you can access through Crowdcreate’s vetted networks of crypto & NFT expert consultants. Board of Advisor roles average from $7.5K to $30K per month, or $500-$1,500 per hour for strategy consulting. However, they typically will not allow you to attach their name to your project until it’s something they’re interested in getting more involved with.

    Hire an NFT Consultant

    Crypto and NFT Advisors

    Looking to bring on advisors and build your team at your Crypto & NFT project? Schedule a call with Crowdcreate’s team of NFT advisors and experts so we can help structure your own agreements.

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