NFTs: How brands use them as a marketing tool
Non-Fungible Tokens (NFTs) are unique blockchain-based digital assets that have gathered a lot of attention recently.
NFTs can take many shapes: collectible cards, pieces of virtual land in a virtual world, playable gaming characters…
1/ But WTF is an NFT?
An NFT has mainly 3 powers:
- Creating unique online objects that virtually cannot be altered or removed
- Creating a virtually unbreakable bond between that object and its owner
- That bond can be transferred to someone else easily
Note: it can also be programmed to do many things, for example, to pay a royalty to the original creator when sold, etc…
2/ So what?
Everything can become an NFT.
Your apartment can one day be represented by an NFT and traded as such.
NFTs create the possibility for safe ownership & trade without needing a centralizing intermediary.
It’s the future of the internet and marketers should pay attention.
3/ NFTs can be used for giveaways
We will come to a point where rewarding loyal customers will likely be done in NFTs.
Why?
It will hold more value for the customer, it’s tradable and it will give a sense of exclusivity and ownership in your brand to your customer.
4/ NFTs as authentication tools
Luxury brands and brands launching limited edition products will use NFTs to authenticate their products.
NFTs have the power to limit counterfeit products and, again, give a sense of more exclusivity.
5/ NFTs for launch promos
A cool way to engage customers for a product launch is to offer NFTs.
Imagine if the Star Wars saga had launched limited edition NFTs for their first movies coming out.
Imagine what those NFTs would be worth now.
6/ Make a limited edition even more desirable
I think you’re starting to get the gist of it.
NFTs have the power to make something authentically more unique.
7/ All license owners will use it
How long before Harry Potter, Hello Kitty, or Marvel start launching their own NFT line?
Not long I am willing to bet. I am betting they’re working on it right now actually.
Those NFTs could be collectible cards, exclusive moments of films, etc…
8/ Celebrities with large platforms will use it
People with strong personal brands such as famous athletes, for example, are jumping in.
They will use digital collectibles to raise money for a cause or make money for themselves.
9/ Community building & exclusive events
Luxury brands are very interested in NFTs because it’s a way to create a digital scarcity and exclusivity with anything related to their brand.
NFTs can also be a great excuse to throw an exclusive auction event and make your top customers feel extra special.
10/ Is there a virtual luxury market?
Can you for example sell a super expensive high-end watch that just exists online?
With NFTs, well, apparently yes…
To quote a famous contemporary philosopher, GaryVee: “today, the digital world IS the real world”.
11/ The gaming industry will be all in
The video game industry has spotted the opportunity and like many other industries, they are wondering:
Why sell a “plain something” online when you can sell it as an NFT?
Why sell a plain product when you can sell an asset?
Note: every time an NFT item is resold on the secondary market the publisher could claim a share.
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Thanks for reading!
B.
I believe that NFC is the future, and it has already come. Companies that use NFT to attract their brand or products act very wisely. NFT are the same assets, only in JPG format. I also only recently got acquainted with NFT. One day I realized that I could also make money on my personal collection of jackets in this way, and not just by selling them live. I contacted the company fuego.no, which created digital receipts of my collection for me. I am sure that it will cost even more in the future. Thus, one would have to be a fool not to take advantage of it.