NFTs came with a truckload of takeaways for digital marketers, especially in an era where the buzz around cryptocurrency is increasiong. Art has always been an integral part of marketing strategy, but no one expected how the NFT revolution would change the face of digital marketing across sectors.
Non-fungible tokens (NFTs) are digital assets that store art, animations, text, or even audio on a blockchain. There is have a unique appeal to them, and unlike many other cryptographic assets, you can’t replicate them or trade them. Instead, you pay to acquire ownership of them.
NFTs have brought a windfall to the crypto space in the past year, with some tokens selling for as high as $2.9million.
How then do NFTs improve the digital marketing strategies of brands? Well, marketing strategies aim to build revenue channels for brands, and NFTs can do just that.
NFTs allow businesses to engage in newer forms of customer interaction with products and brand storytelling. This way, brands can increase awareness and interest, which ultimately leads to more revenue.
In this post, I present five specific methods brands can capitalize on to channel NFTs and innovative marketing into a revenue-generating process
Brands can use NFTs to create unique brand experiences
We currently live in an era where digital consumerism is on the rise. In essence, more people are becoming satisfied with experiencing products and services through a digital medium rather than physically. Since NFTs come in art, 3D animations, videos, or even music, brands can convert their products into these mediums for sale as NFTs.
By so doing, digital consumers can become owners of digital copies of products and still experience a feel of the product.Continue reading “How Brands Can Use NFTs for Their Digital Marketing Strategies”