Technology has developed rapidly in recent years. One area that has made some of the fastest advances is blockchain. That doesn’t mean that only cryptocurrencies like Bitcoin, Ethereum, and a host of other cryptocurrencies are sold in the crypto market. Let’s look at non-fungible tokens (NFTs) and how và Brands can use NFT. use in their marketing campaigns.

Why is NFT important to brands?

One of the main reasons NFTs are important for branding is that they can be used to represent digital files such as art, audio, and video. They are so versatile that they can represent other forms of creativity, such as virtual real estate, virtual worlds, fashion, etc.

What does this have to do with your brand and your marketing strategy?

Thanks to global interest, NFTs have opened up new ways to tell brand stories and connect with consumers who, as you know, are the two main pillars of an effective marketing strategy.

With NFT you can:

• Create a unique brand experience

• Increase brand awareness

• Promote interaction

• Create interest in your brand and your products

• Ultimately, NFT can help you increase conversions and increase sales.

This is how brands use NFT to drive their marketing.

6 ways brands are using NFT

The concept of NFT in marketing can be a little elusive. Like most confusing things, the best way is to see examples.

Here are some nifty ways brands are using NFT. Hopefully you can get some inspiration from them.

Taco Bell GIFs

Research shows that 83% of Millennials prefer doing business with brands that match their values. That’s why brands need to be open (and genuinely) supportive of the causes they believe in.

While Taco Bell has been doing this through their platform for years, they have taken it to the next level by selling Taco-themed NFT GIFs in support of the Live Más Scholarship.

Within 30 minutes of listing their 25 NFTs (called NFTacoBells) for sale on Rarible (an NFT marketplace), all of the GIFs were gone. Each GIF starts with a bid price of $ 1. However, they all sell for thousands of dollars, with one costing up to $ 3,646.

Creating and selling NFTs was a smart move by Taco Bell as it got a lot of buzz in mainstream media and social networks. It’s always good for business.

As with Taco Bell, you can kill two birds with one stone with NFT:

Increase brand awareness

Support a good cause

Both are powerful elements that can help drive your brand’s business forward.

RTFKT digital sneakers

Are you looking for a way to revolutionize the market and make a name for yourself?

NFT can help you with that.

This is what happened when a little-known Chinese virtual sneaker brand called RTFKT designed and auctioned a pair of NFT sneakers for Lunar New Year.

This pair of sneakers sells for a whopping $ 28,000.

That’s pretty impressive for a brand that’s only two years old, especially when they’re selling a pair of sneakers that you can’t touch, let alone wear. As impressive as it is, it’s still $ 3 million less than another pair of NFT sneakers they designed in collaboration with 18-year-old artist FEWOCIOUS.

With NFTs still in their infancy, now is the right time for marketers to join the group. It’s a great way to get exposure and build a following.

As a marketer considering ways to use NFT technology, RTFKT can be your guide. Create limited edition memorabilia to celebrate important events and special holidays and use them in your holiday marketing campaigns. You can give them away to the first X number of customers or even auction them off as stand-alone products.

Grimes videos

Six million dollars in 20 minutes.

That’s how much Grimes made with a collection of 10 NFTs auctioned on the Nifty Gateway.

It is clear that people are interested in NFT and brands can use that interest to market their products. For example, you can:

Collaborate with artists or auction sites and showcase your brand in the auction.

Create an NFT and auction it off for charity.

Run a competition (to generate leads) with the price of NFT.

Marketing is about keeping up with current trends and using your creativity to harness the excitement around them to get attention to your brand.

Released album ‘When You See Yourself’ by Kings of Leon

With so many musicians and bands, the music industry has become very competitive. Building and maintaining a loyal fan base is no longer as easy as it used to be.

The kings of Leon found a way to solve this problem.

They released their album “When You See Yourself” as NFT.

The Kings of Leon are using three tokens for the first album release of its kind. One has a special album package, while the second offers live show perks. The third type of token offers exclusive audiovisual art.

While the album is available on all music platforms, the NFT version is only available on YellowHeart for $ 50.

NFT sales were only open for two weeks, after which no album tokens were generated. This move made the tokens a tradable item.

Kings of Leon went down in history as the first band to release an NFT version of an album.

In addition, it impresses fans by allowing them to own a digital collection. Now is a great way to build brand loyalty.

Beeples artwork

Virtually unknown in the mainstream art world, Mike Winkelmann has become a legend.

He sold a JPG file for $ 69.3 million, making it the third most expensive living artist at auction time.

The file is a work of art sold as a non-fungible token and is the first all-digital NFT to be auctioned by Christie’s.

The two-week auction had to be extended by 90 seconds as a number of bids appeared towards the end of the auction.

What lessons can brands learn from this?

Quickly adopt new technologies and ideas. As the competition gets tougher every day, you need to be willing to take risks and assert yourself in order to move forward.

Nyan cat. GIF

A decade ago, Nyan Cat GIFs exploded in the digital market with an explosion of colors. Creator Chris Torres created an NFT version of the GIF that sold for over $ 500,000 on the Foundation crypto auction site.

Law. An animated GIF has sold for over half a million dollars in the past.

Chris doesn’t stop there, however. He held an auction where classic memes were auctioned off as NFTs. One of the memes, Bad Luck Brian, sold for over $ 34,000 at Foundation.

What can brands take away from it?

The lesson here is that your customers are ready to pay for great experiences. Take advantage of this by converting some of your best ads into NFTs. Create an event that you’ll auction them off and make sure the event is public.

Not only will this help increase your brand awareness, but it will also help you reach new audiences in the tech space.

Conclusion

NFT is great at creating unforgettable experiences for your customers. They are also a great way to get in touch and connect with your target audience.

Although this technology is still in its infancy, brands need to pay attention to it. More specifically, you need to research how you can use NFT in your marketing strategies. For example, you can create stylish designs for your products, create memorable advertising campaigns, or collaborate with NFT creators.

The bottom line is that NFT technology has always been around and will certainly become part of digital marketing.

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Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.