The impact of NFTs on Digital Marketing
We live in an economic and social environment in a state of change.
From the metaverse to the progressive advance of artificial intelligence in the most diverse fields of our life, there are so many transformations that we can hardly keep up with the speed with which disruptive innovations appear every day.
It is in this area of digital revolutions that the debate around the concept and application of NFTs grows.
To have a clearer perspective on this scenario, in 2021, the NFT market moved values in excess of US$ 40 billion.
And this, at first, is just a first step, since we are talking about a technology that already influences a number of segments, including media and entertainment, fashion, retail, as well as the marketing universe itself.
But what are the possible benefits of non-fungible tokens for brands and how can their market positioning be influenced by this trend?
In this article, we explore several ways that the NFTs are impacting the way brands and influencers are marketing themselves in the digital world.
Let’s not confuse apples with oranges
Non-fungible tokens have a direct relationship with the development of cryptocurrencies.
While bitcoin and other examples of digital currencies refer to tokens that can be exchanged – that is, used in some kind of transaction, usually of an economic order – the NFTs are, quite objectively, unique digital assets, which cannot be reproduced and whose authenticity is guaranteed through encrypted blockchain codes.
In other words: we can understand NFTs are certificates that guarantee the authenticity of any digital element – a photograph, a visual prototype, collectibles, among others.
The first application of an NFT dates back to 2014, when it was presented at an event on art and technology at the New Museum of Contemporary Art in New York.
Since then, non-replicable digital works based on NFTs have been commercialized for expressive values in auction houses around the world and have attracted the attention of other market segments.
Digital Marketing and NFTs
Digital marketers soon realized the potential of NFTs, both to drive advertising and to generate revenue.
In this sense, they have been used to promote renewal as well as the repositioning of classic brands with new artists.
Involving your audience with concepts and ideas is a great charm in creating or renewing a brand.
A company's brand is certainly one of its most valuable assets.
Developing a strong and remembered brand in a scenario where metaverses and NFTs are emerging is a very challenging task of constant dedication.
The applications of NFTs in marketing and the future
It is in authenticity that digital marketing sees the opportunity to generate value, brand lovers and personalization for brands and companies.
Your brand’s visibility is enhanced first and foremost through high-quality digital marketing.
Professor Philip Kotler, considered by The Wall Street newspaper as one of the 10 most influential thinkers in the business area, reinforces in his recent work “Marketing 5.0” the integration of the power of technologies to the new values of humanity.
Such a junction, when talking about NFT, can form a unique and powerful bond with consumers and fans.
Opposing the reproduction logic, non-fungible tokens deliver the incomparable experience of owning something original that other people cannot have.
In addition, they are easily accessible, since marketing strategies with this technology can occur from any electronic device such as tablets, notebooks, or a Samsung cell phone.
NFTs can be viewed as a way to directly connect to your fanbase.
Ownership is a powerful idea and establishes a closer relationship between your customer and your brand. For example, NFTs allow musicians to sell their music directly to fans instead of going through streaming platforms.
In terms of value generation, NFTs contribute to the creation of the idea of scarcity, offering something unique and creating an identity bond between brands and consumers.
Consequently, from offering unique experiences to consumers, networks of brand advocates are being built and engagement with companies only grows in the face of the search for exclusivity offered by NFTs.
Finally, we also have the personalization factor.
Digital marketing strategies for NFTs
As the popularity of NFTs grows, so does the need to create an effective NFT marketing strategy.
With so many NFT marketplaces, firms have a variety of alternatives for developing NFT marketing strategies.
Working with a well-known NFT marketing business could help you get the outcomes you want.
Here are some examples of digital marketing tactics that organizations might employ to meet their goals:
1) NFT LISTINGS
This is the first step to take if you want to get into NFT marketing.
Make your own NFT and make it available for sale on NFT exchanges.
Taco Bell is well-known for its NFT program. Consider the following as an example:
Based on their product, they created a series of NFT artworks. In less than 30 minutes, they were all gone.
This is one of the most effective methods for profiting from NFTs. As a bonus, you get to promote your company through a creative campaign.
2) INFLUENCER MARKETING
People trust social influencers more than firms that sell themselves.
As a result, influencer marketing has exploded in popularity over the last few years. It would thus be advantageous to contact an NFT influencer in your field.
As a result, your NFT initiatives might be noticed by your target audiences.
Believe it or not, if done correctly, this could pay off handsomely.
For example, the NBA developed Top Shot as a marketplace in conjunction with influencers, and it garnered 7 transactions every minute.
3) PAID MARKETING
Although we all prefer organic traffic, sponsored advertising continues to thrive.
Paid ads would provide you a larger audience and a more active online presence, especially in the NFT space.
As a result, they're an important part of NFT's marketing services.
You might use well-known platforms like Facebook, Yahoo, and Google, among others.
As a result, by combining effective social media management and search engine optimization, you can have an active online presence and exposure.
Make sure you're not wasting your money.
4) DISCORD & TELEGRAM
The cornerstone for selling your NFT projects to a global audience is community building. Discord and Telegram are two apps that might help you connect with your audience.
Discord is a real-time communication platform that helps NFT communities emerge.
It allows you to setup servers or channels for NFT-related talks.
You can also use memes, GIFs, and other graphics to advertise your NFT initiatives.
It's time to invest in this new Marketing 2.0
In other words: we are talking about a whole new context that reduces the bridges between brands and customers, creates identification, a sense of belonging, and the potential generation of new revenues.
And this is just the first glimpse of a horizon that is only in its embryonic stage.
With the advance of the metaverse and the definitive collapse of the walls between the physical and digital universes, new applications may emerge within an exciting consumer environment that is beginning to unfold.
In this sense, it is up to marketers to study the advance of NFTs in the contemporary economy, since the fact is that, regardless of what the market configuration will be, it is very likely that it will continue to value what is unique and exclusive.
There is no doubt that non-fungible tokens have expanded the way of thinking and making money in the digital environment.
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