Much of the current buzz surrounding NFTs relates to digital art but they can be sold for any digital asset. As this space grows, we’re seeing the model applied beyond digital artworks. The NBA has a dedicated website Topshot giving fans the opportunity to buy their favorite moments in basketball as digital collectibles. The site has racked up to $200m USD in sales, with one Lebron James dunk shot selling for over $200k. Jack Dorsey, CEO of Twitter, has auctioned his first ever tweet, which at the time of writing had reached a high bid of $2.5m. The band Kings of Leon just sold NFTs for their latest album, offering gig tickets, exclusive tracks and artworks with the purchase.
This opens the door to a new world of brand engagement and an opportunity for brands to interact differently with their customers by “minting” special experiences, collaborations, iconic images, memorable ad campaigns, luxury designs etc. This is creating a whole new market through short term cash injection, and allows brands to retain control of their original assets without fear of manipulation, copy-cats or alterations.
Creating an NFT marketing strategy for your brand, allows you to:
Get more interaction with your customers.
Immerse your clients to unique brand experience.
Increase your conversions.
Create new branding strategies and exclusive promotions for token holders.
Build a strong rapport with your community and make a positive impact to their members.
This new model of monetization and ownership for digital media got me thinking how brands could benefit.
