Amid concerns about a volatile crypto market and fading interest in collectible NFTs, brands are experimenting with new ways to evolve NFTs. From being novel collectibles that are just sold or given away, NFTs can be integrated into more parts of the business. In doing so, companies can continue to move into the Web3 world and activate loyal communities.
NFTs are much more than investment and trading opportunities. Characteristics like uniqueness, transparency, and ownership can make NFTs an ideal branding, marketing, and community-building tool as well. As it turns out, NFTs present endless possibilities. They have enormous potential to build an expanded, shared-ownership model for loyalty, providing unique experiences, community building, storytelling, and customer engagement.
Not just that, NFTs are also being seen as a part of advertising commercials and campaigns. Recently, Adidas featured its NFT, Indigo Herz in its FIFA world cup commercial. This got audiences raving as many were surprised by the sudden appearance of an NFT in a commercial. In another approach, brands are leveraging NFTs in unusual and creative ways.
Since NFTs can take the form of any piece of digital content, including memes, tweets, and more, they can be used across marketing campaigns with great versatility. Today NFTs may be associated with expensive digital art and collectibles. But soon more creative and unusual use cases for the tokens may emerge in the future.
Thanks to the global interest they’ve generated, NFTs may indeed open up new ways of engagement and consumer interaction. The future of NFT is brimming with new hopes on the horizon. Instead of waiting on the sidelines to watch what other popular brands are doing, it may be time for companies to experiment and take the plunge. While the technology is still in its infancy, it may just be a matter of time before it goes mainstream!