In the world today, NFTs or non-fungible tokens are no longer theories. Instead, they’re concepts with verifiable success stories. In fact, some big brands have started investing in them and demonstrating that real engagement in the field is viable.
On the other hand, marketers have always been interested in technologies and strategies that can give them a competitive advantage over others, so it’s not surprising at all that they’re gravitating towards how NFTs can provide brands with a lift.
Right now, Meta (formerly known as Facebook) is working on the idea of a connected metaverse while the digital landscape itself is has branched out to include 3D VR and AR environments.
While marketers should set clear goals and not chase very flashy gimmicks, they should also not miss out on what could be an excellent marketing opportunity. That’s why we reached out to Web Finance Team on how NFTs could play a role in marketing, and this was what the company had to say.
Everyone knows that NFTs are secure because they’re built on blockchain technology. This technology is also decentralized transparent and is excellent for preventing fraudulent ads.
This means it can help secure the supply chain and create a sense of security for consumers. These same features are beneficial for brands interested in building a solid relationship with their customers and establishing strong first-party data strategies.
Since all data in a blockchain is recorded in a public ledger that everyone manages, and no one in particular, transparency when it comes to data-keeping and provenance is assured. This way, consumers can be sure that their data is not shared out of view without their consent.
When it comes to marketing, two concepts are important– digital souvenirs and products. As a brand, NFTs can help you generate brand love and value through digital souvenirs.
Think of it as giving an ebook on solving problems that are peculiar to your brand every time a visitor comes to your website. The only difference is that the souvenirs you provide will be located in the metaverse, and you should think about making them rare enough to drive up their value in the future.
Furthermore, the Web Finance Team thinks digital souvenirs are personally significant to the customers. Let’s say you’re a marketer for Burger King and you’re giving souvenirs to fans of the fast-food joint, it’ll be a logo or design no one can just pick up at the store, and this type of souvenir will mean more to a fan.
According to Web Finance Team, digital marketing aims to bring brands closer to their customers, but there’s only so much a marketer can do when the product is physical. “Of course, video ads are great, but the metaverse promises to help marketers create a closer connection between physical products and customers,” said one of the experts at the Web Finance Team. Through NFTs, customers can enjoy a personified experience.