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Advertising’s New Tech Toy: NFTs
Immortalise your brand logo in immutable digital code
The ad world is often regarded as an early adopter of tech. Global brands wanting to be seen as innovative and ahead of the curve are quick to jump on the latest, shiniest tech. From Augmented Reality to Instagram filters and curated experiential experiences, brands and their advertising agencies constantly have their radars out for the next big trend that could generate buzz, go viral, create hype and capture attention-deficit eyeballs.
All this effort works towards building up precious brand equity for companies — the reason why consumers will pay multiple times per dollar compared to a similar but no-brand product.
In this primordial advertising soup where art-meets-commerce, the boundaries between artistic and commercial value are often blurred.
What’s fitting very neatly into this tensile space is an edgy, new technology that has surfaced from the far corners of the virtual world: NFTs or Non-Fungible Tokens.
In essence, NFTs are one-off, unique digital art assets locked by cryptography code and auctioned off to bidders in cyber marketplaces. Some call it cryptoart. And it is the latest collector’s frenzy.
