The Future of NFTs in Digital Marketing: How They’re Changing the Landscape of Brand Activations

From unique digital experiences to monetization opportunities, we explore a few of the endless possibilities of NFTs in marketing.

The following article is based on the ideas and insights of Reshma Lakhani, and all credit for the content belongs to her.

Want to learn how NFTs are changing the game in digital marketing? Check out our latest article that offers five key takeaways for brands looking to prepare for the NFT revolution.

TL;DR: Here are the 5 key takeaways:

1. NFTs are set to become a major part of the marketing landscape in 2023, offering brands a unique way to connect with their audiences and stand out in a crowded market.
2. NFTs offer a wide range of use cases, from establishing brand authenticity to offering new monetization opportunities, incentivizing fan engagement and open doors to perks and rewards.
3. Brands can use NFTs to create unique digital experiences that showcase their values and brand identity, such as limited-edition collectibles (music NFTs) or token-gated access to exclusive events.
4. NFTs offer a new level of transparency and traceability that can be used to build trust with customers, making it clear who owns each asset and when it was last traded.
5. To prepare for the NFT revolution, brands should take the time to understand how NFTs work and how they can be used in marketing, be creative in exploring new ways to use NFTs that can act as gateway to exclusive perks, and to showcase their values and brand identity, and embrace transparency to build trust with customers.

If you’re not familiar with NFTs yet, don’t worry — we got you covered. Basically, NFTs are unique digital assets that are verified on a blockchain. Think of them like digital collectibles or art pieces that are one-of-a-kind and cannot be replicated or duplicated. And as we head into 2023, we’re seeing more and more brands jumping on the NFT bandwagon. Here are the 5 insights on how NFTs are changing the landscape of brand activations:

1. NFTs offer a new way to engage with customers: NFTs function as the ultimate passkey to benefits in a new and exciting way. By offering limited-edition NFTs that provide exclusive experiences, brands can create a sense of exclusivity and reward their most loyal customers. For example, a brand could offer an NFT that provides access to a private event or a one-of-a-kind virtual experience.
2. NFTs can help with brand recognition and loyalty: Offering exclusive NFTs can help brands create a new form of loyalty program. Customers who collect a brand’s NFTs can feel like they’re part of a community, and this can help build brand recognition and loyalty. For example, a fashion brand could create a limited-edition NFT collection of their products, which would incentivize customers to keep collecting more pieces.
3. NFTs can provide a new revenue stream for brands: NFTs can be sold at auctions or through marketplaces, which provides a new revenue stream for brands. Creators and artists can also monetize their work by selling NFTs directly to their fans and collectors. For example, a musician could create an NFT of a new album or exclusive merchandise, which fans can purchase as a collectible item.
4. NFTs are a new way to showcase creativity: NFTs offer a new canvas for creatives to showcase their work. From digital art to music, NFTs provide a platform for artists to sell their work directly to their fans and collectors. Brands can also use NFTs to showcase their creativity and values by creating unique digital experiences. For example, a food brand could create an NFT of a limited-edition recipe or cooking lesson.
5. NFTs are still in their early stages: While NFTs have been around for a few years now, they are still in their early stages. We can expect to see new use cases and innovations as more brands and creators experiment with NFTs. As blockchain technology continues to develop, we may see new features and functionalities added to NFTs, making them even more versatile and valuable.

Overall, NFTs are changing the game in digital marketing. They offer a new way for brands to engage with their audience and create unique experiences. As a web3 social platform, we’re excited to be involved on how NFTs will continue to evolve and shape the future of marketing. So, let’s get creative and start exploring the possibilities of NFTs together!

Community Marketplaces can be leveraged by brands

What Should Brands Do to Prepare for the NFT Revolution?

As the NFT market continues to grow, more and more brands are exploring the potential of this new technology to engage with their customers in innovative ways. To prepare for the NFT revolution, brands should take the following steps:

1. Understand the Technology: Brands should take the time to understand how NFTs work and how they can be used in marketing. This will help them to identify new opportunities and create unique and engaging experiences for their customers. To facilitate this process, platforms like Welook Labs empower brands and marketing teams to learn and use this new technology in a practical manner.
2. Be Creative: NFTs offer a new canvas for creative branding. Brands should be thinking outside the box and exploring new ways to use NFTs to showcase their values and brand identity. With Welook Labs, brands can segment audiences using the historic data points of other brands or communities to target customer better and reach a larger audience by targeting other communities.
3. Embrace Transparency: NFTs offer a level of transparency and traceability that can be used to build trust with customers. Brands should be transparent about the creation and ownership of their NFTs, and use blockchain technology to ensure that each asset is verified and tracked.
4. Stay Agile: The world of NFTs is constantly evolving, and brands need to be able to adapt to new developments and trends. By staying agile and keeping up-to-date with the latest developments, brands can ensure that they are always ahead of the curve. Follow us today.

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If you want access to advanced features like NFT Tickets or Token Scanner, please sign up and send a request access with a a quick message to agency@welook.io letting us know more about you.