NFTs are taking the art and technology world by storm and can be used in marketing. Here’s what marketers need to know about NTFs, including how you can leverage them to grow your business. If you want my team to just do your marketing for you, click here
What are NFTs?
NFT stands for non-fungible tokens
- They are digital assets that can be bought and sold, just like any other piece of property
- Each NFT is tokenized which means it has a digital certificate of ownership that makes it unique
- Ownership token is stored in a digital ledger, called the blockchain
How much does it cost to create an NFT?
Depending on the size of the campaign, expect to pay between a few hundred and a few thousand dollars depending on the number of people involved.
Build Brand Awareness: Marriott
Leveraging NFTs through its Marriott Bonvoy travel program
- Partners with three artists to create three different NFT’s based on travel experiences
- Unveiled at Art Basel, a premier modern art show
- Drawings were held to raffle off an NFT
- 200,000 Bonvoy points
Promote In-Person Events: AMC/Spider-Man
AMC offered first 86,000 AMC investors who bought or reserved a ticket the opportunity to receive a free NFT.
- To receive the NFT, users had to be a member of the AMC rewards program, and show up to the theater in person to watch the movie.
Expand Audience Reach: Bicycle Cards
Bicycle, one of the world’s oldest card-making companies, is looking to reach a new audience with their first-ever NFT collection
- The brand has been a staple in the card printing industry for over a century, but times are changing and Bicycle wants to reach younger audiences with NFTs
Drive Pre-Orders
Gary Vaynerchuk used NFTs to promote his new book, Twelve and a Half: Leveraging the Emotional Ingredients Necessary for Business Success
- For every twelve copies buyers purchased in a 24-hour period, they’d earn one NFT
Conclusion
NFTs provide marketers with a new way to reach their audience, drive awareness, and even promote new product lines.
- However, before diving into new strategies like these, make sure you are making the most of SEO and content marketing. These time-tested strategies drive long-term growth
Protect Brand
Legacy brands are leaning into NFTs as a way to protect their brand image
- Robert Mondavi Winery has partnered with artist Clay Heaton to create a collection of wines featuring porcelain bottles and NFT to authenticate the wine
- They launched this collection in an effort to get ahead of the curve in wine providence
Kinetic Sand
Using NFTs to raise money for the Boys & Girls Clubs of America (BGCA), to expand their arts and creative experiences programs
- 84 percent of millennials say they prefer to support brands that are transparent with values and a culture they can trust
- Kinetic sand is a popular brand that has partnered with the BGCA
