The use of NFT in marketing is causing a ripple effect in the industry and nudging brands to devise innovative ways to encourage their audience to engage.
Until recently, marketers used to rely on social media, paid and affiliate marketing, to help reach their customers and promote their products, services, and brand. But there has been a change in how marketing is approached. The introduction and use of NFT in marketing have created a stir in the industry. The use of blockchain in NFTs has given rise to the ability to track, handle and authenticate digital assets safely and securely in the marketing industry. This rigid recordkeeping system allows brands to track the origin and ownership of their assets and ensures that the data is precise and can’t be breached.
This level of transparency is what customers have been increasingly demanding from companies, and NFTs are the segway for brands to match it. Therefore, the use of NFTs is being increasingly adopted by various brands worldwide.
Using NFT in Marketing
Experiments with NFT in marketing have already begun, and it is not long before it becomes a mainstream way for brands to create innovation. Marketers can use NFTs by:
1. Offering NFT-Based Loyalty Program
The introduction and implementation of NFT token rewards in customer loyalty are advancing to a world where customers receive experiences digitally. The challenge faced by traditional loyalty programs is that it is restricted to brand-specific redeeming points in exchange for rewards. It offers very little flexibility and also comes attached with expiration dates.
Integration of NFTs doesn’t restrict brands and helps to create unique experiences for its users. A brand can convert anything to a digital token and link it with any experience or reward. One such brand is Starbucks. The brand states that it…