In the digital field, NFT marketing is the trend today and offers an innovative opportunity to create value for your brand, company, or product with the help of new technology.
In the era of digital transformation and Blockchain, knowing how NFTs are used in a system where the market and companies are increasingly digitizing should not be underestimated. Implementing this technology in a campaign and structuring an effective digital marketing strategy certainly has an original, unique, and innovative value.
Many companies have not yet gone too far to embrace this trend but the big brands are moving in that direction. NFTs are used in the most original and diverse ways, investing a lot but also obtaining a lot of revenue without counting the amount of new collaborations and new market niches.
We must therefore take a step back and try to understand how this technology works, what it is based on, what value it can bring to companies, brands, and advertising campaigns, what its potential is, and how to exploit it in a marketing strategy.
In this article I will explain to you:
- how they work and what are NFTs in digital marketing;
- the relationship they have with the metaverse;
- which marketing strategies are used by figures specialized in web marketing;
- because doing NFT marketing could be your trump card.
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How does NFT marketing work?
Non-FungibleToken or NFT are smart contracts, i.e. certificates of ownership of a unique and non-replicable digital product. Through a protected blockchain structure it is certified and authenticated making it non-replicable and unchangeable.
Unlike bitcoins, NFTs are not interchangeable and can be purchased following the principle of scarcity, i.e. creating a limited and non-reproducible number increases the interest of users and with it their value.
They have various forms, from video games to music, in fashion to works of art.
But what are NFTs for? How can companies profitably integrate it into their marketing strategies? This is where the so-called NFT marketing comes into play.
NFTs can be used for the launch of a new product with an advertising campaign, or as invitations to business or cultural events that operate not only in the real world but also in the virtual one, such as the metaverse, thanks to a blockchain structure. They can offer additional content or unique bonuses linked to the physical product, create new and innovative experiences in the digital field linked to brands, expanding their catchment area.
They act as a direct link to their community and allow users to purchase or collect digital objects that are probably not accessible to everyone except in the virtual world.
To better understand, continuing to read, I will explain what is meant by the virtual world (metaverse) and I will bring to your attention examples of how the best-known brands have exploited this technology to bring value to the brand and obtain an increase in sales.
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What are NFTs in the Metaverse
What is the relationship between NFT marketing and the metaverse? For those who have no idea what it is, the metaverse is a virtual environment where humans interact socially and economically with avatars without all the limitations that the real world presents.
When it comes to Non-Fungible Tokens, NFT marketing here specifically, and the metaverse we need to go one step further.
Let me explain with a practical example: a participant can enter a virtual store and buy a pair of Nike Jordans for his avatar to wear and then enter a fast food restaurant and order food that will be delivered to his real home via Uber Eat; then he can go, virtually, to a Queen concert via the Spotify Performing Art Centre. The user can continue listening to the concert via Spotify when he wants in the real world. Your data, purchases, and activities mix, move between two worlds, the real one and the virtual one.
This merging of two worlds takes place in WEB3, or the decentralized internet, which is the key to connecting the NFT and the metaverse to enter a fantasy-themed virtual reality in symbiosis with the real one.
NFT examples of their use by brands
Many brands are exploiting this technology, for example, Adidas, McDonald, Ray-ban, Nike, Gucci, and Epic Games just to name a few.
Take a look at the examples of NFT marketing that I have reported in this article, to see the excellent results obtained by large companies.
The well-known brand in the high fashion sector Dolce & Gabbana, according to the source, has sold an entire collection at auction, the most expensive in the digital sphere in the world. Named “Genesis”, and inspired by Venetian traditions and customs, it is made up of nine NFTs. Nine pieces of clothes and objects were proposed for the first time in both the digital and physical spheres, thus uniting reality with the metaverse. This collection by Domenico Dolce and Stefano Gabbana offers its followers, in addition to the products themselves, other benefits such as special collaborations and unique events. The operation resulted in a turnover of 5.7 million dollars.
The NBA has launched an NFT collection called “Moments” which consists of ten seconds of video each featuring the most memorable baskets in history, purchasable on the digital collecting platform called “Top Shot”. Users can buy, sell and trade NFTs like virtual trading cards. The initiative was born from the partnership between the NBA and Dapper Labs, the creator of Cryptokitties with the participation of high-profile investors: Micheal Jordan, Kevin Durrant, and Klay Thomson.
Another example that I bring to your attention is the collaboration between Balenciaga, a fashion brand, and Epic Games, a very popular software house creator of Fortnite. In the battle royal online shooter in question, you can buy Balenciaga clothes to customize your avatar, an interesting initiative given that the data shows that 50% of the time users spend on the game is in the creative section. The campaign was called BalenciagaxFortnite.
These are just some of the examples of how NFTs are entering the market, but it is a number that is destined to grow over time given the impact they have on sales and the growing interaction of users.
Why have an NFT marketing strategy
Having learned the potential, inserting an NFT marketing strategy into an editorial plan certainly brings significant advantages over the competition. The concept of uniqueness and exclusivity is preparing to satisfy the consumer’s need with an innovative structure that gives the possibility of creating a direct link with the user and making him live a unique experience, making him feel part of an elitist community that recognizes the value.
There are several reasons to integrate NFTs into your marketing strategy, the main ones are highlighted below.
Grow your audience and generate new revenue streams
Identifying your buyer personas by creating an identikit of the typical customer is essential in a digital marketing strategy, not least studying the most effective way to target wider and non-canonical audiences.
Non-fungible Tokens act as a link to reach that slice of the market that winks at innovation, always updated on new trends, in a world currently to be discovered and ready to experiment, offering countless opportunities and new revenue streams for companies.
Learn the latest techniques to reach wider and non-conventional audiences, including the innovative world of Non-fungible Tokens (NFTs)
Enhance your brand in an original and unique way
New technology with a niche audience offers the chance to differentiate yourself in a competitive market, the countless uses of NFTs create value for brands in an innovative, unique, and exclusive way by increasing turnover and interactions, and visibility with brand awareness campaigns.
Opportunity to create and retain a community
The direct interaction between the user and the brand is a strong and decisive factor in nurturing a relationship with an already exclusive audience. The bond of NFTs with the community allows you to create and address specific, targeted, and sewn content around your fan base, allowing you to increase your authority and maintain constant and organized communication.
How to do NFT marketing?
NFT campaigns are becoming increasingly popular and diverse, so arriving early with good ideas increases your chances of hitting your marketing goals.
Before embarking on any NFT marketing strategy, if you haven’t already navigated the digital world, there are 3 small steps to consider that can prove the effectiveness of your strategy:
- identify your target audience;
- determine which are the best channels to use to connect with your audience;
- create content for each stage of your customer journey.
To do Non-Fungible Token marketing it would be useful to know how to create NFTs and which NFT marketplace platforms to use. The key to planning an effective marketing strategy is having all these concepts clear and defined from the beginning to optimize all stages of your funnel and integrate NFTs in the right place and way.
So what are the NFT marketing strategies you can use? Here is a list of the 5 best strategies you can apply to your project and keep up with the digital transformation.
Once these steps have been implemented, you can focus on the actual strategy that you will structure by keeping these important objectives in mind:
- visibility and brand awareness;
- the importance of the community;
- the unique user experience.
Influencer marketing strategy
Influencer marketing is an ever-growing tool and allows you to take the opportunity to rely on the figure of an influencer with a base of followers installed on social channels for the promotion of campaigns, release of exclusive content, or participation in private groups.
Non-fungible Tokens can be used for calls to action, for example, and allow creators to monetize through their community and at the same time monitor campaign progress and reach a larger audience. The choice of the influencer is very important and must be in line with your target audience to optimize the results.
Fully digital influencer figures operating in the metaverse are also emerging nowadays.
NFT marketing advertising campaign
Structuring an NFT marketing advertising and PR strategy through the use of social channels such as Facebook, Instagram, Twitter or Linkedin creates a lot of visibility, and allows users to be educated and directed towards innovative technology. Furthermore, it can give a significant boost to a project as well as collect a lot of data regarding trends, needs, and desires of the public.
Another important component in terms of visibility and increase in traffic is the optimization of positioning on search engines. Staying at the top of users’ search results, through an effective Search Engine Optimization activity, definitely has a significant weight. An advertising campaign, supported by good SEO practice, is a great combo to get results.
Social media strategy and community building
Today, social media is an integral part of the daily routine of an average user, and carrying out a Telegram and Discord marketing activity is very useful in a social media marketing strategy.
The two platforms in question are at the forefront of being able to create and stay in direct connection with your community, share content, answer questions, create engagement, and keep it updated in real-time, filling that need to belong that is always alive like being human.
By downloading the Free Guide you will learn the techniques for applying Social Media Marketing to the world of NFTs
Email marketing strategy
As with social media, at a strategic level, email marketing is an essential activity for devising an NFT marketing program.
It is a powerful communication tool that allows you to stay in touch with your customers regularly, updating them on possible product releases or discounts, new content, or inviting them to events. All in a personalized and original way, thus building trust and credibility.
Co-Marketing strategy
Another form of marketing for NFT is partnerships with other equally important brands. These allow you to strengthen your promotional activities and enter markets other than your target, thus effectively increasing visibility and traffic, increasing your audience, sharing resources and collaborators, exchange and analyzing the data obtained from both parties.
The important thing is to have a clear business objective, to search for possible collaborators, then contact them and propose good ideas to organize a productive co-marketing strategy for everyone.
Conclusions and Personalized Advice
Today, marketing is a determining factor in bringing a business to success, an important step in making our new product or service known. In the field of blockchain and cryptocurrencies, it plays an important role not only because they are new technologies but also because it allows you to achieve greater exposure from the initial stage of a project and keep the attention of users and investors high throughout the process.
Using these NFTs is not as simple as it sounds, it requires deep research and understanding of how it works and how it integrates into the modern market. Keeping up with the digital transformation, changes, and new trends is essential for the growth of a brand or company, it is no coincidence that the big fashion, music, video games, sports, food, and beverage brands are riding this wave and getting great results.
Working with NFT Marketing strategies improves brand awareness, community building, and above all the user experience throughout the direct interaction process with your brand. Therefore, exploiting the potential of this new technology will certainly bring significant benefits to any business.
All that remains is to say good creation and experimentation!
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