Effective ways for brands or companies to bring their digital infrastructure to this technological innovation that is non-fungible tokens.
As we have been reviewing in the different articles of NFTexpress, we repeatedly see how medium and large brands or companies join the rise of non-fungible tokens.
The intention of these is to create a marketing strategy that manages to reach the new generation of society that interacts almost 24 hours a day on the Internet, which performs all kinds of activities within it and satisfy their primary and secondary needs through the web and the services that companies have for all people.
We will often see how NFTs can be added to the digital infrastructure of a business, they do not have to be the main model of the business, unless the brand arises as a result of an NFT collection, but if the company is already created, the effectiveness will be in adding this service as one more leg to the table.
Non-fungible tokens have the potential to be the same as a website in 2005 or a social network in 2015 because the NFT ecosystem gives users and consumers of brands a benefit or exclusivity outside of the digital environment.
Everyone’s reputation lives, is enhanced or diminished both online and offline and this concept is becoming more and more frequent and massive. The new generation does not differentiate these two worlds (the real and the digital) but complements both realities and everything happens and is associated in both places.
It is already common to see stories and publications of people on social networks where they share everything that interests them, from a new course they are doing, a trip or a dinner at their favorite restaurant, but all these publications are experiences in which the user does not really own any of them, they are only moments that people can not keep as an asset that provides benefits and exclusivity, that is why here begins to play a crucial role the technology of the NFT.
One of the examples of an effective marketing strategy linked to NFTs is that of the apparel brands such as Nike or Gucci, pioneering businesses in using non-fungible tokens as another service for their customers. They have created virtual experiences and objects, marketed as NFTs with the aim of creating new forms of association and consumer benefits. The fusion of physical and digital ownership can clearly be realized with NFTs.
That is why businesses created on the web2 or even in the physical world, can easily join the web3 and the technology offered by the NFT ecosystem. A restaurant, for example, can deliver POAPs or Proof of Attendance Protocol, which are pins or digital certificates that are given to attendees of events or different sites and go directly to their wallet. Then, this non-transferable NFT can certify your attendance at the restaurant and subsequently get discounts or benefits every time you go to eat at the place.
One of the most important coffee chains in the world, Starbucks, will also launch its collection of NFTs. StarbucksStarbucks will also launch its collection of NFTs. It has not been officially confirmed how the acquisition of these NFTs will be, but as they are rewards to customers it can be through the daily purchase of products, i.e., by having more purchases you can become owner of the NFTs and get rewards and exclusive benefits.
There are many uses and ways to use NFTs in a marketing strategy, it’s not just about launching a collection and looking for the highest possible sales. NFTs in business mean exclusivity, segmentation of your most loyal audience and creation of communities around your service.
The creation of subscriptions through non-fungible tokens is a great idea to offer your community an exclusive and private space between the business or influencer that provides content and the most loyal users.The case of Dolce & Gabanna is a clear example, where different levels of NFTs were launched and each level unlocked a set of digital and physical experiences ranging from exclusive access to the metaverse, to invitations to events and Dolce & Gabbana clothing.
Revutothe Croatian financial services company, has also launched its collection of NFTs worldwide, which allows you to get lifetime subscriptions to Netflix and Spotify just by being the holder of a “Revolution NFT”. These can be used or traded to transfer the benefit to another person in order to avoid wasting subscriptions and keep the actual use of the NFT active on another product such as streaming services for both movies and music.
Another business method brought to NFTs is the issuance of tickets for concerts or sporting events. While this market is one of the most digitized industries helped by the pandemic.
By applying blockchain technology and NFTs as such, the elimination of resale and even counterfeit tickets can be achieved, as, NFTs offer a proof of authenticity, which store the data in a blockchain. The same mechanism can be applied by putting the tickets on a blockchain, which guarantees not only the authenticity of the ticket, but that the sale is by a legitimate organizer.
Conclusions:
NFTs will be increasingly integrated into cultural and social contexts through financial applications, business, branding, enterprise, marketing and campaigns. Not everything is implemented on the web3, but many services created on the web2 will have to take their digital infrastructure and offer NFTs to reconfigure their user niches and offer experiences and benefits to the new generation of people who no longer separate the digital world from the real world.
Social networks will play their part, Twitter and Instagram, the two largest social applications in the world, have already joined this boom and will surely improve a lot more as the months go by.
Now it only remains for brands and companies to look for the most effective ways to aggregate the technology and ecosystem of NFTs, understand how it works and also add different types of value to them so that the users who most consume the services or products offered by these brands make these customers feel the need to share both online and offline to obtain their non-fungible tokens.
Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.