NFT Marketing: the new way to market products and engage the audience

A three-letter word has been shaking the world, especially the business world. It is NFT, an emerging technology based on blockchain – similar to cryptocurrency – that has begun to launch itself in the sectors of e-commerce, entertainment, fashion, furniture, games, and sports. In the arts, by the way, it has been moving millions.

Can you imagine, for example, selling a digital work for $69 million? The launching of a sneaker for US$ 12, to be used only in the digital universe? Or even a Brazilian brand of sandals entering this world?

Neymar’s NFTs

The star of the Brazilian National Team and Paris Saint Germain, Neymar Junior, is at the top of the ranking of celebrities betting on the NFT market.

Neymar is one of the supporters of “EVE NFT“, an initiative that aims to promote the inclusion of women in the universe of NFT solutions and projects. Earlier this year, the player had already acquired two NFTs, for more than 7 million reais, from the Bored Ape Yatch Club collection, one of the most valuable digital assets on the internet.

Of course there are those who are suspicious of all the fuss created around this technology, but there are also those who see this strategy as inevitable, due to the enormous potential for innovation. The fact is that NFT applications are being experimented and discussed, and there is one sector where its presence is guaranteed: marketing.

Companies from various segments have been betting on this novelty. After all, NFTs bring new possibilities for marketing strategies, especially regarding the ownership of digital products, their distribution, and the management of access to these assets. That’s why professionals and companies need to be aware of this movement and stay on top of everything about NFT Marketing. Check it out below!

First, what is NFT?

NFT stands for Non-Fungible Token. It is a digital asset (token) that cannot be touched (intangible) and replaced (non-fungible), thus ensuring the identity and ownership of an item. It is created within a blockchain system, a kind of shared and immutable ledger, in which cryptocurrency transactions are also recorded. It can also be individually equipped with a unique proof of ownership that is secure and decentralized.

As one of the big problems in digital is the impossibility of tracing the origin of a file and consequently assigning a value to this item, NFTs become useful, important, and valuable, because the materials traded can be copied, but it is possible to prove who is the creator of the original version. In other words, with an increasingly digital society, where copies are easily created and reproduced, NFT allows for the scarcity needed to create value.

And, as already mentioned, non-fungible tokens go beyond auctions of art or items. They are becoming affordable items, either as branded collectibles or as products with real-world applications.

The curious thing is that these intangible, non-fungible assets can be traded for real currency values. For this to happen with assets of this nature, it is necessary to tell a great story. And who is an expert in telling stories to the market? Marketing.

What does NFT Marketing mean?

NFT Marketing, therefore, is to use NFT applications in business, services, campaigns, and relationship actions. It is a new way to advertise and sell digital products in an already booming market.

In addition to the huge transactions already mentioned and the success of NFT collectibles, large service companies, digital marketing platforms, and bank and brokerage applications are increasingly investing in gamification approaches that can also be exploited with NFT. And this could be the beginning of a new era in the digital product market, with the potential to innovate even further.

As if the commercialization of non-fungible tokens were not enough, there is also the phenomenon of metaverses, which could make the possibilities of this technology truly endless. These increasingly popular virtual environments can become major marketing and sales channels.

And how important is NFT Marketing?

Considering all that has been presented so far, it is easier to understand that technology contributes to the market as a whole, opening a new range of possibilities for dissemination and consumption.

Companies can now count on a new way to get closer to their clients, who have a larger universe of experiences to explore and live, going far beyond what the internet has offered so far.

It is still a new market, and the use of NFTs tends to increase as new experiences are created around them, including social networks, virtual markets, and even games.

How can NFT Marketing help your company?

In the context of digital marketing, NFT is an opportunity for a brand to connect directly with its fans. The property is able to establish a closer relationship between consumer and brand, customer and company. This allows your items or products to be marketed, without the need for intermediaries. Want an example? Selling music without the need for streaming platforms.

NFTs can be anything digital: JPEG, GIF, 3D animation, VR, among so many examples. Conclusion: your brand is no longer restricted to offering physical products or services, but can sell virtual items.

NFTs also eliminate shipping expenses, product defect fees, and storage or inventory costs. Depending on your goals, it may be the most appropriate and assertive solution. After all, luxury brands are not driven by sales of physical products, but by sales of the brands themselves. Why, then, not sell them virtually?

It is well worth analyzing and identifying what your brand has to gain by being a pioneer in this trend.

Take advantage and also check out other trends covered here on digital marketing.

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