4 Ways Brands Can Use NFTs in Marketing

The Web 3.0 movement is pushing to give customers more control through digital ownership.

Brands are adjusting their marketing to keep pace by offering non-fungible digital tokens (NFTs) to customers.

NFTs are stored via blockchain technology, which is defined by investopedia.com as a decentralized and distributed ledger that stores the record of ownership of digital assets. The information stored in the blockchain cannot be modified, deleted or modified.

The data is personal to each user through a digital wallet to store payment information and passwords.

“They provide ownership and access to customers,” said Brian Fanzo, digital futurist and host of the daily podcast NFT365, at the Ragan Communications social media conference held in September in Orlando, Florida. .

“Nobody else has the password,” he added. “It does not exist on any server or website. The wallet is mine, and the beauty is that no one can take it from me. I can determine what data or information is shared publicly or shared with those from a marketing and advertising perspective.

Here are some ideas for involving your organization in NFTs to strengthen your marketing and communications.

NFTs can prove the digital identity of ownership

Fanzo says NFTs can provide proof of ownership of passports, driver’s licenses and other personal items so customers can carry digital copies on their phone.

Additionally, NFTs can answer questions about online piracy by providing individuals and brands with proof of online ownership of products.

Fanzo said NFTs were used to provide digital proof of authentication to guard against fraudulent products.

NFTs can help companies track relationships

NFTs offer technology to track how people have interacted with a brand in the past, which can prove valuable to anyone.

“I can say that everyone who buys between now and before Thanksgiving will receive a special offer for December for those who hold an NFT,” he said. “No one can post discount codes and customers are allowed to share discounts with others. Companies can also offer replacement NFTs to those who share them.

Fanzo said this makes it easier for businesses to target loyal customers and offer them perks to share with others.

How brands reward brand loyalty

Fanzo said brands like Disney could help track who has visited the park multiple times or watched certain movies to help better market their products to interested people.

Starbucks currently offers a comprehensive NFT program called Odyssey Experience. Perks include in-store taste tests and a chance to win trips to their Costa Rican farm.

An NFT sneaker club allows fans to collaborate with brands on new shoe designs, Fanzo said.

How can NFTs help build community?

Fanzo said Web 3.0 could help answer these questions, suggesting professional groups can offer NFTs that show other members which ones are nearby.

“The future of business is community,” he said. “But the biggest thing we lack in community today – especially online – is a sense of belonging. How do we prove that we are part of an online community? »

Chris Pugh is an editor for PR Daily. Follow him on Twitter and LinkedIn. Send story ideas to [email protected]

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