This PSFK guide explores how tokenization will drive the future of brand-consumer interactions.
Summary
Over the past year, NFTs have evolved from a loosely understood facet of cryptocurrency to a standalone technology concept that brands continue to explore for the ability of these tokens to increase innovation, scale customer experiences, to facilitate new ideas and to reinvent the way we buy and sell. goods and services. Due to the ability to track usage and apply intelligent processes that respond to their ownership and usage, NFTs have grown dramatically in popularity as brands around the world experiment with token technology every day.
Presentation of the report
In this Marketing Innovation Report, PSFK researchers explore how brands and retailers can leverage NFT technology, tokens and ledgers for customer engagement and innovation in advertising and marketing. The analysis will be presented in three stages of maturity regarding the use of NFTs to deliver the marketing and advertising solutions of tomorrow:
- Part 1 dives into strategies for NOW where NFTs are currently being explored as valuable tokens
- Part 2 examines NEXT and the immediate future use of NFTs as an access token
- Part 3 considers the NEW and more distant future for NFTs as platforms for new ideas
Ultimately, readers should understand how NFT-related technology and strategies will power the future of any brand’s advertising, marketing, and engagement.
What you will learn in this report
- How Cryptocurrency is Adopted by Brands and Retailers
- Why NFTs Represent Digital Identities Beyond the Digital Wallet
- The way NFTs are used as collectibles provides proof of fandom
- Why Ledger Technology Makes Brand Authenticity and Corporate Transparency “Table Stakes”
- How NFTs are used for exclusivity for owners and mega-fans
- Why Loyalty Programs Will Get an Upgrade Using Tokens
- Why co-create the future of a creator economy
- How NFTs can be used as an effective means of fundraising
- Why token technology will ultimately lead to improved creator control and fairness
What’s in this report?
In this NFT technology report, researchers at PSFK iQ outline the ways retailers and brands can leverage NFTs as a gateway to deeper consumer experiences.
This report provides:
- 9 Strategies to Deliver a Deeper and Better Customer Experience with NFT Technology
- 27 best examples of how brands and retailers are using NFT technology to align with their consumers’ wants and expectations
- Case studies of Tom Brady, Coinbase, Difference, Snoop Dogg, Lamborghini and more.
- Market statistics and consumer insights on changing consumer mindset behaviors and expectations around NFT experiences
During the research for this article, original interviews were conducted with the following pioneers and their opinions can be found in this report:
- Melody Hildebrandt, EVP, Engineering and CISO at Fox
- Diane Richter, Marketing & Brand Manager at ConsenSys Mesh
- Valerie Vacante, Director of Strategy, Product Innovation at Merkle
- Louisa Saint-Pierre, Global Director, Art + Experiential, MA+ Group
- Izadora Yamamoto, Web3 strategist and meta-poet at izadorashin.xyz
- Justine Vilgrain, Co-founder of NFT Factory & Braw Haus
- Michael Litman, Senior Director Web3 & NFT, MediaMonks & Collector/Advisor
Who prepared this report?
This report was produced by the same research department at PSFK which, since 2004, has been providing trend-driven innovation advice to Apple, BMW, Facebook/Meta, Google, Microsoft, Samsung and volkswagen
Key topics
The value of crowdfunding has been proven in Web 2 and continues to grow with the increased adoption of NTFs. This ties back to the notion of community that is so inherent to the successful adoption of NFTs for brands and the consumers who engage with those brands. People want to feel part of a group, and the same goes for fundraising. Sending money into the ether doesn’t…
In the future, NFT owners will own more than unique digital assets. They will also be instrumental in product development, be instrumental in community discussions on Discord and brand circles such as DAOs, and use NFTs and the technology behind them in a variety of creative ways.
Fans have always collected rare and unique items, while enthusiasts collect unique merchandise and assets from brands, celebrities, sports memorabilia and more. Along with NFTs, the rise of collectibles designed for the digital age has increased the value of rare physical collectibles and created a new cohort of digital collectibles that invoke a cult following. Collectibles have taken on new meaning with the increased mix of physical and digital, like today…
Featured examples
ASICS Move To Earn Program Gamifies Fitness With Crypto Rewards
Developed in partnership with web3 lifestyle STEPthe Move to Earn initiative of Asics rewards Asics NFT owners with crypto for their step count.
FOX’s Blockchain Creative Labs Launches Web3-Powered Anime Series
Dan Harmonthe creator of hit shows rick and morty and Communityis producing an innovative anime series that will be hosted entirely on the blockchain, called Krapopolis.
Autograph’s exclusive NFTs connect sports legends and their fans
Count the NFLs Tom Brady as co-founder and co-president, AutographNFT’s platform creates bespoke digital collections and experiences featuring some of the world’s most legendary athletes and artists.
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