The success of NFTs has brought about a new dimension of digital marketing that has allowed companies to skyrocket in popularity. Companies that would otherwise not have been popular were now suddenly trending on social media. And all of that was possible through NFTs.
As a business, you need to be at the forefront of all the innovations coming into the market. And with NFTs still a new phenomenon, you can get a head start by understanding it better.
We’ve talked to Success Financial LLC, one of the leading digital marketing agencies in Boise, ID, about NFTs and its impact in digital marketing. Here is how the team at Success Financial LLC thinks Non Fungible tokens will influence digital marketing.
How are they able to create so Much Hype?
One of the main reasons why NFTs are able to drum up so much attention is scarcity. In the digital world, people are able to copy almost everything down to the last letter. From video games and movies to ad campaigns and marketing strategies, nothing tends to stay original for too long.
However, through NFTs, companies are able to make things that are truly unique. Whether it is a marketing strategy or a digitalized product, NFTs prohibit any form of replication. And when there is scarcity for something, it instantly becomes more appealing for everyone around the world.
For example, RTFKT is a virtual sneaker manufacturing company based in China. They recently sold one of their virtual sneakers for $28,000 and another one for close to $8 million.
The product, scarcity, and ensuing price tag have all offered better marketing than any other marketing firm.
#NFTs & digital marketing are going more and more mainstream.
"I believe that, by 2025, NFTs will be a regular part of the corporate marketer’s toolkit. With these three tips, you can ensure that your branded #NFT project succeeds."
YEP! We agree!https://t.co/y6oERq4XL2
— Success Financial Team (@SuccessFiTeam) October 19, 2021
Does exclusivity always mean better sales?
In the case of NFTs, exclusivity will always be a defining characteristic of its success, even if it is something that people would not want in the first place. The sheer allure of owning something wholly unique is always enough to grab people’s attention.
But other than the product itself, the transaction is also something that will make people’s heads spin.
Will More Influencers Be Marketing Through NFTs?
While it is possible to become famous in the NFT market through bizarre offerings, it can still be very difficult. But I think an influencer coming out with unique content or merchandise through NFTs is an instant sell.
Furthermore, the ability to create new types of intellectual property means that every influencer will be rushing at the opportunity. I have already seen online creators sell merchandise that is unique to their brand. But with NFTs, they will be able to make different types of content, such as exclusive streams and interviews.
Some creators even have private discord servers for their NFT holders.
Will NFTs Empower Brands and Influencers to Work Together?
The experts at Success Financial LLC think that brands and influencers will always work together when producing NFTs, as one can offer something the other needs. The influencer needs a product that is scarce, and the company can produce it.
This era of collaborations will open a brand new revenue stream for both the creator and the company.
Will It Pose A Threat To Regular Forms Of Digital Marketing?
I feel like that is looking at the situation from the wrong end. NFTs are an evolution of digital marketing and will always rely on other means to propel its message further.
They are not very effective until someone is drumming up hype about the product on social media. So it is best to look at it as an extension to your marketing strategy rather than something exclusive.
Final Thoughts
NFTs are well on their way to becoming the most popular way that companies advertise their products. Nike and Taco Bell are just a few of the companies that have started to integrate NFTs into their respective strategies. So I wouldn’t be surprised with other brands doing the same.
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