NFTs or Non-fungible Tokens are a common component of web3 marketing. In the year 2022, a good web3 marketing agency will definitely offer NFT marketing strategies.
14% of media planners presently use non-fungible tokens, according to Hubspot Blog Research. This means that web3 marketing has already taken the audience by storm, and will undoubtedly, continue to grow.
In the past year, discussions around NFTs and Web3 have intensified, and they continue to gain traction in the web3 marketing industry. NFTs are linked to web3 technology. They present viewers with a newer and more private web space. Consumers are expecting more of this kind of openness from brands, and NFTs give businesses a method to deliver on that desire. Thus, privacy has become a web3 marketing strategy.
NFTs also give businesses an opportunity to contact consumers in a more intimate and dynamic way. Brands may gain collectors for their goods and services by providing digital assets that can be collected, exchanged, and sold.
The term “non-fungible token,” or NFT, is popular everywhere. Let’s dissect the phrase to clarify what NFTs are in detail:
Fungible refers to something that can be traded without affecting its intrinsic value. In this case, fungible terms are used to exchange mutually interchangeable items for an additional identical item. This explains the definition of “non-fungible,” as the items cannot be exchanged since the value they provide is different. Just like how Vincent van Gogh’s “Sunflowers” cannot take the place of Claude Monet’s “Water Lilies,”. While they are both paintings, they are each distinct pieces of art that cannot be replaced by the other. NFTs are hence non-fungible, or digital assets that can only be sold and acquired rather than traded. Their distinct ability is what makes them an indispensable web3 marketing strategy.
Tokens are essential to web3 marketing because a token is an indicator of anything in its literal sense. The token denotes “ownership” of odd NFT objects in relation to NFTs. Numerous NFTs can be tokenized at once, but each NFT can only have one owner.
Tokens can also be used as virtual money. The token designates a particular kind of virtual money, just as Bitcoin, Litecoin, and other digital currencies.
Additionally, the ownership record of an NFT is shielded by the Ethereum blockchain against unauthorized alterations and the copying and pasting of another NFT item.
When the phrase “non-fungible token” is combined, the result is an untransferable, one-of-a-kind object that is secured by the Ethereum blockchain. An NFT only has one owner at a time and cannot be replicated. This sense of originality intrigues the consumers. Their demand has created a web3 marketing niche called “web3 marketing agency”.
1. To create brand Identity
NFTs provide a mechanism for you to safeguard the uniqueness of your business and foster consumer loyalty. You may build a following of fans and collectors for your goods and services by providing digital assets with desirable utilities that can be collected, exchanged, and sold.
Traditional marketing strategies have had difficulty achieving this level of involvement, which has the potential to convert consumers into active, lifelong followers. An NFT marketing agency, however, would know how to leverage NFT technology in order to attain desirable brand loyalty.
2. Creating a community
You may create a vibrant community around your businesses with NFTs. You can improve the involvement and dedication of the collector by giving them a say in future company events, merchandise, services, and more. This creates a “customer experience.”
You may build a company that is based on openness, client loyalty, and a vibrant community by utilizing the power of NFTs.
Your web3 marketing agency may build a following of fans and collectors for your goods and services by providing digital assets that can be collected, exchanged, and sold.
This kind of interaction has the ability to transform clients into ardent supporters, which is something that conventional marketing strategies have had difficulty doing.
3. Take Charge of Your Supply Chain
Your supply chain may be managed and tracked with NFTs. You can make sure that your supply chain is effective and transparent by keeping information about your goods and services on a blockchain.
One of the best markets for NFTs is the world of contemporary gaming. This is because of the intricate visuals and skins/outfits that popular games like Fortnight employ for their avatars. This implies that your NFT marketing agency or a web3 marketing agency may produce and market NFTs in virtual items used in video games, such as pets and skins for avatars. Gamers are also likely to invest in these NFTs because games like Fortnight let players use cryptocurrencies to purchase virtual goods like this clothing. In order to take things a step further, you may even develop an NFT-based business plan and promote your NFT within the game. NFTs are increasingly widely used, and the gaming sector is in a special position to take advantage of these digital assets and profit from the frenzy.
According to web3 marketing agencies, the gaming firm Mythical Games received $75 million to develop a platform that substitutes NFTs for avatars and enables users to buy, sell, and trade NFT characters.
Gaming and NFTs go together. Additionally, the gaming sector makes use of NFTs to build and maintain a devoted user base in addition to marketing its games and goods.
There has been a significant change in how consumers “pay” for items in recent years. For instance, you may now use a bitcoin NFT to purchase tickets to your preferred sporting event or concert.
NFTs will act as virtual tickets for all events, including seminars, trade exhibitions, expos, and more. Not to mention the intriguing information the NFT will display, which will make it one of the top digital products to draw viewers. Additionally, you may create an NFT for a sporting or musical event, drawing long lines of ardent supporters.
For instance, Mark Cuban, owner of the Dallas Mavericks, believes that NFTs provide significant prospects and wants to become involved:
“We’re trying to find a good option for turning our tickets into NFTs. We want to be able to find ways so that, not only can our consumers, our fans, buy tickets and resell them, but we continue to make royalty money on them.”
Although it may not initially seem like the fashion industry and NFTs can be integrated. However, an NFT marketing agency may utilize fashion to promote NFTs just like designers promote couture pieces.
The reason for this is that the fashion and web3 marketing sector is ready to capitalize on NFTs’ success in the gaming sector. You may, for instance, design your own digital NFT apparel that consumers can purchase for their virtual avatars in the metaverse using digital platforms like The Fabricant Studio.
Additionally, major fashion labels are participating in NFT. For instance, Gucci and Christie’s collaborated to design an NFT that fetched $25,000 at auction.
Burberry and game developer Mythical Games collaborated to produce their own NFT dubbed Shark Blanco, which can be bought and traded in-game.
The NFT industry is evolving all the time. In order to adapt to the rapidly changing environment and produce ideal results, brands must utilise an NFT marketing agency. The most recent NFT market trend is well-known to web3 marketing agencies. They consistently provide fresh viewpoints and effective solutions while riding the excitement. A web3 marketing agency may offer a custom-tailored plan to ensure that you have a large and precise audience reach among your target market, depending on your NFT marketing purpose, whether it is to increase brand recognition or drive sales. An efficient NFT marketing agency requires a wide range of abilities and knowledge. Working with a web3 marketing agency gives you access to a team of NFT marketing professionals that are knowledgeable in using various NFTs.
Last but not least, credibility is the most crucial requirement for any NFT marketing agency, yet is commonly disregarded. There are NFT scams. Around 80% of the NFTs created using OpenSea’s free creation tool have been determined to be fake, the company reported in February. They are performing an NFT community or background check to prevent a rug pull. Due to this, reputable digital marketing companies are available to allay any fears that your NFT idea is a scam.
A web3 marketing agency will use NFT influencer marketing in addition to keeping an active community to increase the authenticity and credibility of your product. Influencers in the NFT industry are often active participants with a reputation for being knowledgeable. Your NFT is primarily aimed at their strong following of tech-savvy and cryptocurrency aficionados. NFT influencers are also trusted and have a certain amount of power, which helps them promote NFT adoption among the general public and vouch for NFT data collecting.
Rezaid’s expert team is highly regarded for its excellence in providing performance-driven services to businesses across the world and global corporates targeting NFT markets. The team has extensive experience in web3 marketing, having served many clients across web3 industries like e-commerce, finance, gaming, travel, retail, beauty, FMCG, education, health products, etc. Visit our website to find out more about Rezaid and the work we’ve done.