How to Use NFTs for Business Marketing

We are living in a digital era. Everything that once existed physically has now moved into digital space – digitization unfolding! This means that for businesses to survive in this competitive landscape, digital marketing is …

How to Use NFTs for Business Marketing

We are living in a digital era. Everything that once existed physically has now moved into digital space – digitization unfolding!

This means that for businesses to survive in this competitive landscape, digital marketing is of utmost importance.

Without marketing in the digital sphere businesses won’t pull through. They won’t be able to reach your customers who now spend most of their time online.

If you’re not online, you’re offline for your customers. Staying abreast of whatever is happening online is important for your business growth.

This brings us to NFTs. So how do NFTs fit in here?

NFTs exist online – they are minted, generated, and traded online – which makes them a perfect ingredient for digital marketing.

So if you are running a business and renewing your marketing plan, including NFTs as part of your digital marketing strategy is a gift you can give to your business.

Let’s discuss how you can do that.

What is NFT?

First things first: let’s clear our concept on the NFT first.

NFT stands for non-fungible tokens. These are unique digital assets that cannot be replaced, hence non-fungible.

They are used to prove and authenticate your ownership of any digital asset like art, collectibles, gifs, etc. With our world getting more and more digital, it is important to have something of this sort to prove what’s really yours.

Scammers are on the lookout for counterfeit and defraud buyers into selling someone else’s property.

This is where NFTs come to the rescue.

It is an innovative technology that is stored on a blockchain network – can be stored in the same wallet as your cryptocurrency – and each of your NFTs is totally distinct in nature.

Carl Runefelt is a global crypto leader who has invested in more than 360 blockchain-based startups. He is a strong supporter of crypto and NFTs and firmly believes that these technologies are the future of our emerging digital world.

While speaking on his YouTube channel, The Moon, he says, “When you see the new NFT collection coming out, you have to make sure that it is of high quality because anyone with a computer can create an NFT collection. You find the right collection either where the artist is the famous one because it gives it value.”

How to Make NFTs Part of Your Business Marketing

Since your business cannot survive anymore without digital marketing in this age, beating your competitors requires innovative marketing solutions. Employing NFTs is one of them.

Fundraising:
You can generate plenty of funds by buying and selling NFTs for higher profits. Do your research and buy an in-demand NFT and sell it off when its value rises. This is generally called flipping.

On purchasing crypto punk NFT, Carl said, “I really think that the crypto punk NFT is a good purchase which I bought for 1 million dollars. I am very certain that I can easily sell it for 1.5 million dollars if I put it out for sale and who knows, in five years, maybe it’s worth 20 million dollars.”

NFTs are also designed to run numerous programs to raise money for charities. For instance, in a recent charity auction, Ellen DeGeneres made an NFT and sold it to raise money for the World Central Kitchen.

In a nutshell, you can generate colossal capital for your business marketing through NFT trading.

Boosting brand awareness:

As discussed earlier, businesses increasingly rely on NFTs to represent a range of digital products like artwork, digital drawings, images, and other types of creatives.

NFTs gift you smart contracts that you can use to engage your target audience. Through this, you can boost brand awareness by making digital copies of your products or items and pitching them online as NFTs. You can even sell these NFTs to market your products.

Carl Runefelt explains, “NFTs are definitely speculative, but as you have seen, there is a lot of demand for them because they are scarce. There is always a new collection coming out all the time.”

Enhancing customer experience:

This is where you can stretch your creativity. You can chart out a marketing strategy where you can ask your customers to redeem exclusive goods for your company’s NFTs

Another interesting idea is, that you can allow NFTs to be unlocked at events, rendering luxury services to your customers. This can prove to be highly effective for creating new opportunities for data collection of your customers.

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