NFTs in the Marketing Industry

Are you considering utilizing NFTs to distinguish your company? Interested in learning more about NFT examples that support marketing?

You’ll learn how NFTs can enhance the consumer interactions with your business in this post.

How NFTs Enhance Customer Loyalty and Relationships with Customers

The dialogue between companies and customers has changed over time.

Up until recently, advertising was a one-way process in which companies broadcast to their audience via billboards and television commercials. Now it employs a two-way strategy where both consumers and businesses use social media to start a conversation.

By enabling customers to voice their opinions and cast votes for upcoming brand-related events, new product lines, and potential future services, digital assets like a non-fungible token (NFT) enable a further evolution of that connection. This makes it possible for businesses of all sizes, including tiny businesses, to use loyalty NFTs to fully align incentives with consumer preferences at scale—something that wasn’t previously conceivable.

All of this is made possible by the transparency built into Web3 technology, including NFTs and the blockchain. Now, companies like Ledger can create their brands and communities over a solid foundation of customer loyalty using NFT technology.

To safely store your NFTs and other tokens, Ledger, a Web3 startup and industry pioneer in NFT security, supplies hardware security devices (also known as cold wallets). The cost of the Ledger cold wallet ranges from $50 to $150 in shops and online.

Ledger has introduced Ledger Market, an NFT marketplace, in order to sell a constrained number of Ledger Genesis NFTs.

The price range for these tokens ranged from.3 ETH (or about $400 USD) to.569 ETH (or roughly 800 USD), and everybody who bought one would also get a brand-new black Ledger cold wallet.

Even though they knew they could just buy the hardware wallet separately, consumers chose to buy the Ledger Genesis NFTs for the hardware wallet due to a combination of brand integrity and consumer advocacy.

What are the advantages for customers?

In addition to getting a hardware wallet from a reputable company, Ledger Genesis NFT holders will also get any upcoming airdrops the company decides to provide them.

What is Ledger to gain from this?

Both the company and its customers benefit from the partnership.

Three Business Uses for NFTs

The deployment of technology based on Web3 is still in its infancy. Businesses must encourage this adoption by launching initiatives and experiences that use this new technology and are connected to their customers’ everyday life.

Businesses that begin implementing Web3-related experiences and marketing plans today will gain early customer and internal community trust.

1: Raise money for new projects using NFTs

Many companies are using NFTs in Kickstarter-style campaigns to seek money for business projects.

To collect money for the purchase of a beer brewery, MetaBrewSociety issued NFTs. Every NFT holder receives perks, such as a claim to a specific amount of canned beer from the brewery each year, as compensation for being an early adopter.

Each holder also has a say in how the brewery will run, what brewing techniques will be employed, how much beer will cost, and whether or not additional land purchases will be made.

The founder of MetaBrewSociety also aims to sell limited edition artwork based on collaborations with some of the various communities he’s a part of because he’s an ardent NFT collector in other projects, adding even more utility and value to the expanding community.

2: Transform NFT holders into brand ambassadors

As seen in the Ledger example, it is often in the NFT holders’ best interests to contribute to the preservation and expansion of the value of the community they have chosen to invest in.

To assist promote more interest and brand exposure, holders can accomplish this by acting as evangelists for the company and the NFT project.

NFT owners won’t begin disseminating information on their own, though. Most businesses have struggled for years with finding superfans who will openly support their brand.

Giving NFT owners something fascinating to talk about is the best way to turn them into true ambassadors.

For instance, the online learning platform InPeak is getting ready to introduce an NFT collection that will provide owners 3-year access to the platform.

NFT holders will have the option to network with speakers and industry experts at that period that they would not otherwise have access to. In addition, holders will be able to enter drawings for tickets to various events, such as going to a speaker’s private event with them.

3: Increase Brand Awareness using NFTs

The concept of communal ownership is one of the foundational principles of Web3 and NFTs in particular.

Frequently, when you buy an NFT, you also buy the token’s intellectual property, which includes the digital art.

Therefore, even though owning the NFT does not give you the right to use the founding brand’s name, you do have the right to utilize the NFT’s artwork to promote your own company and raise awareness of the NFT project.

A member of the Moonbird NFT community named Somi Arian animated the picture of her token. It frequently appears on her shoulder in her videos and postings on social media. Every time the animation appears, it not only raises awareness of Web3 and NFTs in general but also particularly supports the Moonbird NFT initiative.

Prior to beginning your first NFT project

Immersing yourself in the world of Web3 and NFTs and learning how things operate firsthand is the greatest way to get your brand or company ready to establish an NFT.

Start by participating in some of the open community discussions or studying from YouTube videos.

Reading or watching videos will only help you so much in terms of marketing and business. You must eventually take the risk and gain practical, hands-on experience.

Look for NFT initiatives that fit your starting budget or have a cheap entry cost.

Usually, these projects have Discord communities where you can visit and meet the creators, artists, and other forward-thinking individuals. Even without the networking benefits, your NFT is worth its cost in these communities.