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The Yet-Underused Marketing Potential Of NFTs

The Yet-Underused Marketing Potential Of NFTs

What Businesses Can Market With NFTs Is Basically Endless

NFTs have many uses, some more run-of-the-mill, others sounding out of science fiction. One use somewhere in the middle is using NFTs to reward customers. To distinguish those most loyal to a company, brand, or group.

It’s the same idea as giving someone a punch card or tying their phone number to a rewards program. When someone purchases something, they also get an NFT. And what businesses can do from there is infinite.

They can have NFTs that offer discounts when someone has enough of them. They can have them work as trade-ins for free products. NFTs can be tickets to exclusive events or meetings. If a company’s about to launch a new product, an NFT can serve as the passkey to presale events. Imagine a new video game accessible a week or even a month early to those who bought the last release.

There are no more worries about forgeries or cheating for these offerings; the blockchain confirms the legitimacy of a token. Businesses can mint at scale without worrying about the distribution of printouts or game pieces. And because they have visual control, there are many opportunities to put branding, flashy visuals, or other markers to ingratiate customers. They want them to be repeat customers, and spectacle can help with that.

And finally, in that same vein, they’ll also get publicity for the act itself. NFTs are emerging. Seeing those three letters inspires curiosity. People will talk about it—if sometimes only to ask how it works. It’s an attention economy, after all. You may as well use it.

As I said at the top, NFTs sometimes seem like science fiction. But, as they become more commonplace and more prominent companies use them, their more mundane applications might help even the smallest companies.

By |2022-07-31T09:31:03-05:00July 31st, 2022|DFN COLUMNIST|0 Comments

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