How Marketing Teams Can Utilize NFTs

NFTs are the newest phenomenon to hit the digital and financial markets. Most people see it as a quick way to utilize technology and make money. But creative minds are finding new ways to bend NFTs to their advantage.

For example, marketing teams have begun to play with the concept of NFTs and how they can be used. Those on the outside may have trouble understanding what NFTs and marketing could do with one another. Continue reading to find out.

What Are NFTs?

Before we dive into NFTs in marketing, it’s essential to understand what NFTs are. NFT stands for Non-Fungible Token. They’re essentially unique digital assets, which can be represented by data on a blockchain. In other words – they really are unique, as they cannot be altered or copied.

NFTs in Marketing

Admittedly, using NFTs in anything commercial is still relatively new. The NFT craze started with artists, as they could make unique tokens of their artwork as a way to earn additional funding. Now companies and industries are trying to find a way to do the same.

Brands were probably one of the first commercial investments into NFTs. Many major brands are already finding ways to utilize NFTs to support their image further. For example, they’re creating NFTs unique to the brand – images, icons, or even memes, depending on their niche and target audience.

Now, let’s look at how NFTs can be used in marketing. Every industry will ultimately have a different approach to the matter. For example, a video game studio could make unique skins through NFTs, while a musician could finally securely sell tickets.

Essentially anything that can be made one of a kind in a digital format can be turned into an NFT – and then sold for profit. Not only do NFTs turn a profit when used in this manner, but they can help up a company’s recognition. In other words, it can do the marketing for them. Take the above video game example. Players love having exclusive merch, as evidenced by how quickly preorders sell when they include exclusives. When provided with the opportunity to get a one-of-a-kind skin for their video game character, fans will jump at the chance. Now they have something connecting them to a beloved game, and it’s something that only they can have.

ABOUT AUSTIN ROTTER

For the past eleven years, Austin Rotter has been working in the public relations industry, building the knowledge, skills, expertise, and insight that have helped him propel his career to where it is today. Throughout his decade-plus career, Austin has worked with more clients than he can name, ranging from promising startups to Fortune 1000 brands to tech companies exhibiting hyper-growth. He has honed his industry knowledge, refining his skills and furthering his knowledge in order to provide his clients with the best possible solutions and strategies when it comes to managing their brands and public images.

As an entrepreneur, Austin Rotter knows how important it is to find a healthy work-life balance in order to maintain one’s mental health and avoid burnout. That’s why he always reserves time to spend with his family and those whom he loves. In his life in Hoboken, Austin lives with his beautiful family. He’s been married to his wonderful wife for more than four years, and together they are raising a dog and an amazing baby daughter in the home they share together. In order to build a better world for his daughter and a better community for those around him, Austin is also focused on personal growth and development, seeking areas in which he can improve on a personal level.