What Marketers Need to Know About NFTs

What Marketers Need to Know About NFTs

Marketing Strategy — Thu., Jun. 9, 2022

NFTs (non-fungible tokens) are digital items that have been authenticated on the blockchain. Though originally a niche interest, the rising prices of NFTs have spawned a community of creatives, collectors, and speculators. Digital-native generations, who grew up streaming and renting, are seeing a new level of genuine participation. Brands are also getting involved, seeing an opportunity to connect with a crypto-savvy audience.

Marketers should prioritize community-building, and consider how the customer journey can be extended or enhanced with NFTs. They should also look for experienced community-builders, and technology partners with NFT experience. Participation in NFT culture and pilot tests will help marketers better understand the space and create a strategy.

The cultural influence of NFTs is growing, and marketers should be paying attention. Some believe NFTs are the first step towards a hyper-digital future, and Meta is shifting its company strategy towards this vision. Savvy marketers should dive in to learn the ins and outs of NFTs to anticipate adoption.

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