NFTs for Marketing: Are They Worth the Hype?

[kvonloesecke]

Conversations and headlines surrounding NFTs have increased significantly in the past few years. Brands and marketers are taking notice of this technology. We explore the world of NFTs in this blog post.

What exactly is an NFT? 

Without getting into a deep dive into the technology behind NFTs, an NFT or a non-fungible token is a unique digital asset that can't be replaced. We can compare an NFT to a trading card, if you swap it with a friend, you'll get a completely different trading card. 

NFTs can be anything from artwork to music, to collectibles and videos. An NFT can even represent a non-tangible item, such as a video, image, or music. Even a Tweet can be considered an NFT!

How Can Social Media Marketers Use NFTs?

NFTs are disrupting the current marketing environment. They challenge marketers to find creative ways to incentivize their audience to engage. A social media marketer can use NFTs to build buzz around their brand by selling digital artwork or offering exclusive content to their audience who buys NFTs. 

Are They Worth The Hype?

Pro(+) - "39% of those who use NFTs say they have the best ROI of any channel in their media mix."

Con(-) - Minting and NFTs have a huge environmental impact. They can emit large amounts of greenhouse gases.

We would love to hear your thoughts on NFTs and their role in social media. 

Would you use NFTs in your social media marketing strategy?

Do you think that NFTs are just a trend or will they change marketing as we know it forever?

[TTshering]

I would use social media to market my NFTs.

[kvonloesecke]

Thanks for sharing, @TTshering!

Which social media network would market your NFTs on first? 

[TTshering]

Twitter

[ellaeyos]

Thank You for sharing kvonloesecke!

Definitely. I consider myself to be one of these NFT enthusiasts. Social Media is a vast venue for spreading information about NFTs.

NFTs are items that are individually certified, verifiable, and non-interchangeable. Possessing a unique identifier and data, they are one-of-a-kind structures with typically a single owner at any given time.

NFTs are actually now becoming a trend because of some social media influencers, as well as a certain well known brand. They have already begun to hop on this trend. 
In addition, NFTs can improve a brand's reputation, promote a product launch or company event, or serve as a form of client appreciation in the form of a unique customized gift or coupon. 

[kvonloesecke]

You're very welcome, @ellaeyos! Thank you for your input on how they can be used! 

Do you have a brilliant example of an influencer or brand marketing an NFT that you would like to share with us?

[TTshering]

@PB2Kuwaiti