NFTs have become a new way to attract and generate customer loyalty through a creative digital product.
But also in a way of doing business in digital marketing, partly as a consequence of the impact generated by the pandemic.
Do you know what exactly NFTs are and why they are bought and sold?
In this article we are going to delve into the reality of NFTs and how marketing strategies can be created and developed to give them know and promote them.
What are NFTs
NFTs are presented as creative digital products, which are also unique.
The name responds to the acronym for Non-Fungible Token (from the English Non-Fungible Token) and are original digital assets, impossible to replicate and therefore unique, with a high value in the market.
Its originality and uniqueness are certified by a codification only.
Hence, they have become part of the marketing strategies of luxury brands, such as fashion, sports and automobiles.
Today already use brands such as McDonald’s, Pizza Hut, Reebok, NBA, Twitter, Tik Tok or
NFTs represent tangible or intangible objects, such as works of art, music, videos, animations, video games, digital cards or articles of the real world digitized.
The concepts of non-expendable property and tokens
It is important to understand the concept of non-expendable property that defines NFTs.
Our legal system differentiates between expendable and non-expendable property.
Fungible goods are those that have a value based on their number, weight or measure. And depending on these can be exchanged.
For example, him money: a 10 euro note is a fungible good, because it has been given a value and can be exchanged, does not lose value and depletes when used.
Non-expendable goods, on the other hand, are not substitutable and are not consumed.
when used, nor can they be replaced. They are non-expendable property. therefore, artistic expressions, like works of art: some do not are equivalent to others and cannot be interchanged.
Tokens are units of value that are assigned to a business model, like cryptocurrencies. In this field of cryptocurrencies, Bitcoins represent fungible goods.
How NFTs work
NFTs work on the same technology as cryptocurrencies, the so-called blockchain or block chain.
This is the use of a decentralized computer network, with blocks or linked and secured nodes thanks to the use of cryptography.
Each block links to a previous block, as well as a date and transaction data, and by design they are resistant to data modification.
NFTs are assigned a digital certificate of authenticity, with the relation of a list of metadata that will not be able to be modified.
This metadata collects information about its authenticity, the author, as well as its starting value, the record of the transactions carried out.
Therefore, an NFT will always have the information about its first value and the cost that it has entailed at each moment.
Most NFTs are based on the Ethereum network and its chain of blockchain.
This makes it easy to operate and make transactions through wallet platforms that are compatible with Ethereum.
NFTs in 2021:
Experts claim that NFTs have become in 2021 one of the most important crypto trends, with a growth of 55%.
Other studies estimate that almost 25% of the US population holds digital assets (NFTs, contracts, etc.) and crypto assets.
The number of users worldwide continues to grow. Also, they are used more and more to intermediate in the economy, and less to speculate.
We have already named its greatest characteristic, its uniqueness. So it is necessary for its creators to exploit all their creativity to achieve attract potential buyers with the idea that these will be the only ones owners of that specific digital product.
The value of originality to the product aimed at being an NTF also allows companies to explore new markets and execute of marketing strategies that, if well executed, will be profitable in the long run. term.
Another advantage of the NTF is that they are adaptable for companies of recent creation and those positioned in the market for several years. Entrepreneurial businesses can use NFTs to obtain new income through the monetization of content offered to the public as unique, while large companies can use them to follow
expanding and positioning itself in digital markets.
How NFTs are created
There are two options for creating them: make them using any of the graphic content creation tools; or entrusting the work to A professional.
Getting it one way or another will depend on creativity and skills and abilities. It must be a striking and original product, which arouse the interest of your niche market.
Once created, it is time to develop strategies for marketing to sell it.
How to develop marketing strategies to sell NFTs
Hardly anyone doubts anymore that this new trend in business has here to stay and the brands are going to enter this new revenue generation model.
Let’s look at, on a practical level, some marketing strategies you can used to put the NFTs into circulation.
The NFT is an original and unique product. As such, the best of marketing strategies to promote it will undoubtedly be storytelling, Tell his story.
It is a good technique to arouse interest, give value to that unique creation and make it go viral.
Include creation in a calendar
This is a free strategy that anyone can develop.
There are NFT calendars where creators can list their releases. Calendars help creators and buyers connect with each other in the easiest way.
They are tools that put creators in contact with potential investors. One of them is NFTdroops. It has the simplest design, without ads that distract. A place where people spend time browsing NFT events.
Other types of actions that are free. social media, and especially Twitter and Instagram are presented as ideal platforms for promotion of NFTs.
It will be necessary to develop a strategy of action on these platforms, that can go through creating content that adds value to users on creations, join communities in which to share products created, be in contact with other creators, make promotions and, above all, neverything, know your audience and their motivations.
This is a strategy more focused on recognition than on monetization, at least at first.
It’s about collaborating with creators from other fields and aligning brands can become a great project.
In addition to the mutual enrichment in the creative aspect, it is also the audiences of the different participating agents will be exchanged.
Enter thematic groups
Platforms like Telegram or Discord have thematic groups in which the NFT product can be shared.
If influencers in your niche become social proof of your products you will get a great impact in its promotion.
In this aspect it is important that they are people aligned with your product, your brand and, most importantly, your motivation and values.
Reach large media and specialized media
Distribute content about your NFT products and get them to be published in popular media and also in thematic or specialized media is a form of promotion that will require an investment, but will achieve great scope.
Share content on own media
Sharing content on your own media, such as your website or blog, is essential to reach the target audience and also to achieve a good position in Google and other search engines.
To get Google to notice your content, you must investigate about the keywords to use.
How will NFTs evolve with the Metaverse?
The Metaverse or virtual world will mean that users will be able to navigate through scenarios that will represent reality or new imaginary worlds, thanks to the use of devices.
Similar to what we can experience today with video games, in which we can create avatars and be part of the games, the Metaverse that are creating the giants like Facebook or Google, it will assume real functions, not
it will only focus on fantasy worlds. Thus, virtual reality will become become part of our real life, in our personal relationships and professionals and business.
Companies will be able to create spaces in the Metaverse where users We will enter virtually to interact and acquire products.
And this is where NFTs will be integrated as exclusive products and will become, even more, a way of monetization.
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