As the world is taking blockchain technology at a rapid rate, the technology is becoming vital to entrepreneurs and brands. The Non-Fungible Token (NFT) industry has exploded thus presenting brands with an opportunity to use NFT technology to grow.
One of the ways you can use NFTs to grow your brand is by promoting brand awareness. It’s a no-brainer you need to create a memorable image for your target audience when introducing your brand to the market. And this is where NFTs come in. You can increase your brand’s recognition by creating a NFT unique for your brand.
Note that the NFT will be as unique as your brand. Celebrities like Grimes, Snoop Dogg, and John Cleese have already created their own NFTs to represent their brands. Doing so for your brand or business will see you increase your revenue, authenticity, and consumer trust.
“NFTs are a great way to build community and grow your brand,” said Lee Richter, CEO and founder of GotMinted.com, NFTsWithLee.com, and the Global Leaders Collective.
The Forbes Business Council member and multiple award-winning author recommended some ways any brand can boost its growth using NFTs.
Tokenizing Your Brand’s Content
It’s good to have a physical product for your brand, but don’t stop there, create tokenized versions of the product in the form of NFTs. Doing so will give more authenticity to your products’ quality while giving your audience a chance to have a digital experience of the products. By tokenizing your product, you enhance it by dematerializing it. All this work to promote your brand’s image.
Big brands like Pizza Hut have already started tokenizing their products. The company hit the headlines when it created digital pizza slices as limited edition NFTs. This quickly blew up among consumers. The most expensive share of the digital pizza slices is worth around $8,824 at auction.
Extending to a Digital Product Line
In addition to tokenizing your brand’s content, NFTs also give you the opportunity to extend your product line and reach a new audience. Having NFTs that represent your brand is a great way to raise the curiosity of your prospective audience. All this will lead to your brand generating revenue from the digital line of NFT products. And if you want to maximize your brand’s success with this, create NFT products that benefit and provide value to the consumer.
Marketing
Content marketing has become an integral part of marketing for brands in recent years. Using NFTs and NFT platforms you can create content for your brand, market it and monetize it yourself. This allows you to cut off the middleman from the process.
NFT marketing will allow you to take your brand’s personalized marketing to another level. Studies show that 80% of consumers are more likely to buy a product or service if the brand offers a personalized experience. And since each NFT is unique, you can make marketing so personalized that you interact with your audience at a one-on-one level.
Create NFT-Based Tickets
Blockchain tech used in creating NFTs makes it possible to create tickets that can’t be forged. You can take advantage of this by creating and selling NFT-based tickets whenever you’re doing brand conferences or hosting events to promote your brand. And due to their verifiable authenticity, people can buy the tickets in advance and resell them, which also rakes in more revenue from royalty.
Adopting NFTs in Your Business
You can create your brand’s NFT(s) and start reaping the benefits. You don’t even have to build the NFT from scratch or have the technical expertise to do so. There are a number of plug-n-play options you can look at to help you create a NFT(s) for your brand.
With NFTs, the new opportunities and possibilities for your brand are endless.
If you’re ready to get started with NFTs, visit gotminted.com to get help creating a crypto wallet and connecting your crypto wallet to OpenSea (the world’s most famous NFT marketplace.
