The NFT industry is undergoing a massive growth from colored coins to marketing and branding tools. Started as a system of traceable transactions in the world of digital consumerism, it is now converted to a marketing tool by many well-known businesses and utilized for the advertisement of their brand.
The Most Trending Obsession, NFT!
NFTs are an excellent source for an artist to monetize their work. It not only acts as a marketing tool but also as an additional source of income. It is regarded as an investment by the collectors as the ownership can be transferred. Blockchain technology gives extreme security to NFTs to such an extent that they cannot be duplicated, wiped out without the consent of the owner or obliterated.
Some famous moves under the influence of NFT
- Former NBA superstar Baron Davis released his NFT collection through Baron Davis Enterprises and Crypto.com.
- Nike bought the company RTFKT (Creators of virtual sneakers and collectables). They have started creating abstract shoes that are to be sold in the Metaverse.
- The Coca-Cola Company released its stunning NFTs that included a Coca-Cola Bubble Jacket, a Friendship Card, a Sound Visualizer and a Vintage Cooler.
- The Warner Bros. released their NFT featuring the Goon Squad. A collection of limited-edition collectables starring the characters from the very famous movie; Space Jam: A New Legacy.
- The DC Universe gave away many NFTs as a perk of being a member of the DC family.
- McDonalds released McRib as a non-fungible token.
- Pringles issued 50 copies of CryptoCrisp, an animated GIF.
Future Possibilities
The advancement of the digital world is touching sky-high with every single day. What can be the next move? Have the companies’ logos up for an auction? As the chase now has been shifted from necessities to luxuries, who would not love to own, let’s say, Porsche’s logo? Different brands may use the metaverse to sell their products or create new products exclusively for the Virtual Reality space.
Conclusion
The features of a product should be similar to the features associated with an NFT. Find out how issuing an NFT fosters your business. Make sure that the NFT is relatable to your business and the collectors. NFTs provide a marvelous platform for marketing and branding. With time and effort, it can be put to several other uses as well.
