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NFT: Brands and NFTs

The NFTs have undergone 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 also converted to a marketing tool by many well-known businesses and utilized for the advertisement of their brand. 

Why is this an obsession?

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. As the ownership can be further transferred, it is considered an investment by the collectors. 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 also released his NFT collection through Baron Davis Enterprises and Crypto.com.
  • Nike bought the company RTFKT (Creators of virtual sneakers and collectables). Apart from creating actual shoes, they are now up to creating abstract ones. These shoes are to be used in metaverses. 
  • The Coca-Cola Company also released its stunning NFTs that included a Coca-Cola Bubble Jacket, a Friendship Card, a Sound Visualizer and a Vintage Cooler.
  • The Warner Bros. too released their NFT featuring the Goon Squad. They launched a collection of limited-edition collectables starring the characters from the very famous movie; Space Jam: A New Legacy. 
  • The DC Universe had a treat for their fans and gave away NFTs as a perk of being a member of the DC family.
  • McDonald too grabbed this opportunity and released McRib as a non-fungible token.
  • Pringles issued 50 copies of CryptoCrisp, an animated GIF.

Future Possibilities

The advance of the digital world is getting more and more exciting 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.

 

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