Monday, April 15, 2024

101 on how NFTs serve the purpose of marketing

Promoting through the digital asset trading platform

Marketing in NFTs has blown up in their use-cases that they now warrant special attention from brands and businesses – focusing their dedicated resources and management to conquer the field. The inspiration behind marketing NFTs came in with their rise in popularity. The amount of engagement projected from their revenue generation aspects was optimized into another use scenario – to build awareness and establish exposure about the desired brand or project.

Why NFTs for marketing work

Many factors come into play while curating an NFT based project for a brand or business. The biggest being relevance and exposure. The scope of NFTs is global, and it is also a buzzword that perks up the interests of people. The immediate response to new projects being launched has everyone checking them out at the least. This creates familiarity and trust for the brand through the project by proxy.

Conglomerates like the fashion industry, merchandising, film & television, ticketing – auditoriums. Concert halls, VIP events, and stadiums. All these industries, through their subsidiaries, are taking full advantage of the system. NFTs are also timely in their relevance – to suit the modern world of investors and art collectors. Their utility has long transcended the mere realm of binary existence, with the introduction of blockchain and web3 applications and their housing of a variety of advanced technologies within the platform like decentralization, DeFi, intelligent web applications, consortium blockchain, etc. It is the breeding ground for further infiltration in the NFT sector for marketing.

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How can NFTs be put to work as a part of marketing campaigns?

The ups and downs of NFTs for marketing vary depending on the kind of project and the endorsements attached to it. Fashion houses like RTFKT, Louis Vuitton, Dolce & Gabbana – and apparel brands like Nike have resorted to NFTs for more exposure. These houses have integrated the metaverse/gaming elements – avatars, clothes as augmented projections & digital art, and physical utilities in the marketplace for NFTs ‘now’ provide. Merchandising, as a part of the campaign, and The same goes for the ticketing industries from various sectors that rely on selling tickets. The new and exciting way of purchasing tickets in the form of ‘irrefutable ownership’ of the assets through the NFTs is the appeal to which the ticketing sector is bound to operate.

How to market an NFT project to success?

The flipside of the marketing strategies that work for the big and established companies can be implemented by an average individual with a few key insights into the tried and tested model of marketing NFTs. Strategies include a variety of ways individuals with their own NFT project in their hand could do before launch and after.

●   Choosing the right marketplace

The choice of the right marketplace to launch your project can be the make-it-or-break-it difference. There are dedicated NFT no-code launchpads available to the developer if they so choose to launch a customized marketplace of their own, or they can opt for a public marketplace with just paying the gas fee or a percentage of the sales to the marketplace that hosts your NFTs.

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●  Social media

These digital asset trading platforms also come with marketing campaigns – paid and free to push out exposure. Social media, newsletters, and any online presence will be beneficial for the longevity and engagement of the project. Creating discord, newsletters, and customer care for any financial queries and details about the project. Exposing and expanding the online presence through the integration of Instagram, Twitter, and other similar platforms. Engaging followers with updates and details about the drop and the project helps usher the target audiences to sign up and join the waitlist to buy your product.

●  Rewards and ticketing

Reward systems in NFT are really popular ways to help market the project. Systems like airdrops, giveaways, and even the rewards down the roadmap help people get excited about the project and pique their interest to get more involved with the platform. Services like ticketing can also be implemented as – either token for attending virtual events – or can transcend to the NFTs’ tangible usage of authenticating digital entry passes for physical events.

Content creation

Creating buzz through every possible media exposure is an ideal practice for selling a product. Teasers, videos, and endorsements from celebrities, influencers, and other famous personalities are always a foolproof way to secure attention. Writing about the updates and what the project entails on third-party websites where your target audience sits & PR for the same namesake. And making anticipation through a little sneak-peaks from the project helps greatly.

Wrapping up the diverse arena of marketing NFTs

The digital art trading platform is a work of art in itself because of the million revenue and advanced idea implementation platform it provides under very little time. Marketing in NFTs has never been easier than it is now. Start playing and engaging more with the marketplace for NFTs to figure out more tricks it has hidden up their sleeve.

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