NFTs for Brands: Unlocking Value Beyond Collectibles
During recent years, NFTs (Non-Fungible Tokens) stepped out of the niche of being just another digital art collectible and transformed into the potent weapon of the brand. Previously, NFTs were the domain of artists and other crypto enthusiasts, but now its application has expanded to include leading companies creating one-of-a-kind digital experiences, leveraging customer engagement, and building brand loyalty. This evolution is a new frontline in digital marketing and brand strategy. In this blog, we examine the ways in which NFTs can work wonders when used as a marketing tool and why marketers should leverage NFT technology now. A closer look at What are NFTs and how do they work NFTs or Non-Fungible tokens are special digital records on a blockchain. Unlike regular cryptocurrencies like Bitcoin or Ethereum, every NFT is unique and it is not clear how users want to exchange it with other types of NFT. Most frequently they are linked with digital art, virtual goods, and collectibl...