NFTs have grown in popularity in recent months. They have become a way to explore, engage, and value interests and experiences people already love or help them discover new ones.
Nonfungible tokens are pieces of data stored on a blockchain. They can be linked to anything—from digital art, videos, music, and more.NTFS is simply a method of proving ownership of whatever it is linked to (such as music or an art piece) by encoding it to your digital wallet.
But why can NFTs be important for your brand? NFTs provide authenticated ownership and access in the brand experience space. This can be linked to virtually any experience.
NFTs are great for brand experiences or events. Rather than collecting the attendees’ information, tracking unverifiable lists, and matching people with specific experiences, when using NFTs, they serve as both the ID and the access pass. This is because they are unique and publicly verifiable, so you could create 1,000 brand-specific NFTs, link each to their own benefits and rewards, distribute them, and rely on them as guaranteed verification when they’re redeemed.
Here are some things you can do when using NFTs-backed tickets:
- Guaranteed ownership.
- Track the secondary market: If tickets are resold on third-party sites, there’s a public log saved as blockchain data.
- Protect holder’s privacy: This is possible because NFTs are associated with the user’s wallet address, not their personal data.
- No possibility of counterfeit.
- Remove exchange barriers.
Furthermore, branded NFTs help create or grow an exclusive community. For a person who owns an NFT created by your brand, the ID and linked access provide them with proof that they belong to a community of enthusiasts. (Thegamedial.com) This membership can be displayed by their owners, enabling members to find each other and communicate with each other or directly with the brand.
The digital world is an ever-growing environment where brands are constantly entering and adjusting. NFTs are only a part of what brands can be doing online. But it is imperative to have a social media strategy first and start growing from that. And Miss Ink is here to help you start or grow your social media game.
Miss Ink offers an array of digital marketing services from basic social media management to content marketing campaigns and more. Contact us today to get started.
Resource: MAS (2022), How NFTs Can Elevate Brand Experiences.
