As businesses and brands continue experimenting with new marketing forms, digital assets are becoming more integral to their overall strategy. These non-fungible tokens (NFTs) can transform how businesses communicate with their customers and make them feel special. Dr. Jordan Sudberg believes NFTs can benefit your brands in the following ways.
1. Tracking and Authentication
According to Sudberg, NFTs can create digital versions of products that are impossible to reproduce. This is especially beneficial to brands in the luxury or health space with a high value on authenticity. If you have a limited edition product that you want to track, you can use NFTs so that only one person in the entire world will own it. This goes for anything from diamond rings and collectibles to limited edition sneakers.
2. Identity & Security
You can use NFTs to create a digital profile attached to your physical assets. This is ideal for businesses that produce luxury goods and want to give their brand a face. NFTs can help identify products and help customers feel like they have something of value in their hands. It could also include anything from tracking the origin story of an item, where it came from, and how it got made.
You can make your brand feel more authentic by using NFTs as an identity and branding tool. You could have small digital versions of your logo or product available only on a certain platform or app. It can also create ways for consumers to learn about your company and educate themselves about your brand’s products or services.
4. Influencer Marketing
Influencer marketing has surged in popularity recently due to its ability to create valuable relationships with content creators and consumers. NFTs can be used in this process by having content creators or fans use a specific NFT only available on a certain platform. This way, it’s more of a reward for their hard work and will help create a deeper connection between the content creator and the brand.
5. Funds & Asset Management
As new cryptocurrency tokens get created daily, there’s a lot of confusion surrounding them. You could use NFTs to collect funds for future projects or applications and have them properly managed by your team. This allows you to better handle your finances and a more transparent process that can help you grow your brand.
6. Digital Engagement
Another way you could use NFTs is to create fun ways for the consumer to interact with your brand and engage with your content. For example, you could take a product and give it a digital avatar. This way, consumers can choose what features it’ll have or customize their character according to their needs or personality. You could also use NFTs to implement one-way communication through social media instead of having people constantly talk back to you.
NFTs have the potential to be an incredibly useful tool for brands, especially those that are looking to interact with their customers in new ways. They’re a unique form of digital asset that can provide a tangible connection and create a deeper level of engagement between your brand and customers. Dr. Jordan Sudberg advises brand owners to get ahead of NFTs before the next big thing comes along.