NFTs can help brands create exclusive experiences and build communities

New Ideas in MarketingEssential news for marketers, summarised by YouGov
February 04, 2022, 3:13 PM GMT+0

Along with being transparent and instant, non-fungible tokens (NFTs) help brands create a digital proof of ownership, attendance and transference to different experiences.

Brands can use NFTs to reward their customers for a specific activity or action taken, such as interacting with the community. With limited edition and limited-time NFTs, businesses can give their customers secret codes during a brand session.

Customers can then use that code to mark their attendance at an individual session and access exclusive experiences in return. Most importantly, NFTs help brands build loyal communities. Marketers can start by collecting tokens from other creators and understanding the culture and communities around NFTs.

Such insights can then help brands support their community using NFTs. For instance, brands can offer NFTs to grant audiences access to a private community, services, products and programmes like coaching sessions.

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