Develop digital collectibles and link NFTs to the brand and core product

New Ideas in MarketingEssential news for marketers, summarised by YouGov
March 01, 2022, 9:00 AM GMT+0

Non-fungible tokens (NFTs) can serve as a digital touchpoint between brands and customers, as they appear in digital worlds like the metaverse.

As more brands and large corporations launch new NFT collections, NFTs can potentially act as a doorway to traditional commerce. NFT can help marketers regain control of their digital consumer relationships by circumventing Web2's platform-centric marketing, despite the crypto buzz around the technology.

While digital collectibles, like Coca-Cola's digital apparel, are currently associated with NFTs, businesses must be prepared for the next phase of NFTs. Media companies can use NFTs to generate a new type of media assets and apparel companies can create digital replicas of their original clothing. For example, Ralph Lauren already sells branded digital clothes in virtual environments such as Zepeto.

Create digital collectibles, link NFT collections to the brand and product, and test new marketing strategies as Web3 evolves into a commercial technological infrastructure. Marketers can also use NFTs as digital identifiers for real-world products, events, and experiences. NFTs can authenticate products, while also transforming secondary markets for physical goods, and connect consumers’ real lives to virtual worlds.

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