Comprehensive Guide to NFTs for Marketers - Deepstash
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What Are NFTs?

What Are NFTs?

NFT stands for non-fungible tokens. They are digital assets that can be bought and sold, just like any other piece of property. Each NFT is “tokenized” which means it has a digital certificate of ownership that makes it unique. That ownership token is stored in a digital ledger, called the blockchain.

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How Can Marketers Use NFTs

NFTs aren’t just taking over the art world. Plenty of big brands are using this technology to drive their marketing strategies. Here’s six ways brands are using NFTs to drive brand awareness and profits.

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Build Brand Awareness: Marriott

Looking to take your brand awareness campaigns into the metaverse? NFTs can help brands expand awareness.

Marriott is leveraging NFTs through its Marriott Bonvoy travel program. The brand partnered with three artists to create three different NFTs based on travel experiences.

The NFTs were unveiled at an event during Art Basel, a premier modern art show. A drawing was held to raffle the NFTs off. Winners got their own NFT, along with 200,000 Bonvoy points.

The event helped increase brand awareness by leveraging NFTs and built excitement around the brand and the experiences offered by Bonvoy.

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Expand Audience Reach: Bicycle Cards

Looking to expand your audience and reach new markets? Facebook lookalike audiences aren’t your only option.

Bicycle, one of the oldest card-making companies. Founded in the 1800s, the brand has been a staple in the card printing industry for more than a century.

Bicycle wants to reach a younger audience, many of whom are interested in new technology like NFTs.

They recently announced their first-ever NFT collection. In addition to purchasing NFTs designed by artist Adrian Valenzuela, owners will also gain access to exclusive events, presales, & access to a physical deck of NFTs.

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Protect Brand Image: Robert Mondavi Winery

While smaller brands don’t have to worry much about knockoffs, legacy brands are leaning into NFTs as a way to protect their brand image.

Robert Mondavi Winery has also jumped on the NFT bandwagon, but is leveraging it in a whole new way. Rather than using it to expand their audience or build their brand, this well-established brand uses NFTs to protect their wine’s providence.

Worried about the growing marketing of knock off vintages, they partnered with artist Clay Heaton to create a collection of wines featuring porcelain bottles and NFTs to authenticate the wine.

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Support a Good Cause: Kinetic Sand

Consumers want to support companies that give back. In fact, 84 percent of millennials say they prefer to support brands that are transparent with values and a culture they can trust. They don’t want promises, they want action.

Kinetic Sand, a popular brand of squeezable, moldable sand, is using NFTs to raise money for the Boys & Girls Clubs of America (BGCA), to expand their arts and creative experiences programs.

The NFT collection was created in collaboration with artist Dan Lam.

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Promote In-Person Events: AMC/Spider-Man

Are you looking to promote in-person events? Take a page from AMC & consider offering NFTs to the first few attendees.

When tickets for the new movie went on sale, they offered the first 86,000 AMC investors who bought or reserved a ticket the opportunity to receive a free NFT. If users purchased a ticket and did not attend the movie, they would no longer be eligible to receive an NFT.

So not only did users have to be a member of the AMC rewards program, but they also had to actually show up to the theater in person to watch the movie.

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Drive Pre-Orders: Gary Vaynerchuk

Gary Vaynerchuk is well known for his infatuation with NFTs. He loves them so much, he decided to use them to promote his newest book, titled Twelve & a Half.

It’s worth noting this isn’t his 1st book—there is a good chance the book would have sold well even without the NFTs. Regardless, the book quickly racked up more than a million pre-orders in the first day—which is no small feat.

Here’s how it worked: for every 12 copies buyers purchased in a 24-hour period, they’d earn 1 NFT. Based on the results, the NFTs definitely made some waves.

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CURATED BY

phaedrus

Digital Marketer Welcome to my Deepstash where I share ideas I find most valuable for those who wish learn more about digital marketing!

CURATOR'S NOTE

You’ve likely heard of NFTs already. But did you know they can be used in marketing?NFTs are taking the art and technology world by storm. What, exactly, are NFTs and why should marketers care? Here’s what marketers need to know about NTFs, including how you can leverage them to grow your business.

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