NFTs EXPLAINED: WHAT THEY ARE AND THEIR USE IN DIGITAL MARKETING
Even if you don’t know what they are, it’s likely that you’ve at least heard the term “NFT” being mentioned online over the past year. “Non-Fungible Tokens,” as they’re called, are unique representations of items – either real or completely digital – that exist on blockchain systems like Ethereum.
These NFTs can come in many forms, such as photos, games, music, and just about anything else. They are also finding their way into digital marketing, and having an NFT marketing strategy is an emerging trend.
Many NFT co-founders are looking into using an SEO agency for NFT visibility on search. When marketing NFTs SEO could be your golden goose.
Due to their digital structure, every NFT is completely one of a kind, meaning they aren’t exchangeable with one another.
Think of it this way:
If two people each have a $100, they can trade with one another, and neither person loses any value – seeing as how each banknote is worth exactly the same amount.
However, an NFT is a bit different because each one is unique. This means none of them are the same value.
Trading NFTs is a bit like exchanging some baseball cards for someone else’s skateboard. This is where the “non-fungible” part of the name comes from, which means “non-interchangeable.”
When you start your NFT project, all of your NFTs will be unique and one of a kind.
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What gives an NFT value?
With how strange NFTs may seem, there are a few key things that give them value, such as:
1. Being Unique
If you have an NFT, then you have the only one like that. It is impossible to make the exact same one with identical codes or token numbers. This is constantly backed up and verified by the blockchain ecosystem NFTs are a part of.
Because of those previous qualities, each NFT is a scarce commodity. Any artist or creator generally only has, at most, a few NFTs. As such, it’s a safe assumption to make that if you happen to own one, you’re one of the only people to be in possession of such an item.
There aren’t very many ways to saturate the NFT market, so buying them with the goal to resell them, then holding onto them until their value goes up is a legitimate strategy. There are actually quite a few people today taking advantage of this and making a decent amount of money to live off of.
Because NFTs exist on the blockchain, they also carry with them the same properties of everything else on that blockchain. Mainly being: they are immutable; their metadata, images, names, or anything else related to it can never be changed, revised, or removed.
While it may sound a bit hokey and faddish, due to the fundamental technology, once a Non Fungible Token exists it will never not exist. The data will always be there because the blockchain is an eternal construct. It’s almost like buying a hunk of gold that can never be destroyed, disappear, or be stolen. It’s yours forever.
6. Can be Resold
However, just because you’ve got it forever doesn’t mean you can’t choose to resell it. And, because of their highly volatile nature, you can even make some ludicrous amounts of money doing so. Some have even sold for well over $20,000!
How can NFTs be used for digital marketing?
Telling the story of your brand and interacting with your customers are two of the biggest factors in growing any business.
And even before Non Fungible Tokens existed, there were many ways to accomplish those two things.
However, with NFTs continuing to become more and more relevant, they offer incredible new opportunities to give customers brand experiences like never before. You need to give this a try if you have not done so yet.
Of course, don’t give up whatever you’re already doing – especially if it’s working – in lieu of NFTs.
Instead, consider how including these trendy new concepts in your overall marketing strategy can help build hype around your products and services.
Look at Taco Bell’s recent campaign centered around 25 NFTs. It was a great NFT marketing strategy.
Their goal was to support their charity that helps young individuals advance their careers and education by selling these NFTs, and they all got snatched up in less than 30 minutes! As you can see, Non Fungible Tokens can create an insane buzz around your brand when done effectively.
NFT marketing strategies like this are great for building brand awareness.
We recommend creating a narrative about your NFT project. The narrative can exist on your website, social channels, and more.
You can then do SEO yourself or employ an SEO agency for your NFT project to gain more visibility of your project. We believe the best way to get your NFT marketing strategy off the ground is with SEO.
Here are some other examples of how brands have successfully incorporated NFTs into their marketing (you can create the same!):
- Advertisements being converted into NFTs, then sold to customers
- Up-and-coming products or services being supported by NFTs
- Social media competitions where engagement is rewarded via NFT prizes
There really is no limit to how you can use NFTs to further your brand and business. The only limit is your own creativity!
Speak with your colleagues about these concepts, and try to think of some innovative ways you can use them to interact with your audience and build a new NFT marketing solution for your business.
Increase Your Brand Awareness with Innovative Digital Marketing Solutions
First Page is Hong Kong’s leading digital marketing agency, and we are constantly devoted to creative new, and innovative marketing solutions.
We offer SEO solutions since we are an SEO agency for NFT projects and also produce white papers.
Make sure to contact us today so we can discuss how we can help you leverage new concepts to grow your business!
What else can you do to get your NFT off the ground?
Want to make more sales and profits from your NFT? Here are some useful marketing tactic blogs that can help:
- Perfect Your Email Marketing Strategy Now
- What Are The Top Ppc Ideas You Ought To Know?
- Social Media Strategies: Successful Ones You Can Learn From
- Helpful Content Tips: Get Noticed Before The Competition
- 6 Easy Digital Marketing Hacks To Increase Your Leads
Are you a busy entrepreneur in the NFT space? You may not have the time to run the marketing tactics you need to make money regularly. If this is the case, we encourage you to review some of our strategic marketing services to drive more revenues from your NFT project: