Top 6 Effective NFT Trends That Brands Are Using For Marketing
Brands raised awareness before the 1990s through commercial advertising and goods. In the 1990s and 2000s, as the internet expanded and changed, brands followed suit, developing advertisements initially for static web pages and subsequently for more interactive and powerful social media.
The virtues of decentralization, ownership, and authenticity have spawned a market for non-fungible coins as the internet continues to develop (NFTs). These distinctive digital assets are emerging as a new channel for businesses to communicate with their customers. Their validity and transaction history are documented and confirmed on a public blockchain.
As NFTs have drawn in investors worldwide, businesses have become interested in learning how they might participate in this rapidly expanding asset class. For businesses aiming to boost income, community involvement, and brand visibility, the emergence of NFTs offers options.
NFTs: A Developing Sector
No longer a novelty investment, NFTs. A market research and consultancy company called Market Decipher found that the market, estimated to be worth $232 million in 2020, had grown to $22 billion just one year later. According to the company, the NFT trends market will be worth more than $60 billion by 2031, being developed at a compound annual growth rate of over 19%.
Your competitors will undoubtedly continue to pay attention to a market that size as they look for business prospects. These brand communities’ ability to trade NFTs has been made easier by creating and supporting internet markets.
Six NFT Trends to Think About
It appears that there are no limitations on what can be sold as an NFT since the first one debuted in 2014—books, music, plane tickets, art, experiences, and even real estate. With its application, brands have been equally inventive, and new NFT strategy resources are constantly being created.
The six effective NFT trends that brands have used:
- Special benefits: Holders of NFTs get special access to brand offerings, including future NFT drops.
- Combining the physical and digital worlds: Even though the NFT is a digital representation of ownership on a public ledger, businesses have connected NFTs to limited-edition tangible goods and in-person marketing events. In 2022, the handbag brand Coach will let NFT owners claim a custom-made purse.
- Easy acquisition: By allowing the use of credit cards or fiat money, businesses lessen the entry hurdle for potential investors who haven’t set up crypto wallets.
- Access the metaverse here: Limited-edition NFTs have been produced by clothing and garment companies for customers to utilize in the 3D virtual world. For instance, Stephen Curry and Under Armour produced digital footwear that your metaverse persona can put on.
- Packaged NFTs: Investors may find packaged NFTs more tempting since they believe they are getting more value than they would from a single NFT. The box can include products from the real world.
- Games: Companies set goals for their consumers, such as collecting a set number of NFTs to be eligible for a reward.
Also, read –Top 6 NFT Blockchain that are famous in 2022
2 Companies that Used NFT Strategies and Succeeded
Frequently, brands will combine many of the tactics above. Here are three companies’ recent NFT trends integration strategies.
NFT Coca-Cola Loot Box
Coca-Cola developed a multimodal NFT with a virtual world twist on Coca-Cola merchandise inspired by friendship. Coca-Cola auctioned off a “loot box” NFT on July 30, 2021, a collection of four NFTs.
Coke – The Coca-Cola Friendship Loot Box NFT pic.twitter.com/C5D91afZ6U
— NFTs Alpha (@slije_) January 9, 2023
The winning offer was:
- A soda fountain’s sound card NFT of Coke leaking
- An NFT token that gives its owner access to exclusive benefits
- An NFT that lets the owner put digital apparel on a metaverse character
- A physical Coca-Cola refrigerator of special edition
Coca-Cola gave the winning offer of $575,883.61 from the NFT to charity.
NFT Collection by Robert Mondavi x Bernardaud
One of the most significant and ancient problems facing the wine industry is counterfeit wine. When the Robert Mondavi Winery recently issued its own NFT trends on December 15, 2021, it set out to address this issue.
Through wine tasting, Mondavi integrated the methods of actual wine delivery, digital art, and exclusive benefits. The 1,966 NFTs in the limited-edition collection known as MCMLXVI, which was made as a tribute to the year Mondavi was established, included:
- A distinctive piece of generative art based on the characteristics of the buyer’s preferred wine
- A wine bottle made of handcrafted porcelain
- A voucher that can be used to purchase a wine tasting
Mondavi offered the NFTs $3,500 with later expiration dates for the wine bottle and wine tasting voucher.