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Digital marketers are familiar with NFTs and cryptocurrency. We have all heard brands increasingly use NFTs, cryptocurrencies, and other digital marketing tools.
According to a report, the global NFT Market reached $44.2 Billion in 2021 and continues to grow.
We need to take a moment, breathe deeply and consider how digital tokens are connected with digital marketing.
What is Cryptocurrency, and Why Should You Care
This digital currency is stored in an electronic wallet and is usable like any other type of currency. Cryptocurrencies are also not unique and can be traded or exchanged.
NFT, on the other hand, is an entirely different case.
Digital assets that are not fungible, such as NFTs. Each NFT is unique; there are no copies. The creative works can include virtual real estate or digital art, fashion, etc. NFTs can be anything, as they allow for the creative expression of artists and content creators.
NFTs are based on blockchain technology, which makes them decentralized and independent from traditional financial institutions and authorities.
Why are tokens necessary for digital marketing
NFTs increase brand awareness and help you reach your target audience. By using NFTs in your marketing campaign, more people can see your brand. The perfect way to promote your tokens is through social media.
NFTs, cryptocurrencies, and loyalty. Brands can create closer and more intense relationships with their customers by personalizing. The NFT increases your customer’s commitment to your brand, allowing for a more intimate and direct connection.
They promote customer interaction and community-building. By sustaining user-generated material, your brand can increase interaction. Listening to your community’s suggestions can help your brand build a stronger community and create marketing strategies compatible with your target.
NFTs give your brand unlimited freedom regarding content creation because they can be digital art pieces such as JPEGs or GIFs, 3D animations, audio recordings, etc. NFT marketing allows your brand to take advantage of all virtual products’ benefits.
Digital Marketing Case Studies Resounded
NFT Marketing offers many benefits to brands, and these opportunities continue to expand. Brands can make millions by selling NFTs and increasing their visibility and popularity.
They use them in different ways. These are some examples of brands that have used NFTs and cryptocurrency in digital marketing.
Taco Bell
This is an important and well-known case of NFT use in digital marketing. The brand was the first to adopt NFT marketing and NFT trends.
The 25 NFT GIFs were sold in 30 minutes at different prices. They paid thousands of dollars per GIF.
The NFTs were created to attract attention on social media.
Taco Bell has successfully raised brand awareness with this sale.
Kings of Leon
Kings of Leon, an American rock band, was the first to use NFT marketing within the music industry. They created the first NFT music album in March 2021.
The album “When You See Yourself” was released as an NFT.
The band released their album in three versions. Each version is different in terms of its content. Fans of the crew who wanted digital collectibles would not take advantage of this opportunity.
They managed $2 million in NBA Top Shots and provided a digital trading platform. Customers can own, trade, and sell official digital collectibles and NFTs featuring the NBA’s most incredible plays and players.
You can find short clips of highlights from the most critical plays in NBA History. Each of these clips is called a Moment. Customers can buy and sell these Moments, and each has its unique feature.
The platform has seen a significant increase in sales of Moments.
Pizza Hut
In 2021, Pizza Hut Canada organized a digital marketing campaign to present its four new pizza flavors.
The first non-fungible Pizza was the NFT campaign “1 Byte Favorites” by Pizza Hut. Pizza Hut released an NFT pizza with a new flavor each week. The pieces were purchased to “enjoy a flavor that would last forever.”
The campaign focused on brand awareness and customer loyalty; money was not a priority.
Each Pizza NFT was sold at $0.18. This is a very low cost. On the other hand, it was quickly relisted for 5 ETH ($9,000) after it was bought.
It is now higher than it was then. One slice costs 75 ETH ($200k). This campaign is an excellent example of how to use cryptocurrency and NFTs for digital marketing.
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