What is a Non-Fungible Token? Or NFTS, for short. These Digital Assets cannot be divided and are impossible to replicate. By using them, anyone can verify the authenticity of an item and protect its intellectual property rights. NFTs are slowly gaining traction not only as a new asset class but also as a marketing tool. It’s an exciting space because it brings a lot of unique opportunities for brands to engage with their audiences on different levels. Let us look at the ways marketers are using NFTs for marketing and getting involved in the market.
Adidas And Prada
Adidas for Prada Re-Source is a community-created digital art project that includes 3,000 unique tiles. Adidas has partnered with Prada to launch a first-of-its-kind NFT project showcasing creator-owned imagery. The project allows the community to contribute to a large-scale artwork.
The project rewards participants with a portion of the final artwork auction sale. A final artwork canvas is produced by the digital artist Zach Lieberman. As Polygon is considered to be more environmentally friendly than other blockchain networks, it is used to create the individual tile NFTs. The finished NFT artwork is an Ethereum Mainnet ERC-721 currency, with up to 3,000 unique tile makers receiving royalties.
Coinbase And Mastercard
Coinbase has teamed up with Mastercard to expand payment options and make it easy for anyone to buy NFTs with a Mastercard card. Coinbase has also planned to launch a new marketplace where users could buy, collect and sell NFTs. Coinbase and Mastercard’s partnership is part of Mastercard’s larger effort to help the crypto ecosystem by providing additional crypto wallet options and cybersecurity precautions.
Budweiser is teaming up with 22 of the world’s most promising new musicians to release the Budweiser Royalty Collection, their first-ever NFTs. These NFTs allow fans to directly support artists and possibly gain access to exclusive events with them. Artists like Satomaa, Leo Conoza, Sprtyk, Millie Go Lightly, Lil Polo Tee, Farina, Samantha Sanchez, Lil Keed, Paopao, Immasoul, and more are involved in this project.
Under 48 hours of being claimed, a randomized NFT representing one of the 22 artists will be disclosed. There are 11,000 tokens in this collection, with 500 NFTs per artist divided into three tiers:
- Core (400 tokens per artist): Core Rookie Card owners may honor artists and show off their early support.
- Rare (99 tokens per artist): Rare Card owners have access to a virtual listening party with their favorite musician on Discord.
- Ultra Rare (1 token per artist): Owners of the Ultra Rare Rookie Card will have access to a virtual listening party as well as a 1:1 video conversation with the budding talent.
Animal Planet introduced Puppy Bowl NFTs powered by Proof of Stake-based solutions (to lower the carbon impact of these NFTs). Chronicle (NFT marketplace and studio) hosts the Puppy Bowl NFTs. There are many types of trading cards in the collection, like FREE COMMON CARDS, COMMON CARDS, RARE CARDS, LEGENDARY CARDS, IMMORTAL CARD – MOST PUPULAR, IMMORTAL CARD – GAME MVP (with the Immortal cards, collectors can also appear as a virtual fan in next year’s Puppy Bowl).
Barbie And Balmain
Barbie and Balmain are collaborating on a ready-to-wear line, an accessory line, and a series of NFTs. The human-made clothing and accessories will be available worldwide on the Balmain and Mattel Creations websites, as well as at select retail outlets.
The capsule collection, which will include more than 50 pieces, will combine iconic designs from both companies. Badges, T-shirts, and hoodies are part of Balmain’s limited-edition collection. The Labyrinth print from Balmain and French marinière tops will appear in the collection. Barbie’s many colors of pink, from gentle blushes to brilliant Malibu neons will be the main theme.
NFTs have the ability to revolutionize marketing forever by increasing the ways a company can be innovative with its marketing campaigns. Marketers may use NFTs to increase their participation with customers, as well as make their customers feel involved in the process of designing the product or choosing colors. Overall, NFTs have a chance to change how brands interact with the market during production and marketing.
With JP Morgan entering the metaverse, there are chances that other financial corporations might do the same. The world is going towards advancing technology and soon people may rely more on Digital Assets for finance and entertainment.
Even if you have not started investing in NFTs or Cryptocurrency, you certainly would have social media accounts saving the best of your memories with your family in digital form. You might be using payment apps saving all your confidential data, which could be used by hackers to steal your identity after you’re no more. To protect your Digital Legacy, after your demise or incapacitation, opt for Digital Estate Solutions with Clocr!