September 30, 2022 - Web 3.0
NFTs: A New Approach to Fostering Brand Loyalty
Web 3.0 technologies like NFTs have gained popularity very quickly in the last two years. But, people still have a healthy dose of scepticism about this blockchain ‘revolution’ – and fair enough. The NFT space is saturated with fraud and is subject to some serious ups and downs.
Some consider NFTs to be a bandwagon fad poised to ‘pop,’ while others position them as emerging tools that will revolutionize the marketing and investing landscapes.
Either way, artists have been looking for a tool to better commodify their work for some time, and NFTs offer up a way to do so. While we undergo a rapid transition towards Web 3.0 and a digital economy of goods, more artists – musical, graphic, and otherwise – are producing digital works in an online, shareable space. NFTs emerged in response to artists’ need for a way to monetize their work.
They’re also a great example of the influence marketers have, along with a potentially effective strategy for companies looking to create a more personalized customer-brand community.