From NFTs, gaming, and solving old problems in a new way, innovation in marketing has a new playfield, trends, and rules. With plenty of possibilities to thrive, marketers need to stay up to date to remain in the game. Let's find out.>
NFT's and their relevance in Marketing
What is an NFT?
A fungible asset is something whose units can be easily traded, like money. With cash, you can exchange one $10 note for two $ 5 notes, and they will have the same value. On the other hand, if an asset is non-fungible (NFT), it is impossible - it means that it has unique properties and that it cannot be exchanged with another asset. While NFTs can be traded just like any other asset class, every single token is unique, rare, and as prime numbers indivisible.
The virality and quickly transmittable nature of NFTs in an increasingly socially and digitally-driven environment mean that they can be used across multiple areas of a brand, making them relevant to marketing.
Examples of NFT can differ enormously; Nike patented shoes in the form of NFT on the blockchain of Ethereum, blockchain publication, and dubbed them Crypto Kicks. Meanwhile, TIME Magazine produced the first-ever NFT cover, followed by the headline "Is Fiat Dead?"
Jump in the Bandwagon
Our P&G's clients at Charmin released its NFT - three original pieces of digital toilet paper art celebrating its mission to help everyone "Enjoy the Go" in real life and virtually. Known as NFT(P), the art will be auctioned off and will come with a physical display so people can hang their NFT(P) in their bathroom alongside real rolls.
NFTs are set to change how data is monetized and used in loyalty programs from a more profitable point of view.
Knowledge is power
In the case of reward programs, NFTs could be encoded with CRM data-informed insights, such as age, demographics, buying patterns, and other characteristics that share insights into a consumer's tastes. NFTs may be optimized by encoding related features such as gifts and coupons or even access to a VIP program customized for the user. This allows brands to enrich the brand-customer experience, changing the way brands engage their customers.
As NFTs can go on to be resold on secondary markets, this also allows consumers to maximize the value derived from their relationship with a brand,"
In the future, every entity may own a digital embodiment of themselves and have complete control over their digital properties, including personal data.
It is never too late to learn to play the game; games for marketing or gamification marketing generally continue to level up in accessibility, functionality, and lifestyle integration.
Do not let some old preconceptions hinder you from leveraging all the advantages of your new gamified campaign. This is further magnified when no defined strategy is used in planning and measuring the metrics. Inevitably, this creates terrible impressions of the usefulness of marketing games.
People also need assistance with product gamification or developing a winning game that offers a very addictive atmosphere, causing players to keep playing. They say you can't win the game if you are not willing to spend; however, contrary to popular belief, a game campaign is cost-efficient.
Old- new school
Sometimes it's all about solving old problems with new solutions: keep in the game while boosting your digital and graphic content, and achieve your brands objective and comply with all your outlet's requirements; 121 can help to give you peace of mind with that and help you create a one-stop-shop for all the required elements of a successful minigame marketing campaign as well as boosting your Social & E-comm content, graphic design, digital implementation to integrated production. We genuinely believe that we can play a significant role in your success.
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Last Edited on May 25, 2018