Innovation With NFTs
As Net Conversion ventures into the future of marketing and analytics, it is important to survey every possible playing field for our clients. This article specifically, will hone in on one potential field that could offer a variety of unique benefits to both Net Con and our loyal clients.
That field is none other than: Non-Fungible Tokens aka NFTs.
Before we begin, it is important to have at least a slight grasp of what these revolutionary tokens are. So basically, NFTs are pieces of digital content (images) that are backed by smart contracts, and these smart contracts are stored on the blockchain which is essentially a digital ledger. Furthermore, smart contracts serve as a sort of control system for each individual NFT stored on the blockchain, and it is within these contracts that some impactful innovation can happen.
So how will this rapidly growing system affect the future of our industry? Well the answer is… in a few interesting ways.
- Business transactions will likely be taken over by smart contracts, which remove the need for any mediators during valuable exchanges.
- Software may shift to both accommodate this new business-transaction method, and proceed with data collection regarding consumer activity.
- New marketing opportunities may arise including the creation of communities that interact with your product or service, placement of advertisements within videogames or virtual realities, and creator partnership.
- Introduction of branded collections as a form of product and content release.
It is important to always stay ahead of the technological curve and seek possible improvements to pre-existing strategies. For example, maybe one day we will see a ‘Net Con’ NFT collection, utilizing Astro as our mascot, that grants loyal holders (clients) access to NC marketing tools and insights. This collection could include a few highly priced 1/1 pieces as well which grant the holder private, company-specific, marketing and strategy session(s).
Logan Didier, Marketing “Executive” Intern