NFTs – also known as non-fungible tokens – are defined by Invetopedia as “cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other.”
Tons of B2C brands are taking advantage including Starbucks, fashion brands, bands for concerts, and more. So why bother caring in the B2B world?
Recently I wrote about the metaverse and how NFTs are utilized and what came to mind most when it comes to brands and this new tool in marketing is events. The metaverse is one location, but in real life events or brand events such as live streams can utilize NFTs as well.
B2B Brands can utilize NFTs with potentially the following:
- Event admission with NFT
- Event bonus content
- Brand loyalty created through NFT in wallet
- Brand ambassadorship through specific NFT in wallet
- Utilizing the cool factor of the popular types of NFTs
- Partnerships with other brands who are already in the space vs starting from scratch
- Partnering with creators who have made an impact vs creating your own
It’s not about you in the space, it’s about the person who carries the NFT in their wallet, and what it means to them. What feeling will it evoke? What type of attention will that carry? Will it provide some sort of special place in the crypto space for them? Will it give them loyalty points? Will they get special access to things or events or products/services?
Lots of things to consider here, but the main point is – what is the value YOUR brand is providing.