Rapid internet evolution happened in front of our eyes from the days when the web became available to quite a few people in the early 1990s to the mainstream in the late 90s. It was a so-called Web 1.0 where users could consume the information but 99% of them were not creating any content. The next stage was the rise of user-centric Web 2.0, when smartphones became available even in developing countries and social media conquered the hearts of billions of users all around the world. And now, we are seeing a shift to Web 3.0, the era of a decentralized world wide web, based on blockchain technology.
Marketing efforts of Web1 were concentrated on establishing awareness and increasing website traffic. Web2 was focused on building strong customer relationships to boost loyalty and facilitate audience engagement. The epoch of Web3 aims to increase trust and transparency, and the new marketing approaches are already proving their legitimacy.
Non-fungible tokens are meant to power this new decentralized worldwide web. NFTs are unique digital assets, and no one can replicate or substitute them with anything else. It’s simply impossible to do it, and it creates an incredible level of trust and transparency which we all used to be lacking in web2. NFT is a perfect fit for things like digital art, music, sports, concerts, conference ticketing, all sorts of collectibles, and more.
While smaller players are still hesitant, huge brands are already experimenting with NFTs. Of course, they have more resources to test new approaches, but this fact hints that the future of NFTs is very promising.
For instance, Adidas launched NFT cooperation with the Bored Ape Yacht Club, PUNKS Comic, and gmoney, which was on news before the last Christmas. Another good example is NBA Top Shot, which is a platform for trading digital collectibles of the most thrilling NBA matches highlights. The project’s explosive growth since its launch in 2020 is incredible. It’s just a matter of time before the other sports organizations will start utilizing NFTs in their marketing campaigns.
Also, the major social media platforms plan to allow their users to use verified NFTs as their PFPs. Twitter became a pioneer in this context, and it has surely changed the market. Some of the influencers are even borrowing blue-chip NFTs in order to grow the loyal audience at lightning speed. Various platforms specializing in NFT lending are popping up and the number of their services is constantly growing.
There are many other examples of brands that have already nailed their NFT campaigns. Nike’s amazing Cryptokicks project is built around collectible digital sneakers. While some of their real-world collections revolve around scarcity, such a move continues the brand’s strategy and encourages true Nike fans to join Web3 side of their company. The opportunity to share future royalties from secondary sales is something that brings even more encouragement to Nike enthusiasts.
We can also name Time magazine among the big brands that managed to launch ultra-successful NFT drops during the past year. Epic digitized magazine covers and other collectibles do not only bring Time readers closer but also provide additional utilities to the holders. For example, TIMEPieces NFT holders unlock free subscriptions to Time and they continue building the amazing ecosystem together, while both people involved and the brand get their benefits.
For sure, the era of Web3 is just at the beginning of its path. Early joiners including brands and believers will have the best chances to earn benefits. NFTs are able to play a key role in the future of digital marketing. The ultimate goal of the marketing strategies will be a deeper brand connection with the most faithful fans. This is going to be an epic and mutually beneficial path, and we should be proud that we are already walking in the right direction.