Web3 is revolutionizing the way we use the internet, and nowhere is that more apparent than in the rapidly growing world of NFTs. Creating an NFT collection can provide an excellent way to bring your brand and product lines into a modern world, strengthening your relationship with your audience.
Are you developing your company’s Web3 strategy? Here are 5 ways that modern brands are diving into NFTs.
5 Ways Brands Are Incorporating NFTs in Their Business
Bring Your Products to the Metaverse
Cozomo de’ Medici, the Web3 alias for legendary rapper Snoop Dogg, tweeted “Everyone is coming for NFTs. Literally, every man, woman, and child. Kids are growing up with in-game items. All real-world luxury items will have a digital twin.”
And indeed, that’s the trend we’re seeing as real-world brands bring their products into the metaverse.
In April 2022, Nike and RTFKT released their first virtual sneakers in the form of a collectible NFT. Other brands have dipped their feet in the water too, including Ralph Lauren, who filed a trademark for NFT-backed multimedia in April.
GROW client Block Ice has also taken to the metaverse, collaborating with Web3 production company 1687 on NFT artwork that includes Block’s artisan ice cubes.
Include Your Branding and Logo in the Artwork
NFTs are digital collectibles, and including subtle nods to your brand in the artwork can help tie your business to the trend and create enthusiasm for your brand.
When GROW’s project 1687 created an NFT for GROW’s CEO Toby Briggs, they incorporated GROW’s branding in the artwork - the background is a nod to the cyan triangle of our logo.
Pepsi also took this approach with their NFT series, The Pepsi Mic Drop. The series of 1893 tokens (the year the brand was created) include Pepsi’s red, white, and blue branding.
Tell Your Brand Story
Pepsi’s NFT series does more than just showcase its branding, it also helps to tell the brand’s story, highlighting its longtime connection to the music industry. Similarly, Stella Artois shared its brand story and its commitment to providing safe water access with a series of 1024 water-themed NFTs which benefited Water.org.
The NFT community is a thriving world of artists and art collectors, which gives brands a unique opportunity to share their stories and values in a visual, collectible medium.
Hype Up a New Brand or Product Line
Unveiling your next big project? Build excitement with a collection of NFTs.
Norwegian Cruise Lines showcased their new vessels with an NFT collection. That collection would go on to sell out in just 20 minutes. The proceeds went to Teach for America. The art, which can be viewed here, is inspired by artwork aboard the ships or the creative process.
Build A Community Around Your Brand
NFTs offering membership access to community or exclusive information and releases can help build up a community around your brand, creating deeper relationships with your customer base.
1687 takes this approach. As an NFT membership club, token holders enjoy access to exclusive collaborations, NFT drops, and other benefits.
The NBA’s Dallas Mavericks, in partnership with Ticketmaster, are also using their NFT series to build and strengthen their brand’s community. Their NFTs are unique collectibles awarded to fans who have an account and attend their games. They also promise related rewards in the future for token holders.
As NFTs grow in popularity, it’s becoming easier for brands to take advantage of the new technology. Shopify is supporting NFTs allowing their website owners to join the world of Web3, and OpenSea has expanded its platform to accommodate four different blockchains, among other developments. NFTs pose an enormous opportunity for businesses – how will your brand benefit?