The future of NFTs is bright! More brands are using them to create new forms of engagement and monetization models, which can be applied in many ways: from loyalty programs to new ways to express ourselves online and even digital collectibles that can be used as currency.
Future of NFTs
Here are some ways we can expect brand-powered NFTs to evolve:
Brand-Powered NFTs for Consumers — Brands will continue to use NFTs to engage with their customers through exclusive products and limited edition items that only they can offer. This will allow brands to build deeper relationships with their consumers by giving them something that no one else can access. It also allows brands to create unique experiences around exclusive goods and offers, which will only increase brand loyalty among fans who want access to these unique digital collectibles.
Brand-Powered NFTs for Fans — Fans are already creating fan clubs around brands like Marvel, Star Wars, or Pokémon GO! These fan clubs have become very popular now. We can see many of them in Telegram groups and Reddit forums, but the brand does not support them. The fans are doing it independently without the brand’s help. If a brand wants to connect with its fans more closely, it can use NFTs as a way to reward its best fans and create a community around its product.
One of the tremendous benefits of brand-driven NFTs is that they raise awareness of a company or product amongst its audience. This awareness can translate correctly into a movement, which makes your customers accountable to your brand in a way that conventional advertising failed to do. Because of their collectability and inherent rarity, branded NFTs are also intriguing from an investor standpoint.
Find more at:
Harvard Business Review: https://hbr.org/2022/02/how-your-brand-should-use-nfts