Home CryptoBitcoin Big Brands are Charging into the NFT/Crypto Marketing Space

#brands #crypto #marketing #consumers #NFTs #digital #metaverse

Recently, there has been a lot of hype around NFTs and Crypto is surging in the digital world for now.

However, due to the promising future of these digital technologies, many big brands like Coke, Louis Vuitton, Dolce & Gabbana, Nike, Gucci, etc have entered the market space and others like Walmart, Adidas, Crocs footwear, etc. are planning to bite into what NFT/Crypto has to offer.  

But the question that a lot of people have is “Why are brands coming into the NFT/Crypto space?”  

Well, it is not rocket science why brands will want to come into the digital spaces. Every day people are spending more time in the virtual world and research shows that the number of people spending time in the virtual world will increase.

This has further reinforced the notion that there is no better market strategy than for brands to come into the space where most of their target customers are spending their time.

The covid-19 and omicron virus has also been added to the list of reason why people are going virtual.

This has led the world to improvise. Several celebrities have even had their concert in the metaverse like Ariana Grande, The Weekend, Travis Scott, etc.

The NFT/Crypto marketing strategy offers brands benefits like;

An avenue to increase their commercial and customer engagements

A lot of brands have devised innovative means, using NFT/Crypto to market new products, boost their image, and brand loyalties by creating NFT collectibles and limited editions to attract people to their brands and keep them engaged.

This development started in 2021 and is gaining a lot of attention in 2022 with more brands using it to increase their brand awareness and customer engagement

These tokens can be used as rewards to incentivize customers through gifts that are valuable in real life and access to exclusive events hosted by the brand.

Recently, Louis Vuitton celebrated their 222nd anniversary with the launching of an NFT game set in the metaverse and their loyal customers where given access to this metaverse.

An Avenue to boost their earnings 

Brands bringing their products to the virtual world helps to boost their income. They can sell not just physical goods but digital goods as well.

In addition, creating their digital currency will help reduce transaction costs for their customers and increase their income since there are no third parties to pay. 

Easy management of digital goods

With the Blockchain and smart contract technology brands can manage, collect and store digital collectibles without the fear of losing money to people downloading them for free.

An example of a brand that shows that digital products can sell is the RTFKT sneaker. The digital sneaker was sold on Snapchat with over 600 sales in 7 minutes, making them a sum of 3.1 m USD.

Final note

The NFT/Crypto blockchain technology has proven useful to brands and there are still more benefits yet to be experienced.  imagine fashion week in metaverse…cool right!? Exactly. Digital is the future and brands that can utilize this development now will be at a huge advantage in the future.

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.