NFTs and Web3 are the future of marketing, according to this year’s marketing trends survey.
But most NFTs today “are just utter garbage,” said Matthew Mozzocchi, Head of Key Accounts at MarketerHire and self-proclaimed crypto-fan. “They have no value.”
So how should marketers stay relevant? Should they join the scammy celebrity-NFT complex?
Here are three ways marketers can use NFTs that aren’t smoke and mirrors, according to Mozzocchi and Andrew Wise, growth marketer and founder of Memberone DAO.
Partner with web3 natives
“There’s a stigma” to branded NFTs among savvy crypto people, Mozzocchi said.
This one worked because it was a partnership. The project homepage reads, “Bored Ape Yacht Club, PUNKS Comic and gmoney welcome adidas Originals Into the Metaverse.”
The word “welcome” makes Adidas’ project seem approved by NFT legends — and earned the brand a hall pass, Mozzocchi said.
Build a blockchain-only community
Enough people have entered the crypto world that you can cater exclusively to them — and make millions. Proof: Flyfish Club, a dining club accessible only with the Flyfish NFT.
“[It’s] a lot like country club networking,” Mozzocchi said.
It’s lucrative, too. The Flyfish tokens went for nearly $15K each, raising the not-yet-open restaurant $14M in just a week — and patrons will have to pay for their meals there, too.
Find a devoted audience of beta testers
“What NFTs allow you to do is hone in on a specific audience and build a specific product just for them,” Wise said — and they’ll even help with product development.
Take up-and-coming luxury sneaker brand Cult&Rain. Some of the brand’s NFTs — GIFs of 3D sneaker renderings — come bundled with a pair of the brand’s first physical sneakers.
They’re not a must-have, but NFTs are a good fit for brands that can build partnerships with cryptocurrency projects, and have the resources for a membership program and community.