“NFTs” and the technology surrounding them are absolutely everywhere. Chances are, if you’ve taken a look on Twitter, LinkedIn, or even traditional news platforms, you’ve been exposed to the tech phenomenon that’s sweeping any and every industry it touches.
Recently, we spoke on the innovations that NFT technology is enabling within the gaming industry. Including a look at play-to-earn and future video game titles that are incorporating NFT technology into their products.
Today, we’re expanding on that topic and taking a look at how brands who want to reach and communicate with that gaming audience can utilise NFTs and NFT technology in their digital campaigns.
It’s important to note that when we talk about “NFTs” we don’t just mean imagery. Most with only a casual exposure to NFTs will likely associate the term with the colourful but bizarre Bored Ape collection. But NFTs can include artwork, in-game assets, collectables, virtual real-estate within the Metaverse…all sorts. The value from NFTs comes from their deployment, benefit to holders, and what IP they bring to the table.
Who’s Doing It?
Plenty of major industries and corporations have already dabbled in the NFT ecosystem over the last 12-24 months. From fashion, to food, to football, to fighting (and other athletic pursuits…).
Taco Bell jumped on the NFT train in 2021 when they released 25 original NFT artwork pieces for $1 per token. These artworks also came with a $500 Taco Bell gift voucher for customers that purchased the original token, but the company also retained a 0.01% interest in the tokens as they went to resale on secondary markets.
Some of these tokens re-sold for thousands of dollars, and Taco Bell used the opportunity to donate their profits from the endeavour to a charitable cause. The NFT activation caused quite a stir, made for some very happy customers, and ultimately ended up being a vessel for some positive activity.
In a completely different utilisation, plenty of sports teams and players have begun adopting NFTs as a way to communicate with their fanbase. Lionel Messi is arguably one of the most popular sporting figures of all-time, and last year launched his own metaverse on NFTS, titled “The Messiverse”.
His collection included a variety of art pieces and included a chance for buyers to win tickets to watch him play for Paris Saint-Germain in the French Ligue 1. The Messiverse reached over $3 Million in sales on the first day of it’s release.
Plenty of fashion brands have also joined in on the trend, with the likes of Nike, Adidas, and Dolce & Gabbana activating in their own separate ways. Nike acquired a company that manufactures digital sneakers for the Metaverse, while Adidas created their own line of NFTs. Dolce & Gabbana released one of their collections both in the physical world, and the metaverse simultaneously.
So there’s plenty of interest in NFTs. But how could you use them?
Using NFT technology to augment and improve your brand offering is the key to finding success in engaging with this segment of the market. It’s important to not enter the space with the only intent to make a quick and easy profit. It doesn’t work like that, and consumers will see right through you.
Long-lasting value and a strategy that will authentically engage your audience is what will win them over, and earn the additional exposure and engagement that NFTs can provide.
There is no secret sauce that determines what NFTs will and won’t succeed – and anyone suggesting that there is, is more than likely taking you for a ride. But there are some key points to hit.
Firstly, you want to have a reason for creating and using NFTs. Why do you want to enter this space? How will these digital tokens give value to your customers? Perhaps there are ways you can tie-in real-world activity, or give customers a chance to gain some insight into the company values and endeavours.
It’s also vitally important to have a planned and published road map for your NFT release. Prove that there is a plan in place for the audience to gauge for themselves. They need to be informed so that they can make the informed decision as to whether or not they want to take part in the activation.
Lastly, you’ll need to ensure that you or your delivery partner communicates and engages with the community that joins you on your NFT journey. NFTs are new to many audiences, and they will have questions and concerns – many of which are completely valid. Questions regarding environmental impact, for example, may arise. And it’s important to engage with these curious customers, rather than ignore them.
How Can We Help You Start This Journey?
At Mindfuture, we specialise in engaging the young audiences of today where they live. We operate digital campaigns for major brands all over the world – engaging users on platforms like Twitch, Twitter, TikTok, and Instagram.
We have the capacity and the expertise to pilot your entrance into the NFT space. From advising and identifying the ideal offering and market, to the actual design and delivery of these digital tokens.