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Tokenize Everything

| Slava Kurilyak

The Future of Branding is NFTs

The future of branding is here, and it's all about NFTs. NFTs, or non-fungible tokens, are digital assets that are changing the way brands can interact with their customers. Unlike traditional digital assets, NFTs are unique and cannot be replaced or exchanged for something else of equal value. This uniqueness allows brands to create limited-edition digital items, such as exclusive artwork or special edition product releases, and sell them directly to their customers through the use of blockchain technology. NFTs also allow for a new level of interactivity and personalization, as customers can own a piece of digital content that is directly tied to them and cannot be duplicated. With NFTs, brands have the opportunity to create deeper connections with their customers and offer them experiences that are truly one-of-a-kind. The future of branding is NFTs, and it's here now.

Why Brands Should Care about NFTs

Brands should care about NFTs because they offer numerous benefits when it comes to branding. First and foremost, NFTs allow brands to create a unique and memorable experience for their customers. By offering limited edition digital items, such as exclusive artwork or special edition product releases, through the use of NFTs, brands can differentiate themselves from their competitors and stand out in a crowded marketplace. Additionally, NFTs can help to increase brand loyalty by providing customers with a sense of ownership and exclusivity. Customers who own an NFT from a brand are more likely to become repeat customers and advocate for the brand to their friends and family. Finally, NFTs present an opportunity for brands to generate new revenue streams. As the popularity of NFTs continues to grow, there is an increasing demand for unique and exclusive digital items, making it the perfect time for brands to jump on board and start leveraging this new technology.

How Brands Can Create and Sell NFTs

Creating and selling NFTs is a simple process that allows brands to tap into the growing demand for unique and exclusive digital assets. Here are the steps for brands to create and sell NFTs:

  • Choose the right platform: There are several platforms that allow brands to create and sell NFTs, such as OpenSea, Rarible, and SuperRare. Choose a platform that fits the needs of your brand and has a strong reputation in the NFT community.
  • Create the NFT artwork or digital asset: The NFT artwork or digital asset is the main attraction for customers and should be of high quality and relevance to your brand. Consider hiring a designer or artist to create the NFT, or use existing artwork or digital assets from your brand.
  • Set the price: Determine the price of your NFT based on market demand, the uniqueness of the NFT, and the overall value it provides to customers. It's also a good idea to do some market research to see what similar NFTs are selling for on the platform you have chosen.

By following these steps, brands can successfully create and sell NFTs to their customers and tap into the growing market for unique digital assets.

Brands that are Killing it with NFTs

Several traditional brands have released NFTs in 2022, including Nike1, eBay2, Yahoo2, Netflix2, Visa2, Gucci4, Capital One2, Adidas3 and many more5. Additionally, sports leagues, teams and individual players have launched NFT projects or partnered with Web3 platforms to bring NFTs and metaverse experiences to fans2.

Adidas has released the Capsule NFT Collection, which was launched in May 20226. Owners of this collection will be allocated a randomized piece from the new Virtual Gear collection for free6. The Virtual Gear collection is also available to purchase directly across relevant NFT marketplaces from November 16th onwards7. The genesis collection showcases an evolution of Adidas house codes reimagined for the metaverse8. All 30,000 of Adidas' Into the Metaverse NFTs were minted within a matter of hours and each cost 0.2 ETH (around $765)9.

Time for Your Brand to Embrace NFTs

Now is the time for your brand to embrace NFTs and start experimenting with this exciting new technology. The market for NFTs is still relatively new and there is plenty of opportunity for brands to get in on the ground floor. However, it's important to act now before the market becomes oversaturated and it becomes harder to stand out. NFTs offer a unique opportunity for brands to differentiate themselves from their competitors and create a deeper connection with their customers. Don't wait until it's too late – start exploring how NFTs can benefit your brand and start experimenting with different ideas to see what works for you. Embracing NFTs now will not only help your brand stay ahead of the curve, but it will also open up new revenue streams and allow you to offer your customers truly one-of-a-kind experiences.

References

1: Top 10 Big Brands Investing in NFTs for Growth in 2022 "Measuring the growth of NFTs can be done by looking at a list of the top brands investing in NFTs. 1. Nike. Nike would be one of the first names mentioned among NFT businesses that have gained notoriety recently. Nearly $183.69 million in total NFT sales and $90.59 million in royalties were reported by the sportswear brand.”
2: The Top NFT & Metaverse Projects of 2022 - raritysniper.com “eBay. Yahoo. Netflix. Nike. Visa. Gucci. Capital One. Web3 has also been huge in sports this year. Some of the most popular sports leagues in the world, as well as teams and individual players have launched NFT projects or partnered with Web3 platforms to bring NFTs and metaverse experiences to fans.”
3: Top 5 brands in the NFT space in 2022 - Ad Age “Adidas hinted that it would dial up its NFT efforts in 2022 when it dropped its first collection at the doorstep of the new year. The “Into the Metaverse” NFTs featured 30,000 tokens and ...”
4: Luxury Brands Double-Down on NFTs Despite Bearish 2022 “Data collected in December 2021 for the Vogue Business Index showed that 17 percent of brands in the Index were already working with NFTs. This number increased in 2022 as more luxury brands jumped on the NFT bandwagon and began experimenting with this new medium. Sponsored Sponsored. Gucci, the iconic fashion powerhouse, has been around since ...”
5: NFTs of 2022: A Year in Web3 News - nftevening.com “Every celebrity under the sun was releasing an NFT or buying an NFT. poor justin Bieber dropped 500ETH on a bored ape! ... to a Proof-of-Stake (PoS) system. The Twitter community went wild, marking it as a pivotal moment for Ethereum and NFTs. Traditional Brands in NFTs 2022. Everyone wants a slice of the NFT pie, and this includes popular web2 ...”
6: Adidas First Wearable NFT Collection Marks The First Time You Can Dress ... “Owners of the adidas Originals: Capsule NFT Collection (24,280 in total), which was launched in May 2022, will each be allocated a randomized piece from the new Virtual Gear collection for free.”
7: Virtual Gear for New Realities: adidas Originals launches inaugural NFT ... “For those who don’t currently hold an adidas Originals: Capsule NFT, the new V irtual Gear collection will be available to purchase directly across the relevant NFT marketplaces, from November 16th onwards. As an added benefit, community members who hold a virtual wearable NFT and a compatible partner collection NFT (BAYC, MAYC, Inhabitants ...”
8: adidas Metaverse “Introducing adidas Virtual Gear, designed for new realities. The genesis collection showcases an evolution of adidas house codes reimagined for the metaverse. BAYC DMT. C2172. C2172. C2172. Neobone. Neobone. P.F.D. — Personal Flotation Device.”
9: Adidas sold more than $22 million in NFTs, but it hit a few ... - The Verge “All 30,000 of Adidas’ Into the Metaverse NFTs were minted within a matter of hours of going on sale Friday. Each NFT cost 0.2 ETH, which currently equates to about $765, and the company sold ...”