Most of them have built network economies that scale when the masses adopt their product. Traditional tech companies create revenue from the data of their users, but there is a new wave of people looking for ownership of their data, their assets and their identity. They want to see how their problems are solved in a way that resonates with their values of decentralization and sovereignty.
Today, our world is on the more centralized side with some governments having too much power, and they control everything from what you can say to how you can spend your money. That’s why many people demand more decentralization, and why cryptocurrency is popular”
CZ, CEO of Binance
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A Deeper Look at NFTs: Why Are They important?
With that said, any company loyal consumers or an active community can (and should) be thinking about how NFTs could work as brand-building, engagement-driving, even revenue-generating tools.
Top 7 NFT use cases
Create Immersive Digital Experiences: H&M
Metaverse activations are unique in that they can fully immerse the user into a digital space that is visually interactive. A couple of months ago, H&M opened its digital doors to its first-ever virtual showroom.
- Voting rights. Holders of the tokens get to have a say in various decisions of their favorite football club, including bus design and kit design. They can vote within polls their club carries out.
- Matchday experience. Holders of the tokens get an opportunity to access the stadium during warm-ups and practice games.
- Watching matches as a VIP guest. Socios.com tokens allow holders to meet team members and have online meetings with players.
Share Revenue with the Community: Bacardi
This marketplace was created by the Sturdy Creative House and Digital Delve, a studio dedicated to creating and producing visual narratives in physical, live performances.
The artwork was made by Serwah Attafuah, a multidisciplinary artist and musician based on Dharug land/West Sydney, Australia. She creates surreal cyber dreamscapes and heavenly wastelands, populated by Afro-futuristic abstractions of self with strong ancestral and contemporary themes.
Create New Product Lines for Digital Native Communities: Tiffany & Co.
We’re taking NFTs to the next level. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a bespoke pendant handcrafted by Tiffany & Co. artisans. You’ll also receive an additional NFT version of the pendant. Learn more: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4— Tiffany & Co. (@TiffanyAndCo) July 31, 2022
Use Crowdfunding: Zero Contact
Leverage Nostalgic Branding: Coca-Cola
The auction ended at 217 ETH ($575,883.61 USD back then) and the proceeds from the NFT auction went to Special Olympics International.
Incentive the Users with Play-to-Earn Dynamics and In-Game Assets in the Form of NFTs: Axie Infinity
Ready to Get Started?
There’s no limit to what web3, NFTs, and the Metaverse offer for your brand. If you’re not sure where to start, Crowdcreate can help. Since 2017, we’ve helped thousands of brands successfully launch their web3 and NFT projects. Book a call today to learn more!