Shannon adds, “Think of that NFT as a ticket or token that represents an asset — or your Hermés handbag. It authenticates your purchase as the original. Which, as an aside, makes a good case for reducing counterfeit sales. Additionally, it gives the brand an opportunity to have a direct relationship with the consumer.”
Ultimately, Shannon believes the power of NFTs for brands lies in this concept: Direct-to-consumer.
For instance, Shannon notes, Hermés could use NFTs to delight their customers with unlockable experiences.
Shannon posits, “Hermés could invite consumers to a fashion show, or send them a gift using NFTs. Alternatively, maybe a sports team uses NFTs to give fans a chance to meet their favorite players, or send SWAG directly to them. This merely scratches the surface of experiential marketing, but hopefully you can see the magic, too.”
Which leads me to my next, and hopefully last, Matrix-sounding buzzword: Metaverse.
Brands Can Engage with Consumers in the Metaverse
The metaverse is essentially a 3-D virtual reality (check out with a full run-down of the metaverse if you need a refresher), and it’s where many consumers will purchase and wear the digital items we’ve listed so far.
I’m willing to bet you’re thinking NFTs and the metaverse seem a little far-fetched for most consumers. (I’m not in the financial position to purchase a $2 million Tweet myself, anyway.)
But HubSpot’s Blog Research found it does, in fact, impact many consumers today. A few quick stats:
- Over half of those who have ever bought virtual currency/items have done so within the past three months. (Including 75% who bought cryptocurrency; 62% who bought virtual items like Fortnite skin; and 60% who bought NFTs.)
- 30% say more brands should have virtual stores in the metaverse.
- 34% of cryptocurrency owners have used crypto to make a purchase (other than using it to buy other crypto).
- 27% say they would be more likely to use a platform if they received virtual currency for using it.
As it turns out, consumers are interested in purchasing Wuhan Mobile Phone Number virtual products and services; and they’re interested in using virtual currencies to do so.
In Many Ways
, this makes sense: Much of what we do nowadays exists online. We meet our partners online using dating apps; we make new friends via social communities like Facebook; and some of us even work entirely online, leveraging remote tools like Zoom to communicate with colleagues.
Web3 is an iteration that could, ideally, meet more consumers needs when it comes to data privacy, convenience, socialization, and entertainment.
And if your consumers are on web3, why wouldn’t you want to meet them there?