Web2, mostly referred to as social media, is for most businesses the most powerful tool to increase customer loyalty, market reach, and form customer networks. Therefore, A business will choose its social platforms based on where its target audience hangs around the most.

But what if Web3 utilities are used together with social media? And what if it could create an even deeper engagement level between the business and its customers?

Why NFT’s Utility Is the Marketing Strategy

By Carin A.   |   06-05-2022 

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Decentralized value storage

The last point is an important one. No matter how the NFT is used, its purpose will always be to provide a decentralized value storage. If demand to purchase the utility of a certain NFT supply grows, so does the value it is requested for.

Imagine the deeper impact a brand can have with such exclusive value storage, that may even personally profit its customers. As the only way to define the value of the NFT is by the demand itself, it leaves the interacting parties with only one question:

What is the value for them?

Market reach

The NFT's structure can form new marketing practices with just a tiny touch of creativity:

Increase brand awareness by giving away NFTs to the 'next 1000 visiting customers’. This NFT can represent a right to certain exclusive benefits, such as collections, services, or entrance to special events hosted by the brand.

Target multiple audiences through collaboration and partnership offerings. A business can reach out to the community and use NFT’s structure as a contract between both parties.

Use creativity to increase word of mouth. There are no limits to the idea/utility/engagement an NFT can stipulate, as there is technically no limit to the value it can store.

Customer Networks

An NFT can be stored only on a blockchain. The purpose of blockchain technology is to disconnect two parties from relying on a third party to safely engage with each other.

A business can choose to reward customers, enable participation in decision making, or form personal partnerships. This unique but natural communication approach between a business and its audience, forms a deeper and stronger community.

What is an NFT?

NFT, a Non-Fungible token, is a digital and unique value storer. In the technical language, it's a term for 'irreplicable'. It can be used to represent a digital asset with unique characteristics. Using NFT's technical design can further increase customer loyalty and market reach and turn Web2 social customer networks into communities.

Web3 is everything that touches a blockchain. Blockchain is an open-sourced and decentralized system that records data and cannot be manipulated by anyone and can be used only by its participants. Interaction with Web3 happens mainly through Crypto or NFT.

What is Web3?

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