Before social media, we were mainly used to companies with similar goals competing over the same target audience. While it still stands true online, collaborative marketing relies on the collaborator’s growth and unity instead of a brand’s entertainment skills. As a result, collaboration turned out to be a faster tool to promote brand awareness, minimize costs and increase sales.

How NFTs are changing Collaborative Marketing

Written by: Carin A.   |   26-05-2022

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In Conclusion

Through the integration of NFTs, brands face limitless opportunities and freedom to express their creativity while connecting to creators. This way, brands build off each other and make their audiences an integrated part of the brand. Proper compensation for the contribution of an audience can significantly increase the success of an overall marketing strategy and form a new layer of cooperation that benefits all the participants.

New collaboration practices using NFTs

In addition to social media profiles, a business can increase customer reach by choosing to expand into Web3. Modern technology gives us better outreach to capture the voice of our target audience. One of the more innovative techniques, is using NFTs. Most of the time, this means providing a unique virtual experience, which can vary based on the collaboration. Additionally, NFTs enable royalty collection within a creator’s work and provide a financial reward whenever their work is used.

There are 3 main types of NFT collaboration:

 Brand X Crypto Freelancers: - Trusted, freelancer, advisors can be found through marketing services or platforms such as LinkedIn. They can provide advice on market interest experimentation and the NFTs’ clever contract design can be used as proof of collaboration.

 Brand X Customer: - NFTs can be used to utilize the power of consumers. Organic growth is known as the most potent user growth, and the integration of NFTs is a way to reach it. Let's assume a brand has a blog, it would be most organic to gave the customer the option to fill it up with their own content. The brand can select the content based on relevancy, while the NFTs mechanism distributes generated returns to all participating creators.
This applies to creators as a whole. Gucci, for example, released the Gucci Sneaker Garage.
It includes an augmented reality feature that allows you to try on sneakers virtually.

 Brand X Brand: - Aligning with like-minded businesses can expand both audiences, or, even better, create a joint service that results in a completely new audience. For example, White Castles (a well-known hamburger restaurant chain) collaborated with Doodle Labs (one of the top community-driven NFT projects) to celebrate its 100th birthday. They created a series of 5,000 NFTs, providing buyers with exclusive perks.

At first, collaboration meant sharing each other’s websites to drive engagement. But as time went by, content transformed to be the heart of digital marketing in almost every field. Starting with simple websites, companies rely now on entire departments for the daily relevant content to engage with users, advertise, and drive sales. But technology is developing, and so is the world of digital creators.

How collaborative marketing is changing