The Benefits of Using NFTs in Advertising and Marketing: 3 Case Studies
As advertising and marketing evolve, more businesses are looking for new and innovative ways to reach their target audience. A growing trend is the usage of NFTs, otherwise known as non-fungible tokens. NFTs are unique digital assets that can promote a brand or product.
This article will discuss why advertising and NFTs go hand in hand. We will also touch upon three case studies demonstrating the benefits of using NFTs in advertising and marketing. Let’s get started!
Advertising Using NFTs: Why It Makes Sense
NFTs are the perfect tool for advertising because they offer several advantages that traditional methods cannot match.
Some of the benefits of using NFTs in advertising include the following:
NFTs are unique and can’t be duplicated
Using NFTs to promote a brand is cost-effective. NFTs are also one-of-a-kind and can never be duplicated. This means that your target audience will always know that they interact with your brand and not an imitation.
NFTs provide a new approach to interacting with customers
Using NFTs, organizations may reach out to their target audience uniquely and engagingly. Also, customers can collect, trade, or even sell your NFTs, which gives them a reason to keep coming back to your brand.
NFTs are still relatively new
While NFTs have been around for a while, they are still relatively new in advertising and marketing. This allows businesses to be adopt early and stand out from their competitors.
Now that we’ve discussed why NFTs are perfect for advertising, let’s look at three case studies demonstrating the benefits of using NFTs in advertising and marketing.
Case Study #1: The Coca-Cola Auctions
In September of 2020, Coca-Cola launched its first-ever NFT auction. With the help of the Cent blockchain platform, the auction was conducted.
Coca-Cola offered two different types of NFTs for sale:
- One came with a physical can of Coke that could be redeemed at a later date
- One was purely digital and could be collected and traded by the customer
The auction was a success, with over $500,000 worth of NFTs being sold. This case study demonstrates the benefits of using NFTs in advertising and marketing. It shows that businesses can use NFTs to reach a wider audience and generate more interest in their brand.
Case Study #2: Nike’s RTFKT NFTs
In December of 2020, Nike launched their RTFKT (Ready to Flyknit) line of NFTs. The RTFKT line is a digital sneaker that customers can collect and trade.
Nike’s RTFKT NFTs are the perfect example of how businesses can use NFTs to reach a new audience. As a result, Nike could tap into a market they may have otherwise missed by offering a purely digital product.
Nike’s RTFKT NFTs allowed them to reach a new audience. But they were also successful in generating buzz and interest in their brand. Within 24 hours of launching the RTFKT line, Nike had sold over $600,000 worth of NFTs.
Case Study #3: Burger King’s Whoppercoin
In August of 2017, Burger King launched their Whoppercoin cryptocurrency in Russia. The Whoppercoin was created to reward customers for buying Burger King products.
Customers could earn Whoppercoins by making purchases at Burger King and then use those coins to redeem discounts and freebies at the restaurant.
The Whoppercoin was a success in the Russian Federation, with over one million Whoppercoins being distributed within the first month of its launch.
This case study shows that companies may use NFTs to establish rewards programs to keep them coming back for more. By offering an incentive for customers to purchase their products, Burger King increased sales and grew its customer base.
Why These NFT Advertisement Campaigns Worked
These three case studies demonstrate the benefits of using NFTs in advertising and marketing through the following:
1. Reaching a new audience
With Nike’s RTFKT NFTs, businesses can use NFTs to reach a new audience that they may have otherwise missed. By offering a digital product, businesses can tap into a market of customers interested in collecting and trading NFTs.
Reaching a new audience is essential for businesses because it allows them to grow their customer base and generate more interest in their brand.
2. They offer a new approach to customer engagement
With Coca-Cola’s auction, NFTs offer businesses a new interactive way to engage with their target audience. Customers can collect, trade, or even sell your NFTs, which gives them a sense of ownership and investment in your product.
3. They create loyalty
Businesses may employ NFTs to establish loyalty programs that keep consumers coming back for more, as shown by Burger King’s Whoppercoin. By offering an incentive for customers to purchase your products, you can increase sales and grow your customer base.
4. They’re a great way to generate buzz
These case studies demonstrate how NFTs can generate buzz and interest in a brand. Whether it’s through offering a new and innovative product or by creating a loyalty program that customers can get excited about, NFTs are a great way to get people talking about your business.
If you’re looking to reach a new audience, engage with your customers, or create loyalty among your customer base, consider using NFTs in your advertising and marketing campaigns. NFTs can help you reach all of these objectives if you utilize them correctly.
What do you think? Are there any other benefits of using NFTs in advertising and marketing that we didn’t mention? Let us know in the comments below!
Chat with the expert NFT promoters and marketers at Mooning
Sure, all the examples of NFT promotions we listed are from global brands with endless coins to throw at their campaigns. But you really don’t need a crazy-high budget to see some seriously incredible outcomes – as long as you know the delicate intricacies of building a killer NFT marketing strategy!
If not, no worries – Mooning is here to take care of everything for you and make sure you see the most amazing ROI you’ve ever seen before. Our team has the knowledge and experience to promote your NFTs in order to deliver maximum awareness and interest, driving the sales prices up sky-high and beyond.
We provide a full suite of expert NFT marketing services and go above and beyond for every one of our clients to ensure only the best results. Our team will help with everything from minting, listing and selling, NFT creator sourcing, community management and campaign conceptualisation.
So get in touch with us now on 1300 818 435 or message us online.