The world of branding was never an easy realm. There are many ways in which people can market brands and there are always different mediums through which brands can advertise or market their products in various methods. Initially, it was through the use of flyers and other materials that people would market their brand, then came the era of the internet where people would use different ways to market their products, such as ads and free giveaways. Now with web3 becoming a big deal, NFTs and NFT Marketplace are on the rise and there are several companies that are trying to capitalise on the blockchain and its products for different reasons.
Why NFTs and marketing actually could work
NFTs are basically one of a kind which also makes them an exclusive asset to own. While considering that by themselves they are valuable enough, they add more value with a utility. That also means that the utility enables them to be a part of exclusive events, discounts, projects, and so on. What essentially happens is the customer of the owner of the NFT subconsciously becomes looped into the prospect of gaining several rewards by merely purchasing some product or service. This would in turn help in creating a user base that is not only loyal but also increases the reorder or re-visit rate as well.
Conclusion
To conclude the above information and all details, the usage of NFTs enables an increase in the reach of a product. This also basically means that NFTs given are incredibly mobile and can be transferred and moved around only further implying that these NFTs and NFT Marketplaces can end up becoming a valuable element that allows the information of the product to be passed around with ease. So yes NFTs do act as excellent marketing tools because of their diversity and multiple different applications, but the USP is the exclusivity that is attached to it.
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