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It’s OK to admit it: For many, the rapid emergence of NFTs—nonfungible tokens—can make your head spin. An eye-popping $70 million for a digital asset we can all view online for free? Are we caught up in a speculative, hype-driven fad, or is there tangible and long-term value here?
While we all have a lot of learning and innovating to do to take full advantage of this next frontier, the smart money sees opportunity. It may be the artists, the athletes and the tech crowd who got there first, but it will be the marketers who translate their burst of innovation into a lasting, dynamic and rewarding relationship between brands and consumers.