Say what you want about the metaverse and the way it seems to become a part of every conversation lately, but it’s here to stay. Web3 is following the trajectory of many emerging technologies that came before: led by a small group of dedicated mega fans, adopted by some intrepid celebrities and brands, then slowly blended into mainstream adoption.
There are certainly elements that feel out of place when discussing today’s most important priorities from a business perspective. But one thing to know about working toward a more tangible, digital future: NFTs are important to everyone.
Understanding the lingo
Let’s first break down the difference between the buzzwords of today and why they matter. As we barrel full speed ahead into a new era of technology, we have started to see the concepts and terms used interchangeably: metaverse, blockchain, crypto and NFTs. Of course, each means something different, and you may or may not need a strategy for all of them.
At the top of the umbrella is the metaverse, the term used to describe a network of virtual worlds. We’ve been headed in this direction for some time now—just think of how video games connect us in another dimensional space. Blockchain is like the autonomous nervous system that runs invisibly underneath many of these worlds. It’s managed and controlled by a network of independent stakeholders that render it decentralized and immutable. Cryptocurrency is currency enabled by that technology and NFTs are unique digital goods that are also enabled by that technology.
Every brand should explore NFTs and how they fit into your business. That doesn’t mean you need to be building virtual real estate, launching a coin or mass-producing JPGs of a certain animal at scale. But if you’re going get into NFTs, you’re going to need a strategy.
Building your strategy and campaigns
Aren’t we all looking for new and impactful ways to engage with consumers? NFTs power that, in a way that has never existed before.
Building an NFT strategy means far more than minting and promoting a project. What the technology enables is a way to permanently connect with your audience. Consider using NFTs to amplify already active channels like ticketing, digital merchandising, community empowerment, fundraising, etc.
If you are looking for one singular piece of advice, it’s to build an NFT strategy that aligns with your brand value. For example, some marketplaces run on environmentally damaging blockchains that may alienate your community. Voice, on the other hand, offers a carbon neutral option.
Creating NFTs can be a simple or complex task, depending on which platform you choose. On Voice, it’s as simple as uploading a file, giving it a title and description, and your creation is permanently on the blockchain. The hardest part is deciding what that asset should be—don’t be distracted by the current trends and produce an original media that matches your brand identity and goals.
When you’re ready to launch your campaign, be sure it engages your most supportive user base. You can start with gifting free NFTs, an approachable way to enter the space without asking too much of your audience.
For example, a Proof of Attendance Protocol (POAP) is a unique NFT badge that could be offered to on-site event attendees. This is both easy to execute and creates a delightful touchpoint for your event experience. Add a QR code to signage, which attendees then scan, and within minutes they’ve claimed a branded NFT. This sort of interaction creates a lasting foundation to build upon in future campaigns.
The opportunities to get started are endless and easier than you think. Preparing to launch a new initiative? Offer rewards via NFTs to incentivize participation. Or distribute your next round of merch as NFTs—a move that can have a lower carbon footprint and can be a lot easier to execute.
No matter how you choose to get into NFTs, remember to do so in a way that speaks to your brand’s mission and audience interests.
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Salah Zalatimo is the CEO of Voice, an NFT platform that makes minting and buying NFTs easy for everyone. Voice is on a mission to empower emerging creators.
