More brands are embracing the transition into the metaverse and adopting NFTs as a marketing tool. How are they doing this? By engaging NFT influencers and NFT influencer agencies to get the message out and to help establish their presence in Web3. By working with NFT creators and influencers, brands can tap into new audiences and consumer bases while standing behind an established voice in the industry.
Here is everything you need to know about the world of NFTs as they pertain to influencer marketing and your brand:
1. What are NFTs?
NFTs are non-fungible tokens, or one-of-a-kind virtual assets that can be traded because they are recorded on the blockchain and are only available in a limited number. NFTs can represent an entirely virtual object or the virtual rendition of a physical object, like a baseball card. NFTs are bought and sold online using cryptocurrencies because they are also decentralized and recorded in the blockchain. NFTs can be created for works of art, GIFs, profile pictures and avatars, collectibles, sports highlights, clothing items, music and more.
2. What is an NFT influencer?
NFT influencers are popping up left and right, so it’s a good idea to have an idea of the characteristics you should look for in an influencer partner. NFT influencers are often crypto influencers as well, and they are experts or experienced traders in NFTs and/or cryptocurrencies. These creators can break down complex topics so that anyone can understand them, offer trading tips and know everything about the comings and goings in terms of trends in the world of NFTs. Another type of NFT influencer might be the artist or the creator that generated the NFT that is being minted, or a celebrity or mega influencer who has already invested or is trying to hype up an investment in a NFT.
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3. Why should brands work with NFT influencers?
NFTs are all about community, and that’s what NFT influencers can bring to the table for brands. By generating hype, explaining the minting process and the benefits of investing in the NFT, while continuously engaging audiences with fresh new content and investment opportunities, NFT influencers help brands create a solid community in the digital metaverse that can drive sales. In addition, NFT influencers have built loyalty with their followers over time, which can amp up the already strong power of word of mouth when it comes to a brand’s influencer marketing efforts.
4. How can brands work with NFT influencers?
A lot of brands are already working with NFT influencers. Some brands are using NFTs to create a lure of exclusivity around reveal events and other brand merchandise. Yet others are using NFTs for a cause by building communities and creating an impact. Take Gucci, for instance, that minted a NFT based on a short film that it broadcast during one of its fashion shows and sold it at auction for more than $25,000. Gucci then committed to donating the proceeds to UNICEF USA and ensuring equitable access to COVID-19 vaccines. The brand got the word out about the auction using NFT influencers.
When it comes down to it, NFT might be the buzzword of the day, but investing in relationships with NFT influencers can definitely pay off for brands down the road if they do it right.