Blockchain technology and NFTs are promising technologies; several major businesses have already begun to use them and proved that they could produce actual engagement. B2B Marketers are constantly looking for new methods and technologies to achieve a competitive edge; it’s not a surprise that there’s been some talk about how NFTs and blockchain technology may help companies.
What Are NFTs?s
NFT is also known as a Non-Fungible Token. Fungible means something which can be exchanged with something which holds similar value. For example, cryptocurrencies are fungible because they employ a digital public record of transactions known as a blockchain.
NFTs are digital assets that can be purchased and traded using blockchain technology. However, unlike cryptocurrencies, NFTs are not fungible, and they are classified as a separate category of assets.
NFTs for B2B Marketers
NFTs are extremely versatile and may be utilized for almost anything today. B2B marketers might have difficulty visualizing how NFTs may be linked to their nft marketing plan. NFTs may be considered a direct approach to engaging with your consumers — ownership is a strong concept that fosters a tighter link between your customer and your business.
B2B marketers may profit from NFTs in a variety of ways, including:
- B2B marketers can provide customers with one-of-a-kind and distinctive brand experiences with the help of NFTs.
- Early access tokens can be used to generate excitement in the run-up to events and product launches by.
- B2B marketers can use collectable items that are both limited and unique to tell their brand’s story.
- Through token sales, B2B marketers may help causes important to their business.
- Selling things in totally digital form or as an addition to a physical offering can help create new streams of revenue for B2B businesses.
- McDonald’s, Pizza Hut, and many more are among the first to launch NFT campaigns, offering digital burgers and pizza art to customers.
B2B Marketers Need to Be Careful
There are still some downsides for B2B marketers when using NFTs. NFTs are a high-reward, high-risk investment. An NFT collection may not always attract the community, awareness, and traction it needs to be successful, and it may not always yield a meaningful return for B2B businesses.
This community is critical for new and smaller NFTs that do not have exposure from a well-known source, as it generally provides the first money and buzz for the project’s debut. Therefore, B2B marketers need to be very careful about how they approach NFTs for their marketing purposes.
Hello, My name is Shari & I am a writer for the ‘Outlook AppIns’ blog. I’m a CSIT graduate & I’ve been working in the IT industry for 3 years.