How will NFTs disrupt Sales and Marketing?

You’ve probably heard of NFTs in the context of strange art projects like the Bored Apes Yacht Club or Crypto Punks. Much has already been written and discussed about how NFTs will impact industries centered around digital content. However, NFTs can also be a very disruptive tool for tokenization of real-world assets. What do I mean by “tokenization.” Tokenization means that we create a unique digital “token” to represent a unique real-world asset. In the same way a title to home or a vehicles represents that asset, however, NFT provide a lot more functionality than a title. An NFT can contain smart contracts, that is, code that gets executed when certain conditions are met. For example, when this token is sold, give the creator 10% of the sale proceeds. In this context, NFTs can fundamentally change the way commerce is conducted.

However, NFTs can do much more than that. Let’s think about the impact of NFTs in the context of how each function of a simple value chain. Create, make and sell. Create includes research, development and design. Make includes supply chain management and manufacturing. And Sell includes marketing, sales, and payments.

How will NFT’s disrupt sales and marketing?

Personalization and Customization: NFTs can be used to create and track unique, personalized experiences for customers, enabling brands to build deeper and more meaningful relationships with their audiences.

Data-Driven Marketing: NFTs can provide access to valuable data about consumer behavior and preferences, enabling marketers to create more effective and targeted campaigns.

Decentralized Marketing: NFTs can facilitate decentralized marketing, enabling brands to engage with customers directly and bypass intermediaries such as advertising networks.

Direct Sales: NFTs can be used to facilitate direct sales between buyers and sellers, reducing the need for intermediaries and lowering costs for both parties.

Secondary Markets: NFTs can be used to create new secondary markets for digital and physical products, providing greater liquidity and enabling customers to more easily trade and sell products they own.

NFT’s will not only disrupt the way we sell, but also the way we buy.

Decentralized Payments: NFTs can be used to facilitate decentralized payments, enabling consumers to access financial services directly and bypass intermediaries such as banks and credit card companies. This could reduce the need for credit cards and change the traditional payment landscape.

Tokenized Payments: NFTs can be used to represent tokenized payments, providing greater transparency in payment transactions and enabling customers to more easily track the movement of funds. This could reduce the need for credit cards and change the traditional payment landscape.

Payment Transparency: NFTs can provide greater transparency in payment transactions, making it easier for consumers to track the movement of funds and reduce the risk of fraud and errors.

Asset-Backed Payments: NFTs can be used to represent assets such as real estate, art, and collectibles, making it easier to use these assets as collateral for loans or other types of financing.

Tokenized Rewards and Incentives: NFTs can be used to represent rewards and incentives, such as loyalty points, enabling consumers to more easily track and redeem these benefits.

Credit Card Fees: NFTs can enable consumers to make payments without the need for intermediaries, which could reduce fees associated with traditional credit card transactions.

WeMint is a full service NFT minting and consulting service.

Please contact us at info@wemint.com if you have needs described in this article.