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NFTs the future of art & investment

Our digital world witnesses new updates every day. These updates didn’t stop with the virtual reality that became an important feature of our present and near future. Even art faces a new wave of digitalization that may change the scene totally. These changes will not affect the artists or people who have different interests in art. In fact, it’s about to change the entire face of investment and marketing too. All of this starts with NFTs. Yes, it’s more than a kind of digital art that may go viral for a period and then disappears. But in the real scene, it’s a new sort of investment rising in our world.

It’s not just a prediction. The scope for NFT art has been growing profoundly in recent times since the $69 million NFT sales in 2021.

What is NFTs?

Non-fungible tokens or NFTs are a new category of unique tokens used for certifying ownership of digital assets. Information about NFTs stays on a blockchain or a shared ledger, under maintenance by thousands of computers worldwide. This explains the unique point of NFT art. Limited ownership is the answer to any question in this field. In other words, you pay to own a unique piece of art that may have a higher price in the future or gets you more benefits that reflect your business. Here, the near consequences appear to change the face of investment in our world.

If you are still confused about how far it can affect, have a look at near cases of NFT art sources that have already made profits at a significant level. The first tweet ever by Twitter CEO Jack Dorsey sold as an NFT for $2.9 million. On the other hand, the NBA has accumulated over $320 million just by selling NFTs of basketball game highlights.

Why NFTs are a promising niche of art?

You can ask what is the difference between the Mona Lisa, for instance, and the NFT art pieces. Even if the Mona Lisa or any paint from Van Gogh art can be more valuable than NFT. On the other hand, anyone can have a high-quality copy of it just with some research on Google or Pinterest. That’s exactly the difference. The ownership of NFT is rare. If you buy an NFT asset right now, you will be sure that you only have that piece of art in the world, and you alone have the right to use it in any format you want.

When an artist creates an NFT artwork, they are basically offering a certificate of authenticity to the buyer. The NFT proves that the associated artwork is owned only by the buyer and no one else.

The other face of NFT art benefits is for the artists themselves. Such prospects could also drive new opportunities for artists who have not been able to gain acceptance or financial profit in the traditional art market. For example, female artists and artists from the African continent can make the most of an NFT art platform to take their work to thousands of interested buyers.

How NFT art reflects to the marketing world?

Some growth marketing experts see that NFTs are doing today what social media did in 2010. It is expected to be one of the most important elements to improve the potential results of the brand awareness campaign and audience engagement with the brand. To prove these expectations, many marketing experts start testing new business goals depending on NFT art. This testing phase includes various marketing goals, from driving brand awareness to increasing customer loyalty and monetizing their user bases.

That is the same reason that direct brands in the current market discover new methods and platforms to keep their audience engaged. The web scene started with E-mail marketing and search engine optimizations, and then social media raised to be closer to interactive customer experience. Till we reached an era of virtual reality experience. This hardens the competition but is still very promising to many brands who know how to leverage every chance to get better results from any new technology.

If your brand is related to a product or service that presents new technologies, it’s a great chance to show your audience how you treat your services and products with cutting-edge technology like NFTs. It’s actually what “Norwegian Cruise Line” did to celebrate the launch of the Norwegian Prima Class, a new class of vessels that reflects how they approach their products and services.

In the new world, everything can be sold. And NFTs offer your brand to sell a unique experience to the customers. For instance, using NFT to market for a limited edition of any product can drive sales with expected high ROI. Remember that customers are always looking for a unique experience, especially for premium products. According to Hubspot, 39% of those who use NFTs say they have the best ROI of any channel in their media mix.

Risks of using NFT art on your marketing strategy

Despite its expected benefits, it’s still foggy to put investments in NFT assets. In addition, it’s a very costly method to go for in your marketing strategy. So, whether this holds value will depend on your brand goals and the customer base. This lets us think more before making such a decision. Hence, you will need to study your current situation in the market and the prospected investment in your field. The next phase is to observe if there is a successful case study near your company field that depends on that technology and has already driven valuable results. 

The most doubtless thing that NFTs are definitely worth keeping an eye on.

The marketing scene has massive options that can drive totally different results for each business. Hence, to put your company in a stable situation with the market changes and updates, you’ll need to rely on a team of experts who know well how to deal with each situation.

If it sparks your interest or do you have further questions? Please contact us for more marketing Services.  

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