NFT marketing is a reality.

When it comes to learning about the concept of NFT, at first it might be a bit disconcerting. The idea of ​​buying thousands of dollars to own a JPG that we could download to our computer and reproduce thousands of times for free, is a common and unattractive reduction in the value of a Non Fungible Token. Perhaps it is even a kind of counter argument created with the intention of curbing the overwhelming advance and the “collateral” effects that this new industry is shaping up to have around the world, especially in terms of marketing.

The idea that investing in NFT is an unprofitable, idle activity or that it is even based entirely on speculation, is a prejudice that is gradually being dismantled; eventually big brands around the world, have discovered that in the NFT is an extremely powerful Corporate Marketing arm.

We already know that the basic principle of NFTs is the absolute possession of all kinds of assets. Like a collector of sacred art, or collectibles, NFTs are digital properties that in many cases are linked to some tangible good, such as real estate, subscriptions, access to exclusive places and events, with a clear transition purpose: Connect the real world with the digital one, and that somehow the nature of NFTs will be easier to understand.

And it is precisely in this transition process, where NFTs are being highly profitable and are supporting powerful corporate marketing campaigns around the world. Brands such as Pringles, Campbell’s, Taco Bell, Coca Cola, etc. They have joined this new trend that not in all cases has had the expected results.

Regardless of the end result, these brands are pioneers of NFT Marketing, and it is thanks to them that little by little we know how it works and how to integrate NFT’s into a “real world” brand. Without a doubt, in the same way that happened with social networks 20 years ago, in the world of marketing, sooner or later all brands will be part of the World of NFTs.

Some factors to consider before launching an NFT collection

Starting with good results, an iconic brand in NFT Marketing is Coca Cola. On the occasion of the 50th friendship day commemoration, on July 30, the company launched an NFT collection where it auctioned off NFT loot boxes created by the 3D avatar brand Tafi. The set includes digital clothing that can be worn on Decentraland, a decentralized open access 3D virtual reality platform hosted on the Ethereum blockchain. Coca-Cola also included an actual refrigerator filled with Coca-Cola.

This is such an exciting space, because it’s so new and we feel like there’s something great about not knowing exactly what would be in the loot box. It provided a way to bring the idea of ​​friendship to life, with each of the different components as a unique expression.”

Josh Schwarber, Senior Director of Global Digital Design, Coca-Cola

With this NFT auction alone, Coca-Cola obtained the equivalent of more than half a million dollars and a monstrous brand exposure, and that clearly reinforces the cultural might of Coca-Cola even in the “metaverse”. One last important piece of information is that the money that Coca Cola obtained from this express operation was donated in its entirety to the Special Olympics, of course the brand made sure everyone knew about it.

This strategy, based on a first experiment for Coca-Cola, had everything any brand could look for and learn from an NFT marketing campaign.

Del otro lado de la moneda, estar dentro del ecosistema, no es una garantía de éxito, como muestra el caso de la WWE, una empresa de lucha libre experta en su sector, de la que podría esperarse la misma destreza en el mundo digital. Cuando WWE lanzó su campaña de NFT con 500 piezas, sólo logró vender 37. La venta de estas piezas incluía además una caja de mercancía de la WWE seleccionada por John Cena. ¿Qué falló ahí?

Undoubtedly, the integration of NFT to Marketing campaigns is a powerful tool with a high potential for profitability, however, being a relatively new sector, the implementation of a successful marketing strategy depends largely on experimentation, testing and error. It is very clear that the Coca – Cola example was only a small-scale experiment, in contrast to WWE who seemed rather to bet too much on something that must have been a first approach.

As marketing evolved from the irruption of social networks, and that brands came to realize that the “emotional” element is always the differentiator between success and irrelevance, NFTs should not be considered by companies as products endorsed to them, but as virtual loyalty extensions, engagement vehicles. Of course, the NFT’s are a product, but something that is already well known is that nowadays: nobody sells trying to sell.