How you can utilize NFTs for your business
Updated: May 25, 2022
NFTs, or non-fungible tokens, are digital assets that are unique and cannot be interchanged (this article by Forbes goes more in-depth, so we recommend reading it too). What many business owners don't realize is that they have many potential uses for businesses, from providing ownership rights to digital content to powering loyalty programs. NFTs can also be used to represent physical assets, such as works of art or real estate. If you're curious about how they can benefit your business, we have a few ideas.
Art galleries will never be the same
First off, you can display your pieces in-store for patrons to admire or even buy! This would be a great way to show off your work and attract new customers. You could also set up a virtual gallery where people can browse and purchase your NFTs through virtual platforms. This would give you a chance to reach a wider audience and make extra sales. We also think art galleries could change, with the invention of NFT display frames. Exactly like picture frames, digital art can be shown off in a physical space, such as an art gallery.
If you're looking for a way to showcase your work and attract new buyers, combining the metaverse and NFTs is worth considering.
For example, you can represent items that your brand carries, such as specialty food and drink, clothing, or accessories. This new technology is changing the way we think about ownership and could have a major impact on the economy in the years to come. So far, NFTs have mostly been used to represent digital assets, such as artworks or virtual real estate. However, there is no reason why they couldn't be used to represent physical assets as well. This would open up a whole new world of possibilities for businesses and individuals alike.
Stamp cards are a thing of the past
The future of customer loyalty is on your phone. NFTs can be used to power programs that offer discounts or exclusive access for holding certain mints, replacing stamp cards and rewards cards entirely! For instance: if a consumer holds a certain NFT at any given time they'll receive an incentive like 25% off their purchases. The potential applications for NFTs are endless, and we're
just beginning to scratch the surface of what's possible. So if you're looking for a way to give your customers an extra incentive to stick around, NFTs are worth considering!
The future is already here
One restaurant in Long Beach, CA has combined NFTs and food to create an overwhelming presence with its grand opening on April 9 of this year. Andy Nguyen, owner, and founder of Bored and Hungry told abc7 that he wants people to think of an NFT as more than just a jpeg. It's something you can own that can turn into a brand and even a business- just like he did! The pop-up had a tremendously successful grand opening, which made the owner consider staying longer than the initial 90 days. Business owners should take a page out of Andy's book and consider coming up with a strategy on how to take their business to the next level.
Do you want to be ahead of the curve? Virtual Reality is the future. It's not just for video games & entertainment anymore - it's for marketing too. With this new technology, you can build physical-digital products that users will be able to show off on their VR platforms- free marketing for your brand! Imagine being able to create a virtual version of your products. Not only will this give potential customers a better idea of what your product is, but it will also help increase brand awareness and attract new customers.
Are you looking for someone who can make NFTs and digital strategies? We're always looking for ways to innovate businesses. If you need help with any aspect of your online presence, get in touch with us!