NFTs as part of a marketing strategy

Several major players are increasingly embracing the technology behind NFTs. All want to be pioneers of the future, demonstrating that they are forward-thinking. But how are they using NFTs as part of their own marketing strategy?

Capabilities of NFTs

An NFT has several possibilities. Some NFT projects involve purely digital art and others involve a physical product or access to a digital or physical environment. The range of choices is enormous. It is important to note that in the metaverse, every unique aspect is an NFT. From houses to art on the wall to clothing. This allows any company to use NFTs as a marketing element.

Below we look at some cases of international companies that have successfully integrated NFTs as part of their marketing strategy.

Pizza Hut

In 2021, Pizza Hut launched their own NFT as a playful action. In doing so, they are making a clear statement that even a fast food company can make and market NFTs. Pizza Hut sold several pizza slices of different types of pizza, with a limited edition of 8 whole pizzas. The price? Not thousands of dollars, but the same price as a pizza point at Pizza Hut.

The reason for this action is not to sell these NFTs at record amounts, but as part of a marketing strategy to raise brand awareness. Despite the fact that Pizza Hut is already a global phenomenon, this choice is good for the company's image. By investing in NFTs back in May of 2021, it was far ahead of the competition and will forever remain one of the first major companies to enter the NFT market.

Taco Bell

American fast food company Taco Bell also decided to invest in NFTs rather quickly. They created taco-inspired images and GIFs as NFTs for as little as one dollar, but due to high interest, some items even brought in over $3,000.

Unlike Pizza Hut, these NFTs have an underlying value. In fact, everyone with an NFT from Taco Bell also received an electronic gift card worth $500.

GaryVee - VeeFriends

American-Russian GaryVee is one of the world's leading marketing experts. As such, he was one of the first to release an entire NFT collection to support his own brand.

In May 2021, he launched VeeFriends. A collection of different animal-inspired NFTs, each with a particular application. The limited editions give owners access to a private coaching session with him, while the cheaper version gives you access to his Discord channel.

He could also sell coaching sessions in a traditional way, but by using the technology of NFTs, he gets a lot of prestige internationally. So he very deliberately uses these NFTs as part of his marketing campaign.

Dolce & Gabanna

Fashion is an industry where innovation is central. Not surprisingly, this is where NFTs make their appearance. Such is the case with Dolce & Gabbana, which launched their Collezione Genesi, better known as the Genesis Collection, in 2021.

Part of this collection consists of physical clothing that you can just wear. What is special in this collection is that these items are also sold as NFT. Each buyer of the physical garment, hereby receives the same item as NFT for in the metaverse. For this entire NFT collection, you pay a whopping $6 million.

The question of whether Dolce & Gabbana will release multiple digital collections remains unanswered. Using NFTs in their campaign sets clothing brands apart from other fashion houses. Recently, Prada also announced it will launch an NFT collection with Adidas.

Coca-Cola

To celebrate International Friendship Day on July 30, Coca-Cola released a series of 4 NFTs. This series included animated artwork that each has a surprise item. Because of this surprise effect, these NFTs enjoy even more interest. For example, one of these surprises is an exclusive "Coca-Cola Bubble Jacket Wearable," which you can then wear in the metaverse. In addition, each NFT owner also receives a real-life, Coca-Cola-filled refrigerator.

All proceeds worth $575,000 went in full to the Special Olympics. In this way, Coca-Cola not only uses NFTs as part of their marketing strategy, but also contributes to charity. And that, in turn, is an important factor for their image.

NFTs as a fixture in business?

NFTs offer numerous opportunities. The above companies have proven that. Here, companies can choose whether to use these NFTs as promotions or also add user value, such as the consumption vouchers at Taco Bell.

In addition to Collector's items, NFTs are an important part of the company's image. By investing in the future and in the metaverse, they indicate that they are a progressive company. In a relatively short time, large companies have already used NFTs as part of their marketing strategy. With that, it seems that eventually more and more companies will embrace NFTs.