NFTs, the latest marketing gimmick?

You’ve probably heard something about NFTs, or at the very least about the insane amounts of money that people extract from that market.

NFT art as a marketing gimmick

A recent article at AltcoinTrading.NET features an interview with the marketing director of an IT hardware company.

In the article, the marketer explains the company he works for is launching an NFT collectible. The reasons he cites are basically because the company is a loser in its industry: ,,Our marketing has been a disaster for the past ten years…All of our main competitors grew as a result of large contracts, but we are stuck …”

Their CEO did the math and decided he could save his slowly declining business by bringing in big cash from the NFT markets.

Himself a blockchain enthusiast he made a number of smaller flips at Opensea marketplace, eventually figured out the system and made a proper killing. He had purchased an NFT artwork of a monkey for two ETH and sold it for eighty.

So, here we have the typical case all skeptics will rehash for the next five years: A business person is creating “art” collectibles with the purpose to generate cash by selling something he himself deems worthless.

This tactic relies fully on the hype that surrounds NFTs. And here, NFTs are truly a marketing gimmick.

Is there more to NFTs, though? Absolutely.

Instead, take a look at NFT Marketing, because it truly has no comparison. It is not difficult to get a sense of direction in the exciting new niche, though.

What is NFT marketing?

NFT Marketing is a very simple concept that has only recently taken off in the United States.

It makes use of several different types of marketing strategies including social marketing, video marketing, and NFT art curation, which is briefly touched on in the article linked above.

In plain English, this type of marketing strategy revolves around creating an image that your target audience finds appealing.

That sounds simple, doesn’t it?

The problem is that many businesses, both large and small, have adopted this philosophy of marketing without understanding the benefits, or the complete opposite. For instance, many companies try to build an attractive e-shop for their products and then hope that the people visiting the site will buy the product because it looks good. This type of thinking is common, but you shouldn’t fall into it.

Meet the NFT community

For one thing, most products marketed on proprietary NFT e-shops are usually valued at a much higher cost per unit than those that are sold via peer-to-peer marketplaces like Opensea. The art community knows that and sticks to the marketplaces.

This is because NFTs are generally brand new products that have not reached the wider market yet, which means that they are lower in demand. If you do not make the necessary step to get your NFT in front of that audience, you will probably miss out at this stage.

Bottom line

There is an enormous potential in NFT marketing for creative marketers who are not going to rely fully on the hype. After all, hype wears off quickly, but the real, engaged community lasts.

It pays off to do market analysis and build a deeply loyal customer base if you want to make it in marketing NFT collectibles.