Launched since 2017 by the Ethereum platform, NFTs or non-fungible tokens are constantly expanding around the world thanks to blockchain technology. Moreover, its unfalsifiable and inimitable characters make these digital objects the new playground of the big luxury brands hence the panic of the NFT market in the world.
Understanding the NFT
Given its unchangeable attribute, an NFT therefore looks like something unique. For example, if you are applying for a national identity card or passport, this document remains your exclusive property. No two people hold it. You are the sole owner. In other words, you have your own characteristics that you would never share with other individuals. An NFT also adopts this same strategy, but in a digital way. It then has a unique computerised identification system, unlike a passport or ID card, which remain in a physical state. Thus, the particular aspect of the NFT places it at the centre of attention of the world's major brands. The latter even exercise product placement by involving an influencer agency or an independent influencer. The idea is to make the use of an NFT profitable.
A marketing issue
Because of their non-fungible nature, NFTs currently represent a considerable financial gain. Some influencer agencies in Spain even offer services to build customer loyalty, or to set up a new customer base. The objective is to monetise all the assets of an NFT.
The digital revolution is still going strong and no one can escape it now. For example, some Spanish influencers have exploited NFTs to build new prospect bases for their clients. The task is to target young people. They are still the most attracted to the digital world. Therefore, it is sufficient for brands to issue an NFT that meets their desire while exposing the brand at the same time.
Through an NFT, too, it is quite possible to build customer loyalty. Some brands formulate and issue new non-fungible tokens that allow consumers to win a voucher or free products for example. Usually, the strategy involves the use of a QR code. The latter has been democratised thanks to smartphones.
NFTs and trademarks
The NFT phenomenon has particularly captured the attention of the big brands. Moreover, it offers new sources of revenue for them. As an example, and one of the craziest, the first SMS in history sent by the operator Vodafone was auctioned off as NFT, its value reaching over 100,000 euros. That's a lot of money for a single message. Moreover, big brands associate their reputation with NFTs. So the result is clear: a worldwide reputation combined with an authentic digital object makes the NFT a lever for the value of a product, especially when it is a digital art object.