Though the likes of Bored Apes and Pudgy Penguins take the headlines, and the potential for decentralized finance (DeFi) and play-to-earn gaming is undeniably grand and exciting, the marketing potential for nonfungible tokens (NFTs) deserves equal attention. It boils down to this: With NFTs, virtually anything can be gamified to promote desired marketing outcomes.
Gamification — defined by Gabe Zichermann, author of The Gamification Revolution, as a “process of using game thinking and game dynamics to engage audiences and solve problems” — is not new to sales and marketing. What is new are the mechanisms by which you can engage and motivate prospects and customers. And, gosh, they are exciting. To illustrate the point, here are five example use-cases of NFTs for marketers.
Co-marketing to in-market segments
Let’s say you’re one of the approximately 40 million people in the United States who move each year. As a “new mover,” you are highly coveted by a slew of brands that are keen to meet your highly-predictable needs.
In the past, if Sherwin Williams (paint), Simplisafe (home security), Spectrum (cable), Stanley Black & Decker (hardware), Sony (electronics) and Pottery Barn (furniture) wanted to get together as one to market to you at your time of abundant need, it would be virtually impossible. After all, differing internal systems, an entrenched hesitancy to share data, dissimilar promotional structures and loyalty program designs, overlapping points of distribution and other roadblocks invariably create insurmountable gridlock.
Now, imagine those brands teaming together to create a Move Me NFT or something similar. Consumers purchasing these would create revenue for all the participating brands and put our New Mover into a virtual community where they can tour neighborhoods, attend a house-warming party in the Metaverse with a celebrity, enter to win digital real estate, hang their digital art and, of course, learn about how each brands’ products/services can help them along with an “exclusive…