In the years to 2021 the non-fungible tokens (NFTs) are also becoming an enigma outside of the crypto community. These are certificates that are based on blockchain technology, which among other things ensures that they are secure and distinct. They can be used as digital items. In the year 2021 alone, Opensea NFTs valued at about sixteen million dollars were purchased through the biggest NFT platform. NFTs could still alter the customer experience and loyalty in 2022 . This will be of great significance in the field of marketing and communications. How do they function and why do they get so much attention?

What exactly are NFTs?

NFT refers to Non-Fungible tokens. They are basically digital certificates of ownership for items like music, art, or videos. Similar to cryptocurrencies, they're also traded through the blockchain, and therefore are unique and secure, as each transaction and purchase is stored in the blockchain. Through an NFT creator, they transform digital goods into exclusive and safe forgery-proof items to collect via the blockchain, which includes an electronic certificate of authenticity. The works are given the value that duplicated content is not able to have  deep cleaning services in dubai.

Marketing using NFTs

A growing number of businesses and artists are using NFTs to thank their customers and customers for their loyalty, this is why NFTs are becoming more important in marketing and communications in the context of customer service and customer loyalty. For marketing purposes taking a step into the direction of crypto offers numerous advantages.

1. Media coverage: Being the first to move in the NFP sector, companies are in the news almost every single day. This has a broad-ranging impact on the public relations of the business concerned.
2. Virtual community creation: The purchase of NFTs can also build an online community where companies can connect to their clients. They could also be used as an incentive program for loyalty and customers are able to be informed about their ownership. Nike is one example. It provides NFTs "Nike CryptoKicks" that are primarily targeted at the community of collectors of limited-edition sneakers. Each sneaker also comes with an identity digitally as an NFT. On one hand authenticity of shoes is confirmed, while however an additional community is built, which is an effective way to retain customers for Nike.
3. New Revenue Streams for Revenue: Additionally the revenue stream NFTs bring is not to be missed as well. For instance, the non-profit WWF Germany has published an NFT collection of virtual images of endangered species of animals in the number that the animals are accessible. To accomplish this the WWF collaborated with artists from around the world, who designed images for 10 species of animals. Since November this year, WWF has been auctioning off the images through its online store with Ethereum's eco-friendly sidechain known as Polygon. As of now the WWF has collected more than EUR200,000 from this auction which is then utilized to help protect animals.

NFTs are taking over the world

US rappers such as Snoop Dogg or the German rapper Kool Savas have already sold their NFT works. One of the most sought-after works is a collage made by the electronic artist Beeple that went for a staggering $69 million. Adidas is also now providing its customers with its Limited Edition NFT to purchase.

The evolution of the metaverse can be further observed and is pertinent to NFTs. It offers a new approach for companies to connect with fans and customers, and to give them rewards with loyalty. It is predicted to increase the number of businesses that will be expanding their operations in the Metaverse in 2022. As such, marketing and communication should be aware of this new trend in customer experience as well as customer loyalty.

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