Blueprint for Brands & Agencies when looking into the NFT World.

Introduction

The adoption of NFT’s (Non-Fungible-Tokens) within the crypto and digital art world has been a tremendous success. But often than not, NFT’s are still misunderstood by most of the general public, especially brand managers, marketing departments and directors.

When looking at the NFT space from a brand perspective it’s not about how many pieces will there be, for what price they are going to sell etc… It’s about building the community around the brand within the NFT World. Remember, you are NOT targeting you normal audience and the “normal paid” marketing campaign will not work because at the end of the day, you want sell the product but you are not providing any sort of additional value to that product, you are not building the community and loyalty within the possible NFT Space.

ASICS FLOP

Let’s take a look at one of the examples. ASICS Sunrise Red NFT Collection. ASICS announced that on July 15,2021 that their NFT Sneaker Collection will go public and will feature 189 Pieces. Some of them 1/1, some 20 pieces per shoe.

Now you might think from a marketing perspective this is good, they are targeting the Gen-Z and are trying to adapt their brand to the new technologies. Well, it flopped. As of today (September 7th, 2021) the floor price of the ASICS Collection is 0.2ETH with 19.2ETH in volume traded over the past month and a half which is considerably low number in terms of the NFT trades.

The ASICS story is a perfect example of what not to do within the NFT Space. It is a niche market but has a lot of potential in the future. Not only when we are looking at the collectibles or avatars but also within the day to day life of general users.

Not your normal space.

Let me explain this a bit further, NFT is not your normal advertising market. You don’t do paid ads, Facebook and google advertising or similar. Most of the things you know about the marketing to general public fall into the water when looking at the NFT’s.

Co-Founder of RTFKT Studios Benit0 shared a twitter post which perfectly describes the to what I am referring to.

• We only work with the brands and artists we truly like.
• We only work directly with creative director / not the marketing department. No feedback rounds whatsoever.
• Fair Rev share, regardless if big or small.

Consult, Research & Build the Community.

If you as a brand is venturing into the realms of NFT’s do not go into it because of “Quick & Easy Money”. The “shit nft’s” radar is obvious within the community and most of the time people will see that this is not something that will go long-run. If you truly want to in, hire the outside help within the NFT community, build the community and social image around your brand within the metaverse.

There are multiple people within the community such as Farokh.eth , Loopify, artchick.eth as well as companies such as us: Definition8 which could help the agencies as well as brands to build the image upon the metaverse rather than diving straight in without think about the other aspects.

Conclusion

Don’t rush into the NFT space thinking “we can create few images, put them on OpenSea and share them on Instagram / Twitter”. Depending of your social media presence this could create some sales but without the plan and devoted community it will not last long.

JV

CEO & Creative Director of Definition8 & THE D-8.XYZ