NFTs are a new technology and have only been fully utilized for art so far. There are plenty of other use-cases for such a versatile technology, however, and many of them can help your business in a magnitude of ways.
NFTs can give your company or small business an edge over the competition. We believe that NFT technology is the future, so the sooner you start utilizing this fantastic tech, the sooner you can reap the benefits.
But how can you use NFTs to grow your business? Well, we asked this exact question to Joe Jedlowski. Joe Jedlowski is an entrepreneur and has experience owning multiple successful businesses.
He has also recently dipped his toes into the world of NFTs and has never looked back. Here’s how he has used NFTs and how he suggests businesses utilize the technology.
The reason artists and art collectors like using NFTs are because they create a unique digital version of their art. Traditional files can be copied across the internet, and it is impossible to know who owns the original.
With NFTs, the owner will always be known, and there will only be one token available. This makes digital items just as valuable as real-world objects. For this very reason, Joe Jedlowski expects to see many businesses start selling their digital products as NFTs in the near future.
Companies like Nike, WWE, and Coca-Cola have already tested out NFT marketing and have had a lot of success. There are opportunities available to companies that are only available for those willing to dive into NFTs.
For example, developers have created digital experiences or games. Companies like Coca-Cola have created unique items and clothing for these digital experiences that customers can purchase and show off.
Marketers are now using NFTs and blockchain technology for identity, branding, and engagement. And Joe Jedlowski believes this is just the tip of the iceberg as far as digital product placement via NFTs is concerned.
Minting NFTs and auctioning them off for a fundraiser is one of the most popular use-cases for the technology. This strategy is a great way to give back to the community while taking advantage of something fun and innovative.
It’s also a great way to expand a customer base and bring in NFT collectors. NFT technology is still very new, so the novelty alone is enough to bring in new customers, especially if their proceeds will go to charity.
Nike has launched a campaign in which some of their sneakers will be paired with an NFT equivalent online. Customers have seemed to take quite a liking to this strategy. There’s no surprise either, considering how popular sneaker collecting is.
It only makes sense that digital sneaker collecting would be just as popular. Offering an NFT with products is a great way to boost sales and give back to the customers.
Finally, blockchain technology is one of the most secure entities online. Businesses can host entire websites via blockchain, which makes them virtually unhackable.
The security offered by NFTs is also perfect for businesses that handle sensitive documents. Banks, insurance agencies, real-estate agencies are all prime examples. Joe Jedlowski is echoing what NFT experts are saying, that tokenizing sensitive documents is a great way to ensure that they are secured and will remain safe forever.