How Your Brand Can Create Commercial Value With NFT’s
Supernovas Labs
Web3's Community-Owned NFT Social Network - Active till September 2022.
POV: You're a company, seeing billion dollar brand after billion-dollar brand turn their legacy assets into NFT's, and you're wondering: to tokenize, or not to tokenize?
Yes, your brand should tokenize. Don't make the mistake of thinking of NFT's as just a passing trend. NFT's are the foundation of web3 commerce, and they're absolutely here to stay.
Here's why and how big brands are getting into NFT's, and how you can, too. Read on!
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NFT's, or non-fungible tokens, allow for NFT buyers to interact and connect with brands and community in ways that have never been possible before. The introduction of NFT's into your business can completely transform the future of your brand, and expands how consumers interact with and consume your brand. How?
NFT creators can also benefit from turning into a brand and building a community around their brand as well:
One thing to remember about successfully building a brand in web3: community is key.
How Legacy Assets Benefit From Tokenizing
How Are Brands Tokenizing?
When you hear about brands entering the NFT space, you typically hear of them launching an NFT collection. Currently, the most popularized use case for NFT's is digital collectibles, i.e., fun pieces of art. These art NFT's, and other NFT use cases, are a public signal from brand to the public of their alignment with the modern and innovative infrastructure of NFT's and NFT communities.
What are some other ways your brand can enter the NFT space? Here are a few different NFT types to consider:
What Brands Have Already Gotten Into NFT's?
A few (non-exhaustive) examples:
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Why should my brand get into NFT's?
How can I get my brand into NFT's?
Once you know how and where to start, the rest is easy! Here's where to begin:
Step 1: Start
They say the hardest part of getting started is actually starting, and that is completely true. All you have to do to get started is put one foot in front of the other. Develop a long-term strategy for NFT's within your business, and put together a future roadmap of how you will roll out NFT's and when.
Step 2: Do your first mints
Once you decide upon your strategy and roadmap, you will know how and where you will be minting your NFT's. We advise starting with simple mechanisms and projects that easily serve your target audience.
Step 3: React
After launching your project, gather your feedback and results. Analyze your results, and compare them to the goals you had set for the project. Then, based on your analysis, iterate.
Step 4: Develop
Test. Analyze. Iterate. Repeat. Continue developing your mechanisms and work on attracting a wider audience.
Step 5: Keep building
Keep leveraging the lessons you have learned from initial experiments as well as market developments and build upon your roadmap.
#wagmi
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