Global News and Digital Insights
for the Consumer Goods Industry

NFTs: what the future holds for brand marketing



The executive creative director of a creative agency Virtue, Morten Grubak, shed light on the significance of NFTs in brand marketing. Coca–Cola sold its branded NFTs for over $575,000, which were created by Virtue but Grubak holds that NFTs might lead to scarcity in digital purchase. NFTs help brands to establish a long term relation with buyers, enabling them to enter into the metaverse space. However, consumers and marketplace would perceive NFTs as a concept for brands only if it offers a digital native experience or a physical connection with the product and services. Despite the environmental concerns and the use of energy-intensive Ethereum cryptocurrency in NFT, brands can collaborate with younger audiences to extend the horizons for NFTs by creating value in decentralised space.

Read more from Thedrum

Share on facebook
Share on twitter
Share on linkedin