As Web3 is taking over the world with its blockchain technology, industries and media have to evolve with it and marketing is not an exception. Businesses, brands and content creators are turning to NFT influencer marketing as the trending strategy to pursue their objectives.
Concepts like decentralization, tokens and cryptocurrency are becoming more popular within the days and if brands and creators want to stay relevant they would have to get involved with related subjects like NFT influencer marketing.
Among the Web3 characteristics, NFTs have gained a large popularity and this turns them into a priority for brands because these digital assets bring a variety of possibilities, from generating revenue to building engagement and brand awareness.
This way, integrating NFTs into influencer marketing means you get the best of both worlds. Influencer marketing is excellent for generating organic engagement and growth, while NFTs not only boost these aspects but also add a uniqueness and collectible factor.
Before exploring the benefits and possibilities of NFT influencer marketing, we will have a look at the differences between traditional influencer marketing and NFT influencer marketing.
Let's get to it!
Influencer Marketing and NFT Influencer Marketing comparison
Common aspects among traditional and NFT influencer marketing
Influencer marketing found its way thanks to social media. In brief, it involves a partnership between a brand and an influencer in order to market one of their products or services. This is a common aspect in both traditional and NFT influencer marketing.
The role of an ‘influencer’ or ‘content creator’ was originated thanks to social platforms. Later on, marketing saw an opportunity for brands in the large and engaged audiences these influencers had built.
Since these communities were very engaged with the content posted by influencers, their product endorsements and recommendations were naturally accepted. These content creators are influential in many industries, no matter if it's NFT related or an analog product, for example.
Differences between traditional and NFT influencer marketing
When it comes to NFT influencer marketing, Web3 expands the possibilities. First of all, businesses and content creators can collaborate to build up unique NFT experiences, boosting their income, building brand awareness and even reaching new audiences who are interested in blockchain technology.
Another particular aspect about NFT influencer marketing is the role of the content creators. NFT influencers can have an impact in the real world by affecting the worth of a cryptocurrency with their opinions and recommendations.
This doesn’t necessarily mean that NFT influencers are the only ones who can get involved with NFT influencer marketing. In fact, this type of marketing is not exclusive to NFT brands, projects or content creators, as anyone can get involved with it.
While some of them are specialized in crypto and NFTs, many others are influencers/brands from different areas and can look out for aNFT partner or specialized agency.
Marketing trends have evolved within the years and NFT influencer marketing brings to the table new features and strategies but is not replacing influencer marketing, as they are very related.
How NFT influencer marketing benefits brands and content creators
Far from being a threat to partnerships between brands and creators, NFTs improve these collaborations and bring new and innovative possibilities.
From the business perspective, implementing NFTs strategies allows brands to reduce their upfront investment and generate profit from NFT sales. The current circumstances have shown us people are willing to pay significant amounts of money for an NFT.
Traceability is another factor that benefits brands when implementing NFT influencer marketing. Thanks to blockchain technology, brands will be able to track the impact of NFTs in their marketing strategy.
Content creators also find new and attractive opportunities. Thanks to the unique value of these tokens and the possibility to track them, influencers can earn copyright royalties every time their NFT is generating income, and not just at the beginning of the campaign.
Even though influencer and traditional marketing campaigns tend to pay an amount for the usage of their image, it is not that easy for creators to know how much brands are promoting the collaboration and how much money they are making out of it. With NFTs, all of these could be tracked and influencers could earn copyright royalties.
No doubt, NFT influencer marketing benefits brands and content creators in appealing ways. This will also favor the relationship with audiences, as they will find innovative experiences inviting them to engage.
The possibilities of NFT influencer marketing
Now that we have mentioned the benefits of NFT influencer marketing, let’s talk about concrete ways of implementing it.
First of all, businesses and creators can convert existing content to NFTs and monetize it. Just as Twitter's former CEO sold his first tweet as an NFT, for instance: creators could sell the NFT of that viral video that got them famous.
Like owning a piece of art, people enjoy the fact of being the authentic owners of something. If it is a video or image -or any other digital asset- that made history online, the hype will be bigger.
Brands and influencers can also build partnerships and create NFTs from scratch. Here are some of theNFT influencer marketing possibilities:
-Launch an NFT series collection: besides purchasing a limited edition asset, it can also represent a membership pass that gives access to exclusive content or experiences. The partnership with a creator could also mean exclusive content from the influencer, only accessible to the NFT holders.
An example of this is Budweiser’s NFT Beerfest.
-Integrate NFTs with other services and products: Mark Cuban, theShark Tank’s investor and an NFT advocate, gives us the perfect example of thisNFT influencer marketing strategy. Cuban, owner of the Dallas Mavericks, decided to reward the fans who attended the games physically by giving them a collectible NFT.
Fans didn’t need to purchase the NFT, but it was an innovative way to reward them and get them to engage more with the brand, while introducing them to the NFT world -if they were not there already-.
-Sell an NFT previously owned by an influencer: let’s admit it, Kim Kardashian’s 2022 Met Gala dress wouldn’t have been so controversial if it hadn't been previously worn by Marylin Monroe. The exact same thing can happen to NFTs. Since they can be re-sold many times, brands orNFT projects can add value to the price by partnering with an influencer or celebrity so he/she becomes the owner for a certain period.
Just as auctions of physical products that belonged to celebrities, people can bid for digital assets that were previously owned by one or multiple NFT influencers or celebrities.
-Partner with an influencer who will recommend investing in an NFT: instead of a content creator promoting a product or service, they could influence people to invest in certain NFTs. Let’s remember that NFT and crypto influencers have an impact on the worth of cryptocurrencies, so their suggestions aren’t simply comments.
This NFT influencer marketing strategy can be specially interesting for NFT brands and projects that have non-fungible tokens as their main product, although brands from other industries can use it too in order to gain more visibility.
The strategies listed above are just some of the possibilities NFT influencer marketing brings to businesses and influencers, but we will probably find more opportunities along the way.
Wrapping up NFT influencer marketing
Non-fungible tokens are becoming more relevant with the days and influencer marketing can take advantage of them by integrating them into NFT marketing strategies. NFTs boost the influencers capabilities and bring benefits both to businesses and content creators, while offering new and engaging experiences to the audience.
No matter if you are a content creator or a brand, you should definitely catch up with the NFT craze and start getting involved with NFT influencer marketing in order to stay relevant. The earlier you join, the more possibilities you have to gain media attention and to surprise your audience.