How Brands are Using NFTS to Create Hype and Boost Engagement

NFTs have taken the world by storm. This has been met with widespread enthusiasm from more than just the global blockchain community but by standard investors, collectors, enthusiasts, and of course, brands and companies.

These digital assets, which are a product of the evolution of blockchain systems and their opportunities, have emerged as the next big thing in several worlds, stretching from the tech industry to the art market to the advertising and marketing space. The fact is that such digital assets are very dynamic and can be utilised to fit many use cases, tell many stories and act as a unique and unreputable store of value at the same time. They are so helpful to brands and companies that wish to explore them. Let's discuss this a bit deeper regarding four examples of how well-known global brands have tried to include NFTs in their marketing campaigns.

Acura enters the Metaverse.

The luxury car company Acura jumped straight into the NFT space by showcasing a multitiered promotion for its consumers. It did this by firstly launching a virtual showroom in the popular Metaverse platform - Decentraland allowing users of the virtual world to check out what automobiles they have on offer. In addition, they offered 500 limited edition NFTs for those who reserved a 2023 Integra, a car with a starting price of $30,800. The first 500 pre-orders not only secured their places in line but also received instructions on how to mint their own unique Acura Integra NFT, some of which were sold afterward on NFT marketplaces for as much as 12 ETH -roughly $36,156 (at the time, in 2021).

Coca-Cola features digital swag on Open Sea.

Global soft drinks giant Coca-Cola also jumped straight into the fast-growing Metaverse in 2021 by showcasing a "fast loot" campaign where they auctioned a set of four multi-sensory, friendship-inspired NFTs, which were auctioned over 72 hours through the OpenSea NFT marketplace. The winner of the items can display them within the Decentraland Metaverse platform or trade them for profits. The campaign was not only a massive success for adding exclusive Coca-Cola merchandise into the Metaverse and placing the brand higher than its competitors with regard to its modern-day exposure but also because the set of four NFTs was sold for $575,883.61 in an online sale. The auction winner also received an in-real-life, fully stocked Coca-Cola refrigerator.

Burberry showcases the Sharky B NFT collection.

NFTs are the next big thing not only in the car and beverage industries but also in high-end fashion. Burberry was one of the first major brands to demonstrate this when they teamed up with Mythical Games to produce an NFT collection showcased within Blankos Block Party, a multiplayer game with toys known as "Blankos" that live on the blockchain. The limited-edition NFT Blanko called "Sharky B" was decorated in Burberry's signature monogram print and can be bought and traded within the Blankos Block Party ecosystem. The clever part was when Burberry also released branded in-game NFT accessories for extra fees allowing owners of "Sharky B" NFTs to decorate them with pool shoes, a jetpack, and more. Burberry sold 750 Sharky B NFTs in 30 seconds for $300 each, totalling $375,000. Soon after, they were being traded for up to $1,149. The campaign was a success for Burberry in its efforts to successfully emerge as one of the fashion pioneers in the Metaverse, setting the trend for similar brands like Louis Vuitton to follow suit shortly after.

Hot Wheels launches two series' of cool NFT car collectibles.

Another well-known brand that entered the NFT space in 2021 was the toy car company Hot Wheels, which released digital versions of their cool collectible cars as NFT packs on the WAX blockchain. The initial release saw 97,200 NFTs minted and sold as packs of 4 for $15 each and groups of 10 for $35 each. The campaign sold out and was a success in allowing Hot Wheels to make over $350K in revenue. This led to the launch of the Series 2 campaign in April 2022, which also sold out, allowing the company to generate over $650K in total from both campaigns. The NFTs on sale during both campaigns showcased exciting digital designs of Hot Wheels cars which were randomly split by rarity amongst investors. Since then, the NFTs have gained some traction in online marketplaces but have been less successful than the other examples listed above. In any case, the campaign did its part in raising the brand's awareness and launching Hot Wheels as a player in the blockchain and NFTs space.

As you can see from these examples, NFTs could be a crucial part of the future of marketing by creating hype and boosting engagement, two essential components of any successful marketing campaign. Additionally, they can be used to reward customers or employees for their loyalty or simply as a way to show appreciation. However, most importantly, they can help brands stand out in a crowded marketplace where many companies compete for attention.

In addition to the examples listed, a full selection of brands and companies are starting to explore NFT technologies in their marketing campaigns. However, many do not know where to start at the same time. This is where we at MintKnight can provide your brand with a seamless journey into the NFT market through our platform that is geared towards assisting you in launching an NFT campaign without technical expertise. We can help you develop your NFT campaigns, distribute them on platforms like OpenSea and Rarible, simplify social airdrop competitions, social media campaigns, and whitelisting, and plan and execute your pre-sales. Do not hesitate to contact us for more information about how we may assist you or talk about how your brand can benefit from NFTs.