– NFTs have significant potential in the market and require creation, distribution, and utility.
– Large brands shifting to direct-to-consumer (DTC) models will combine NFTs with purchases through their apps and websites, leading to profit gains and fostering virality and community.
– Smaller brands can join communities and create mini marketplaces through coordinated NFT access, while NFTs have the potential to replace discount codes and redefine loyalty.Explore the integration of NFTs into your brand’s app and website to increase profits, foster community engagement, and redefine loyalty programs.I’ve been following the NFT market for a while, and it’s bigger than people think. It requires three things: Creation, Distribution, and Utility. There are hurdles to adoption, but you can’t fight the future. Digital wallets have come a long way to the point where the last time I was in Australia, I didn’t use a card, just Apple Pay everywhere.
Here are a few predictions:
1. Large brands that are pivoting to DTC will combine NFTs with purchases only when you buy directly through their apps and websites. Why? It’s an instant 20-30% profit gain that costs a few cents per purchase and breeds virality and community. NFTs will be used for digital avatars, so you’ll be dressing your online persona while you shop for yourself.
2. Smaller brands will be able to join communities of other like brands and provide shared access across multiple websites. If coordinated correctly, you can build mini marketplaces where just by virtue of having an NFT, you gain access. Limited edition drops will be gated by NFTs.
3. NFTs have the potential to replace discount codes and have people rethink what loyalty looks like. No more rewards accounts, you can just sell your NFT to someone else if you’re done with a brand. This will touch all industries.
Stay tuned for Q2 2022. #web3 #nfts #ecommerce #marketinghttps://www.linkedin.com/in/jivanco