NFTs to build your community

There is a lot of buzz about NFTs but how can a start-up brand use them to build a community?

NFTs, or Non-fungible tokens, are unique digital or collectible assets that are created using the blockchain, with each NFT having its own unique identifier and metadata that distinguishes it from any other. Much like a rare gem is not equivalent to any other rare gem, since it is unique, so too NFTs’ value is frequently determined via auctions or by the creators themselves.

An NFT can be a piece of artwork, music, photography, VR pieces, or a piece of digital clothing that creators can offer as a new income stream. While they may not lead to immediate ROI they can play an important part in supporting the growth of a brand. Using NFTs, a brand can:

• Offer unique brand experiences

• Increase brand awareness and loyalty

• Increase engagement through interaction with followers

• Help to build your sense of community

• Build your brand’s image

• Can be used to support social or charitable causes

• Generate interest in your brand and products