This PSFK guide explores how tokenization will drive the future of brand-consumer interactions.
Executive Summary
In the past year, NFTs have gone from a loosely understood facet of crypto currency to a standalone technological concept that brands are continuing to explore for these tokens’ ability to increase innovation, evolve customer experiences, facilitate new ideas and reimagine how we buy and sell goods and services. Because of the ability to trace usage and apply smart processes that respond to the ownership and use of them, NFTs have astronomically increased in popularity as brands across the world are experimenting with token technology every day.
Report Overview
In this marketing innovation report, PSFK researchers explore how brands and retailers can leverage NFT, token & ledger technology for customer engagement and advertising & marketing innovation. The analysis will be presented in three stages of maturity when it comes to the use of NFTs to deliver tomorrow’s marketing and advertising solutions:
- Part 1 dives into strategies for NOW where NFTs are currently being explored as tokens of value
- Part 2 looks at the NEXT and the immediate future use of NFTs as a token for access
- Part 3 considers the NEW and a more distant future for NFTs as platforms for new ideas
Ultimately, readers should come away with understanding how NFT-related technology and strategies will power the future of advertising, marketing and all brand engagement.
What You’ll Learn In This Report
- How cryptocurrency is being embraced by brands and retailers
- Why NFTs represent digital identities beyond the digital wallet
- How NFTs are being used as collectibles provide proof of fandom
- Why ledger technology is making brand authenticity and business transparency ‘table stakes’
- How NFTs are being used for exclusivity for owners and mega-fans
- Why loyalty programs will get an upgrade using tokens
- Why co-creating the future of a creator economy
- How NFTs can be used as an effective means of fundraising
- Why token technology will ultimately lead to Improved creator control and equity
What’s In This Report?
Within this NFT Technology report, PSFK iQ researchers present the ways retailers and brands can leverage NFTs as a bridge to deeper consumer experiences.
This report provides:
- 9 strategies to deliver deeper and better consumer experience through NFT technology
- 27 best-in-class examples of how brands and retailers are using NFT technology to align with the desires and expectations of their consumers
- Case studies from Tom Brady, Coinbase, Gap, Snoop Dogg, Lamborghini and more.
- Market statistics and consumer insights into changing behaviors and expectations of the consumer mindset around NFT-driven experiences
During the research for this paper, original Interviews were conducted with the following pioneers and their opinions can be found across this report :
- Melody Hildebrandt, EVP, Engineering and CISO at Fox
- Diana Richter, Head of Marketing & Brand at ConsenSys Mesh
- Valerie Vacante, Director of Strategy, Product Innovation at Merkle
- Louisa St. Pierre, Global Director, Art + Experiential, MA+ Group
- Izadora Yamamoto, Web3 Strategist & Meta Poet at izadorashin.xyz
- Justine Vilgrain, Co-founder of NFT Factory & Braw Haus
- Michael Litman, Senior Director Web3 & NFT, MediaMonks & Collector/Advisor
Who Prepared This Report?
This report was developed by the same PSFK research department that since 2004 has provided trends-led innovation consulting advice to Apple, BMW, Facebook/Meta, Google, Microsoft, Samsung and Volkswagen
Key Topics
The value of crowdfunding has proven a place in web 2 and only continues to grow with the increased adoption of NTFs. It ties back to the notion of community which is so inherent in the successful adoption of NFTs for both brands and the consumers who engage with those brands. People want to feel that they are part of a group, and the same applies to fundraising. Sending money off into the ether doesn’t…
In the future, NFT owners will own more than unique digital goods. They will also be influential in leading product development, instrumental in community discussions on Discord and branded circles such as DAOs and utilizing NFTs and the technology behind them in an array of creative ways.
Fans have always collected rare and unique items, as hobbyists gather products and one-of-a-kind assets from brands, celebrities, sporting memorabilia and more. With NFTs, the rise of collectible goods built for the digital era has increased the value of both physical rare collectors items and created a new cohort of digital collectibles that invoke a cult-like following. Collectible goods have taken on a new meaning with the increased blend between physical and digital, as now…
Featured Examples
ASICS Move To Earn Program Gamifies Fitness With Crypto Rewards
Developed in partnership with web3 lifestyle company STEPN, the Move to Earn initiative from Asics rewards Asics NFT owners with crypto for their step counts.
FOX’s Blockchain Creative Labs Launches Web3-Powered Animated Series
Dan Harmon, the creator behind hit shows Rick and Morty and Community, is producing an innovative animated series set to be curated entirely on the blockchain, called Krapopolis.
Autograph’s Exclusive NFTs Connect Sport Legends & Their Fans
Counting the NFL’s Tom Brady as a co-founder and co-chairman, Autograph’s NFT platform creates bespoke digital collections and experiences featuring some of the world’s most legendary athletes and performers.