International communications agency VOK DAMS has published a White Paper summarising the use of Non-Fungible Tokens (NFTs) for events and live marketing. Boost your Live-Marketing with NFTs highlights how NFTs are on the rise and why they should be leveraged in the events industry.
NFTs are the combination of digital assets, such as audio, image or video files, and forms of cryptocurrencies. The British Broadcasting Corporation (BBC) describes NFTs as “‘one-of-a-kind’ assets in the digital world that can be bought and sold like any other piece of property, but which have no tangible form of their own.”
In this White Paper, experts in events and live-marketing at VOK DAMS explain the great potential for live-marketing integration of NFTs, to offer clients another digital path for brand experience.
Events are shifting into the hybrid space. The individual experience and the personal approach to target groups are becoming increasingly relevant. They create the opportunity to let customers participate in the brand in a completely new and unique way. Below is a summary some of the cases explored in the White Paper:
Award ceremonies are increasingly taking place in hybrid form, with the physical and digital event experience merged and becoming more and more personalised. In such hybrid settings award winners can be provided with an individual, digital version of awards.
NFTs as access cards for events
NFTs can also be used as a new and individual way of accessing an event. They make admission cards for events more functional and unique. They make it possible to attract innovation-driven customers, convey exclusivity and can become popular collector’s items. Since all tickets are stored transparently on the blockchain, it is possible to analyse transactions of the tickets issued and the knowledge gained can be used for future marketing purposes.
Colja Dams, CEO of VOK DAMS, tells EW: “NFTs fit perfectly into the current all digital/always online zeitgeist. In a world that has taken a giant step in digitisation in just one year and in which most people’s reality is more online and virtual than ever, NFTs are an almost logical consequence.
“NFTs primarily appeal to fans and collectors, i.e. people who are enthusiastic about certificates of authenticity. They create the opportunity to let customers participate in the brand in a completely new way. The fandom is being strengthened or rebuilt. The brand experience finds a new, strong digital path that is ideally used in addition to any live-marketing campaign.”
While the White Paper emphasises how NFTs are still in their infancy, they will be increasingly used as a matter of course in marketing in the future. It is stated throughout that, for companies who rely on innovation, exclusivity and the luxury of their products, NFTs will be and are crucial to supplementing their marketing strategy as we progress deeper
into the digital age.