A growing number of businesses are drawn to NFT technology because of the range of services and solutions it offers, as well as the considerable income it generates. Artists, influencers, and other creators can make lots of money by selling their work as digital assets.
NFT services actually help a wide range of people beyond artists. As the need for NFTs has grown, so has the number of NFT businesses, organizations, and applications.
The primary benefit of NFTs in the marketplace is that they allow for the production of unique items. By leveraging NFT technology, your company can provide one-of-a-kind customer experiences and services. Thanks to the adaptability of NFTs, almost anything is possible.
By adopting the use of NFTs, you can offer your target audience music, photographs, films, digital real estate, and virtual worlds, among other things. NFTs are an innovative method of brand creation, creating unique selling propositions and increasing client loyalty.
A Non-Fungible Token can be used for the following purposes:
- Increasing brand awareness and customer loyalty.
- Building long-term interest in your brand and its products.
- Personalizing the customer experience to improve it.
As a result of the high learning curve, the NFT sector is still taking off as people discover new applications for the technology. We have produced a list of ten concepts that might take off in 2022.
1. Create a private label NFT service for your company
White-labeling is the practice of substituting a manufacturer’s brand name and emblem for those of a retailer. Similar techniques can benefit NFT products and services. You do not have to start from scratch when using NFT services since they offer plug-and-play white-label capabilities. You will have a long-term competitive advantage in this business if you use a worldwide NFT platform such as Shopify. With Shopify, you can provide services to both corporations and consumers.
2. Create NFT souvenirs as part of experiential marketing
NFT services are beneficial for limited-edition collectibles. Celebrities, athletes, and other well-known public figures utilize this method to create and market collector cards. NFT cards were first popularized by hockey legend Wayne Gretzky, “The Great One” who brought them to the general public. In order to differentiate the cards, only 5,000 copies of the $12 entry-level card and 12 copies of the $1,500 premium card were made. In an instant, all of the cards had been bought by fans.
Any piece of digital art can be a collectible. For example, you can trade digital goods on the Ethereum-powered marketplace Opensea.io. People are selling NFTs in many forms, from custom logos to computerized footwear. The only thing standing in the way of producing something great is your own creativity.
3. Create an NFT marketplace for your organization
Building your own NFT marketplace can give you an independent place where you can sell your NFTs to the public. Having your own marketplace also makes it easy to host NFT auctions and – in doing so – generate publicity for your digital assets. It is possible to carry out a wide range of tasks using non-fungible tokens on a good marketplace. All major NFT markets employ the fundamental auction method. Over time, they develop a strong presence in established regions. A standard marketplace will deduct a set amount from each NFT retail transaction.
Every marketplace requires the presence of product storefronts as well as an easy-to-use search engine. In order to build an effective NFT marketplace, you must provide a user-friendly interface, and properly check any digital assets before you upload them. Since NFT art is becoming more popular, launching your own NFT marketplace is an intelligent business concept for the near future.
4. Develop an online course for NFT technology
Regardless of how many people are interested in NFT services, the cost of utilizing them can be prohibitively expensive, especially if you don’t understand exactly how they work. Knowing how to use NFT technology puts you in a position where you can develop an online course and share your knowledge with others.
Take a peek at Udemy’s most popular course to discover how interested people are in NFTs. There is a total of three hours and forty minutes of instruction. It has divided into 39 separate parts. 1250 people took part in the program within the space of a few months.
A note on producing educational content for your NFTs
You can also use online courses as part of a bigger content marketing strategy. When you create small pieces of educational content, the benefits are two-fold. First, you can educate the general public about what is still a complex space. Secondly, you can use this content to promote your brand. f you display your abilities, then people will flock to you. What’s more, once people trust you to teach them about NFTs, they are more likely to buy your NFTs. You can develop a YouTube channel, provide courses, and advertise yourself as an industry influencer after establishing a following for your own company. NFT services open up a whole new universe of possibilities.
5. Create an NFT cryptocurrency account
Creating NFT coins is yet another NFT marketing strategy that requires a great degree of knowledge on your part. Crypto protocols tailored to non-transactional businesses, such as video games, art, and other such industries, are becoming increasingly popular. For example, the price of an AXS coin has risen from zero to seventy dollars in less than a year. In Axie Infinite, an NFT-based online game, AXS money is used to purchase in-game animals. AXS is a cryptocurrency inspired by video games, but it has also proven to be a consistent source of cash for the protocol’s creators.
The most challenging components of this company model are finding a niche, providing value, and keeping clients engaged. If your currency has significant application, a simple “NFT” prefix will not help it acquire traction. Given that the NFT industry is so competitive, you will need to do your research and determine which customer issues your protocol can address.
6. Create a lending platform that focuses on unconventional types of borrowing
DeFi lending businesses are similar to pawn shops due to the non-fungible nature of the tokens. Due to the convergence of these technologies, decentralized lending systems can now take non-fungible assets as collateral. For example, consider the ETNA Network. The developers claim to be working hard to improve NFT performance. Borrowers who are not interested in traditional cryptocurrencies may acquire a loan while diversifying their assets and offering non-fungible tokens as collateral.
Development asset holders can benefit considerably from an NFT financing platform. Due to their present financial predicament and lack of liquidity, NFT owners may have trouble securing short-term funding. You will draw more people to your website if you mix non-fungible tokens with loans.
7. Offer NFT brokerage services to get expertise in the financial services industry
The value of NFT assets, like those of other cryptocurrencies, varies dramatically, and this is an advantage for brokers. Unlike cryptocurrencies, NFTs are one-of-a-kind. As a result, it is wise to monitor stock prices and stay up to date on cryptocurrency news at this time. By offering to do this for people who are too busy to keep their ears to the ground all the time, you will be providing a valuable service to the community.
If you are thinking about getting into NFT trading, think of it as a long-term investment. Antique dealers often expect the items they collect to increase in value over time. The same may be said about non-fungible assets. Expert brokers understand when to buy hot properties, properly market them, and when to put them for sale.
8. Build your own virtual reality experience
NFT services allow you to do much more than build a platform. You have the power to alter the course of human history by creating experiences that are out of this world. Virtual worlds are now prospering. You can create your own virtual world in order to connect with the rest of the NFT community and draw people to your brand. Furthermore, creating virtual worlds can be a very profitable business model in the actual world.
9. Become an NFT artist
This is one of the first business models that comes to mind when thinking about NFTs. If you have design or creative talent and you want to try your hand at NFT art, you can actually make a decent amount of money doing this. We must warn you that the market is quite competitive, and not all assets are worth thousands of dollars. Nevertheless, clients exist for all commodities. If you are confident in your talents, you can make and sell artwork or other digital items on OpenSea, Rarible, Atomic Hub, or SuperRare to earn NFT.
10. Design wearable NFTs
Wearing gadgets that highlight your NFT might sound weird at first, but wearable NFTs are likely to become a major fashion trend in the near future. Thanks to a talented young jeweler, Apple Watches can now be customized to reflect the wearer’s unique non-fungible values. NFT technology has also been used to create unique necklaces and rings by other brands.
You can use NFT wearables in many creative ways. The NFT wearable industry is virtually untouched, which presents opportunities for new entrants. Keychains and other little accessories are popular among a broad range of individuals for several reasons.
These one-of-a-kind use cases are relevant for brands that are just entering the NFT space and want to stand out from other NFT developers.
Customers desire NFT services, but they are hard to come by.
Since the NFT space is still growing, there are lots of possibilities open to a brand looking to connect with a target audience. Since people are adopting the use of NFT technology for a broad range of applications, learning to use non-fungible tokens now will give your brand a promising future.
As more individuals and organizations adopt the use of NFTs, the future will see an increase in the number of digital artists and celebrities seeking to increase their financial worth while maintaining a memorable online presence.
Do you need help putting your NFT product in front of the right audiences and generating positive media coverage? At Pressfarm, we’ve worked with NFT developers to help create newsworthy content like email pitches, press releases, guest posts, and press kits. Our PR professionals and expert writers can also build customized media lists to help you find your perfect media match. The experts at Pressfarm also come armed with a content distribution strategy that has worked for hundreds of brands across different industries.
By submitting your content to the right media outlets and startup directories, Pressfarm can help your NFT project to rank in relevant search results across various search engines. Additionally, Pressfarm can build custom media lists in addition to offering you access to a comprehensive database of over 1 million journalists across industries. By giving you these media contacts, Pressfarm can help you to continue doing media outreach for up to a year after you’ve signed up.