In this article, we’ll explore more of these examples, and show you how brands have been using NFTs. What’s the insight?
Let’s explore how NFT has been used by brands as part of their marketing and branding strategy!
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Coachella Music & Arts Festival, the NFT Blooming Flower
Ticket NFTs
Other examples include the Brazilian soccer team Vasco da Gama and the AMC theater chain. Vasco da Gama, a Brazilian soccer team, recently teamed up with Block4, a firm in Brazil that specializes in making NFT memorabilia, to provide NFT tickets for the team’s supporters. In the world of entertainment, the AMC theater company gave away 86,000 NFTs to moviegoers who purchased tickets to see Spider-Man: No Way Home.
Brands and customers gain protection against the sale of counterfeit goods by using NFT and blockchain technology for tickets. By using blockchain, a special code that is issued for each ticket can be readily confirmed by the event’s organizers and even made to be non-transferable and locked for resale. This establishes the validity of the ticket and confirms that it is being sold by an authorized organizer, avoiding ticket fraud and ensuring ticket tracking.
Digital merchandise NFTs
Decentraland, a virtual platform, hosted its debut fashion show in March of last year, ushering in a fully virtual and immersive Fashion Week. At the metaverse fashion week, brands including Dolce & Gabbana, Paco Rabanne, Tommy Hilfiger, and Forever 21 walked the catwalk. The platform increased fan involvement and set new standards for fashion displays and public relations strategies. The event was clearly a success as several NFTs of clothes and accessories from the firms represented in the showcases were sold out.
Exclusive right NFTs
In order to provide its consumers distinctive experiences, the Californian winemaker Robert Mondavi chose to develop the first wine label marketed via NFT in the globe. Only a small number of 1996 bottles can be tracked using blockchain technology and are collectable. Each NFT bottle of wine cost $3,500 and came with a key to unlock a bottle redemption, generating a total profit of $6.9 million.
Fundraising via NFTs
The way MAC Cosmetics raises money for the social movements it supports has evolved. To generate money for groups working to combat HIV/AIDS, they will offer collector NFTs.
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