Article

Ariana Martin
Ariana Martin 28 October 2022

You Should Know About NFTs and Public Relations

Non-fungible tokens, or NFTs, have taken the world by storm for the past year or so. Independent artists and creators are getting on board the ship, as well as international brands like McDonald's, Louis Vuitton, Adidas, Mac, and more.

Whether you’re a fan of music, fine art, photography, or memes, you’ll find an NFT to your liking. There’s certainly a possibility to take a business to new heights with the help of these limited digital assets.

But how are NFTs linked to your business's public relations and how can they help you launch a successful PR campaign? Let’s take a closer look.  

All You Need to Know About NFTs

Before you dive deep into the world of NFTs, it’s vital to understand what they entail. After all, it’s important to do research no matter what. This will not only give you valuable insight but also help you understand the best approaches when it comes to implementing NFTs in your PR strategy.

For starters, it’s important to know that these digital assets can be purchased with cryptocurrency, most prominently Ethereum, and not regular currency as we know it. Additionally, NFT collections can be created with anywhere from a handful of digital assets to a few thousands. In any case, the number is limited, and each asset can be owned by only one person.

That allows for certain NFTs, most popularly avatars and digital art, to have a high resale value when there is high demand for ownership. This approach creates a sense of exclusivity among users which is an important consideration for those who are looking for a captivating angle to market their NFTs from. 

How to Implement NFTs in Your PR Strategy

Knowledge of NFTs can be a major asset for the brand or individual you are representing, whether you opt to create your own NFTs or simply tap into the community. Here are a few key ways that utilizing NFTs can help you navigate the needs of the modern viewer and consumer:

Increase Brand/Business Owner Exposure

When you utilize NFTs, you immediately become a part of a new community that engages in the same interests. That lets you tap into a brand new crowd of people that can potentially be interested in what you do.

For that reason, immersing yourself in the world of the Metaverse, Web3, and NFTs can help you expand your scope when it comes to brand exposure. The best part is that you can expand your audience in several different directions.

Social media is a given platform, but don’t forget about places where NFT enthusiasts gather most. Those are typically platforms like Discord and auction house websites like Opense, where the majority of trading and nft marketing takes place.

The only thing to keep in mind is that you need to determine whether or not the needs and preferences of this new audience align with what your brand has to offer. 

Launch your Next Best PR Campaign

Developing and launching your own collection of NFTs can offer immense benefits. Aside from simply generating sales when marketed well enough, NFTs are an innovative way to approach traditional PR campaigns.

For example, if you hold regular fundraisers, you can switch the format to gathering donations with NFT sales instead. Release a limited collection and boast about the exclusivity to draw in loyal clients. Give away NFT prizes at a product launch, and so on. This way, you can expect to achieve PR wins through campaigns and PR plans where NFTs and Web3 are at centre stage. 

Be Equipped for Crisis Management

It’s no secret that PR specialists are vital not only for the high points of a business or individual but also for when issues come to the surface, such as miscommunication, scandals, and more.

When you know all the ins and outs of this new phenomenon, you have a greater chance of keeping issues at bay because you know what you’re up against. There’s never any harm in having knowledge about newly emerging trends.

When faced with a PR nightmare that revolves around Web3, you’ll know exactly how to approach it. You can use your newfound knowledge to produce press releases and social media posts whenever the need arises to address an NFT-related issue. 

When you take a closer look, you’ll find that NFTs and the Metaverse are closely tied with PR for businesses and independent business owners alike. The more informed you are about how to adapt to new market trends and demands, the greater success you’ll be able to unlock. 

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
The 3 Most Important Stages In Your Presentation

The 3 Most Important Stages In Your Presentation

If you want to deliver a presentation on a particular topic and you have to prepare yourself for it you should make sure that you go through several very important stages in order to craft a compelling, persuasive and...

Nicky Nikolaev
Nicky Nikolaev 16 February 2016
Read more
The Impact of New Technology on Marketing

The Impact of New Technology on Marketing

Technology has impacted every part of our lives. From household chores to business disciplines and etiquette, there's a gadget or app for it. Marketing has changed dramatically over the years, but what is the...

Alex Lysak
Alex Lysak 22 September 2020
Read more
The Carrot of a Bigger Market is More Powerful Than the Stick of Legal Action in Driving Web Accessibility Investment, New Research Finds

The Carrot of a Bigger Market is More Powerful Than the Stick of Legal Action in Driving Web Accessibility Investment, New Research Finds

Getting web accessibility right is a massive commercial opportunity. The World Health Organization estimates that 1.3bn people worldwide are living with some form of impairment. The benefits of making it easier for...

Michael Nutley
Michael Nutley 30 November 2023
Read more
It’s Time For Brands to Move From Personalised, to Personal

It’s Time For Brands to Move From Personalised, to Personal

At a time when almost every brand is tailoring content and offers to individual customers based on their demographic data, purchase history, and online behaviours, are these personalisation efforts still adding value?...

Shafqat Islam
Shafqat Islam 27 November 2023
Read more
Is Email Dead, Or Are We Just Bored With It?

Is Email Dead, Or Are We Just Bored With It?

In today's digital era dominated by social media, instant messaging, and collaboration tools, one question looms large: Does email still have a role to play? Some argue that it's on life support, while others...

Julia Herd
Julia Herd 22 November 2023
Read more