To really profit from NFT and metaverse campaigns, brands must look beyond sales of digital assets and towards community
Brands such as NYX, with its Gorjs platform, are ensuring that they offer long-term value to NFT owners
This article was originally published in the Beauty Communities Trend Report. Receive your copy here.
What makes NFT campaigns successful? Early experiments have seen brands venture into the space with ‘one and done’ NFT drops, enabling consumers to buy and resell branded assets.
However according to Alex Manning, Head of Strategy at creative agency Cult, this strategy misses the bigger opportunity.
“I think we all saw the crypto boom, and the way brands leapt on that in quite a manic phase where lots of money was changing hands and brands were starting to see NFTs as essentially a speculation vehicle.
“But this doesn’t really reward the brand loyalists – the people that it’s designed for who would most desire to have that item,” says Manning.
Beauty brands are now starting to move into a new phase where they are looking at ways to build an active and engaged community within the NFT space that people will continue to want to be a part of.
Shiseido’s #AliveWithBeauty campaign is one of the first brands to move into this new direction with an NFT-based community programme.
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