A Business Approach To NFTs: How To Enhance Customer Engagement By Benzinga – Investing.com UK

Cryptocurrency Jun 15, 2022 22:42

© Reuters. A Business Approach To NFTs: How To Enhance Customer Engagement

By Mirwan Suvarso, the official representative of Mola.

They’ve become famous for their killer price tags and meme imagery, but the truth is NFTs offer all businesses—whether crypto-based or legacy—a valuable avenue for customer engagement.

NFTs offer businesses the opportunity to create digital assets that are highly individualized and customizable, which provide customers with more personalized and engaging experiences.

But how can businesses go about integrating NFTs into their platforms? or even routine operations? What options do they have? Well, let’s take a look at a few examples.

Accelerating Customer Engagement With NFTs In the world of entertainment, video streaming services can now deliver video-on-demand on a subscription basis with increased engagement while only using NFTs.

What might it look like in practice? A company can host an event with all tickets tokenized, as we did. Four hundred sixty-eight attendees enjoyed the sold-out performance of popular British rapper Central Cee—they were also NFT holders.

So, from our deductions, the best way to accelerate NFT adoption for customers is through the use of intuitive platforms that offer the most straightforward route to acquiring an NFT. For instance, a customer could go about buying a digital ticket by following the simple steps of purchasing on OpenSea as displayed on the platform’s website.

In short, purchase instructions should be simple. Your product—including NFT tickets—should have real value, and the price should be reasonable. If everything has been considered, your initiative is likely to succeed.

Methods for Implementing NFTs in Streaming and Sports Apart from NFT ticketing, businesses can also bundle up tokens with additional perks.

For example, when organizing the Central Cee event, we also provided our customers with unlockable perks with each NFT ticket, such as collectible artwork, merchandise, and full membership passes.

The key here is to give customers something extra in exchange for the purchase of NFTs, which can help them become loyal fans and also drive up sales for businesses.

The Growing Trend of NFTs in Entertainment and Sports As seen with the hype around artworks and collectibles, the trend of NFTs in entertainment and sports is only going to grow.

With the benefits businesses can reap from integrating NFTs into their platforms, sports brands are beginning to tap into the power of digital collectibles, with over 20 football clubs in the Premier League looking to launch their own NFTs.

One notable case we worked on was with the top-flight football club Como 1907, which launched its own brand collection.The team’s owner held a digital auction that would grant a variety of benefits, including lifetime season tickets to all Como 1907 matches. The auction proceeds were donated to a charitable organization.

Final Thoughts Overall, businesses that embrace the trend of NFTs stand to gain much from this rapidly growing technology. By tapping into its numerous benefits, companies can boost customer engagement and improve their bottom line through NFT sales.

Whether you work in sports, music, or general entertainment, incorporating non-fungible tokens is a great way to provide more value to your customers while also improving your business. Whether it is through ticketing, offering unlockable perks and benefits, or even launching a collection, the options are endless.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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