The real value of NFT for business is that this technology allows for creating a one-of-a-kind asset. This fact enables your business to provide a unique customer experience and offerings to audiences. NFTs’ versatility allows you to create literally anything you can imagine. Music, images, videos, digital real estate, virtual worlds, and many other things that can be delivered to your audience. NFTs became a brand new tool to create unique selling propositions, increase customer engagement, and develop storytelling.

From the marketing point of view, non-fungible tokens enable you to:

• Increase brand loyalty and brand awareness
• Engage customers and create interest in your product
• Provide individual customer experience

For example, Taco Bell, to stay on top of the latest trends, launched digital Tacos via Rarible. These were basically taco-themed GIFs called “NFTacoBells”. 25 NFTs were sold within 30 minutes from the start of sales with a maximum bid reaching $3,646. Of course, this sum sounds funny for such a giant as Taco Bell. However, this campaign helps Taco Bell to show that they are on the same wave with their clients, drive brand awareness, and maintain the brand’s NFT media presence.

However, marketing isn’t the only niche where NFT services can be useful. Tokenizing sports events or concert tickets may have a positive impact on an event niche. NFT verified tickets can’t be resold, meaning profiteers will stop buying all tickets online to sell them five times more expensive around concert halls.

NFT services could be useful not only for virtual estate but for physical real estate too. Today, this niche is filled with bureaucracy and various intermediaries ranging from estate agents to lawyers. A transition to smart contracts could solve the problems of layering facilitators. All history of rights and ownership can be stored on the blockchain to simplify sales processes.