3.5 million in 5 minutes explained
Remember the movie Back to the Future II, when Marty McFly travels to the future and is almost eaten by a holographic shark that lunges from a movie theatre sign? This was what writers for 1989’s blockbuster movie imagined digital advertising might look like in 2015.
Like other futuristic, creative visionaries, what the film makers imagined and set designers built for this film may now be a reality.
The future is now
You’re taking a sunset stroll along the beach and a digital holographic in the form of Matthew McConaughey is suddenly walking by your side. Uh-huh. I can imagine that. Then he turns on his monotoned sultry-talk about buying that new Lincoln you glanced at on Facebook earlier that day, and offers you a way to go for a test drive.
Just as you’re calculating the trade-in on your 2012 Honda, Matthew steps into his holographic Lincoln SUV and drives off into the sunset. The end?
Nope. You’re now left with a highly emotional, targeted, 3-D, digital imprint tattooed on your brain that leaves you with the illogical decision to test-drive a Lincoln Continental. What did you just experience? NFTs (non-fungible tokens) in digital marketing.
The truth is, NFTs are the genesis of future digital marketing, and I believe they are here to stay. A holographic image is just one of the forms an NFT could morph into.
The fine art? of NFTs
There’s a lot of chit chat about NFTs as a form of ‘fine art’ (cringe) collecting. Shockingly, the founder of Twitter, Jack Dorsey, sold his tweet as an NFT for 2.9 million. I don’t know if he’s ever picked up a paint brush in his life, but I heard he’s pretty good with his snap-to-guides.
Essentially, NFTs are digital copyrights for original pieces of digital products. Think of them like Picasso’s paintings. Let’s say he only painted 13 original paintings from his studio and then sold them. There are only 13 originals, but thousands of copies were printed now for a dollar at the Goodwill. The value of the originals skyrocket because it is a simple matter of supply and demand. The same principle applies to NFTs. There are brilliant digital artists that are creating new original works and selling them using NFT technology. One of the top 3 all-time NFT sales by a living artist, Beeple (Michael Joseph Winkelmann), sold for $69 million and some small change. Auctioned at Christie’s, his piece is one of the few I would categorize as art. This is one reason I think these silly little images are here to stay. It’s all about the money honey.
NFTs throughout the universe
Some people think NFTs are hokey and that they are a bubble that will burst like buying real estate on the moon. I happen to think it would be cool to see my flag on the moon.
Anyways, what makes NFTs so powerful and valuable is the specific type of blockchain used in making them. The blockchain encoded in the piece of art makes them irreplaceable. This is a one-of-a-kind virtual property with tangible grit for the online space.
To bring it home, there is even NFT digital art furniture. Collectible and conceptual furniture-art, like a rare Pokémon card. An NFT couch could be part of a collection of other non-fungible works including music, videos, clothing, Taco Bell taco (for reals) and more. You can furnish your home like millions of others who shop at IKEA, or with original pieces created by artists who have devoted their life to their craft.
NFTs will enhance our lives
Companies have been hopping on the NFT train too, selling NFTs in the form of GIFs to raise money for charity and brand awareness. Others are simply creating a unique brand experience for their customers by giving away their NFT products as door prizes or thank you gifts. It increases customer engagement, brand awareness, and leaves customers wanting to return for more of what is the latest digital interaction.
NFT technology is unprecedented. The horizon of NFT digital art is in view and as a professional digital marketer I simply can’t ignore it — I must explore it. NFTs are the catalyst for this generation moving forward. Are you ready to create NFT alternative art that tells your brand story?