Building new digital brand experiences with NFTs

Brands can create completely new user experiences with personalised gifts, vouchers and products that only exist in the digital world. Find out how to use NFTs to create buzz, strengthen customer connections and build a community of advocates.

Question and Answer

What are the pros and cons of having ownership of the NFT versus not having ownership? 
The purpose of ownership is to drive the audience to commit to your brand – by having a stake in your marketing campaign rather than simply being on the receiving end. New audiences want to grow with a brand and be rewarded for their loyalty. NFTs provide a secure way to identify your most valuable customers and allow your brand to distinguish from the competition. In addition, there is also bonus new revenue stream should you decide to go that route. 

How much would it cost minimally to kick off a brand NFT programme? 
There are two main components when costing a NFT program – the number of NFTs you plan to mint and distribute, plus the amount to drive publicity for your program. Currently, Mediacorp & Mintable offer exclusive packages starting from S$30,000 including a dedicated micro site, over $100,000 worth of media value and up to 50 NFTs. We are happy to discuss how best to work within any given budget – reach us for more information. 

What should we know before creating an NFT collection? 

An ideal NFT strategy needs to account for the following: 

• Number of people you look to target – whether it is for mass adoption or an exclusive group. 
• Utility of the NFT – does the NFT have intrinsic value or is it tied to a range of promotional offers and discounts. 
• Delivery of the NFT – how are you going to create a system that makes adopting the NFT interactive, gamified or experiential. e.g., Starbuck Odyssey.
• Investment – since NFT campaigns are about loyalty, trust and rewarding a community of customers for interacting with your brand in a secure and efficient manner. While it’s possible to experiment, it’s best to look at NFT strategies as a long-term plan that evolves with the needs of your customers.