We aren't talking about abandoning everything you have to jump into an NFT space but rather figuring out how you can incorporate an NFT to build and scale what you have.Īdditionally, while Web 2.0 has trained everyone to build and scale large audiences-mostly because those platforms performed best with larger audiences-NFTs give you the power to scale your access instead. This means you'll first need to create your community, events, courses-anything you plan on using the NFTs to grant access to. You still have to determine and create the value that will be served by the tech. It's important to remember that an NFT is just the tech-it's not the experience itself. As the value of that community rises, it brings them up right along with it. The more they spread the word about your content and your community, the more they get out of it as well. This means that there are use cases that haven't even been discovered or attempted yet.Īnd because NFTs give your audience ownership of their own community, they become more than mere advocates or affiliates. It's also still early days in the NFT space so we're sitting on the very beginning of what's possible. They become co-creators who help raise the value of your content and access to that content. Your audience members are no longer spectators of your content or ticket holders to your event. So, in a very real way, by expanding your community to run through NFTs, you're also empowering your community to create itself and build on its own value. They're a way to provide even more value to the community you're working so hard to build. NFTs empower your audience to buy into the community that you're trying to create around your business. The key point is don't jump in blind to creating an NFT because you're intrigued by the tech without having a strategy for what it will bring to your audience and your business strategy overall. Anyone who owns the NFT will always get a complimentary ticket to the event and access to every VIP party. For example, you might offer a limited number of never-ending tickets to your event. The key is to think about how you can bring more value to your audience and then build a strategy around that offering. There are several ways you can incorporate NFTs into your existing business strategy. Businesses can sell sponsorships and advertising as NFTs, affiliate partnerships, event access, loyalty programs, and more. The business applications for NFTs continue to inspire brands and business owners as their potential is revealed. NFTs really started gaining attention as they were used for collectible art but that was just the start. Why Your Business Should Consider Creating NFTs for Access For more about Joe, scroll to Other Notes From This Episode at the end of this article. This article was co-created by Joe Pulizzi and Michael Stelzner. In this article, you'll discover a creative use case for using NFTs for access to events and special offers. Are you considering creating non-fungible tokens (NFTs)? Looking for creative business examples that go beyond digital art?
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