Mint Global Marketing: The NFT Basics Every Brand Should Understand

The rise of NFTs cannot be ignored as it has revolutionized the way digital artists and brands can own and sell their work.

For many brands that are curious about NFTs and how they can benefit from adopting them in the near future, we interviewed Mint Global Marketing to give us insight into the world of NFTs and provide essential information to help those seeking to go into NFTs.

Can you give a simple idea of how NFTs work?

An NFT or a non-fungible token, is a digital asset written into the blockchain to show ownership that belongs to a particular person. NFTs are used to represent ownership rights.

They also serve as proof of authenticity that cannot be replicated because they are in the blockchain and whoever owns the token retains the rights to that NFT. Protecting your content from duplicates and assured exclusivity is what makes NFTs valuable.

What makes NFTs different from mediums where brands already sell themselves?

Unlike the conventional platforms and mediums brands have been using to sell themselves, NFTs and the blockchain give content ownership. Through NFTs, brands have crafted a whole new market for themselves, and the possibilities are endless with NFTs compared to the restricted nature of those traditional mediums.

Are there any serious obstacles these brands may face in adopting NFTs?

The experts at Mint Global Marketing have discussed this matter in the past, and we think that the possible challenges that may confront these brands in adopting NFTs include the high hidden fees that come with NFT transactions, called “gas fees.” These fees can impede the brand’s adoption of NFTs if they don’t have the funds.

Unlike the conventional platforms and mediums brands have been using to sell themselves, NFTs and the blockchain give content ownership. Through NFTs, brands have crafted a whole new market for themselves, and the possibilities are endless with NFTs compared to the restricted nature of those traditional mediums.

Are there any serious obstacles these brands may face in adopting NFTs?

The experts at Mint Global Marketing have discussed this matter in the past, and we think that the possible challenges that may confront these brands in adopting NFTs include the high hidden fees that come with NFT transactions, called “gas fees.” These fees can impede the brand’s adoption of NFTs if they don’t have the funds.

Makeup and skincare company L’Oreal partnered up with United Talent Agency to launch its NFT collection, which is centered around initiatives that empower women.

Some brands that have already adopted NFTs are making it big with their brand-themed NFT content. Brands can also engage their customers with other exclusive NFT items and perks because this can help in increasing their customer base.

Many people are convinced that NFT is a bubble that may burst anytime soon; what can you say to dispel hesitation from the minds of brands?

It is pretty normal for hesitation to be present in the minds of individuals and brands alike on whether or not NFTs are here to stay. At the moment, NFTs are part of a multibillion dollars industry that has helped many creators make money.

Asides from the obvious financial benefits, we at Mint Global Marketing believe that NFTs truly create new possibilities in the digital space. It is undeniable that NFTs are changing the game, and they’d be doing that for a long time to come.