Blockchain is a brand new technology widely used in Digital Marketing. Marketers can keep records and provide the highest level of data security which have a direct effect on marketing decision like introducing new products, setting product price, and analyzing future ad campaign.
Benefit’s of Blockchain in Digital Marketing
> Blockchain enhances data transparency and security because all data is recorded here in a decentralized manner.
> It provides the option to target the right audience.
> Blockchain Technology gives consumers a platform to lodge a complaint against companies that reveals their personal contact information to advertisers.
> It enables marketers to gain accurate leads.
> Banking, Financial, Telecom, IT sectors mostly rely on Blockchain technology.
> Big companies like IMB, Walmart investing in Blockchain for maintaining a smooth supply chain management process.
> It provides advertisers a safeguard from ad fraud cases. and ensure authentic ad clicks and impressions.
> Customer can control which ad content they will show.
What is NFT?
NFT is digital assets that represent the real-world object and ownership of a real-world item like art, video clips, music, etc. NFT (Non-Fungible Tokens) technology provides content creators with a platform to monetize their work. Crypto currency is the best example of Blockchain. If something is being NFT means it has been copy written by Blockchain. People often do NFT of any artwork which doesn’t have any copy can earn money. 2020 is the boom year for NFT, its market value crossed $250 million. 5 growing startups making an impact on NFT:
A. COLEXIN- Founded in 2020 and still today this company raised more than 5 million dollars. The goal of COLEXIN is to become the largest Digital Collectable gallery in a niche like Entertainment, Lifestyle, Sports, and Art.
B. VERISART: Founded in 2015 and raised $2.97 million in seed money. VERISART will be closing the series funding round by 2022.
C. SPORES: This start-up company was founded in 2021, located at Hoan Kiem, Vietnam. Its funding raised about $2.3M in early-stage VC. The founder of SPORES believes that crypto will lead to decentralization of ownership and frictionless redistribution o capital.
D. NIFTY’S: Founded in the year 2021, this is a Miami-based start-up company that raised $10 in seed money. NIFTY add a new layer to the digital asset world by combining social media with a two-sided marketplace. NIFTY’S already has over 2 million NFTs.
Kind of Responsibilities that NFT Maintains:
> During the promotion of NFT or another Blockchain strategy, the marketer should let customers inform this technology is using environmentally responsible. A consumer should aware of the impact of carbon emissions released by NFTs and other digital tokens.
> Uniqueness is one of the major advantages of NFT, it is linked with unique data.
> Transferability is another rising benefit of NFT where smart contracts make ownership transfer simply way. There are specific criteria where buyer and seller met before finalizing ownership transfer.
> It can’t be manipulated because it is cryptographically linked and it is saved in a distributed ledger you know the peer-to-peer network entire copies of this will be there is a concept called 51 attack which also not be possible to hack and change specific data.
Tapu Goswami, Founder of Educational Excellence is always searching and researching new technologies like AI marketing automation, NFT, and Blockchain technology. As a blogger, he penned down a blog on: How to Use Blockchain Technology and NFT in Digital Marketing