How to Cash in with NFT Influencer MarketingNovember 7th, 2022 by Socially Powerful
Cryptocurrency, NFTs, the metaverse. All words synonymous with the future of marketing.
The NFT (non-fungible token) craze has kickstarted its infiltration into the world of online marketing. Companies of all sizes are leveraging NFT influencers to break into the space. Partnering with these creators gives them a team of crypto experts right at their fingertips and puts them in front of new consumers who are looking for the next big thing.
Whether you have prior NFT knowledge or are a complete novice when it comes to the topic, this guide will cover all bases you need to know to begin your journey with NFT influencer marketing; whether it be as a brand or as an aspiring NFT influencer.
What is an NFT?
An NFT is a one-of-a-kind, or extremely limited digital representation of a real life object. These can be:
– Sports highlights
– Avatars and video game skins
The price of an NFT depends entirely on what a person is willing to pay for it. Where some of the cheapest NFTs can go for just a few pounds, the more expensive ones can go for millions; with the most expensive NFT to ever be sold, going for $91.8million.
Easy so far, right?
Let’s take things up a notch.
NFTs are paid for using cryptocurrency. But what exactly is cryptocurrency, we hear you ask?
Cryptocurrency – or crypto – is virtual currency designed to exchange goods or services and make payments. Hopefully the word Bitcoin springs to mind. Crypto is decentralised and free from third-party interference, meaning it can never be issued or controlled by a government or authorities.
How does NFT influencer marketing work?
First, let’s understand how influencers play their part in NFT influencer marketing.
There are two types of NFT influencer:
- Experienced trading experts who create content about NFTs and crypto. They offer trading tips on up-and-coming coins and tokens and keep their audiences up to speed on all crypto trends.
- The artists who create the tokens that are sold online. Many were already accomplished artists before the NFT boom and now offer their audiences an exclusive look into their creative process and tease upcoming releases.
Brands looking to explore the NFT world should consider partnering with these influencers before doing so. There is still so much confusion surrounding NFT influencer marketing and NFTs in general, and having the backing of an expert in the field will ensure that you stay afloat.
From here, brands can collaborate with NFT influencers to help give back to their community, tell their story or open new revenue streams. One of the more interesting ways brands can utilise NFTs is by offering the token as a ticket to an exclusive event.
NFT marketing examples
Ahead of the 2021 Mexican Grand Prix, Red Bull Racing released a 10,000 piece NFT collection to commemorate Sergio Perez’s first race in his native country as a brand-sponsored racer. Red Bull Racing CEO, Christian Horner, said that the NFT collection was curated in an attempt to “remain at the forefront of innovation and technology, both on and off the track”.
📣 @redbullracing‘s debut drop of Digital Collectibles powered by @Tezos is here!
➡️ Dropping on #NFT marketplace @sweet, the team’s first #NFTs and future collector’s items will be available, for a limited time only, exclusively on #Tezos.https://t.co/zAqm9BmHMX
— Tezos (@tezos) November 5, 2021
Another big brand who likes to experiment with the world of NFTs is Gucci. In March of this year, Gucci teamed up with NFT project 10KTF to produce a floating virtual world called ‘New Tokyo’. The collaboration also featured fashion accessories for NFT owners to purchase and a fictional character named Wagmi-san.
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Popular NFT influencers
NFT influencer marketing would not be possible without the NFT influencers themselves.
Here are the top 10 NFT influencers that you should be following:
- Gary Vaynerchuck (aka Gary Vee) – 10M followers on IG
- Farokh – 228K followers on IG
- Crypto Baristas – 1,951 followers on IG
- Pranksy – 23.3K followers on IG
- Gmoney – 51K followers on IG
- NFT Times – 59.8K subscribers on YT
- OhhShiny – 157.7K followers on Twitter
- Jimmy NcNelis – 150K followers on Twitter
- The Bitcoin Express – 150K followers on YT
- Devin Finzer – 71.8K followers on Twitter
The future of NFTs
We’ve established that the NFT craze has hit the marketing world like a ton of bricks. How long this craze will last is still something that we don’t quite know. However, while they’re around, it’s best to make the most of them by understanding what this futuristic marketing concept could mean for the future of social media marketing.
For brands brave enough to delve into the world of NFTs and crypto, partnering with NFT creators is essential. These creators have hoards of tech-savvy followers who are always looking for the next hottest thing. Brands can incorporate these creators into their NFT influencer marketing strategies by having them break down what it means to buy and sell NFTs in a way that is easy and accessible, making your brand available to a new generation of consumers.
What is NFT influencer marketing?
NFT influencer marketing is when a company in the crypto or blockchain industry works with a specialised NFT influencer to promote their product or service.
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