Should You Use the Word ‘NFT’ in Your Marketing?
‘NFT’ provokes strong positive and negative reactions from certain groups of potential customers. Indeed a recent email from Verse was titled “NFTs have a huge branding problem.”
The damage was done by 2021's gold rush to buy and sell images of cartoon animals via energy-intensive blockchain transactions.
However, as anyone in the space will tell you, in 2022, web3 is different. Serious businesses and creative projects are being developed by artists, brands and entrepreneurs. Many have the potential to reshape online and offline commerce.
So if you're launching an NFT startup today, what's the role of the word ‘NFT’?
There are 3 options for web3 startups when it comes to NFT branding and messaging. (Examples of each are in the photos from NextDistrict, MintStars and Dapper Labs).
1.
The first is to double down on NFTs, using the word in your messaging - attracting NFT enthusiasts and those curious about the technology, while at the same time trying to educate new users about how they work. Naturally, this could repel those put off by the aforementioned negative connotations the term has. If your users are seeking solutions that use this technology, this is the path to take.
2.
The second approach is to use an alternative term as the headline while acknowledging the product is "powered by NFTs" or "using blockchain technology" Alternative terminology includes tokens, collectibles, or digital assets.
This strategy makes your project more acceptable to a wider audience, but could also alienate NFT enthusiasts who are actively looking for NFT-related products and services.
3.
There is also a third option: simply not mentioning NFTs at all and focusing solely on the specific benefits of your product or service. This approach should open your product up to the greatest range of users, but could also make it more difficult for NFT enthusiasts to discover your project.
Ultimately, it’s up to each startup to assess its target audience and decide how they want to approach NFT branding. Whether you choose to embrace the term or distance yourself from it, staying true to your brand identity and offering value to users should be the top priority.