NFTs: the brand opportunity in a volatile market
On this week's episode of The Drum Network Podcast, senior tech reporter Chris Sutcliffe is joined by a panel of experts to discuss how brands should be using NFTs. The panel acknowledges that there have been wobbles (which is putting it mildly) in terms of how NFTs have been created and monetised to date.
Despite that there is still an awful lot of value to the web3-based tokens, not least around community building and storytelling. So while we might still be in the experimentation phase, how are some of the biggest brands going about actually deploying NFTs?
This week's panel is: Scott Cullather, president and CEO, INVNT Group; Anne Greenberg, senior consultant, brand and content, Frog; and Cindy Niu, consultant, brand marketing at Known.
The panel and Sutcliffe discuss:
- What have been the best examples of brands selling NFTs to date?
- As the crypto instability continues, what should brands be doing to protect their investment in the space?
- What types of NFT - collectible, utility etc. - will work for various sectors and verticals?
- What would be your advice to brands or agencies looking to increase their investment in web3 over the short-, mid- and long-term?
- How do brands minimise the impact of NFTs on the environment?