Cult decodes the NFT sector with new Futures Report
Creative agency Cult today releases its latest Futures insight report exploring NFTs, their potential for brand marketing, and their evolution as a key tactic in enhancing consumer relationships in the near future.
As part of this latest report, Cult is launching its own NFTs, slated to become available in December, to raise money for charity. Cult’s NFTs have been designed by their own junior creative team from London and New York, and profits from their sale will be donated to the Turing Trust, a charity providing quality IT resources and training to schools in sub-Saharan Africa. In the UK it provides valuable training and volunteering opportunities whilst reducing waste and contributing to an environmentally friendly society.
Cult’s dedication to ensuring its work also meets high sustainability goals extends to this NFT fundraising initiative, as the technology is widely acknowledged as a significant contributor to carbon emissions. To account for this, Cult is minting its NFTs with Voice, the carbon neutral NFT platform, to ensure as minimal environmental impact as possible.
The NFTs, designed by Cult’s junior creatives in their London and New York offices, explore a range of creative concepts from light and dark to technological and natural worlds, the planets, and a playful exploration of the collectible nature of NFTs. Cult creatives Mitchell Benjamin, Inga Tilda, Mindy Bilkhu, Joseph Chapman, Iman Siyad, Jael Umerah Makelimi and Michael Chen have each designed one of the NFTs.
The Futures report, now available from the Cult website, brings together a foundation understanding of the NFT space, and a summary of how early brand adopters of NFTs have deployed the technology not only as a platform for unique art projects but also to provide unique access to exclusive consumer experiences. The report also explores the environmental impact of NFT technology, and debates how the technology will evolve in the creation of person-to-person communities as investment in the NFT sector continues to soar.
Charlotte Bunyan, CSO, Cult, comments, “It’s impossible to ignore the rise of NFTs both in the wider landscape and specifically as a creative execution to deepen engagement between brand and consumer. But as the technology can be complicated and given current backlash against their impact on the planet, it can be tricky for some to see their potential. We wanted to not only educate on how NFTs will become more integrated into brand executions in the near future, but also lead the way in exploring how NFTs can be deployed for good, in a carbon neutral fashion, and create opportunities for artists and creatives.”