are you a brand? should you care about NFTs? (TLDR: yes, absolutely)

digital art is at the forefront of adoption: most NFTs selling for big bucks are digital art. take for example the fact that Beeple’s NFT, which sold for $69m, was basically a JPG file.

CPG brands are a close (relatively speaking) second: Pringles auctioned NFTs, so did Taco Bell. General Mills also auctioned NFTs but they also rewarded the highest bidders a physical product before its commercial launch.

luxe brands will find NFTs a valuable source of ancillary revenue: Luxury goods and NFTs both have the inherent features of scarcity and intangible value. Rumor has it that Gucci and Louis Vuitton are close to releasing NFTs. They can hit it big if they can leverage the NFTs to augment the shopping experience, making it more unique and bespoke. luxe brands can also leverage NFTs for authentication of tangible goods (and finally move from conspiracy-surrounded RFID tags).

fancy online metaverses (virtual worlds): NFTs can be used to create unique digital experiences — think of an autograph from a movie star upon buying a movie ticket, all the way to creating online avatars wearing Rolex watch NFTs.