This August, we’re talking about money: from alt assets, to crypto, to El*n M*sk. But to understand the hype, you must embrace the hype...
They appeared in our feeds one day, without warning. If you worked in marketing six months ago, your emails, slacks and zoom calls were suddenly overrun with three letters: ”NFT.” Non-fungible tokens. Digital art. Outlets from Bloomberg to CBS News made pains to explain them. Any digital content could be an NFT: a jpg, a video, an audio file, you name it, and unlike memes, which could be replicated infinitely, each NFT was completely, verifiably unique. Everyone wanted in. Some of us helped our clients create them, and it seemed like NFTs were posed for something big to happen, but what exactly?
Then the hype died down and it felt like NFTs fell off the map. The truth is that NFTs never went anywhere, they’ve been quietly mutating for a few months, spreading virally behind our backs. And as digital objects of value recorded on the blockchain, the same infrastructure that powers cryptocurrencies, NFTs represent a vital way in which new forms of money and capital are transforming culture, online and off.
In that light, here’s a quick primer from us on what to do with those NFTs you bought, or made yourself. NFTs can do more than ever, which means there’s more opportunities for brands to slide into the conversation. Here’s what you can do with NFTs: