""This is the new battleground for consumer attention and commerce," says Tom Simpson, senior vice-president, APAC, Adcolony. "NFTs sit at the convergence of culture, identity, property, value, content and interactive technology. They represent both a mindset and a medium. It's a virtual world, but with real value for brands, and marketers shouldn't be afraid to dive in right now and experiment - with genuine leveling-up opportunities for early innovators who get it right.""
"Dominic Ho, an art director who co-founded Crypto Art Week Asia, says he believes NFTs are here to stay because of the way they add tangibility to digital. "Linking a real-world purpose to the digital space will change perceptions due to the tangible nature of its use case. People will begin to trust and see the value of owning an NFT rather than viewing it as 'buying a jpg'," he explains."
NFTs merge online experience and real-world commerce by assigning ownership, scarcity and value to digital assets. Major brands and platforms such as Coca-Cola, Christie's, Dole and Twitter are already experimenting with NFT sales and activations. NFTs have practical roots in gaming and the metaverse and connect identity, culture and content to commercial transactions. Adding real-world purpose and tangible use cases can increase consumer trust and shift perceptions beyond purely digital collectibles. Scarcity applied to digital items drives attention and luxury appeal. Brands can leverage NFTs to generate new revenue, deepen engagement and create differentiated consumer experiences.
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