Clancey Braxton Yohman is a business professional with wide expertise in digital marketing and the NFT industry. Recently, he has shared his views on businesses entering the NFT space and why it’s crucial for brands to take advantage of the amazing opportunities out there.
NFTs are undoubtedly a contemporary innovation in the digital space. They have quickly become widely adopted not only in technology but in finance, sports, arts, and fashion industries as well. However, it can be hard for many small businesses to grasp the opportunities that NFTs might provide for their brand.
Renowned business expert Clancey Braxton Yohman is advocating for businesses to take advantage of NFTs in order to increase interest in their brands. He believes that the NFT industry holds many promises that business owners can capitalize on.
What are NFTs
NFTs, or non-fungible tokens, are digital assets. They exist on the blockchain and are unique because each NFT has a non-replicable identification and metadata, which distinguishes them from one another. NFTs are seemingly a complex notion; however, they are straightforward in their logic.
Any type of creative effort, including digital images, videos, movies, podcasts, and so on, could be an NFT. They are, basically, digital representations of art collectibles. Their value may change depending on their ownership history or rarity, but one thing is sure – they are significantly impacting how the digital space works and revolutionizing digital ownership.
How businesses can benefit from NFTs
Clancey Yohman explains that NFTs are the future of digital marketing. He is an expert on NFTs, marketing, and business development strategies. According to him, marketing is one of the many uses of NFTs in business, and every brand should strive to incorporate NFTs into their marketing plans. Since NFTs are unique, and there is only a set amount of them, they hold a special value for their buyers. Brands could start selling their own one-of-a-kind NFTs to their customers and thus improve their brand awareness and online presence in their brand’s industry.
The opportunities that NFTs bring for businesses could change the way brands interact with their target audience and help companies bring in more customers. Especially for online businesses offering digital services, NFTs could be linked to their existing digital offerings, allowing them to gain a competitive advantage.
One way that businesses could use NFTs, according to Clancey Yohman, is to create an NFT with the company’s logo. They could sell it for a fundraiser and advertise it on their social media platforms. This could result in improved brand loyalty and community for their consumers. The company’s unique NTFs will serve as the perfect advertising strategies in the ever-evolving digital space.
What to avoid when entering the NFT industry
Many businesses have already found marketing success using NFT technology. However, if you are a new business owner, there are some mistakes that should be avoided when entering the NFT space.
As an NFT pro, Clancey Braxton Yohman points out that every business owner should first gain some basic understanding of the blockchain before dipping their toes into the NFT world. Proper research and planning are crucial for businesses to unlock the true potential of NTF marketing.
Brands and businesses should also recognize the right time to jump on the opportunity. The so-called fear of missing out has led many individuals and businesses to invest in the wrong experiments and become let down. Recognizing a missed opportunity is just as important as recognizing the right one, according to Clancey Braxton Yohman.
There is no doubt that NFTs are already influencing the world of business, and their true potential is yet to be seen. Small online businesses should re-evaluate their marketing strategies and take advantage of the NFT trends to boost their performance.