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Instagram Allowing Creators & Brands to Sell NFTs
Beginning this week, Instagram will allow a small group of U.S. creators and brands to mint NFTs on the platform, utilizing popular crypto protocol Polygon on the backend to process the tech. These creators and brands will be able sell their digital collectibles right on Instagram. Users will be able to buy the NFTs directly within the app. Meta says the process will take place via traditional in-app purchases across iOS and Android devices. For now, Meta is not taking a cut of the creators’ revenues. Amber Vittoria, one of my favorite physical/digital artists, will be one of the first people with access to this new feature. Meta previously announced that digital collectibles will be a big part of the platform’s future.
I cannot overstate how massive this is (both for the future of NFTs as a use-case and for the opportunities brands now have to take advantage). Instagram has 2.5 Billion active users. Regardless of what you may think around the hype associated with NFTs thus far, the tech has far-reaching potential. I’m working on a bigger piece that will showcase some really unique use-cases that we are working on with our clients and how we’re integrating NFTs into the rest of the social media + community building strategy. So stay tuned for that.
In the meantime, here’s some quick-hitting ideas on how you can use NFTs to further deepen your relationships with your customers:
1. Offer exclusive NFTs to customers who make a purchase: Offering exclusive NFTs is a great way to reward your best customers and incentivize others to make a purchase. For example, you could offer an exclusive NFT to customers who spend $100 or more in your online store. This would give customers an incentive to shop with you instead of your competitors.
2. Use NFTs as loyalty rewards: You could also use NFTs as loyalty rewards for your best customers. For example, you could offer an exclusive NFT to customers who spend $500 or more in your online store within a 12-month period. This would give your most loyal customers something valuable that they can’t get anywhere else.
3. Create an NFT-based loyalty program: Another way to use NFTs is to create an NFT-based loyalty program. In this type of program, customers would earn points for every purchase they make. They could then redeem their points for exclusive NFTs. This would give customers an incentive to keep coming back and make more purchases.
4. Hold an auction for an exclusive NFT: You could also hold an auction for an exclusive NFT. This would create excitement and buzz around your brand while also generating revenue. Could also be used to donate to charity.
5. Give away an exclusive NFT: You could also give away an exclusive NFT as part of a contest or promotion. This would generate excitement and buzz around your brand while also giving something valuable to lucky winners.
6. Use NFTs as prizes for social media contests: Another way to use NFTs is to offer them as prizes for social media contests. For example, you could ask people to follow you on Twitter and retweet a certain message in order to enter a contest to win an exclusive NFT. This would help you grow your social media following while also giving something valuable to lucky winners.
7 . Use NFTs as referral bonuses: You could also use NFTs as referral bonuses for people who refer new customers to your business. For example, you could offer a $10 discount and an exclusive NFT to anyone who refers a new customer who makes a purchase of $100 or more in your online store. This would give people an incentive to refer new customers while also providing something valuable to those who are successful in doing so .