Since the hyper-adoption of social media platforms, individuals to top 500 companies have been using them to streamline their advertising efforts to promote their products or services to a highly refined target market.
Social media networks such as Instagram provide advertisers a unique insight into their target market’s lives and direct interests through the Meta Ad platform. No longer are advertisers hoping their target market is watching or reading their ad — they are directly targeting them.
Recently, Instagram announced they would be introducing free NFT profile picture integration from the four most prominent NFT blockchains: Ethereum, Polygon, Solana and Flow. I believe Instagram opening its doors to NFT integration will create ample marketing opportunities for new and old NFT projects looking for exposure.
A new marketing landscape?
With over two billion active monthly users, Instagram is a gold mine for advertisers as users scramble to express their individuality through pictures, art and video. NFT integration will allow individuals to express themselves or even show off their irrefutably owned blockchain assets.
So, what are the new opportunities?
Influencer marketing
Traditionally, a project may pay an influencer to promote their NFT project and receive a post or mention from the influencer. On rare occasions, such as with the massive MoonPayadvertising campaign, several high-end celebrities shared their new NFTs as profile pictures, sponsored by MoonPay.
A crucial element currently missing from influencer marketing is proof that a specific celebrity or influencer owns an NFT from the project they are promoting. Fans want to see, regardless if they bought it themselves, that their favorite celebrity or influencer owns the NFT.
By providing indisputable blockchain proof, Instagram’s NFT profile picture integration means NFT projects can now pay influencers to change their profile picture to a specific NFT, proving ownership. The effectiveness of such marketing campaigns will be unparalleled and could put the NFT project into the limelight.
Not just a fad
Within a crypto echo chamber or bubble, one may quickly believe that NFTs are everywhere and gaining mainstream adoption. However, time and time again, the general public has denied such a belief as the average person is still in denial over their usefulness and efficacy.
With this in mind, NFT integration within one of the biggest social media platforms may change the minds of those who are skeptical about NFTs and expose those who never knew they existed to the crypto-sphere and the world of digital ownership.
So, with a heavier spotlight on NFTs throughout Instagram, traditional marketing campaigns will instantly become more successful as the average Instagram user becomes more responsive to NFT project marketing. Seeing their favorite influencer parading their new NFT purchase, on top of an increase in overall marketing campaigns, will create a malleable landscape that we have not seen before.
Third modernity of marketing
The first mover’s advantage is always prominent within any new marketing medium or old space revamped with new features such as NFT integration. NFT projects that are vigilant about the changing landscape will be able to use the latest marketing opportunities around them as a catalyst for their growth.
The third modernity of marketing will be spearheaded by ownership and individualism. Gone are the days of generic television ads or even curated social media advertising. The new modernity of marketing will focus on direct ownership and the curation of the individual through brand and cultural movements. NFT projects, which can capture this change, are likely to succeed in these parameters.
Conclusion
As more social media channels slowly follow suit, it will be interesting to see how the crypto-sphere will affect modern marketing opportunities and how each user connects with their virtual identity. For marketing agencies hoping to be at the frontier of this unique opportunity, this could be a way to hedge your bets against a changing market.
Tim stepped into the crypto world in 2017 and never looked back. He’s now CEO of crypto and NFT marketing agency, Lunar Strategy.
This article was published through Cointelegraph Innovation Circle, a vetted organization of senior executives and experts in the blockchain technology industry who are building the future through the power of connections, collaboration and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.
Learn more about Cointelegraph Innovation Circle and see if you qualify to join