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9 - Power to the People

Consumers, NFTs, and Marketing in Pursuit of a Decentralized World

from Part III - Capital Markets, Community, and Marketing

Published online by Cambridge University Press:  02 November 2024

By
Hamutal Schieber
Edited by
Nizan Geslevich Packin
Nizan Geslevich Packin
Affiliation:
Baruch College (City University of New York)
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Summary

This chapter delves into the challenges and opportunities surrounding the use of non-fungible tokens (NFTs) as a marketing tool. It explores how advertising and marketing have undergone a transformative shift in the 2020s, fueled by user-generated content and advancements in technology. The rise of the Creator Economy and the significant role of NFTs within this ecosystem are thoroughly examined. The chapter places a specific focus on the connection between NFTs and consumers, with an emphasis on early adopters and younger generations such as Gen Z (born between 1996 and 2010) and Gen Alpha (born between 2011 and 2025) consumers. It delves into their preferences, perspectives, and interests in NFTs, while taking into account the broader landscape of the evolving Creator Economy. Ultimately, the chapter advocates for marketers to understand the immense potential of NFTs and embrace consumer empowerment. By doing so, they can navigate the Web 3.0 era effectively and harness the power of NFTs to drive engagement and establish meaningful connections with their target audience.

Keywords

Creator Economyinfluencerssocial mediaWeb 3.0blockchainNFTsmarketingsocial mediaGen Z
Type
Chapter
Information
The Cambridge Handbook of Law and Policy for NFTs , pp. 179 - 195
Publisher: Cambridge University Press
Print publication year: 2024

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