If you’ve been keeping up with social media in the past few months, chances are you’ve heard of NFTs by now. This term has been sweeping the internet lately, gaining traction among all types of curious investors. The increasing popularity with the newest trend in technology is inspiring brands around the world to get hop on board. 

As a PR professional, it’s important to understand what all the hype is about so you can help your clients navigate the wild world of NFTs. In this easy-to-read guide to NFTs, our PR experts are breaking down what they are and why you need to know about them.

What Are NFTs?

NFT stands for Non-Fungible Token. So, what on earth is a non-fungible token? It’s a unique digital asset that cannot be duplicated and is traded on the Ethereum blockchain. 

While NFTs are traded through cryptocurrency, they differ from traditional cryptocurrencies in that they aren’t fungible. This means like while any one Bitcoin has the same value as another Bitcoin at one time, NFTs each hold different values.

Another easy way to explain it is that a non-fungible token is a form of digital ledger that can be associated with digital files like files, photos, and videos. Think of it like a one-of-a-kind trading card. While NFTs can really be any kind of digital file, many people use the technology specifically to buy and sell digital art. 

Why Do They Matter?

NFTs are all the rage right now and we can expect this excitement to stick around in 2022. Artists love them because they afford them the opportunity to sell artwork they might not otherwise be able to. Investors love them because they offer a thrilling new investment opportunity. 

Even everyday people who don’t necessarily consider themselves to be ‘investors’ can get a piece of the pie, purchasing digital artwork in the hopes that it might grow in value over time. Because NFTs primarily rely on some type of interesting content, they can be incredibly useful for public relations professionals looking to get their clients’ content out there in a fun and exciting new way. 

NFTs and PR

Now that you know what an NFT is and what the fuss is all about, let’s talk about how you (as a PR professional) can use them to your advantage. 

Here are 3 ways you can support clients with an interest in NFTs: 

1. Continue to learn about NFTs

Simply knowing the answer to ‘what is an NFT’ is not enough. As a public relations pro, it’s important to continue learning about the nuances about this new form of technology. Because we are often tasked with helping our clients unlock new trends to support their business growth, it’s important to continue learning about how this tool can impact them.

2. Inform the press about client NFTs

Just like any live event or physical product, NFTs need press releases and media attention to achieve success for your clients. You can start by building a list of publications with the ability to match your client’s NFT with interested consumers. 

3. Create NFT-Compatible Digital Campaigns

Many people feel that NFTs are much more than just a trend—they’re the future of cryptocurrency. With this in mind, it’s important to be strategic about your digital campaigns going forward. 

When creating digital content, make sure it aligns with this new technology and build connections with NFT marketers to best support your clients as they join the world of non-fungible tokens.