Brands are launching NFTs with profits being donated to non-profits
Trend - Blockchain-based non-fungible tokens (NFTs) have become a viral phenomenon since hitting the market and brands are now leveraging the digital tokens for social good. Brands in various spaces, ranging from alcohol to streetwear, are auctioning off NFTs and donating the profits to charities and non-profits.
Insight - After a year of financial and emotional hardship for many, consumers are more aware of the need for philanthropic initiatives that support their communities. People expect more responsibility, action, and accountability from brands and no longer accept lip service, requiring tangible actions and business initiatives. Brands that can demonstrate social responsibility by offering accessible ways for consumers to give to the causes they care about will win long-term consumer loyalty.
Insight - After a year of financial and emotional hardship for many, consumers are more aware of the need for philanthropic initiatives that support their communities. People expect more responsibility, action, and accountability from brands and no longer accept lip service, requiring tangible actions and business initiatives. Brands that can demonstrate social responsibility by offering accessible ways for consumers to give to the causes they care about will win long-term consumer loyalty.
Workshop Question - What pathways to philanthropy can your brand provide to consumers?
Trend Themes
1. Charitable Nfts - Brands are launching NFTs with profits being donated to non-profits.
2. Virtual Donations and Experiences - Businesses create new virtual experiences and NFTs to raise money for charity.
3. Digital Collectibles for Philanthropy - NFTs are being used as unique digital collections that support charities and non-profits.
Industry Implications
1. Blockchain and Cryptocurrency - These industries are creating a new way for businesses to connect with consumers, make donations to charity, and implement social responsibility.
2. Fashion and Entertainment - Industries where creative expression and digital innovation drive how consumers relate to their favorite brand, NFTs can be used to create unique virtual experiences that align with philanthropic causes, building loyalty and purpose-driven outreach.
3. Hospitality and Food and Beverage - Brands are using digital assets and NFTs to give back and support those who lost their jobs, rebuilding local business communities, and investing in sustainability.
7 Featured, 46 Examples:
42,362 Total Clicks
Date Range:
May 21 — Jun 23
Trending:
Warm
Consumer Insight Topics:
