Brands use NFTs in packaging to further differentiate limited-edition products
Trend - The inclusion of NFTs in product packaging shows how brands outside the tech industry can use new tech to appeal to the modern consumer. F&B and fragrance brands are adopting NFTs in packaging to establish themselves as forward-thinking, and appeal to consumers interested in blockchain tech.
Insight - Consumers who are knowledgeable in blockchain technology--everything from cryptocurrencies and NFTs to the metaverse--tend to be highly passionate about their interests. Users of decentralized technology have formed close-knit virtual communities and created excitement around the potential of this technology. This passion, combined with blockchain consumers' buying power, makes NFTs a powerful tool in bringing in new customers.
Insight - Consumers who are knowledgeable in blockchain technology--everything from cryptocurrencies and NFTs to the metaverse--tend to be highly passionate about their interests. Users of decentralized technology have formed close-knit virtual communities and created excitement around the potential of this technology. This passion, combined with blockchain consumers' buying power, makes NFTs a powerful tool in bringing in new customers.
Workshop Question - How could your brand take inspiration from trends in other industries?
Trend Themes
1. Nft-based Product Packaging - Brands are using NFTs in product packaging to appeal to customers interested in blockchain tech.
2. Asset-backed Nfts - Brands are releasing NFTs that can be redeemed for physical products, which creates unique opportunities for asset-backing digital items.
3. Collectible Nfts - Companies are creating limited-edition NFTs in conjunction with physical products to attract collectors and create scarcity.
Industry Implications
1. Food and Beverage - F&B brands are increasing the appeal of limited-edition products by incorporating blockchain tech and experimenting with NFT-based asset-backing.
2. Wine and Spirits - Luxury wine and spirits brands are leveraging NFTs to increase the value of their limited-edition products and attract collectors.
3. Art and Collectibles - The intersection of physical products and digital collectibles through NFTs is creating new opportunities for art and collectibles industries.
