Jessica Goodfellow
Mar 7, 2022

Campaign asks: Are NFTs innovative or an overhyped fad?

SPOT SURVEY: Enthusiasts believe NFTs present "endless possibilities" for brands, but critics view the unique tokens as a "passing trend". Where do you stand?

(Shutterstock)
(Shutterstock)

The value of non-fungible tokens (NFTs) for brands has become one of the most hotly contested debates in adland in recent months.

The more purist and results-driven marketers have relegated NFTs to a "passing trend", destined to be added to the pile of failed marketing experiments. Some observers have even gone so far as to call NFTs "idiot magnets".

More innovation-driven minds believe NFTs are misunderstood, and offer value beyond simply buying and selling digital art.

The relative newness of the technology has attracted brands who believe in an early-mover advantage, but this is also the biggest risk of NFTs. Marketplaces are unregulated, opening them up to tax evasion, fraud and scams. The sudden surge in NFT creation has triggered a vast ecological impact.

Are the risks too high? Or for brands, is being left behind an even greater threat?

Whether you have personally minted an NFT or you are an industry observer, please take part in our quick anonymous survey below.

We will use the results to inform a feature on the perceived benefits and downsides of NFTs.

 

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