Innovation is essential for brands that want to separate themselves from the competition and embrace creativity. Businesses are beginning to see the utility of NFTs: digital products with unique IDs. Companies integrating NFTs into their branding strategy should consider collaborating with NFT creators, tokenizing events, converting physical products into NFTs, licensing, and running NFT contests and giveaways. Zipline’s survey results indicated that 84% of Generation X, 70% of Millennials, and 63% of Generation Z would be interested in an NFT from the brands they enjoy.

NFTs allow brands to add value to digital products; however, the product must be of value to consumers. Brands like Gucci have created NFT clothing, and Nike offers…