DTC Brand Keeps Becomes The First Major Brand To Sponsor An NFT In Cryptopunk #6457
Keeps, a direct-to-consumer hair loss treatment company, became the first major brand to sponsor an NFT.
Jeff Krantz, the holder of Cryptopunk #6457, posted an open call for sponsorship opportunities for his NFT and encouraged Gillette, Ray-Bans, and Keeps to get in touch with him.
Keeps jumped at the opportunity. It developed an NFT version of the hair serum for Cryptopunk #6457 to "use" and then minted a new NFT showcasing a new identity of Cryptopunk #6457, featuring a "thicker, fuller head of hair."
Rather than simply sticking its logo on Cryptopunk #6457, Keeps actually made NFTs on Ethereum blockchain, which required money, time, and people resources. By taking this approach, Keeps and Krantz were able to create an authentic campaign around Cryptopunk #6457 that showcased a new example of how brands can enter the NFT market through branded content.
Brands have largely entered the NFT market by creating their own NFTs, purchasing existing NFTs, or collaborating with notable creators to co-brand NFT collections, but the branded content use case may become common in the near future, now there is an example of how it can be done.
Virtual influencers such as Lil Miquela and Shudu are already sponsored by brands, so sponsoring notable NFTs such as those from collections like Bored Ape Yacht Club, The Sandbox, and CryptoPunks isn't a huge leap.
Like IRL influencers, these digital collectibles have a great deal of influence and are driving culture, providing brands the opportunity to enter an emerging market and reach brand-new audiences.
Traditional influencer marketing campaigns won't disappear. However, since more and more people are tapping into Web3 through NFTs, gaming, VR, and more, it is becoming more critical for brands to have a presence there. This includes creating digital versions of their products that function as collectibles or designing products specifically for NFTs or gaming characters, as Keeps did.
Or at least brands can get in on the action by experimenting with creator payments using cryptocurrency.
One of the most exciting things about Web3 is how much creativity it will unlock. Thanks to current and future technology, brands and creators will be able to deliver new and engaging “always-on” experiences. This will allow them to connect and interact with consumers in ways we cannot currently imagine.
While some brands are wary of Web3, this will change as consumer penetration increases and their competitors start to take action.
At one point, TikTok was seen as something new that brands did not want to risk trying out. Today, it is almost a necessity.
The way things are progressing with Web3, the same could be true.
If history teaches us anything, it is to be an early adopter instead of being late to the party.
