NFTs, or non-fungible tokens, are the most well-known components of web3, and while many marketers have incorporated them into their brand strategy, the effects have been variable.

Why it matters

NFTs have become popular among marketers (including Coca-Cola, the soft drinks giant, and Twitter, the social network) looking to capitalise on the recent popularity of web3 technologies. But, in order to be effective, NFT collaborations must connect to useful benefits for the buyer and/or tell a story.