A Florida Supplier Seeks To Jumpstart The Promo NFT Market
Consumer brands’ use of non-fungible tokens (NFTs) as extensions of marketing is edging toward ubiquity. Newly available to the promotional products industry, MyPromoNFT is a patent-pending technology that’s making it possible for distributors to offer NFTs to their clients as promotional products.
Whether brands are campaigning in the metaverse or in the real world, or bridging the gap between both, MyPromoNFT permits brands to gift collectible NFTs to end users, even those with little to no experience with blockchain technologies.
“NFTs are a hot topic and virtually everyone in marketing is talking about them,” says Gino Gavoni, president and owner of Brand O’ Guitar Company (PPAI 348634, S1), a Sanford, Florida, supplier and the developer of MyPromoNFT. “Recognizing the increasing popularity of NFTs, the demand created an opportunity to develop an NFT solution for the promotional products industry. However, making it easy for distributors and end users to understand presented a unique challenge.”
MyPromoNFT has its own blockchain, PromoNFT, which does not require end users, or those who receive a collectible NFT, to have their own digital wallets, blockchain accounts or knowledge of cryptocurrencies to access and experience. What this means for distributors’ clients is the ability to ensure promotional NFTs are accessible and thus enjoyable for all recipients, whether it’s their very first NFT or their 50th—something Brand O’ Guitar Company refers to as “NFT for Everyone.”
“‘If it’s easy to sell, it’s easy to buy and vice versa,’ is a Brand O’ Guitar Company philosophy integrated into all products,” Gavoni says. “Certainly, NFT collecting and trading is on an upswing along with augmented reality. There is also a reimagining of QR codes created by the need for social distancing.”
There are two parts to MyPromoNFT, Gavoni explains. The first involves MyPromoNFT.com, a client-safe website that provides information to illustrate the use and benefits of NFTs as promotional products. “All a distributor needs to do is share the link with their clients,” he says. There is also a page for distributors, which is accessible with a valid PPAI, SAGE or ASI number, and which includes selling sheets, price guides, video demonstrations, templates and other sales tools.
The second part, Gavoni says, “is a demo of the proprietary validation and redemption blockchain where end users claim, sell or export NFTs.”
Gavoni says the goal of MyPromoNFT—which also offers blockchain minting and Ethereum wallet transfers in addition to NFT creation—is to educate distributors on NFTs and provide them with all the tools needed to succeed in this space.
“With all of the heavy lifting already covered, distributors can expose their clients to the newest and most exciting promo programs while enjoying a 40% profit margin,” he says.
One of the most popular ways that brands are using promotional NFTs, and which is explained on the MyPromoNFT website, is through giving away limited-edition or collectible NFTs as part of an event or campaign. When a company offers NFTs as a giveaway, each NFT has its own individual number, deeming it a collectible. End users can redeem the NFT online using a QR code, which can be sent to them via email or printed on another promotional product distributed to them.
MyPromoNFT is protected through multi-tier cybersecurity measures, and in addition to NFT creation and minting, it also collects real-time data about a brand’s NFT promotions, offering valuable information to enrich companies’ future campaigns. Brand O’ Guitar Company is also developing a new service for distributors to offer their clients in regards to QR codes, which will launch soon.
“Stay tuned!” Gavoni says.