"Communicate with MZ through NFT"... The distribution industry fell into NFT [Geeks] > NFT_News KDCA(한국데이터공인인증원)

Non-Fungible Token(NFT) marketing in the distribution industry continues. Collins, a British dictionary publisher, selected NFT as the word of the year last year, so the industry is actively using it as a marketing tool.

According to the industry on the 30th, Lotte Home Shopping introduced the 'Lucy Meets the World' NFT featuring the virtual model Lucy from this day. It is a digital art made of 140 photos of Lucy's activity history from February of last year to the present. We sell a limited quantity of 50 and offer the benefit of taking a photo with Lucy through a lottery among purchasers.

The same goes for the convenience store industry. Convenience store CU presented NFTs of art works created in collaboration with artist 'Lay Lay' in March. In the membership app pocket CU, an event was held to obtain NFTs of CU, and more than 1,500 participants gathered in about 11 days after the event started. Seven-Eleven last month issued 'Seven NFT' loaded with coins with real monetary value.

The reason why the distribution industry is working hard on marketing using NFT is to catch the MZ generation (millennial + Z generation) who are enthusiastic about scarcity. NFTs are characterized by being irreplaceable and scarce, with unique values assigned to each. An industry that has taken advantage of this scarcity particularly well is the luxury goods industry. Balenciaga released hats, T-shirts, and hoodies as NFT products last year. Dolce & Gabbana also sold a total of 9 NFT collections, including the digital tiara, through auction. It is marketing that emphasizes the commonality between NFT and luxury goods.

However, there are things that both companies that conduct such marketing and consumers who purchase NFTs need to be careful about. This is because the price of NFTs may plummet, which may cause financial damage to consumers and damage the brand image.

In fact, the price of the world's first tweet NFT by Twitter co-founder Jack Dorsey, which was traded at 3 billion won last year, has fallen to the level of 300,000 won. Sales of OpenSea, the world's largest NFT trading platform, also shrank from about 6 trillion won in January to 3 trillion won in February.

The distribution industry also advised consumers to participate in NFT marketing as an investment. An official from the distribution industry said, “ In the industry, there is a large aspect of marketing NFTs in order to attract consumers' attention," and "Consumers should be careful as this marketing is not intended to encourage NFT investment."