Why Several Hotels & Hospitality Brands Are Implementing NFT To Their Hotel Marketing Plan.
As more brands, including those in the travel and tourism industry, are taking notice of and utilizing this digital asset. Could the growing presence of this digital asset offer a fresh approach to connecting with travelers and tourists, raising brand awareness, and creating new revenue streams, ultimately fostering a more robust economic recovery for the tourism sector? Businesses in the travel and tourism industry seem to agree. Numerous travel-centric businesses, including those conducted by hotels, airlines, and conservation organizations have just recently launched. But first, let’s quickly find out why more and more hotels & hospitality brands are incorporating (using) NFTs in their marketing strategy. As well as understand what an NFT is and how businesses can use it before we explore how these travel/tourism brands are utilizing NFTs in their travel marketing strategy. If you’re wondering which brands have already incorporated NFTs to their hospitality marketing strategy check out: NFTs Implemented By 6 Hospitality Brands
What Are NFTs (Non-Fungible Tokens) & How Can Hotels & Hospitality Businesses Utilize Them In Their Hotel Marketing Plan?
- NFTs can be anything digital that exists on a blockchain, such as works of art, music, tickets, proof of travel (such as flight schedules, hotel reservations, cruise tickets, etc.), or even videos. It is distinct because it is non-fungible (meaning: it’s unique and can’t be replaced with something else). And when it comes to using non-fungible token for hotel marketing the options are endless.
- An NFT is a unique digital object with a unique value and a unique owner, in contrast to stocks, which should be valued equally among all shares of the same company.
- Its ownership information is kept on a blockchain (and to understand how make sure to read this well-explained article by the Verge). This is a public area of the internet where data is kept and isn’t owned by a single person or business (unlike, say, social media sites that do own that data).
- Increasingly more and more people are using blockchains and blockchain-connected technology because they are more dependable and secure than other systems. This includes guarding against payment scams, cutting processing costs, facilitating faster international money transfers, and rewarding users.
And among other things, these four characteristics are the very reason why travelers from all around the world are so interested in this technology. It provides travelers with a tangible, unique object to hold onto. Now let’s look at how some travel and tourism brands are using NFTs in their hospitality and tourism marketing strategies.