NFTs & the CPG Industry

The explosion of the NFTs space has been nothing short of remarkable. So, should your CPG brand consider jumping on this trend? While NFTs could represent a huge opportunity to tap into the growth of virtual worlds and connect with consumers, I don’t want CPG brand owners to get too excited and make silly decisions because a lot of the various valuable applications are longer term plays that go beyond digital art and collectibles. Jumping on a bandwagon because it's trending seems to be an often-used strategy today, but you have to ask yourself if NFTs will create any real value for your brand. If not, maybe wait and see how the bleeding edge space evolves over time. That being said, I'll share how some of the highest profile CPG brands are experimenting with NFTs (including Pringles, Dunkaroos, Charmin, and Dream Pops). Some might argue that NFTs are a fad and others might have no idea what NFTs were until this piece of content, but my prediction is CPG brands will find enough utility in the brand building and promotional areas that will create a long enough runway to reach the deeper long-term benefits.