E104 Part 2 - NFTs FOR SALE! Utilizing, Marketing, And Selling NFTs With Bennett Collen
WHAT DOES AN NFT DO? HOW DO YOU EARN FROM IT?
NFTs, though have been in the market for quite some time, are still a pretty new concept in the eyes of a lot of people. In this episode, Bennett explains from his experience what NFTs do, how they are being marketed, and how they are sold. If you are interested in NFTs as a revenue stream, tune in to the latest episode of Tech Sales Insights.
INSIGHTS OF THE DAY
BENNETT: HOW NFTs ARE USED OR DISPLAYED
“In terms of like the digital artwork itself, there are digital galleries where you can display all the entities that you own, I think the use cases for that eventually will get more interesting right now is more of a novelty, but from an Endstate perspective, we think of it as the utility that it gets you in the real world, as opposed to what you do with the digital artwork itself.”
BENNETT: REVENUE-GENERATING INVOLVEMENT OF COLLABORATORS
“We take a different approach to the traditional companies where we are involving the collaborator directly in the economics of the sale, instead of just saying, hey, we'll pay you an endorsement fee upfront, and then we make all the money on the back end, and we sort of sign them up as partners because we want them to have real skin in the game and interest in the collection doing well.”
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