Mastercard will launch its first non-fungible token (NFT) in partnership with the renowned football coach and Mastercard global ambassador José Mourinho. The digital asset will be randomly awarded to a Mastercard cardholder who enters the United Kingdom sweepstake.
Many brands are making use of digital assets in marketing campaigns. Auctions of branded NFTs in blockchain powered platforms seem to be the most common practice. These attract a younger and tech savvy audience and showcase to consumers that the brands are modern and keeping up with technological trends.
These auctions, however, are likely only to engage consumers who already have some familiarity with blockchain or NFTs, especially since auctions involve a financial commitment. The majority of a non-tech brand audience is likely to be unwilling to invest in the ownership of a branded NFT.
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