Baystreet Staff -

Eric Pulier on Smart NFTs: Why Creators and Brands Should Invest Now


LOS ANGELES, CA / ACCESSWIRE / June 28, 2022 / "Smart NFTs are an asset class with unlimited potential," says Eric Pulier, CEO of Vatom and creator of the first Smart NFT. Pulier offers his thoughts on why investing in these Web3 tools now, while the market is still in a nascent - but, immensely exciting and exponentially growing - stage, will provide unforeseen advantages for both creators and brands.

While NFTs have made their way into the household lexicon, consumers may still wonder what makes an NFT smart, and why it matters to them. A Smart NFT is more than a digital asset, it's a ticket into a world of elevated connection and engagement between brands and consumers. A Smart NFT can be programmed to be dynamic and responsive to real time events. While a traditional NFT is valuable because of its unique authentication of ownership, a Smart NFT not only provides that same singular ownership confirmation, but also new levels of loyalty, reward, and relationship. And this functionality -- which is both safe and secure -- is poised to revolutionize the ways brands think about customer engagement.

Take, for example, State Farm. As an insurance company, customers may not typically seek out the brand as a source of fun and unique experiences. But, through Vatom's Web3 Platform, State Farm was able to challenge that notion in a compelling and unexpected way. Working with Vatom, State Farm created an exciting new activation for their partnership with NFL star, Patrick Mahomes - they dropped Smart NFT Footballs all over the U.S., and customers collected over 1.3 million of the virtual footballs across three days. Each one found was redeemable for a diversity of real-world prizes, including signed memorabilia, free tickets to games, and more. Smart NFTs enabled State Farm to create a memorable brand experience that connected with customers in a way they value-respecting the audience's time by authentically tapping into their passion and sense of adventure. Not only did the event create buzz and hype around the brand, it also gave State Farm a meaningful connection to everyone who found one of the Smart NFT Footballs. Smart NFTs are now out performing traditional communication channels, and are increasingly becoming a central component of brands' overall communication strategy and execution.

Smart NFTs are an innovative tool that allow brands to connect directly with consumers, not through advertising, but through the interests and passions that give their lives meaning. Consider the music industry. Brands, in partnership with record labels, artists, or concerts could leave Smart NFTs for festival-goers to find at smaller stages to help audiences discover new artists. The brands could then use those NFTs to offer owners of the assets exciting access to exclusive virtual and physical experiences, or deals related to both the artist and the brand. An artist could offer bonus content for fans that pre-order their next album release through a Smart NFT. In fact, Smart NFTs allow brands to not only interact with the music industry, but behave like the music industry as well. They can reserve exclusive editions of future products, track transactions on blockchain through secondary markets, and provide royalties to their creator every time they are sold.

"Smart NFTs are a game-changer for artists," says Eric Pulier, "Artists working in the former model don't have this ability - once they sell something, it's out of their hands. Royalties in the new model allow artists to actually make a living doing what they love. And a direct connection through the NFT wallet allows artists to know their fans and build community like never before."

When Eric Pulier originated the Smart NFT, he recognized the incredible potential for one-of-a-kind, dynamic, and verifiable digital assets to change the way creators and brands interacted with their audiences and customers. He saw that when true ownership and first-person data were in the consumers' hands, and third-party data brokers were removed from the consumer-brand equation, both the brands and audiences would benefit. Adopting Smart NFTs now will provide a leg up for creators of all kinds to realize groundbreaking success within the Metaverse. As a result, in the coming years advertising and marketing budgets will redirect to these more engaging, impactful formats.

"Smart NFTs are already broadening the horizon for brand and consumer connectivity in both real world and virtual spaces," says Eric Pulier. "What makes this phenomenon urgent for brands today is the combination of the rapidly growing use-cases for consumer experiences using Smart NFT's in augmented reality and virtual spaces, coupled with the public's desire for more meaningful and valuable connection to the world around them."

About Vatom

At Vatom our mission is to enable both Brands and Individuals to easily engage directly with the emerging Web3. Using our platform Brands and Creators can own Web3 domains, create their own virtual spaces, distribute simple, consumer-friendly Web3 wallets, create, buy, sell, exchange smart NFTs, and launch their own branded marketplaces and social tokens.


Brian Wallace
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