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The ABCs of NFTs

By December 28, 2021October 24th, 2022No Comments
NFTs

When it comes to new technology and emerging markets, we’re experts at telling those stories. Cryptocurrency had us intrigued. As we continue to represent clients in fintech space, the rising popularity of non fungible tokens (NFTs) has everyone buzzing. Although now part of the mainstream vernacular, the concept and application of NFTs is still difficult to understand for many. We at Fort Lauderdale and Aspen-based public relations and marketing agency Durée & Company appreciate that the vast fintech landscape is ripe for strategic communication, education and tangible storytelling.

Despite their best intentions, some buzzwords still leave many people in the dark. So, in an effort to crack the code and make the conversation accessible and understandable to all, we’ve put together the ABCs of NFTs below.

  • A is for Asset.

In short, NFTs are a digital asset. They are an asset in that they can be associated with digital art such as videos, photos, sports memorabilia, audio files and other types of digital files as unique items that are easy to reproduce. NFTs are typically bought with cryptocurrencies or in dollars. Cryptocurrencies are a type of digital money that uses encryption technology to make it secure.

  • B is for Blockchain.

A blockchain is a record of transactions kept on networked computers or a digital ledger of sorts where cryptocurrency transactions are recorded. Each block of the chain is connected to other preceding and following blocks, making it difficult for hackers to disrupt. Because they run on a blockchain, NFTs maintain their inability to be duplicated, thus protecting their value. 

  • C is for Collecting.

NFTs are the very definition of the word unique. They are one of a kind and cannot be replaced with something else. This makes them perfect for collecting! According to com, NFTs first grabbed headlines in early 2021 when Beeple’s cryptocurrency art “First 5000 Days” became the world’s most expensive NFT valued at $69 million dollars. Since then, there has been a boom in digital art with many artists venturing into this “crypto art movement” for its lucrative potential. 

  • D is for Digital.

NFTs consist of anything digital, including drawings, music, and even a memento from the Macy’s Thanksgiving Day parade! They are a digital certificate of ownership but separate from a copyright. Copies of the original file are not restricted to the owner of an NFT and can be copied and shared like any file. The lack of interchangeability distinguishes NFTs from blockchain cryptocurrencies, such as Bitcoin.

  • E is for Etherium.

Most NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin or dogecoin, but its blockchain supports NFTs. It is worth noting that other blockchains can implement their own versions of NFTs.

  • F is for the Future.

There is no doubt that NFTs are here to stay and that additional uses and applications will become more commonplace. Just recently, ACS Laboratory, a leader in cannabis testing, announced a partnership with Blockticity and Moonwalk to launch the first national hemp client Certificate of Analysis (COA) as an NFT.

Whether you’re an established or developing fintech company, we have the know-how to help you craft marketing messages in this emerging industry. Visit us at dureeandcompany.com or call 954-723-9350. Discover how we can establish your communication goals, build the right press campaign, and deliver succinct messaging into the hands of media and consumers. 

About Durée & Company 

Durée & Company, Inc. is an award-winning, full-service public relations, marketing and special events firm founded in 1999. The firm has offices in Fort Lauderdale, Florida, and Aspen, Colorado. Durée & Company serves the corporate, agency and nonprofit practice areas for local, national, and international clients. Services include public relations, social media, marketing, content development, advertising, special events, branding, radio promotions and more. Durée & Company clients include well-known names in business, fashion, hospitality, travel, health and wellness, cannabis and hemp, psychedelics, technology and cryptocurrency, marine and yacht, art and culture, nonprofit organizations, legal and professional services and real estate. Durée & Company is a member of PR Boutiques International™ (PRBI), an international network of boutique PR firms. To learn more, call 954-723-9350; go to dureeandcompany.com; cannabismarketingpr.com; or psychedelicpr.com. Join the social conversation and follow Durée & Company on Facebook, Instagram, Twitter, YouTube and LinkedIn at @DureeCoPR.

 

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Five Things That Need to be in Your Resume or Cover Letter

To paraphrase Jerry Maguire, help us help you. As we sift through the paperwork, here’s what we are looking for:

1. What you love to do and why.

In PR, you may love writing, editing, interviewing, pitching the media, researching, coordinating events, networking, posting to social media … whew! While we would love it if you had a passion for it all, we’d never believe you if you said as much.

What part of this zany, crazy, whirlwind, yet meticulous, tedious, detail-oriented, profession calls to you and why? Help us make the connection as to how PR is really for you, and call it your Professional Summary.

2. Something you did that changed something or someone else.

If you never showed up to your last job, what wouldn’t have happened? That’s right. Erase yourself. Now which clients disappeared with you? Which articles just fade away? What press releases cease to exist? How much social media did NOT get liked?

We are just meeting you. So take a moment to spell out your impact, and it will be easier for us to see what you can do for the clients of Durée & Company. Share this under your Job Responsibilities.

3. Anything you created.

Feeling humble? Well, stop it. This is the part where you brag. If you craft a delightful blog, master a mind-blowing website, shoot crazy video or direct wonderful events, show us.

Then tell us a bit of how you did it, so we trust that it was your brilliance and not the intern’s. Let’s dub this Your Portfolio.

4. An indication of why you belong here.

At PR firm Durée & Company, we have a culture. Really, all companies do. To learn about ours, do some legwork. At this point, if you’re on our blog, you are in the right spot to begin learning. Hate pink? Not good with women? Live in Kansas? Low energy? Then you might want to reconsider applying. However, if we resemble a group that you’d like to hang out with, share why. You can do that in the Cover Letter.

5. Correctly spelled words – all of them.

Do more than hit spell check. Know how to spell or ask someone to proofread. Correctly spelled words work everywhere, all the time. Consider them the Little Black Dresses of resumes.

So consider these five tips – we’ve just given you a “cheat sheet” about what we’re watching out for. Even if our position may not be for you, feel free to use our advice for another – it may just get you the job!