The Benefits of Cross-Collaboration Within Digital Asset Campaigns

Having a partner can make all the difference, especially in the world of digital assets. Many of the most innovative and successful web3 campaigns have emerged from collaborative efforts and strategic cross-promotion.

Let's explore four benefits of brand collaboration and uncover ways to leverage the inherently collaborative nature of the NFT space.

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1. Reaching a New Community

Getting your name and products in front of an entirely new set of potential customers is one of the biggest benefits of cross-collaboration within digital asset campaigns.

For example, the summer of 2022 yielded a collaboration between American Express and Australian band Boy & Bear, which launched exclusive digital assets to promote the Back the Night music festival. Fans who owned the NFTs got access to special merchandise and VIP experiences at the festival.

Beyond the exciting utility, American Express benefited from aligning its brand with a rising indie-rock sensation, which allowed them to get access to a community they might not have reached on their own. Similarly, Boy & Bear gained association with one of the most established global brands—American Express—and in doing so reached a more traditional, conservative fanbase that might have never been exposed to them otherwise.

Pursuing partnerships with surprising and unconventional brands can lead to remarkable NFT campaigns. Although the actual utility from the AMEX and Boy & Bear campaign might not have been groundbreaking, the hidden opportunities unveiled from engaging a new community can make the risks worthwhile.

2. Offering New Value to Your Current Customers

Digital assets present an excellent opportunity to reward your long-standing brand advocates. However, being familiar with your brand for an extended period might mean they crave something fresh.

Collaborating on digital assets breathes new life into your offerings, presenting your customers with something novel and captivating, inspired by a partnership with another brand.

Take, for example, the collaboration between Warner Records and Bose to create the Stickmen Toys NFT collection. This set featured 5,000 utility-enabled assets, each with a unique 30-second music track generated by The Stickmen Project. Besides the digital assets themselves, collectors could also claim physical rewards such as limited-edition headphones, Bluetooth speakers, and access to exclusive merchandise.

Both brands cater to music lovers, and their collaboration added new value for their (mostly) shared fanbases.

3. Added Credibility

Cross-collaboration enables each brand to benefit from the credibility of their partner. For example, if your brand is known for producing activewear, partnering with a luxury brand could elevate your brand.. Similarly, if you own a luxury brand, collaborating with a more accessible company on a digital asset campaign can make your products more approachable.

Both brands can enjoy the best of both worlds.

This is precisely what Adidas and Prada achieved with their digital collectibles collaboration. In their partnership, Adidas and Prada joined forces to create a one-of-a-kind NFT project, showcasing creator-owned art.

This interactive, dynamic platform allowed the community to contribute to a large-scale artwork through play, creating an engaging space for co-creation and the exploration of digital ownership. The collaboration highlighted innovation for both brands, and helped boost their reputations as cutting-edge fashion companies.

4. Novel Ideas and Innovative Experiences

When brands collaborate on something as innovative as digital assets, they get to capitalize on each other’s strengths and expertise, pushing the boundaries of creativity and innovation. As a result, the collaborations can yield groundbreaking concepts that capture attention and make a lasting impact.

For example, during Halloween 2021, Coca-Cola partnered with the University of Southern California to create a unique NFT experience. It seamlessly blended the physical and digital worlds to create an engaging, immersive experience. The "Coca-Cola Halloween Collection" consisted of four NFTs that represented digital versions of Coca-Cola products and memorabilia. The campaign used augmented reality to transform vending machines on the USC campus into virtual treat dispensers that gave out NFTs along with physical items. The students could then view and trade their NFTs on a blockchain platform.

This kind of bold thinking not only captured the attention of the university's tech-savvy students but also demonstrated the power of cross-collaboration in generating unforgettable digital experiences.

Find Your Brand Collaborators

Collaborating with digital asset campaigns is a powerful way to leverage the strengths of each brand involved.

By tapping into the potential of innovative technologies and embracing new partnerships, brands can create memorable and immersive experiences that capture attention, build credibility, and strengthen brand loyalty.

If you’d like to learn more about how your brand can use digital assets, connect with us at hello@ethosnft.com