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Are NFTs the future of online awards?

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Are NFTs the future of online awards?

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Lisbon International Advertising Festivals Group has introduced NFTs as a new award system.

At a time when the world and trends are constantly changing and evolving, it is essential to be at the forefront and ahead of events. The Lisbon International Advertising Festivals Group could be pioneering an evolutionary award system

Lisbon International Advertising Festivals Group is boldly attempting to lean into the meta and crypto popularity, so for the Grand Prix winners, in addition to the traditional physical trophies, they will also receive trophies in NFT. 

NFT is a type of certificate, used in the basis of the cryptocurrency system, which represents something unique, collectible and that cannot be replicated. The Lisbon International Advertising Festivals Group will operate on blockchain, allowing agencies to digitally access their trophy in addition to the physical trophy. 

In the words of Ana Firmo Ferreira, CEO of the Lisbon Awards Group, “Advertising festivals only make sense if they anticipate trends. Being pioneers in transforming physical trophies into NFTs shows what we are coming to: we want to be at the forefront.”

The Lisbon International Advertising Festivals Group is trying to anticipate the trends and while it is evolutionary, will it be the trend setter?

Could the meta and crypto currency be the future of online awards?

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Aidan Vaughan

Aidan Vaughan is a writer for Marketing Magazine.

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