JANUARY 31, 2022|BRANDS & MARKETING
Welcome To A World of Manufactured Scarcity ... Online and Offline
HBR had an article about how luxury brands are manufacturing scarcity in the digital world. Of course, they talk about NFTs and digital products. Without irony, the article mentions a "virtual hoodie NFT by the brand Overpriced" that sold for $26,000. Clearly the market for digital products is growing fast.
Reading about NFTs or digital avatars make it seem like the opportunity to manufacture scarcity would be uniquely possible or controllable in the digital world. Yet entire industries, like diamonds, have relied on the ability to manufacture scarcity for centuries. Ultimately, it's a story of control. When the control for what constitutes value is in the hands of a powerful few, scarcity will always be manufactured.
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How It All Started
A Short Backstory Of This Blog
This is a blog about non-obvious ideas. Originally launched on the Typepad platform in 2005 as the Influential Marketing blog, the stories at first focused mainly on digital marketing while Rohit worked at Ogilvy Advertising. In 2015 Rohit officially rebranded to the Non-Obvious Insights Blog and published his WSJ bestseller Non-Obvious. For the past twenty one years, this blog has coined new terms, introduced future marketing practices and inspired the next generation of non-obvious thinkers and marketers.
