12 Months of NFTs. What Next?
After 12 months of learning, releases, and experiences we want to offer our loyal users an insight into the world of NFTs from a brand perspective as well as give you some valuable lessons that we learned along the way.
Check out the full post below to discover some of our key achievements and learnings for 2021 as well as our top selected use-cases of brands using NFTs in 2022; From Burger King’s, “Royal Perks”, to GAPs gamified NFT collection, discover what brands are doing in 2022 and how they are doing it.
What Was Achieved In These 12 Months?
We are proud to announce that this last year we successfully prepped and launched multiple NFT drops with brands such as Louis Erard, How To Spend IT, CEO Confidential, and UNHCR. Some of these drops included direct connections to our loyalty ecosystem where brands could use their NFTs as rewards for the users as well as using them for gamification purposes. Other drops, such as the UNHCR one, were launched with a humanitarian goal in mind, as the proceeds from the drop were directly given to aid in the Afghanistan Crisis.
As mentioned, certain brands were keen on integrating NFTs as rewards into their loyalty program, so we made this a core feature of our loyalty ecosystem. Brands now have the option to enable this feature using the API or to create their own loyalty program and integrate this feature.
Last but not least we made it our goal to deliver key information and knowledge on the topic of NFTs through content pieces, which have helped inform more than thousands of interested users that search for NFTs on Google.
Community is key, a brand can be reputable and have a large audience but that doesn’t always translate to conversion or success. Prepare your community for what is the future of your project and vision. Make it easy for any user to understand what your brand is aiming for and ensure that on drop day your loyal users are ready to stand by you no matter what.
That being said, another key learning is that Preparation, Marketing, and Momentum, can do so much more for a project than just having a “great” product. In fact, going back to the point of the community, make sure to nurture them and create a social space that is fun and interactive to be within. Don’t expect users to show love to your NFT drop if you can’t show them the love they deserve first!
The NFT space moves quickly and with hundreds of new projects being dropped daily, how does a brand stand out? And why?
Marketability, creating a narrative that is interesting and doable, yet creates the necessary hype to take off.
Use the momentum of marketing and narrative to ensure a successful launch as well as a post-launch scenario.
Another topic that often came up this last year, was the difference between Liquidity vs. Utility in the NFTs space. Some NFTs are meant to be liquidity generating items, such as digital collectibles that can be traded on the secondary market and are appealing to a user due to more superficial aspects such as visuals or collectibility.
Other NFTs offer utility beyond just the visual appeal and collectibility. These will tend to deliver benefits or perks that are only exclusive to holders of that NFT, some of these are explored below in more detail.
Collectibles as a reward
AMC (AMC Stubs)
A great example of NFTs being integrated as rewards is AMC’s, ‘AMC Stubs’ campaign, which saw a collaboration with Sony Pictures to release 86,000 exclusive NFTs. These are obtainable only by select loyalty program members, including Stubs Premiere and A-list programs subscribers. AMC wants to use this opportunity to reward holders as well with potential ticket discount airdrops in the future.
A European FMCG brand created 100 unique versions of their brand mascot. These NFTs are obtainable by spending your hard-earned loyalty points that are earned via product purchases and brand interactions.
Community Access/Limited Membership/VIP Clubs
Gary V’s, VeeFriends, is a 10,255 token NFT project that consists of 9,400 admission tokens, 555 Gift Goats, and 300 direct-access tokens. The main ambition of this project is to create meaningful intellectual property and to create an extraordinary community, whilst providing holders the most value.
When holding a VeeFriend, the owner is privy to a variety of different benefits such as full access to the VeeFriends discord and their extended community, free access to VeeCon + additional tickets for friends/family, additional VIP clubs for more premium VeeFriends.
Burger King (Royal Perks)
The “Royal Perks” rollout by Burger King saw a collaboration with NFT marketplace, Sweet, on a gamified fast-food experience. Customers were able to scan a QR code on each meal box that would reward them with a random NFT that represents a key to unlock exclusive perks.
By collecting all three NFT keys in that set, the customer accessed unique perks such as free Whopper sandwiches for a year, a digital collectible, merchandise, and even a call with one of the collaborating artists on the NFT. Burger King has even explored cryptocurrency giveaways in order to drive engagement and hype for the campaign.
GAP (Gap Threads)
Collect, trade, and fuse GAP Threads collectibles to qualify for a unique collector’s NFT & in real life merch, designed by GAP artists. These Tezos NFTs can be collected or bought on GAP’s NFT marketplace. There are 3 different rarities, such as common, rare, and epic. GAP wants to integrate Gap Threads into charitable causes and collaborations, games, and metaverses.
How To Spend It → HTSI readers can collect different NFT covers by scanning the QR codes that can be found on the physical How To Spend It newspapers on various newsstands around Italy. Once scanning the QR code, the user will have a chance at entering a raffle that if won will reward them with a tradeable version (tradeable on OpenSea) of that magazine cover.
Key Takeaways (TL:DR)
Point 1 = Multiple NFT drops prepped and launched with brands such as Louis Erard, How To Spend IT, CEO Confidential, UNHCR. Integrated NFTs as rewards into our loyalty ecosystem. Delivered key information and knowledge on the topic of NFTs through content pieces that reached thousands of interested users.
Point 2 = Community is the key to any successful NFT project launch, marketing and momentum can take a community further than the best product ever could.
Point 3 = Some of the top use-cases for NFTs that are being explored by a variety of brands such as GAP, AMC, Burger King among others. Include the use of collectibles as a reward, access to limited communities/VIP memberships, unique perks, and tradable/non-tradable NFTs.
The NFT space is constantly evolving and moving, therefore the knowledge and lessons learned over these past 12 months are definitely relevant and a great point of reflection but they are also not the definitive and final answers.
The technology is still new and growing expansively, therefore it is important to stay on top of the trends and always have a keen understanding of what the user is searching for in that moment
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