If you don’t understand what NFT monkeys are and what they are for, let’s try applying the technology to furniture, sports clubs, and entertainment.
Lately, NFT has been presented as the face of expensive painted monkeys and penguins. But the potential is much greater: with NFTs, almost anything can be turned into a game and thus drive the desired marketing results. Think about the Pokémon psychosis. Adults used to drive tens of kilometers to get a “rare Pokémon” on their phones. If you didn’t do that, did you collect anything as a child? Many people have this need to collect something all their lives. You have heard of rare baseball cards, right? Even now, the seemingly untouchable numbers on your phone screen are so connected that you wouldn’t sell some cryptocurrencies for anything, would you?
Mechanisms to engage and motivate potential buyers and customers
Let’s say you are a new “Vilnius resident” (capital of Lithuania) who has come to study and live in the capital. You are the “raw meat” for a number of brands that want to satisfy your very predictable needs. You will likely need some furniture because you will be living in a new home. You will also likely need to choose a grocery store, a favorite café, a clothes shop, a sports club, an internet provider, and even transport. I think all major brands would be quite willing to sell you a package of services. In the past, this would have been almost impossible. Different internal systems, reluctance to share data, different advertising and loyalty programs all lead to a dead end. Now imagine these service providers joining together to create a “City NFT” or something similar.
Consumers who purchase them would generate revenue for all participating service providers and would be included in a virtual community where you could take part in a Metaverse sports club tour, meet the coaches, look at the furniture, the telephones, participate in auctions for services, and, of course, find out how you can get products or services from each service provider with an exclusive discount. And I’m talking about the package that you choose by paying upfront. If you were not interested, for example, in McDonald’s or IKEA, they would not be in your basket. As an incentive to buy from two or more City NFT brands, it is possible to offer the user a cashback of Bitcoin or other coins funded by the NFT Revenue Fund. offer.
Most previous attempts have not reached their full potential. Efforts have been hampered by a cumbersome proof-of-purchase mechanism and the lack of a currency to motivate behavior.
What if their customers could design their own “NFT WALLET” and link it to their store cards, such as IKEA, KFC, or Dodo Pizza? This type of proof of purchase could be easily adapted to different brands. With transaction data and a broader customer profile, any of the participating brands can be encouraged to try a new or old service. And the addition of cryptocurrencies, with the possibility to sell them or the potential to accumulate value, could be a new game.
As you visit each location or use a service, you can collect NFTs, which can be authentic digital souvenirs that help enhance the travel experience and give you priority access to places where others can’t go, unique experiences, special offers, and more. In addition, cryptocurrencies provide a whole new fundraising mechanism for non-profit organizations. Therefore, I believe that the potential of NFTs has not even begun to be exploited. Of course, technology and its consumerization are still at a very early stage. However, things are moving very fast, and this is being driven by huge injections of investment capital. So, the next time you put your finger to your temple when it is announced that a monkey has been sold for millions, you had better think about what this technology promises in the future.