Web3 technology is becoming more and more popular everyday and gives brands the opportunity to engage with their customers in unique ways. But first of all, for the people who are new to Web3, I have made an overview in the picture below to get a better understanding of what we are talking about.
Digital collectibles
Now that you understand the fundamentals of Web3 it’s time to learn more about the opportunities these technologies have to offer. In simple terms an NFT can be seen as an asset that is stored on the blockchain. They cannot be exchanged or traded equivalently like other cryptographic assets. A digital collectible uses the technique of an NFT to create a unique or limited-edition copy of a virtual item.
There are several ways how brands can use digital collectibles to improve customer loyalty:
- Rewards programs: Brands can use digital collectibles as part of a rewards program to encourage customers to make purchases and engage with the brand. For example, a company could offer a digital collectible for every $100 spent on its products, or it could offer a rare collectible as a reward for reaching a certain level in its loyalty program.
- Limited edition releases: Brands are able to create limited edition digital collectibles that are only available for a short period of time or in limited quantities. You are creating exclusivity for your brand and encouraging collectors to act quickly to get their hands on the collectible.
- Collaborations: Brands can partner with other companies or organizations to create limited edition digital collectibles that are only available through the collaboration. This can help to generate buzz and interest among collectors and can also help to raise awareness for both brands.
- Social media campaigns: Brands can use digital collectibles as part of social media campaigns to engage with their followers and encourage them to share content and interact with the brand. This can help to build a sense of community among collectors and can also help to drive traffic to the brand's social media channels.
- Community: You are creating a community with the holders of your digital collectibles. You can give the holders unique, one-of-a-kind brand experiences.
Overall, digital collectibles can be a powerful tool for brands to improve customer loyalty by providing collectors with unique and desirable items that they will want to collect and keep for a long time.
Use case: Clinique’s launched their first collection of digital collectibles that ties to loyalty and products as uses expand. Estée Lauder-owned Clinique joins a handful of other brands diversifying non-fungible tokens, from being collectors’ items to including loyalty rewards and physical product perks.
Start selling your own digital collectibles
In order to sell your collectibles you need an NFT-marketplace. There are several reasons why you want you want to sell the digital collectibles on your own marketplace:
- Direct relationship with customers: By creating their own NFT marketplace, brands can establish a direct relationship with their customers and interact with them directly.
- Control over branding and content: By creating your own marketplace, brands have more control over the branding and content of the marketplace, which can help to ensure that it aligns with their overall marketing and branding strategy.
- Increased revenue: Brands can generate revenue by selling NFTs on their own marketplace, either through one-time sales or through ongoing subscription or membership models. This can be a new source of revenue for the brand, and it can also help to drive traffic to the marketplace.
- Data collection: Brands can collect data on their customers, such as what types of digital collectibles they are interested in, how much they are willing to spend, and other factors. This data can be used to inform your brand's marketing and sales strategies.
Authic - A powerful all-in-one solution
Our white label NFT-marketplace has all the features you need in one place. Start integrating Web3 into your business now without the technical hurdles. Every asset safely stored on the Ethereum blockchain without even knowing it.
Mastercard/VISA, ApplePay, iDEAL, Ethereum
We know that crypto is challenging for people without technical knowledge. On top of that, the fluctuating crypto market has its risks. Our white-label solution makes the payment process as easy as possible for your customers.
KYC/AML tools integrated
Many companies are not aware of the legislation and procedures around crypto. In every country it’s different. If there is need for KYC/AML, our tools ensure that you are only doing business with people that have been verified as being trustworthy. We got your back!
Minting procedure
Authic is supporting ERC-721 and ERC-1155 contracts which gives you the possibility to sell limited edition collectibles or multiple editions. Lazy minting is enabled, this means when a collectible is available off-chain it only gets minted once a sale takes place.
Creating a wallet has never been easier
We are supporting custodial and non-custodial wallet. If your clients are familiar in Web3 they are able to connect their Metamask, WalletConnect or Coinbase wallet. If they are new in the Web3 space, they can easily set up their own wallet through a link in their email.
You are just one click away to help you take your brand from great to incredible!
