How NFTs are being used in loyalty programs

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Ever since they were introduced, NFTs have found application in a staggering number of industries. From memes (yes, memes) to art to gaming to haute couture, NFTs are pretty much everywhere now. But apart from the boom of NFT gaming marketplaces, NFTs are quickly becoming vital to yet another field – marketing. Several brands have already successfully incorporated NFTs into their marketing and branding strategies. This has introduced a very interesting use case for NFTs – customer loyalty programs. 

 

Promoting Loyalty

Loyalty programs are pretty simple. The more a customer spends on a brand, the more points they get, which can later be redeemed in a way specified by the brand. NFT loyalty programs build on these traditional ones to lend a layer of exclusivity to the whole enterprise. 

NFTs, being unique and, well, non-fungible, are more coveted by customers. They also come with added utility that can be redeemed. This could prompt customers to buy more in order to get more rewards. One remarkable example is, of course, Starbucks’ loyalty program. Several companies, especially airlines, have also introduced NFT gamification in their loyalty programs. This works particularly well with younger audiences who are excited at the prospect of playing games as a reward for their loyalty.

 

Final Thoughts

NFTs are the next big thing in the tech world. And for good reason. With a plethora of use cases to their name, NFTs have been revolutionizing several industries. Branding, particularly, has received a huge boost as brands integrate NFTs into their loyalty programs. As the tech develops, one can hope that this will be the norm to reward the most loyal customers.

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