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Michelin enters Web3 with the “Michelin 3xplorer Club”

METAV.RS / Michelin enters Web3 with the “Michelin 3xplorer Club”
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Michelin might be a B2B company but it has been super successful in establishing itself as a beloved brand by all its consumers. Apart from being recognised for its iconic Michelin Guide and its contribution to the automotive industry, Michelin has now been making headlines with its recently launched Web3 club, the Michelin 3xplorer Club and its first NFT drop. 

Innovation at the Heart of Their Web3 Community

For decades, Michelin has been a historic brand that balances tradition and innovation in serving its customers. It applied the same level of innovation when it came to creating a global customer preference for their brand by launching the Michelin 3xplorer Club.  The Web3 exclusive club was aimed at connecting more with Gen Z and, in turn, generating more revenue for the company. It does so by paying homage to Michelin’s storied past while paving the way for a digital future and allowing the young generation to discover Michelin’s rich history in a unique manner. When asked about Michelin’s ambitious foray into Web3, Teo Bertrand, Head of Web3 at Michelin, explained, “Our goal is to create a genuine connection with our community, introducing them to everything Michelin has to offer, especially beyond tires, and co-building the brand’s future in Web3 with them.”

For the launch of the club and the subsequent release of their NFT, Michelin teamed up with specialized entities in this field. While Bulldog handled all related communication, Goeland Studio was responsible for NFT creation and NfinityLabs oversaw community and partnership management. The tech behind the idea was provided by METAV.RS and was responsible for deploying the NFT Collection. 

Let’s take a closer look at the timeline of this successful launch, which started on October 13th, 2023 when Michelin 3xplorer Club’s website went live.

Release of Michelin Man NFTs 

October 16th marked the release of the first NFT collection. 5,000 NFTs were made available for minting and were priced at 0.05 ETH. The digital collectibles were based on the likeliness of the infamous Michelin Mascot aka Bibendum and thus enabled the NFT owners to forever hold onto  a piece of Michelin’s heritage. The mint schedule included 3 phrases i.e whitelist, allowlist and public and to maintain exclusivity, had certain restrictions on the minting allowance per wallet.

Michelin NFT mint

The mint page was live for 72 hours and saw over 2400 NFTs minted in that time period. The NFT release was also included in the TOP TRENDING collection on Opensea. The NFT sale had a value of 120 ETH (250K$) and Michelin was able to achieve its goal of increased revenue generation. The secondary market also saw a total sales volume of 200 ETH which is equivalent to over 400K$. At the time of writing, on Opensea, the Michelin 3xplorer Club has a secondary volume of 255.02 ETH and a current floor price of 0.3 ETH, a 500% increase in pricing from the initial floor price! In terms of numbers, it wouldn’t be unfair to call Michelin’s first NFT collection a tremendous success.  

Reveal of Associated Utilities

To further strengthen their relationship with their customers, Michelin announced that every Michelin NFT holder, through giveaways, regular draws, or their activity within the community, would have the opportunity to partake in unique experiences and obtain digital benefits. 

Michelin's roadmap to their NFT club

In November itself, just weeks after the NFT release, Michelin revealed the first few benefits that included a Raffle for Michelin Days, an opportunity to claim a free Heritage Poster, a tour of their digital Museum and also platinum tickets for GT World Series Finals 2023 in Barcelona. Infact, for the first immersive experience, 17 NFT holders got an all-inclusive trip to the Michelin Headquarters in Ladoux, France. The second assigned utility went one step further and gave the raffle winners access to a 3-day all inclusive visit to the MotoGP in Valencia, Spain. 

All the associated perks received rave reviews on social media and Michelin’s Discord Community. Michelin 3xplorer Club’s Twitter page currently boasts of 13.5K followers and their discord community is quite active as well. 

Web3 Collabs to Increase Visibility

Amongst other things, Michelin has been quite clever with its plan to establish a strong Web3 presence. The brand ensured that it collaborated with multiple prominent Web3 companies to maximize brand visibility and awareness. Firstly,  Michelin collaborated with Zealy, a Web3 onboarding platform that offers gamification opportunities. While some raffle winners are selected randomly, a few raffles are exclusive for people at the top of the leaderboard. Michelin’s NFT owners have to complete as many quests as they can to make it to the top of the leaderboard thus creating more customer engagement with the brand. 

Michelin also teamed up with Genuine Undead, Mad Lads, Project Godgira and Dark Echelon who all contributed custom traits to make a few select Michelin NFTs more rare. In end of November, the tyre brand disclosed a partnership with FIAT Pass wherein the NFT owners would get exclusive access to FIAT’s whitelist. Sony Music France also offered 20 free NFTs from their collection, Sunny B. 1991, to Michelin’s community. Michelin has multiple other experiences and perks coming up in 2024 and plans to strengthen its relationship with both the Web3 audience and its more traditional Web2 community through its Web3 club and future NFT Drops.

If you are considering deploying your own branded NFT collection, METAV.RS is your tech solution, just like it was for Michelin. METAV.RS is a white-label solution, capable of not only deploying NFT collections but also efficiently managing NFT utilities and deploying web-based Immersive 3D Experiences. This comprehensive approach ensures a seamless and engaging experience for users.

Read about our NFT club launch for Le Bristol, Paris: Le Bristol: First Hotel in France to Launch a NFT Collection