If McDonald’s is an early adopter of branded NFT, it has quickly been overtaken by other brands. NFT has recently become a field of conquest for brands. There is no way of missing the boat, because NFT tends to be a long-lasting trend for several reasons. A branded NFT, for example, can extend the user experience in the virtual world, give a new status to its users and even reward them.
Brief reminder of what is an NFT
An NFT, in other words a non-fungible token, is a unique digital asset, certified through the Blockchain mechanism. The NFT is by nature a rare and unique good and above all, a non-interchangeable asset. This uniqueness trait for a property is something brands have to harness so that they get more value over their contents. The Blockchain’s secure system will be a barrier against any use of forgery. It is a way for brands to reclaim their intellectual property, which is very often violated by counterfeiting. A brand would have every interest in using the many resources of NFTs in its strategy, in terms of capturing communities and develop brand loyalty.
Five outstanding Branded NFT Experiences
From multinationals to the luxury sector, some brands have been able to reinvent user experiences around NFTs. Here are 5 experiences of branded NFTs:
5- Kendra Scott x Ethereal Woman – Kendra Scott
We’re kicking off this list by celebrating Women’s History Month with an NFT collection aimed at empowering women. Jewelry brand Kendra Scott has teamed up with artist The Mystic to create a very limited NFT collection. For each branded NFT purchased from this collection, the buyer receives a physical Everylyne wristband, offered by the brand. This collaboration aims to proclaim the empowerment of women entrepreneurs around the world. As for the Kendra Scott brand, it’s about giving more visibility to female artists in the NFT sector. Women being very under-represented in Web3, the interest is to make their voice heard and to defend their cause. On OpenSea, these branded NFTs are valued at 0.25 ether each.
- The Kendra Scott brand as a committed brand, which wishes to carry the voice of women entrepreneurs and artists still unknown.
- Value Creation – The jewelries associated with NFTs are considered rare and unique. This gives more value to the brand in the event of an exchange of these NFTs.
4- Aria NFT – Gucci
Gucci has put on sale as its very first unique token, an artistic NFT video format during June 2021. The sale of this NFT video was titled Proof of Sovereignty: A Curated NFT Sale by Lady PheOnix. Co-directed by the artistic director of the Gucci house Alessandro Michele, this 4-minute short film depicts the universe of the Aria collection, bearing the signature of Gucci brand. This NFT was sold for $25,000 and all proceeds from this sale were donated to Unicef USA. The interest was to support Covax, an initiative that promotes access to anti-covid vaccines internationally. In this way, Gucci has shown itself to its consumers as a committed brand, all at a lower cost, by teasing its Aria collection.
Strong points :
- Reinforcement of Gucci’s brand image, which offers a powerful storytelling through this NFT video.
- Promotion of a new product range, teasing the Aria collection using NFT.
- Reinforcement of the “committed” brand image of Gucci, which wants to facilitate access to the vaccine against covid in the world.
3- Keep It Real Meals – Burger King branded NFT
Pairing NFT with reward is a trick any brand should exploit, as Burger King did with its NFT Keep It Real Meals collection. In collaboration with the Trading NFT Sweet platform, the fast-food multinational has, for this purpose, integrated 6 million QR codes on its most popular burger and sandwich packaging. Those QR codes which, once scanned, allow consumers to unlock, collect and trade Burger King NFTs. For the 4th unlocked NFT, the consumer got rewards like a year of free Whopper. As another reward, there was also the possibility of receiving a call from a celebrity who would represent the brand.
Strong points :
- Strengthening brand loyalty by unlocking a multitude of rewards for users.
- The royalties that Burger King will receive in the event of resale of these branded NFTs.
- The creation of a more loyal community thanks to the “exclusive” aspect of owning the NFTs of a brand as popular as Burger King.
2- Collezione Genesi as Branded NFT – Dolce & Gabbana
The Dolce & Gabbana brand has in the same vein thought of a remarkable brand activation through NFTs. For its Collezione Genesi, this Italian label has put 9 NFTs up for sale on the UNXD platform. Holders of these NFTs received in addition to the NFT, the physical items of their NFT and a privileged and exclusive access to Dolce & Gabbana brand events. Everything to captivate consumers and make them love the brand. In addition to successful brand loyalty, the brand has accumulated for this collection the sum of 5.65 million dollars.
Strong points :
- Strengthening of brand loyalty by creating an exclusive VIP club for branded NFTs holders.
- Exclusive and premium rewards system for holders of Dolce & Gabbana NFTs, which reinforces the feeling of belonging to the brand.
- An unprecedented revenue line for the luxury brand.
- The uniqueness of the non-fungible token which certifies the authenticity of the products in the collection.
- Strengthening of the luxury brand image, with a collection stamped NFT, rare, unique and exclusive.
- A phygital NFT collection at the highest quality ready for metaverses of tomorrow.
1- Paris Fashion Week 2021 – Fédération de la Haute Couture et de la Mode
In terms of brand activation with NFTs, the Paris Fashion Week 2021 event organized by the Fédération de la Haute Couture et de la Mode is emblematic. This NFT project was realized in collaboration with the company Arianee, leader in France of NFT especially in the field of luxury. This event made available to all guests an NFT QR code which included many assets: a signed artistic creation by Richard Haines, many other possibilities such as the integration of Augmented Reality during the parades and the pass to participate in the event. This VIP treatment was greatly appreciated by the guests and the press, and due to the fact that the QR code allowing entry into the event was in the form of NFT, it was tamper-proof.
Strong points :
- Reinforcement of the “exclusive” side of the event with the help of QR codes NFT unforgeable: only those really invited participated in the event.
- Extension of the user experience in the real world by the insertion of Augmented Reality technology.
- The user reward system that strengthens brand commitment and loyalty.
- A new dynamic way to hold events in the Fashion industry.
- The strengthening of the premium and luxury brand image of the Fédération de la Haute Couture et de la Mode by the realization of a quality event.
NFTs offer brands a wide range of possibilities. This ranges from shaping the user experience to creating a new revenue line. All in all, it is possible, one way or another, to play one’s cards right by relying on NFTs.