Recent NFT drops are giving consumers exclusive access to products and services. Brands across industries are leveraging NFTs to unlock consumer loyalty for the next era of metaverse engagement.
Are NFTs the new key to consumer loyalty?
The first NFT restaurant in New York City is in the works. Set to open its (physical) doors in 2023, Flyfish Club will be a members-only restaurant where patrons will pay using cryptocurrency for their membership: an NFT itself. The venue will include an upscale seafood restaurant, a cocktail lounge, and an exclusive omakase-style room for primary members. The membership will potentially stand as a true “asset”: buyers may be able to lease, sell, or use their membership on a monthly basis—a relatively new concept for the dining industry.
Coachella launched an NFT marketplace in February, in which three collections of NFTs will go on sale on February 4th. Each purchase of the Coachella Keys Collection, a group of 10 NFTs, will earn the buyer a lifetime pass to the festival. Purchases will also include exclusive perks for the 2022 festival, including a celebrity chef dinner and front-row access to events.
DJ Steve Aoki announced the A0K1VERSE in January: a dynamic metaverse ecosystem designed for NFT collectors. Powered by the Passport NFT, interoperable across multiple meta-communities, and in partnership with creative studio Manifold, Passport holders will have access to virtual and in-person concerts, early access to NFT releases, private events, and apparel.
Hennessy released its first NFTs
in January for $226,450 each. Each purchase includes physical and digital ownership of the first and last bottles of a limited-edition Hennessy 8 from the LVMH-owned Cognac house. Upon purchase through NFT platform BlockBar, buyers received the digital version of the bottle as their verification of ownership. With it, each buyer can request to have the physical asset—which includes a commemorative sculpture, an engraved Baccarat-blown carafe, a pipette, cork holder, chest and authentication plate—delivered at whim.
PATRÓN also launched its first NFT: a limited edition Chairman’s Reserve, whose ownership rights earn the buyer one of 150 one-of-a-kind physical bottles of the exclusive blend. Available at BlockBar.com, the release is so rare that it will never be replicated again. Sold for 1.5 ETH each (about $4,500) the crypto purchase is secured by BlockBar with a digital record of authenticity and ownership, and the physical product can be delivered, traded or gifted via the BlockBar.com marketplace.
“If you own the NFT, you own the underlying physical asset—often held in custody by a trust company,” BlockBar co-founder and President Sam Falic told Forbes. “Once the physical asset is redeemed from the vault, the token is burned.”
Last July, an NFT web series available only to token holders was released. “Stoner Cats,” created by Mila Kunis and Ashton Kutcher, sold all of its 10,000 NFTs for a total of $8.4 million, 0.35 ETH each.
From fine dining to private events, NFT purchases are unlocking premier access and memberships, bringing a level of exclusivity and extravagance to the digital realm.
Main image of the Hennessy 8 NFT collection sold to Angry Pitbull Club, courtesy of Angry Pitbull Club.
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