In the world of retail, brands are always looking for ways to connect with consumers and give them something unique. From loyalty programs to special offers, there are a lot of ways that brands can incentivize shoppers to come into stores and buy more products. But what if a brand could connect directly with its customers in a way that was completely transparent? That's where NFTs come into play.
Adidas NFTs are the latest example of how brands are embracing blockchain technology to better connect with consumers.
Adidas is the latest entrant into the NFT marketplace. The German sportswear brand has recently launched its own branded non-fungible token (Adidas Originals), available for purchase on the Ethereum blockchain.
Adidas Originals: Into the Metaverse NFTs allow holders to access physical merchandise and virtual land experiences.
Adidas is partnering with Bored Ape Yacht Club, Pixel Vault and gmoney to offer fans the iconic adicolor Firebird tracksuit (track top and pants), a graphic hoodie that appears in Punks Comic #2 as well as gmoney’s classic orange beanie.
The primary purpose of adidas Originals: Into the Metaverse is to allow users to access exclusive products.
In March 2022, Adidas Originals: Into the Metaverse added new information to its roadmap—including an upcoming pfp (profile picture) NFT release and surprise airdrops.
In April 2022, Adidas Originals launched a personality-based avatar creation platform in collaboration with Ready Player Me—a cross-app virtual reality tool that uses AI to generate avatars.
Adidas wants to make its products more rewarding for customers by creating NFTs that offer a range of experiences and can be used in multiple situations. The company hopes this will help build stronger relationships with their customers.
It’s unclear if Adidas plans to offer more NFTs in the future, but it teases on its website that “this is just the beginning.” Given how quickly the first batch sold out — and how much money Adidas made in just a few hours — it seems unlikely this will be the only NFT offering from the apparel maker. And it will almost certainly want to compete against archrival Nike, which just bought a company that makes virtual shoes and NFTs. - The Verge
Brands are looking to add more value to their customers' purchases.
An NFT is a digital representation of a physical asset (or even a non-physical one) that can be traded on the blockchain as an ERC-721 token. Because these NFTs are tokens and not shares, each one is absolutely unique: with every transaction comes the possibility of creating something new and exciting for fans who love collecting things—whether they're trading cards, sneakers, or watches, brands are looking to add more value to their customers' purchases by incentivizing them with NFTs.
NFTs offer several advantages over physical assets: they are easier to transfer, can be traded internationally, and their existence on the blockchain makes them easy to trace.
There is a growing interest from mainstream brands in NFTs.
There has been a surge in demand from mainstream brands for involvement in NFTs, and one of the main reasons for this is that they are adding value to customers' purchases through tokenization.
NFTs make it easier for brands to connect with their customers. When a customer buys an NFT, the brand can communicate directly with them by sending out offers, updates and more. This is a great way for brands to build stronger relationships with their customers, which is something that many brands want to do right now.
Another reason why NFTs are popular is that they give consumers a chance to own something tangible.
The ability to buy and sell NFTs offers incentives.
NFTs offer retailers the opportunity to create a community around their brand and reward customers for their loyalty. Through NFTs, brands can build closer relationships with customers through digital collectibles that can be personalized and customized.
By rewarding customers who interact with a brand in a meaningful way, NFTs have the potential to help companies develop deeper connections with fans who may be more likely to pay attention to what's happening with a brand.
It's important to note that NFTs can be used for more than just brand loyalty. They can also be used as an incentive for consumers to take action and participate in specific campaigns, such as raising funds for a cause or participating in a product launch event.
Blockchain is reshaping the relationship between brands and consumers.
NFTs are reshaping the relationship between brands and consumers. So many retail companies are getting involved with NFTs, allowing brands to engage with fans in new and interesting ways.
In an age where social media has become one of the most important marketing tools for businesses, NFTs are a way for brands to interact directly with their customers on a much deeper level.