Brands can deliver ongoing, programmatic rewards to NFT holders that enhance customer loyalty over time.
SALT LAKE CITY – PicoNFT announced new loyalty innovations in its non-fungible token (NFT) platform that allow companies to attract and engage Generation Z and Millennial customers. The new capabilities let companies deliver ongoing value to NFT holders by assigning loyalty benefits to tokens, which can then be redeemed by the customer.
The new Loyalty Rewards capability allows companies to assign benefits to an NFT without using code – including special discounts, free products, or enhanced services – and to continue delivering value with additional benefits to the token over time. The Loyalty Redemption capability helps brands validate that customers have the correct NFT for the reward, and enables companies to mark the customer’s benefit as “redeemed” by scanning a QR code – with no special apps or logins required.
“The powerful new loyalty capabilities in PicoNFT helps companies drive forward their strategies to acquire and engage Gen Z and Millennial customers,” said Dave Dickson, founder of PicoNFT. “Easy-to-use NFT reward and redemption features eliminate the complexity of delivering loyalty benefits in high-impact NFT programs, and let brands instead focus on building their businesses.”
Loyalty NFTs drive customer engagement
To date, many companies have experimented with collectible NFTs to drive buzz as part of their Web3 initiatives. As the conversation shifts to utility NFTs (with additional benefits), consumers indicate that rewarding loyal customers is the top expectation for utility NFT programs. Of over 700 online U.S. consumers surveyed about Web3, 37.4 percent indicate that they would be more likely to engage with a company if a branded NFT contained the ability to collect loyalty rewards.
Flexible NFT rewards and redemption
The new PicoNFT loyalty capabilities launched today – Loyalty Rewards and Loyalty Redemption – enable companies to easily assign loyalty rewards to NFTs and let customers receive those rewards either digitally or on-site. These rewards can include special discounts, exclusive merchandise, access to special product features, exclusive brand content, members-only events, and more. To facilitate these rewards, the new PicoNFT loyalty features include:
- Reward creation. Assign one or multiple rewards to specific, branded, multimedia NFTs that customers hold in their digital wallets.
- Reward validation. Validate that customers hold the correct NFT and have not previously redeemed the associated benefit (or are within the required redemption guidelines).
- Reward redemption. Mark the reward as having been “redeemed” through a simple, scannable QR code, without special apps or logins for your employees.
- Ongoing value delivery. Deliver continued value to customers over time by enabling new rewards and benefits associated with an NFT.
Flexible, lightweight loyalty options in PicoNFT let companies use NFT programs alongside existing loyalty initiatives as a way to better connect with Gen Z and Millennial customers. These new loyalty capabilities are currently available in an invite-only release for customers.
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
