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NEWS & INSIGHTS

NFTs for retail brands

#Web3 #Ebook
author
BY Emma Glazier
Head of Marketing
1 Nov 2022

Excerpt from Crowd’s new Your Brand in Web3 Project. Download the full magazine here.

Jay Still has some strong opinions on adoption of blockchain in retail. He’s been working in the area for five years with Blockpool.io, and now his big stage XR venture, This Is Wonder, is also using the technology. 

“The whole area is underserved,” he says. “People are missing the point. They have got to get out of the impression that an NFTs is going to make you millions of pounds from a jpeg.

“Much more interesting are things like using blockchain to turn retail on its head. Rather than pushing people online as a cost saving, you can push people back to shops.

“It’s about activations around someone entering a specific location. You need to make that an experience. 

“There are things like two-for-one offers or discounts through a token or an NFT. When someone enters your shop, you can geofence that shop and reward them once again while they're there.

“Flannels’ flagship Oxford Street store is an interesting example. Last year they covered the whole outside from pavement to roof with LCD screens of artwork. 

“That shows you where the dynamic of the shop window is now. It's not actually about promoting the clothes that you're selling in the shop. It's about the brand drawing the customer in.”

Want to know about how blockchain is changing retail? Download the Crowd Web3 Magazine here

 

Emma has been leading specialist digital teams in different global markets to deliver a world-class product for clients. She has experience across travel, entertainment, automotive, retail and consumer electronics sectors.

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