How NFTs are Redefining e-Commerce

How NFTs are Redefining e-Commerce

NFT pizzas and tacos? Who would have thought NFTs, which started as digital art, would disrupt the e-commerce industry as well.

NFTs build communities, and community strengthens a brand. That’s why several top brands, such as Nike, Adidas and more, are now using NFTs to connect with their customers.

This innovative marketing technique not only provides exclusive benefits to fans, but also drums up engagement around new productsmaking brands more approachable, collaborative, and even open-sourced.

Wondering how NFTs help increase sales of your e-commerce store? Take inspiration from these top brands and how they use NFTs in creative ways.

1. Create an exclusive digital store.

NFTs can deliver a distinctive brand experience, even in the virtual world. 

Nikeland is proof that e-commerce sales can be generated in several innovative ways. The virtual world, built on Roblox, has millions of visitors every month. Gamers can style their avatars in Nike gear and buy several virtual goods from Nike itself.

Nike’s digital sales now make up 26% of its revenue.

2. Generate a pre-launch buzz.

Creating buzz before a new product is released continues to be a top priority for every brand. 

Brands can use NFTs by setting up a limited pre-sale drop of physical products that are connected to certain NFTs. The tokens adds value to the marketing push and marketers can observe consumer interest. 

Flowers for Society, a sneaker company, made its initial product drop available through pre-order, associating each item with an NFT.

3. Offer loyalty programs.

Loyalty programs are among the most obvious NFT applications for eCommerce stores. Companies can offer their clients tokens for a variety of benefits, including discounts, early access to new merchandise, access to exclusive communities, and entrance to events. 

Dolce and Gabbana gave their customers a loyalty program experience when the brand unveiled the physical, digital, and immersive Collezione Genesi NFT collection. Owners of this collection receive two years of access to Dolce & Gabbana events in addition to a customized physical and digital dress.

Final Take

The potential use of NFTs for e-commerce is positive: it offers greater security, special advantages, and improved customer service.

With e-commerce NFTs, you can upsell value-added packages, and offer the immediate gratification of a virtual equivalent of a physical purchase. You can also eradicate forgery and counterfeiting of your products. Overall, NFTs are a clever approach to preparing your company for the future.

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