Native Drop: Is Web3 in? Amazon, Elizabeth Arden, L’Oreal and Renault think so!
We release regular LinkedIn and Twitter content that breaks down Web3 concepts and brand case studies. Here are some of the recent highlights that you may have missed:
Welcome to the new subscribers who have joined us since the last newsletter! We release regular LinkedIn and Twitter posts that break down Web3 concepts and brand case studies that are likely to drive mainstream adoption. Here are some of the recent highlights you may have missed:
Is the future of retail token-gated experiences?
Token-gating refers to the process of allowing access to private products or experiences, based on specific NFTs people hold in their Web3 wallet. Brands like Shopify, Nike and Lacoste are leveraging token-gating to limit access to exclusive products, boost revenues, build hyper-engaged communities and appeal to digital-savvy customer bases.
Token-gating can help brands:
Offer highly personalised and streamlined customer experiences:
Token-gating can eliminate the need for multiple logins within a loyalty system, and allow brands to provide instant access to benefits across different systems.
For example, Lacoste opened its first #metaverse store which included a token-gated room, only accessible to existing NFT holders. When accessing this VIP room, customers could collect and win prizes.
Collect valuable customer data:
By requiring customers to hold a token to access certain experiences, brands can gather insights into their customers' preferences, behaviours, and purchase patterns. This data can be used to personalise future offerings, refine marketing strategies, and optimise the overall customer experience.
Shopify now lets brands build token-gated storefronts, and posits that token-gating can create a sense of exclusivity and community around a brand. By offering NFT holders exclusive access to in-person events, store activations and products, brands can foster deeper connections with their customers.
Build hyper-engaged brand communities:
Brands can leverage token-gating to mobilise their customers around value-adding activities, like user generated content.
For example, Nike has released an NFT-sneaker collection for select users of their .Swoosh platform, called Our Force 1 (OF1), a play on the brand's iconic Air Force 1 design. The NFTs will grant them access to physical and virtual releases, brand experiences and a 3D file that holders can use to design and trade virtual Nike products, around Nike IP. Nike added that items purchased on .Swoosh can be worn in video games and other immersive experiences.
What do you think?
Find the post here.
A spotlight on how Amazon, Elizabeth Arden and Renault are leveraging emerging tech initiatives this week to deliver more engaging, omni-channel customer experiences:
Amazon has announced that they are bringing ChatGPT-style product search to their web store.
This feature is designed to deliver an interactive, conversational experience focused on helping users find answers to questions, compare products, and receive personalised suggestions.
Amazon will also be launching its NFT marketplace this week and will reportedly release 15 NFT collections alongside it. Customers will be able to buy NFTs tied to real-world products, such as clothing. There are also plans to enable customers to play crypto games in exchange for free NFTs.
Elizabeth Arden, owned by Revlon, launched a metaverse store this week, that combines browsing, gaming, and shopping.
The virtual store includes a brand history museum, interactive quizzes about skincare, and lets visitors collect tokens as they browse the site.
According to Forbes, embracing gamification and incorporating play into experiences can enhance customer loyalty, engagement, brand awareness, and revenues for brands.
Revlon's Global Chief Marketing Officer, Martine Williamson, emphasised the aim of the activation was “to engage a new generation of shoppers through digital storytelling and an omni-channel approach”.
Renault is launching 960 NFT-sneakers linked to limited-edition physical sneakers inspired by the R5 Turbo models.
Each physical shoe will have an NFC chip that can be scanned to find a certificate of authenticity and information about the shoe’s composition, materials, and production history.
According to Vogue Business, Gen Z is ushering in an identity revolution, with approximately half of all Gen Z users saying that expressing themselves through their avatar is more important than expressing themselves in the physical world.
Brands that leverage a digital twin strategy can enhance customer engagement, brand awareness and deliver more personalised offerings.
What do you think?
Find the post here.
L'Oreal gets a metaversal makeover
The fine print:
L'Oreal has launched five new virtual hairstyles on Roblox, Ready Player Me, and Zepeto as part of its Gravitas campaign to offer more opportunities for metaverse gamers to express themselves.
The campaign has a multi-platform launch and is projected to reach 234 million people across over 40 million games, with L'Oreal also tying up with CGI artist Evan Rochette and French hair artist Charlie Le Mindu to gauge offline attention.
L'Oreal has been testing the immersive metaverse waters since 2022, with rights to "non-downloadable virtual perfumery" and "hair care preparations and cosmetic body care preparations in a virtual environment."
L'Oreal is the first hairstylist brand to launch direct-to-avatar products across multiple online marketplaces and aims to bring more augmented experiences to the professional industry, CGI artists, and consumers.
Why does this matter?
Web3 as an outlet for self-expression: The rise of gaming and metaverses are resulting in an evolution of our digital identities and self-expression. For example, approximately half of all Gen Z users say that expressing themselves online is more important than expressing themselves in the physical world, and 70% say that they borrow ideas for their physical selves from their avatars.
Designing for inclusivity: While 92% of people consider customisation an essential aspect of creating their virtual avatars, nearly 60% feel that inclusivity is still lacking in virtual worlds, presenting a significant opportunity for brands to meet the evolving needs of younger demographics by offering more inclusive options. By embracing this identity revolution, L'Oreal can truly resonate with emerging and diverse demographics of users.
What do you think?
Find the post here.
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