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Vancouver, British Columbia–(Business Wire—NFT Technologies Inc. (NEO: NFT | OTC Pink: NFTFF | FRA: 8LO) (the “Company” or “NFT Tech”)., Today, a leading technology company announced its entry into the loyalty and rewards market, partnering with top brands to accelerate their entry into the Web3 world through innovative technologies and unparalleled innovation.
The global loyalty market is worth $7.8 billion, and NFT Tech is poised to use NFTs to fuel future loyalty programs. Loyalty programs come in many forms, and as brands look for ways to get closer to customers and fans, loyalty programs are poised to expand at a 10.5 percent compound annual growth rate (CAGR) from 2022 to 2030.
“Loyalty programs are gaining importance in every business and becoming essential to business success. The market is huge, and loyalty programs are a part of everyone’s life at one point or another. Starbucks is often seen as a leader in the loyalty space, with more than 24 million customers actively using their program – representing more than 50% of their customers,” said NFT Tech CEO Adam De Cata.
Despite their popularity, loyalty programs today have many problems and problems. Customers are sick of carrying multiple rewards cards in their wallets, and question the use of their personal data and the true benefits of these programs. In fact, KPMG found that 38% of people reported a problem with their loyalty program in the past six months.
To address these issues, NFTs may fuel future loyalty programs. NFT use cases in the loyalty and rewards industry include:
When NFTs pass loyalty membership – NFTs can serve as an access point to a brand’s loyalty program and specific tiered or individual benefits or perks, such as a gym membership. With a gym membership, benefits can be added based on how often the user goes to the gym, promoting a healthy lifestyle similar to Fitbit’s step rewards.
Closed Access – NFTs can act as checkpoints for special services, product releases, and NFT-owned content. Tokengated trading can also take advantage of future NFT releases and airdrops, as well as exclusive access to community channels, in-person events, and retail store activations. For example, an online store may only allow users to add an item to their cart if they already own a Loyalty NFT.
Use of Blockchain – NFTs can be used to confirm product ownership, reward transactions, gate membership access, gamify engagement, or represent a customer’s unique profile within a brand (loyalty) community.
Personalized rewards – Each NFT is certified as unique. This creates an enhanced sense of individuality and hence value. So brands can use NFTs to identify their customers in a better, more personalized way. An NFT may unlock specific individual rights, for example specific benefits within the program may only have one or two levels of exclusivity.
“We are excited to bring Web2 brands into the blockchain space and explore the use of NFTs with their existing loyalty programs,” continued Adam. “I’m excited to start announcing new partnerships and brands in brick-and-mortar retail, for major sports organizations. NFTs have a significant advantage in this space and have the ability to reduce the amount of customer loyalty programs by directly tying rewards activities to customer activity.
About NFT Tech
Publicly listed on NEO as $NFT, NFT Technologies (NFT Tech) is a company that partners with top brands to accelerate their entry into the Web3 world with innovative technologies and unparalleled innovation. By working with established brands and intellectual property, NFT Tech leverages a loyal customer and fan base to gain future credibility in the Metaverse and Web3 sphere.
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A cautionary note on forward-looking information
This press release contains certain forward-looking statements within the meaning of applicable securities laws relating to the Company. These forward-looking statements are generally characterized by words such as “believe,” “project,” “expect,” “predict,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan.” ,” “may,” “will,” “will,” “will” and similar expressions. Forward-looking statements in this press release include statements related to multi-year agreements, partnerships and contractual goals. Revenue and pipeline projections; recurring revenue models; from mentioned partnerships. and agreements; the Company’s NFT developments and expansion of product offerings; potential benefits and needs of direct-to-consumer NFT projects; potential benefits, growth and adoption of Web3 and related applications; plans to accelerate growth; and continued public acceptance of NFTs. Even if the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, you should not place undue reliance on such forward-looking statements and information because the Company makes no assurance that they will prove to be correct. They inherently involve risks and uncertainties. Many factors could cause actual material differences from the forward-looking statements in this press release, including, without limitation, the risks described in the prospectus. Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release The forward-looking statements and information contained in this news release are expressly qualified by this cautionary statement It is accurate as of the date hereof and the Company undertakes no obligation to publicly update or revise any forward-looking statements or information as a result of new information, future events or otherwise. , unless required by applicable laws.
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