The rise of the 'Hybrid' Experience might just transform customer engagement strategies entirely.
NFTs have been scrutinized as little more than a gimmick and in some instances, outright denounced as scams. However, as the ecosystem matures, new and innovative applications of this technology are emerging, revealing their potential to reshape how businesses interact with consumers. A particularly intriguing concept surrounding NFTs is their capacity to foster 'hybrid' experiences that seamlessly connect digital and physical realms.
This evolution comes at a crucial moment for the NFT sector, which has recently been perceived as losing momentum. Following a surge in popularity during the crypto boom in 2021, highlighted by numerous headlines, multi-million dollar NFT sales the market witnessed an abrupt downturn last year. By 2022, NFT sales had considerably decreased, with value dropping and skepticism about the technology growing among the public, leading many to believe it was just a passing trend.
The rapid decline in NFT values can be attributed to a surge of scammers and fake artists trying to cash in, flooding the market with mediocre projects and outright forgeries. The NFTs’ bubble burst crash was notable last year, yet the fundamental concept behind NFTs remained resilient.
Recently, NFTs are regaining attention as people begin to understand the genuine value they can offer. NFTs with real-world use cases the focus has shifted from vague and poorly created artworks to NFTs with legitimate real-world applications. These valuable tokens could grant owners various perks, from membership in exclusive dining experiences to autographs from sports figures or even in-game characters. Particularly in the gaming sector, NFTs have created immense value, enabling a fresh genre termed 'play-to-earn,' where players can earn cryptocurrency through gameplay. play-to-earn a new venture is seeking to expand on this idea,
Now, one last year unveiled geoNFTs, digital assets that link directly to specific physical locations. of real-world NFTs. Lost Worlds Inspired by the wildly popular augmented reality game Pokémon Go, geoNFTs motivate users to venture outdoors, navigating their surroundings in pursuit of collectible digital creatures. The Pokémon appeared through an augmented reality overlay, making it essential for players to visit various physical sites, such as parks or shopping centers, to discover them.
for a brief period back in 2016, was one of the pioneering instances of augmented reality gaining mainstream traction, proving its appeal to the general public.
The huge success of Pokemon Go, which became a global sensation Augmented reality was a key component of Pokémon Go, contributing significantly to its phenomenal success. Lost Worlds envisions leveraging this same technology to benefit businesses and brands, especially when intertwined with NFTs. By doing so, Lost Worlds asserts that NFTs can facilitate richer, more immersive, and engaging consumer interactions.
As previously mentioned, it's these NFTs that carry genuine real-world value that have helped sustain the burgeoning industry through the recent crypto winter. In gaming,
GeoNFTs In The Real World
they not only enhance the game experience but also empower players' characters. In a real-world context, NFTs can offer similar advantages. NFTs give players access to the game Lost Worlds’ geoNFTs are linked to specific locales, and to mint an asset, users must physically visit the relevant site. A recent demonstration of this concept took place at the
, where Lost Worlds organized the LOST.NYC experience, distributing NFTs throughout Manhattan and encouraging participants to explore the city to collect them. Those who successfully located an NFT were rewarded with tangible benefits, such as exclusive merchandise or VIP access to special events. NYC.NFT event This concept is something virtually any brand can adopt to elevate consumer engagement. By introducing geoNFTs at key events like festivals and concerts or placing them at iconic city landmarks, brands can create scavenger hunts that blend the digital and physical environments—an ultimate 'hybrid' experience.
Lost Worlds has opened doors for brands to incorporate digital assets into creatively stimulating marketing strategies. For example, a brewery could produce bespoke NFTs and host them at various venues during events like Munich’s festival.
The first lucky ten people to gather the complete set could score a complimentary pitcher of beer. Alternatively, a soccer club might distribute NFTs at each opposing team’s stadium, motivating their fans to travel in support while offering rewards based on the tokens they accumulate over the season. Gather every NFT, and you could have a chance to meet a superstar like Lionel Messi! Oktoberfest NFT enthusiasts don't solely benefit from the rewards they uncover; the entire journey of hunting for these digital treasures redefines how they experience the places they visit. It encourages exploration of locales they might not have otherwise chosen. Additionally, these NFTs could be utilized for philanthropic purposes. For instance, a brand might distribute NFTs during a charity run that aims to raise funds, thereby enhancing attendance and participation.
When executed effectively, these interactive experiences can drive robust customer engagement and support elaborate loyalty initiatives. GeoNFTs offer an exhilarating avenue for brands to capture consumer interest through hybrid experiences.
One of the greatest advantages of geoNFTs is how accessible they are for anyone to create. Lost Worlds has developed an intuitive
Don’t Ignore Hybrid Experiences
that can be easily accessed through smartphones or tablets, eliminating the need for downloads. Users can mint the NFTs they find directly on their devices, even without a cryptocurrency wallet. Minting can be free or come at a cost, and for those charging for their NFTs, Lost Worlds accommodates fiat payment options like Apple Pay and Google Pay, ensuring that users don’t need cryptocurrency to get started. web application Lost Worlds has also implemented robust anti-spoofing measures to deter location cheating through VPNs or GPS manipulation, ensuring fairness in the minting process.
The potential for hybrid experiences that unite digital and physical realities is boundless, limited only by our imagination. Additionally, the reach is vast. In the United States alone, over
attend music festivals annually, making this demographic particularly enticing for various brands. Retailers, eateries, amusement parks, sports franchises, and many more can leverage this captivating new approach to customer engagement. Therefore, anticipate a wave of novel hybrid experiences as more brands begin to harness this technology. 32 million people A Beginner's Guide to DAO Governance Models for 2023
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Disclaimer
In line with the Trust Project guidelines Gregory, a digital nomad originally from Poland, combines his expertise as a financial analyst with contributions to several online publications. With his substantial background in finance, his insights have been featured in various reputable magazines. Making the most of his free time, Gregory is currently focused on authoring a book centered on cryptocurrency and blockchain.
