Many traditional brands turned to the world of digital collectibles (NFTs) and explored various approaches to incorporate blockchain technology as part of their business model. In this blog we will look at four different ways how brands like Dolce & Gabbana and Tag Heuer have created a digital customer experience with NFTs.
Combining digital and physical
In August 2022, Dolce and Gabbana made their entrance into the world of Non-Fungible Tokens (NFTs) by seeking to combine a digital experience with physical collectibles. In collaboration with the NFT marketplace UNXD, they released their “NFT-first” collection titled “Collezione Genesi”. Out of the nine pieces in the collection, five collectibles were accompanied by custom physical pieces, and four strictly digital. The dress in the picture above sold for close to $300,000, the total collection raked in around $6 million.
Taking a gamified approach
In celebration of its late founder’s 200th birthday, Louis Vuitton released a mobile game for Apple and Android called “Louis the Game”. The goal of the game is to explore virtual worlds with the main character Vivienne and collect 200 birthday candles. As part of the game, players could find a total of 30 NFTs which were designed by Beeple, who is one of the most successful digital artists after selling an NFT for $69 million through an auction at Christie’s.
Leveraging strong Web3 brands
The Swiss luxury watch brand TAG Heuer took a different approach for their smartwatch “Connected Calibre E4”. The brand developed a feature which allows users to connect their digital wallets (which store their NFT collection) to the watch to display collectibles such as Bored Apes and CryptoPunks, which are among the most expensive NFT collections, as a watch face. Tag Heuer collaborated with some of the strongest Web3 brands to leverage the impact of this feature and make it a viral story.
Driving scarcity on top of scarcity
Tiffany & Co expanded into NFTs by leveraging what they do best as a company: designing ultra-limited and luxurious jewelry. Tiffany sold their “NFTiffs” collectibles priced at 30 ETH ($50,000) catered to CryptoPunks holders. Buyers could use their Tiffany NFT to have the company model a custom jewelry piece after the CryptoPunk they own. There is a total of 10,000 CryptoPunks, but the luxury brand added another layer of scarcity on top of it by limiting the “NFTiff” to 250 editions.
The above examples give a good overview if how different international brands used the blockchain to leverage their strength, ultimately allowing them to target new customers and generating additional revenue. For traditional brands, the opportunities blockchain provides is immense. To find out more about the power of NFTs, subscribe to our newsletter and get a full report on the different use cases as well as additional case studies.