Nike and Starbucks show how brands are rethinking NFTs
“NFT” is not in the fine print of Starbucks’ Web3-style rewards program called Odyssey. The terms of service refer to “non-fungible digital tokens” once, and then call the digital rewards “Stamps.” Nike’s high-tech .Swoosh community calls NFTs “virtual creations.”. For many people, words such as NFT, crypto and blockchain, induce eye rolls.
Vayner3 works with brands including Budweiser and Pepsi, and it has produced NFT collections, blockchain-based games, and loyalty programs tethered to Web3 technology. Vayner3 also is an example of how the agency world is reframing the conversation, changing its name from VaynerNFT last year. The soft rebrand was partly due to the shifting attitudes around NFTs. The public has a love-hate relationship with NFTs, or non-fungible tokens. Web3’s earliest adopters were sold on the technology, while others recoiled. Many gaming communities, for instance, blasted studios that dared to mention interest in NFTs.
Source
@Facebook_Metaverse_Nfts
