The future of NFTs in loyalty programs – Tearsheet

In July, CNBC published a story on NFTs cryp-tip-toing their way into loyalty programs. More specifically, the story focused on Hang, a B2B startup that aims to help brands build unique loyalty programs through NFTs.

Hang’s early clients include big names in the food and beverage industry, like Budweiser and Pinkberry. It’s also made deals with names in the music festival industry, like Bonnaroo. 

When it comes to brands’ loyalty and rewards programs, NFTs seem to offer a certain level of flexibility, both for the brand and the customer.

One example Hang’s CEO and co-founder Matt Smolin mentions in his interview with CNBC is customers’ ability to sell their loyalty perks if they choose in an NFT marketplace. Brands could then take royalty percentages for these resells. 

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Author: Traciwininger

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