24.04.2022

How Can Brands Get into Web3?

How Can Brands Get into Web3?

Fayre wants to make Web3 accessible to brands and their fans, using our own custom-designed tools and platforms. This is just the latest — and most exciting — stage in the digital development of brand communications.

Brands and Web 2.0

In the online revolution of the 1990s and 2000s, with Web 2.0, brands discovered how the internet could provide global visibility, allow them to establish their online identity, and keep fans updated on their news.

Then Social Media further reshaped the relationship with fans. Brands could grow their communities organically; users bonded both with their peers, and with the brand. These brands engaged more effectively with customers, in terms of both satisfaction, increasing loyalty, and financial results.

Brands and Web3

Web3 isn’t the far-off, distant future. It is here now, bringing richer, more multi-faceted, immersive engagement, with innovative digital assets and virtual experiences.

Fans are already spending time in digital environments, but may be spending their money with brands that have a Web3 presence, rather than their long-term favourites. To keep these fan interactions within the same brand family, they need to be provided with innovative digital products and benefits, so that the brand retains their loyalty, assuming a new role as their gateway into the Web3 world.

For fans, the brands using Web3 stand out clearly as cutting-edge. Leading the new generation of fan engagement, these names will be renowned as being at the forefront of digital consumer trends.

Brands can engage with fans using Web3 in countless ways, such as virtual events, digital merchandise, and immersive experiences.

They can launch virtual properties in the metaverse, granting access as an exclusive benefit for NFT holders, like a members-only club; enable Play2Earn, Learn2Earn, Share2Earn, incentives; and merge digital retail with real-life and ecommerce experiences in a physical-virtual fusion which will become part of our everyday lives.

Web3 and Fayre

Now, with Web3, Fayre can help brands to move into the brave new world of NFTs and the metaverse, taking the brand-fan relationship to the next level.

Whether brands and their customers are familiar with the latest buzzwords such as NFTs, metaverse, AR, VR and crypto wallets or not, Fayre has the expertise to present these concepts in simple terms, streamlining the move to Web3.

Fayre offers a space where brands can engage with fans and build loyalty, using NFTs — without either party needing technical expertise to use these digital assets.

How Fayre Dashboard helps brands The Fayre Dashboard enables brands to easily create and manage NFTs, enhancing and broadening their relationship with users.

NFTs can be sold or dropped, free or at a minimal cost, to existing fans and customers, offering exciting new experiences and types of engagement to the next generation of consumers and fans, whether tech-savvy, or new to the NFT and crypto space.

Using the Dashboard, brands can communicate with users, explaining to fans how they can utilise their NFTs, and defining user benefits for holding tokens. Brands can also track NFT activity by observing how tokenholders are using their digital assets. Additionally, they can reward user actions, to show their appreciation for users’ engagement.

One of the most important benefits of NFTs is that they can bridge the real and digital worlds, connecting fans to physical retail — for example Allkind Vegan (see below).

From an economic standpoint, brands themselves can monetize their assets by selling additional merchandise, products, services and content as NFTs. They can use NFTs to raise capital to fund innovative digital and physical products, and create decentralised loyalty programs which offer new, ongoing digital asset revenue streams, thereby engaging high -value audiences.

How Fayre Marketplace helps brands

Our Marketplace is purpose-built for brands and fans, offering facilities for drops, trading, and more. It is reliable, affordable, and simple to use.

Brands and fans using our Marketplace are protected against fraud by having verified drops only, with curated collections. Ethereum and Polygon networks are both supported, and there is the opportunity to pay either low or no fees, as well as to earn $FAYRE.

Brands which benefit from Fayre

In terms of sports partnerships, our hugely successful relationship with La Liga club RCD Espanyol uses innovative NFTs that seamlessly connect the digital world and real-life experiences for Espanyol fans. The NFTs will provide fans with exclusive access to certain elements in the stadium, the team and many other benefits to be announced soon.

We also have partnerships with two other sporting organisations, namely the International Professional Pool Association, whose digital content is available through Fayre-produced NFTs, which also enhance fan engagement; and the North American Rugby League, with whom we are developing esports solutions for targeting new fans, as well as other benefits such as in-stadium activations.

Other sporting organisations, events, and championships with global audiences and strong fan bases include basketball, baseball and motorsports.

For the fashion brand AllKind Vegan, Fayre is creating metaverse versions of their shoes, and linking this digital footwear to Allkind’s Shopify, so that customers can get a physical version as well when they buy digital.

Fayre is currently in discussion with a number of brands, and new partnerships are being announced all the time. Fayre aims to remove barriers to entry for brands into We howb3, thanks to its easy-to-use platforms. Everyone is welcome to join us on this journey into the next era of fan engagement.

Share: