NFTs creating modern digital experiences for hotels, casinos & more!
By Anastasia Samaras
The majority of early NFT interactions revolved around the trade of speculative digital collectibles, such as unique profile picture NFTs like Bored Ape Yacht Club and other digital art.
With the first NFT frenzy slowing down, we believe the next generation of NFTs will be focused on utility, fan engagement, and dynamic experiences. One sector ripe for these types of digital memberships and collectibles is the travel industry including hotels, airlines, restaurants, and entertainment venues.
This market is well-positioned to benefit from Upstream’s NFT methodology where NFTs act not just as collectibles, but as redeemable experiences to enrich the user journey and become unique social timestamps in today’s digital age.
Here are some travel industry integrations we’re currently powering or expecting to power in the near future:
Membership NFTs
Membership NFTs grant owners access to online communities, exclusive events, and other perks. By replacing traditional membership cards with NFTs, brands can drive their Web3 community to other experiences and interactions from the moment they arrive.
With blockchain-verified membership, ownership can also be more easily transferable and tradeable on the Upstream NFT marketplace.
For example, Dream Flights International, the luxury brand setting a new standard of excellence for travel by private jet, is selling Membership NFTs with holders unlocking access to Premium On-Demand Charter, Private Jet Experiences, and Exclusive Events: DIGITAL PASSPORT | dreamflightsintlDIGITAL MEMBERSHIP NFT Dream Flights International is the first of its kind to offer a Private Jet Membership in the…www.dreamflightsintl.com
Customer loyalty programs are already widely used in the travel industry to reward loyal customers and those who recommend friends and family. An example of this would be the purchase of a limited-edition NFT in order to become a member. Holders of membership NFTs could receive numerous benefits at the hotel, perhaps discounts, event access, or priority room booking.
By modernizing the membership user journey — brands can provide members the value of having a membership as well as the cachet of being an NFT holder.
Redeemable NFTs
Redeemable NFTs enable buyers to redeem an item or experience while still being able to hold the underlying digital collectible. Upon redemption, the NFT unlocking the experience is replaced with an evolved NFT that can be held as a collector’s item for proof of attendance, continued ownership, and trading.
Redeemable NFTs on Upstream can be chained together to link a series of experiences that can bring holders on an interesting journey. Holders could redeem their first NFT and receive another Redeemable NFT in its place which could, for example, enable access to a particular VIP travel experience. Then another one can act as a voucher for cocktails at a newly opened bar in the hotel, which could then drive guests to a restaurant at the venue. All of these are examples of potential cascading Redeemable NFTs which are able to drive an experience that transcends the physical.
NFTs have expanded beyond the realm of art. Any aspect of a hotel visit or Airline flight, whether a suite package, complimentary services, or a private dinner at a hotel restaurant can be tied to an NFT with all transactions and records of ownership stored on an immutable blockchain.
Ticket NFTs
Ticket NFTs are being leveraged to replace or complement tickets, with ownership verified on the blockchain. Ticket holders can simply flash their NFT at the door or redeem their Ticket NFT and receive a commemorative NFT in its place.
By leveraging Upstream wallets for ticketing, buyers are able to purchase ticket NFTs by scanning a QR code or tapping a link to create a password-protected blockchain wallet. Using their password, customers can seamlessly, fund their accounts using PayPal, debit, credit, or traditional bank payments, and digital currency in the form of USDC.
Ticket NFTs have the ability to bring a physical event into Web3, add additional perks, and create value for the ticket as a collectible. In Web3, your guests’ identities become their blockchain wallet and online presence which can be decorated with digital memorabilia and assets.
Ticket NFTs can be utilized as proof-of-attendance which naturally builds community in person and online. These NFT holders could in turn sell the collectible to fans who missed the event but who want to hold a piece of limited memorabilia and enter the fan community.
For example, SCAN the Goddess recently launched 3 Exclusive Ticket NFTs on Upstream which provides access to the Afganiscan Launch Party. The Utility embedded into these limited edition NFTs enables holders to attend the launch party, receive gift bags, and some even include lifetime access to future SCAN events.
Conclusion
Brands are just beginning to modernize their digital presence through NFTs. NFTs can give customers unique proof of ownership and further access to an exclusive online community with commonality. They go beyond the overt material to provide recipients with new opportunities.
Those interested in bringing Web3 to their digital marketing strategies can contact Upstream at hello@upstream.exchange.
Disclaimers
*NFTs received have no economic value, royalties, equity ownership, or dividends. NFTs are for utility, collection, and display only.
*U.S. investors are not permitted to trade in upstream listed securities. U.S. and Canadian citizens will only be able to trade in security they currently own that has been listed on Upstream for liquidation only.
*Funding using bank payments. For bank payments, complete KYC and initiate a wire or transfer from your bank or financial institution using the details provided via email after your KYC is approved. If you haven’t already completed KYC identity verification or didn’t select ‘Bank’ as the ‘Deposit From’ option when you completed the KYC identity verification process initially, please go through KYC again selecting this payment method. Complete the KYC identify verification process by tapping Me>KYC
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