In a keen endeavor to transform the relationship between artists and their dedicated fanbase, combining physical and digital experiences, the concept of non-fungible token (NFT) rewards is gradually taking center stage. For instance, earlier this month, at a concert by former One Direction band member Harry Styles, fans were invited to use the event app, EVNTZ. They were provided the opportunity to establish a self-custodial digital wallet, potentially becoming the storehouse for future blockchain-based benefits.
In association with Co:Create – a Web3 infrastructure organization, the event was enabled through its API connecting with Polygon, a popular Ethereum sidechain. Kimberley O’Callaghan, EVNTZ’s founder, revealed that five thousand out of the eighty thousand concert attendees claimed wallets via the app that recorded over one hundred thousand unique interactions. Not only did the app serve as a consolidated platform for booking transportation, sharing photos on social media, and purchasing merchandise, but it also hinted at upcoming in-app rewards tied to fan community collaboration.
O’Callaghan’s vision is to empower the emerging generation of music enthusiasts with a range of Web3-based reward features. The central idea is to envelope fans with superior experiences as a payback for their unwavering loyalty. By 2024, O’Callaghan aims to extend these experiences for other artists as well.
The objective is to introduce fans to the ins and outs of blockchain technology effortlessly, with no prior groundwork. Brands may utilize EVNTZ APIs without needing to fathom the underlying complexities of Web3. Fans, too, can enjoy this streamlined experience as all technical elements are kept under wraps, providing an enhanced user experience.
The argument supporting this venture arises from the gap identified in the events industry, where fans are often not rewarded meaningfully for their dedication. With blockchain-driven rewards, O’Callaghan believes new opportunities can be carved out for artists and their followers, bridging this gap.
Tara Fung, CEO of Co:Create, validates this viewpoint, highlighting the benefits of on-chain experiences in facilitating transparency and streamlining brand-to-fan interactions. She further emphasizes how fans can utilize blockchain tools to influence their preferred brands’ direction and get rewarded in return.
Such initiatives promoting NFT utility are indeed making strides. For instance, in March, Polygon collaborated with Salesforce on a CRM project to help clients devise Web3 loyalty programs. Expectations are high with this innovative approach combining fan engagement and NFT benefits, hinting at an exciting future for blockchain applications in the entertainment industry.
Source: Coindesk
