Wow Bao Created a Next-Gen Loyalty Program with Digital Collectibles
Laura McQuarrie — June 5, 2023 — Marketing
References: hotbunsclub.wowbao & prnewswire
Fast-casual Asian concept Wow Bao commissioned NFT artist MANOVERMARS, also known as MoM, to create NFT-based digital collectibles. As such, Wow Bao is the first virtual restaurant to combine a web3 integrated loyalty program with a traditional rewards program. Geoff Alexander, President & CEO of Wow Bao, says "By creating a digital collectible club, Wow Bao is leveling up the everyday loyalty program, and welcoming all diners to the future."
For brands, NFTs provide a unique opportunity to engage with their audience using digital assets that can be bought, sold and traded on blockchain platforms. This not only opens up new revenue streams but also enhances brand loyalty and establishes a direct connection between brands and their most passionate fans. For consumer-collectors, NFTs offer a sense of ownership of exclusive digital items, proving authenticity in the digital realm, while also providing the potential for future value appreciation, creating a sense of exclusivity and investment potential in their collection.
For brands, NFTs provide a unique opportunity to engage with their audience using digital assets that can be bought, sold and traded on blockchain platforms. This not only opens up new revenue streams but also enhances brand loyalty and establishes a direct connection between brands and their most passionate fans. For consumer-collectors, NFTs offer a sense of ownership of exclusive digital items, proving authenticity in the digital realm, while also providing the potential for future value appreciation, creating a sense of exclusivity and investment potential in their collection.
Trend Themes
1. Web3 Integrated Loyalty Programs - Combining a web3 integrated loyalty program with a traditional rewards program provides disruptive innovation opportunities for creating a direct connection between brands and their most passionate fans.
2. Nft-based Digital Collectibles - Using NFTs to engage with audiences through digital assets that can be bought, sold and traded on blockchain platforms presents disruptive innovation opportunities for opening up new revenue streams for businesses.
3. Exclusive Digital Ownership - Offering a sense of ownership of exclusive digital items to consumers through NFTs creates disruptive innovation opportunities for proving authenticity in the digital realm, while also providing the potential for future value appreciation.
Industry Implications
1. Food and Beverage - Using web3 integrated loyalty programs and digital collectibles in the food and beverage industry presents disruptive innovation opportunities for enhancing customer loyalty and creating new revenue streams.
2. Art and Collectibles - Using NFT-based digital collectibles in the art and collectibles industry presents disruptive innovation opportunities for creating new revenue streams and for establishing a direct connection between the artists and their most passionate fans.
3. Marketing and Advertising - Using exclusive digital ownership and NFTs in marketing and advertising presents disruptive innovation opportunities for creating limited time offers and campaigns, and establishes a sense of exclusivity and investment potential in the collection of consumers.
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