TL;DR
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Guy Fieri and Sammy Hagar just launched an NFT loyalty program for their tequila brand, Santos Spirits.
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Here’s why it’s great for Santos customers: NFT loyalty cards can be sold. Meaning customers can enjoy the benefits of membership, and cash out if/when they feel like it.
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Here’s why it’s great for Santos: Guy and Sammy can program royalties into their NFTs, so every time a customer cashes out, Santos gets a cut.
Full Story
Guy Fieri and Sammy Hagar just launched an NFT loyalty program for their tequila brand, Santos Spirits.
We have two things to say on the matter:
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If they don’t refer to these NFTs in their marketing material as ‘your ticket to Flavor Town,’ we will riot in the streets.
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This is great for both Santos AND its customers.
Here’s why it’s great for Santos customers:
NFT loyalty cards are transferable – which doesn’t feel like a flashy feature, but check this out:
How much do you think American Airlines’ top tier Executive Platinum membership is worth?
That’s the membership that gets you:
A: $50,000+
(Or at least, that’s what you’d need to spend to reach that tier).
With the American Airlines membership system, you can’t realize that value in cash.
But with NFT loyalty cards (like the one Santos are launching), you can. Meaning customers can enjoy the benefits of membership, and cash out if/when they feel like it.
Here’s why it’s great for Santos:
You know the drill – royalty fees.
Guy and Sammy can program royalties into their NFTs, so every time a customer cashes out, Santos gets a cut.
And sure, with the rise of royalty free marketplaces like Blur, those royalties may not be enforced – but Santos can always solve this with its own closed marketplace, similar to Starbucks’ Odyssey program.
Either way, it’s a great application of Web3 technology 😗🤌
