Build a superfan base through relevant, valuable content before building a tokenisation project.
The author states that as part of a brand’s Web3 journey, it is important to consciously think about how customer retention and engagement will work in this space. It is critical to understand that Web3 is a move towards decentralised networks powered by tokens.
Token could be understood as data, on the blockchain, that stands for something else. Brands must think about how loyalty and rewards could work in Web3. With tokens, having collected enough of them, could lead consumers to gift rewards to others or resell tokens, thereby expanding the scope of how customers experience loyalty programs.
Given that tokens are digital properties, they can be used to cultivate superfans by allowing customers to own or even financially profit from owning tokens. For brands, tokens are an opportunity to create scare digital assets and for customers to have full ownership of them.
[5 minute read]