3 Uses Of NFTs In Travel Industry – With Examples
NFT travel promotions and marketing opportunities are a new trend altering every aspect of the travel industry, including restaurants, hotels, airlines, and entertainment facilities. In the article below, you will learn about the nature of NFTs, how they function, and how companies use them.
The primary use cases of NFTs in Travel Industry are new ownership models, collaborations within several businesses and artists; and improved incentive programs for clients.
Why Marketing Is Important For NFTs In Travel Industry?
To understand the full potential of NFTs in marketing, it’s worthwhile to look at the effectiveness of NFTs in general. Overall, NFT sales grew by over 21,000 percent between 2021 to 2022, with the value of all sales raising between $82.5 million to 17 billion, and it’s still rising.
The first NFT sold was collectible digital objects, like original art, original music files, and original tweets from famous people. But over time, the NFT trend has grown beyond that and resulted in purchasing NFTs with practical applications.
Travel is well situated to capitalize on both the collectible and practical NFT categories. The selling of NFTs could generate business attention, draw attention to the brand’s values and creativeness, and be used as promotional products. But, NFT technology can also be utilized to create loyalty programs for customers, exclusive club memberships, and much more.
How can you incorporate NFTs into marketing for travel Businesses?
In order to amalgamate NFTs in travel industry, you’ll have to apply marketing techniques to win the market. NFTs are among the latest trends in travel marketing. However, companies must make the most of this technology. In this article, you will read about how NFT can be used in marketing strategy.
Partnerships and Collaborations
One of the most effective ways to profit from NFT marketing for those who work in travel companies; such as hotels, is to work with established or new digital artists. This will result in creating distinctive digital artwork that can be sold or distributed during competitions.
This can function as an NFT marketing strategy for travel: the company engages an artist to commission the artist to create a work, typically inspired by travel or a particular marketing strategy. The artist creates the work, and the business then sells the NFT or offers the NFT away while trying to get media attention.
Make use of NFT Technology to develop an incentive program for customers.
Some of the most creative NFT travel uses have been customer rewards powered by NFT programs. Many travel companies have customer loyalty programs designed to reward loyal customers or customers who recommend their services to family and friends, but managing all these data is difficult.
But, each customer can alternatively be issued an NFT that contains the customer’s records. This allows for an individual entry for each customer and all relevant information securely stored. The customer’s digital file can be used to make a reservation at restaurants and hotels or earn loyalty points for the transaction.
New Ownership Models and Fundraising through NFTs
A new and exciting NFT travel option is focusing on the development of new methods of ownership or fundraising that are based on NFT technology. For example, restaurants, hotels, and cafes could choose to sell some of their premises, and property ownership can be represented and recorded via sales of NFT.
Businesses may choose to offer a number of NFT shares, allowing people living in the area to feel a connection to the business and a stake in its growth. In addition, selling other NFT content can be utilized to generate capital quickly. This could be beneficial for restaurants, hotels, and those operating in the aviation business.
Few Travel Brands That Are Using NFT Marketing
While NFT tourism marketing is an emerging phenomenon, however, the top companies are already beginning to capitalize on the benefits it can provide. Below, we will give you details on some companies which have embraced this technology for travel and the methods by which they’ve taken it up.
Travel
Travel offers an online booking site and the most prominent blockchain-based online travel agency. The platform is known for selling travel products that span more than 90,000 locations for customers who want to pay with cryptocurrencies such as Bitcoin and traditional methods such as debit and credit cards.
Members who are allowed can purchase a special NFT and utilize it as the main way to gain access to exclusive Smart Diamond rewards, which include discounts, bonuses, prizes, drops, and reward points.
Airline ‘AirBaltic’
AirBaltic is a Latvian airline that received much media attention when it announced the NFT tourism marketing program. This was also an opportunity to promote certain cities in Latvia as tourist destinations.
In 2021, they developed a collection of collectible NFT art tokens based on cities in these cities. In 2022 the airline announced the development of its NFT strategy by launching “Planes” NFT tokens designed to be collectibles and integrated into the company’s customer loyalty program.
Restaurant ‘Flyfish Club’
There is a Flyfish Club restaurant is an exclusive private dining establishment for members only, situated inside New York City, which advertises itself as the unique NFT restaurant. It is also thought of as an early pioneer of the NFT travel industry because the membership card issued to The restaurant’s membership is issued in the form of a non-redeemable certificate.
Membership tokens can be bought using cryptocurrency, which can further strengthen the connection between the brand and cryptocurrency and blockchain technologies. Only NFT holders can access the restaurant. The NFT can be utilized to enter the restaurant physically. However, members can rent the NFT member card to relatives or friends or sell their membership tokens on the market second-hand.
Hotel ‘Marriott International‘
They are famous for using trending marketing strategies. They were among the first hotels to utilize NFT technology after forming a partnership that included three artists: TXREK, JVY, and Erick Nicolay, to produce artwork inspired by the Marriott advertising campaign.
The entire campaign was about the “Power of Travel”, which was why the participants were required to create digital artwork in connection with this theme. After the work was finished, the three pieces we Marriotts awarded to winners by Marriott in conj the Art Basel Miami Beach 2021 event. This did make headlines, assist the artwork creators, and gathered goodwill too.
Besides understanding the uses of NFTs In Travel Industry, get to know:
- 3 Valid Uses Of Real Estate NFT
- 4 Ways How YouTubers Can Earn From NFTs and Metaverse?
- How To Buy Land In The Metaverse With 0 Gaming Experience?
- Hollywood’s 10 ‘Top Celebrity NFT Drops’
- How to Sell NFT at a High Price In 4 Weeks?
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