The brand’s web3 initiative allow customers to shop and earn JellyVerse NFTs that let’s them enjoy cashback and discounts.
Homegrown Singapore home and lifestyle brand, IUIGA, has seen a significant increase in sales after launching their first-ever JellyVerse Non-Fungible Token (NFT) collection last month. The JellyVerse NFTs were launched as part of IUIGA’s 5th anniversary celebrations and represent the brand’s values in transparency and simplicity while delivering quality home products at transparent prices.
Since the launch, furniture sales at IUIGA have increased by 130%, and 60% of customers are purchasing more to participate in the NFT giveaway. Customers have to spend at least $500 to receive 3 free Tier-1 NFTs, which can be merged into a Tier-2 special JellyVerse NFT that provides a range of benefits for the holder. This includes product discounts, early access to new products, and exclusive event invites.
To store the NFTs, shoppers will need to register for their own non-custodial wallet like Metamask or WalletConnect before linking it to the event’s microsite. The campaign has been a success for IUIGA with the site seeing a 300% increase in customers to learn more about the jellyfish-themed collectibles.
“IUIGA has always been an innovator and disruptor. Being an early adopter in digital assets like NFTs allows us to get a headstart in building a strategic, long-term business model around Web3 commerce. We’re only at the start of our journey but we’re already very excited about the potential of NFTs to build a stronger brand connection and relationship – especially with our Gen-Z customers” said Jaslyn Chan, Co-Founder and Chief Growth Officer of IUIGA.
IUIGA’s foray into Web3 as part of the company’s growth is not unique. Earlier this year, global brands like Adidas issued NFTs to collectors that could be redeemed for actual physical items when the NFTs were burned
Closer to home, modern izakaya restaurant JU95 collaborated with digital vending machine brand Tezarekt to launch a random cocktail generator. At the latest NFT event Metajam Asia, NFT tickets were also issued upon purchase which allowed holders exclusive access to certain event workshops and seminars. As NFTs and cryptocurrency enter the mainstream narrative, brands may inevitably move towards a Web3 strategy to engage their customers and fans further.
And what is IUIGA’s next step? The brand is working on a range of experiences around their Web3 initiative, and NFT holders can expect to see features such as customised physical or virtual merchandise, a metaverse-based brand concept, and a chance to decorate their avatars and homes in the metaverse with IUIGA home furnishings.
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