Campfire 80: How To Use NFTs To Fuel Immersive ExperiencesGeneral 1 reply 1 like 111 views
In our latest fireside chat event producer and the co-founder of NonFun Events, Bobby Kunta, took over the WXO Campfire to explain how we might use crypto and NFTs to incentivise the kinds of behaviours we hope to see from our target audiences, as well as close value loops at events. Together, we discussed how else we might apply the same principles to add value to our own experiences and make them a party for everyone.
The full write-up will be coming soon – but for now, here are a few top takeaways, links and questions that emerged.
We also want to hear from you – what were your top takeaways? How might you use Kunta's approach in your own work? What questions did it provoke? Add your comments below!
- To understand whether web3 tech could be a boon to your business, you first need to work out why people come to your experience, who might be missing out on value, and the pain points each stakeholder might have.
- There’s a lot of hesitation around adopting web3 technology at present. The reasons for this include contention, confusion, risks such as security, and the ethics around environmental damage. However, these risks also breed a lot of opportunity.
- NFTs can offer access to community, spark higher engagement, and provide a way to build and track an ongoing relationship with your audience. They can also offer:
- Incentivisation options through gamification
- Membership verification
- Community construct: as a store of value, unit of account, medium of exchange
- Sharing ideas, images and data with verified ownership
- Incorporating AI to build virtual worlds
- POAPs and rewards-based gamification
- “Never try to adopt or create a tool that uses web3 when you don’t have to. In 5-10 years cryptocurrency and digital assets are going to be fundamental to society and business, so it depends on what your prediction is about what the future is going to be.”
Follow-up questions to ask yourself (submit your thoughts below!):
- At your experiences, is there a party who typically doesn't stand to gain as much as the others?
- What use cases have you considered for your own digital assets (or those of other parties) in adding value to members of your community?
- What kind of value (perks, privileges, accessibility, etc) would you like to see made more available to members of your community?