Despite a global decline in non-fungible tokens (NFTs) since their peak over two years ago, Nissan has announced a new Web3 loyalty initiative in Japan. While NFTs have lost momentum in regions such as Europe and the United States, they continue to maintain momentum in Japan, where cultural factors seem to be driving NFT adoption.
Japan's affinity for visual storytelling, especially through manga and anime, is a natural match for the visual appeal of NFTs. This cultural connection provides a large repository of creative content that can be effectively used within NFT-based programs. Additionally, Japan’s well-established tradition of shareholder benefits, known as Yutai, plays a key role in the continued popularity of NFT-driven loyalty programs. Under this practice, companies often offer incentives such as discounts to shareholders, as seen in industries such as airlines. The combination of visually appealing NFTs and a reward-based system makes this a strong proposition for Japanese consumers.
Nissan Passport beta launches NFT lottery
Nissan's Web3 initiative, called Nissan Passport Beta, begins with an exclusive NFT drawing that will run until January 14th. The program will distribute 5,523 membership NFTs categorized into four different types: futuristic cars, performance cars, classic cars, and “smart living.” The latter corresponds to individuals who prioritize practical features such as comfort when choosing a car. However, the allocation of NFTs is done randomly, ensuring an element of chance for participants.
While NFTs feature visually appealing car-themed images, the program goes beyond digital art. Participants will have access to exclusive benefits and community engagement opportunities. Members can join Nissan's Discord community and earn badges by completing specific activities, such as posting car-related photos on social media or providing feedback on the loyalty program.
The compensation structure includes specific benefits designed to appeal to car enthusiasts. These benefits range from test drives of vehicles on exclusive tracks to access to limited edition Nissan vehicles. Nissan's approach emphasizes a balance between leveraging the visual nature of NFTs and delivering value through real-world experiences.
Contrasting Web3 strategies: Nike and Adidas
While Nissan launches a new Web3 initiative, Nike has decided to scale back its involvement by closing down RTFKT Studio, the creative NFT brand it acquired in 2021. This move does not signal the end of RTFKT, but rather its transformation into a “cultural artifact.” ” says Nike. Known for creating artistic NFT sneakers and high-profile collections such as CloneX and MNLTH, RTFKT has found great success during the NFT boom. According to a 2022 report, Nike generated $185 million through initial NFT sales and resale royalty fees.
Despite RTFKT's closure, Nike's extensive Web3 presence remains intact. The company's Web3 platform, .SWOOSH, was launched in late 2022 and remains operational.
Adidas, on the other hand, took a different path by expanding its Web3 efforts. This week, adidas announced its latest partnership with STEPN, a Web3 fitness app that rewards users with tokens for physical activity like walking and running. The collaboration includes the release of 1,200 pairs of co-branded physical running shoes. Two-thirds of the shoes will be drawn to Adidas Genesis NFT owners, and the remaining pairs will be allocated through additional contests or drawings involving other NFT owners.
This collaboration exemplifies how adidas continues to integrate NFTs with real-world rewards that resonate with brand enthusiasts. The company aims to maintain interest and relevance within the Web3 ecosystem through a combination of physical products and digital engagement.
Web3 Loyalty Program bridges the digital and physical worlds
Nissan's decision to explore NFTs and the Web3 loyalty program reflects how the brand is adapting blockchain technology to enhance customer engagement. The Japanese automaker's strategy leverages cultural trends and established compensation practices to create programs that appeal to both car enthusiasts and digital consumers.
At the same time, the contrasting moves of Nike and Adidas highlight different strategies in the Web3 space. Nike is focused on refining its approach by consolidating resources, while Adidas continues to advance collaborative NFT ventures that combine digital assets with tangible rewards.
Nissan's efforts, like Adidas' continued efforts, are indicative of a broader trend of integrating Web3 technology into real-world experiences. For Japanese consumers, the combination of cultural familiarity and practical incentives positions NFTs as a relevant and valuable tool, even as they decline in popularity elsewhere. . Brands experimenting with such models will find innovative ways to engage their audiences and bridge the gap between digital assets and physical rewards.
