There are many ways businesses can use NFTs. Much of this depends on the business model and what they are trying to accomplish. One way for businesses to use NFTs is for loyalty purposes.
Let me give an example of a business that is using NFTs to gain customer loyalty. The name of the company is Special K Glass and they have been in business since 1999. They specialize in glass blowing and typically sell bongs. In fact, they are the biggest bong seller in the state of Oregon.
Here's what they are doing to utilize NFTs.
Mint 10,000 NFTs and make a 5 tier system.
Each tier will give additional benefits compared to its lower tier.
The highest tiers have all of the benefits of the lower tiers.
The lowest tier gives access to a members only website with unique giveaways. Tier 2 gives a 50% discount on all products. Tier 3 provides the “forever bong” a durable bong that is replaced if broken (no questions asked). Tier 4 allows customers to buy custom artwork and Tier 5 gives in person glass blowing lessons.
Customers get the benefit of an exclusive club that is limited according to the NFT holders and the business receives the money upfront. And if the customer gets tired of the business they can sell the NFT to someone else. Pretty cool!
