As a result of its latest design, Toys “R” Us has embraced Web 3.0. Solana is a 10,000-item collection of blockchain-based non-fungible tokens (NFTs) that can be bought through Magic Eden, according to a news release.
Toys “R” Us Web3 Roadmap powered by Toys “R” Us/anyone
The NFT, created by Web 3.0 startup Anybodies, offers toy-inspired 3-D animations of the Items “R” Us mascot Geoffrey the Giraffe. NFT purchasers may redeem “GCoins” for exclusive toys, in-store events, VIP access to flagship store openings, early access to new goods, and other rewards. discounts and incentives
Late in 2021, non-fungible tokens reached their zenith, but recent research indicates that collectors are increasingly concerned of the long-term durability of digital assets.
In the third quarter of 2022, NFT sales are projected to decline to $3.4 billion from $12.5 billion in the first quarter. Reuters. In the conventional art collecting industry, where NFTs originally received substantial sums of money, it is anticipated that sales through major auction houses will decline from 127 million British pounds in 2021 to 8.4 million this year.
Toys “R” Us rewards programs are not limited to NFT
Earlier this year, according to Techcrunch, Starbucks sent out its new Starbucks Odyssey loyalty program to beta testers. In-store and mobile app actions earn “Journey Stamps” non-fungible tokens. After collecting enough, customers may redeem them for online and offline activities.
NFTs benefit brands as well. Nike, which acquired NFT creative studio in late 2021, earned $185,3 million in August from NFT sales.
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