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GameStop Deep Dive Into Web3, From Loyalty & Rewards To NFT Marketplace
We've all heard of loyalty programs that offer perks to their members. But what if those perks were a little more unique? That's where NFTs come in. NFTs, or non-fungible tokens, are unique digital assets that cannot be replaced. This makes them much more valuable as perks, giving loyalty program members a unique experience to look forward to.
Recently, GameStop announced that it would add NFT trading cards for the virtual game Gods Unchained as a perk for its loyalty program members. This shows how wide the application of NFTs can be and demonstrates how businesses experiment with NFTs to create more valuable and engaging customer experiences. With the potential applications of NFTs still largely untapped, it will be interesting to see what other firms come up with in the future.
GameStop Employs NFTs
As a bonus for members of its loyalty program, traditional store GameStop gave away NFTs trade cards for the virtual game "The Gods Unchained." This move is GameStop's latest step into the digital world as the store tries to find a new way to do business.
Gods Unchained is a virtual trading card game designed on the Ethereum blockchain, allowing players to own, trade, and sell their in-game assets. This reward is for players in GameStop's PowerUp Pro Reward loyalty program. As part of the event, GameStop PowerUp Pro members can get gifts like God's Unchained expansion packs and NFT trading cards. All Power Pro users were given their redemption codes On September 25, 2022, letting them acquire their NFT cards and add them to their decks. Players can use these cards to create sets and compete in multiplayer gameplay. These cards aren't only for the player who receives them. They can also trade and sell them to others or decide to keep them.
What this means for collectors
By offering these virtual cards, GameStop appreciates loyal customers in a fun and engaging way. Unlike traditional loyalty programs, which often involve point systems or rewards used only within the store's inventory, this perk can be owned, used, and traded freely without having to be locked in within the brand's rewards system. With so many applications for NFTs, it's exciting to see how companies like GameStop will continue to use them to provide more value for their customers.
Gods Unchained is all about competition and strategic gameplay. Not only will players use their talents to design their ideal deck, but actual card ownership allows customers to feel more invested in these digital cards. That is one of the many reasons why Gods Unchained appeals to highly competent players and collectors searching for a new level of control, challenge, and enjoyment.
Why GameStop has chosen to double down on the digital world
The "Gods Unchained" promotion is part of the company's ongoing effort to reposition itself in the minds of its target demographic by offering more Web3-focused products and services. Collaborating with Gods Unchained aligns with GameStop's previous initiatives in the cryptocurrency and NFT sectors.
Additionally, participants in GameStop's "PowerUp Rewards Pro" loyalty program pay $14.99 annually for benefits, including monthly gift cards, cash-back incentives, and access to exclusive releases.
For Gods Unchained, this collaboration helps spread the word about Crypto, NFTs, and their game. Free incentives encourage many users to redeem items, and some players will remain dedicated to Gods Unchained. This adds more players to Gods Unchained's daily play-and-earn events. As expected, this will be the first of many promotions between GameStop and Gods Unchained!
GameStop NFT Marketplace on ImmutableX
After being launched in February, the GameStop NFT platform has been in public testing since July. With the formal debut, marketplace members now have access to Web3 games being developed on ImmutableX and other NFT gaming assets. The Web3 games include "Gods Unchained," a trading card game, "Immortal Game," a chess game, "Guild of Guardians," an MMORPG called "Ember Swords," the 8- and 16-bit game "Bitverse," and "Hro," an official DC Comics NFT trading card game. The Ethereum blockchain is the foundation for the decentralized gaming market, which processes transactions using Loopring, a layer 2 scaling solution.
The layer 2 scaling product is an appealing option for users new to Web3 gaming since it enables "100% gas-free and carbon-neutral minting and trading" on the GameStop NFT marketplace. The original launch was successful and generated a trading volume of more than $5,000 ETH (about $7.2 million at the time) in the first week. Users may exchange items and artwork created on the site via the marketplace.
In addition to NFTs, GameStop has released a browser plugin for Google Chrome, and Brave called a non-custodial crypto wallet that enables customers to purchase and store NFTs in Ethereum-based tokens.
Gamestop wants to attract new Web3 players by providing educational resources and, in the future, incorporating both real-world and virtual games.
Bottom line
Companies are trying new approaches to engage consumers over longer periods through loyalty programs rather than only generating money upon NFT purchases. Although they are still figuring out what these would look like, it's pretty clear the digital world makes them better. With NFTs, these programs might provide members access to communities, unique content, and new online and offline experiences.
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