Despite the global decline in non-fungible tokens (NFTs) since their peak over two years ago, Nissan has unveiled a new Web3 loyalty initiative in Japan. While NFTs have lost momentum in regions like Europe and the United States, they continue to maintain traction in Japan, where cultural factors seem to favor their adoption.
Japan’s affinity for visual storytelling, particularly through manga and anime, aligns naturally with the visual appeal of NFTs. This cultural connection provides a large repository of creative content that can be used effectively within NFT-based programs. Additionally, Japan’s established tradition of shareholder rewards, known as Yuutai, plays a key role in the continued popularity of NFT-driven loyalty programs. Under this practice, companies often offer incentives like discounts to shareholders, as seen in industries such as airlines. The combination of visually appealing NFTs and rewards-based systems makes this a strong proposition for Japanese consumers.
Nissan Passport Beta Launches NFT Lottery
Nissan’s Web3 initiative, called Nissan Passport Beta, begins with a limited NFT lottery running until January 14. The program will distribute 5,523 membership NFTs, categorized into four distinct types: futuristic cars, performance cars, classic cars, and ‘smart life.’ The latter caters to individuals who prioritize practical features like comfort when choosing vehicles. However, the allocation of NFTs will occur randomly, ensuring an element of chance for participants.
While the NFTs feature visually appealing car-themed images, the program extends beyond digital art. Participants will gain access to exclusive rewards and community engagement opportunities. Members can join Nissan’s Discord community and earn badges by completing specific activities, such as posting car-related pictures on social media or providing feedback on the loyalty program.
The rewards structure includes tangible benefits designed to appeal to car enthusiasts. These perks range from test-driving vehicles on specialized tracks to gaining access to limited-edition Nissan cars. Nissan’s approach highlights a balance between leveraging the visual nature of NFTs and delivering value through real-world experiences.
Contrasting Web3 Strategies: Nike and Adidas
While Nissan is launching a fresh Web3 initiative, Nike has decided to scale back its involvement by shutting down RTFKT Studios, the creative NFT brand it acquired in 2021. The move does not mark the end of RTFKT but signals its transformation into a “cultural artifact,” according to Nike. RTFKT, known for producing artistic NFT sneakers and high-profile collections like CloneX and MNLTH, had significant success during the NFT boom. Reports from 2022 indicated that Nike generated $185 million through initial NFT sales and royalty fees on resales.
Despite the closure of RTFKT, Nike’s broader Web3 presence remains intact. The company’s Web3 platform, .SWOOSH, launched in late 2022 and continues to operate.
Meanwhile, Adidas has taken a different path by expanding its Web3 initiatives. This week, Adidas announced its latest partnership with STEPN, a Web3 fitness app that rewards users with tokens for physical activities such as walking or running. The collaboration involves the release of 1,200 co-branded physical running shoes. Two-thirds of the shoes will be raffled to holders of Adidas’ genesis NFTs, while the remaining pairs will be allocated through additional contests or raffles involving other NFT holders.
The collaboration exemplifies how Adidas continues to integrate NFTs with real-world rewards that resonate with brand enthusiasts. By combining physical products with digital engagement, the company aims to maintain interest and relevance within the Web3 ecosystem.
Web3 Loyalty Programs Bridge Digital and Physical Worlds
Nissan’s decision to explore NFTs and Web3 loyalty programs reflects how brands are adapting blockchain technology to enhance customer engagement. The Japanese automaker’s strategy leverages cultural trends and established reward practices to create a program that appeals to both car enthusiasts and digital consumers.
At the same time, contrasting moves by Nike and Adidas highlight varying strategies within the Web3 space. While Nike focuses on refining its approach by consolidating resources, Adidas continues to push forward with collaborative NFT ventures that combine digital assets with tangible rewards.
Nissan’s initiative, along with Adidas’ ongoing efforts, signals a broader trend of integrating Web3 technologies 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 their popularity declines in other regions. Brands experimenting with such models could find innovative ways to engage audiences and bridge the gap between digital assets and physical rewards.
