The Universal The theme parks of studios in California and Florida are adding irreplaceable tokens to their list of attractions.
Through October 31, park visitors will be able to partake in a Halloween-themed scavenger hunt that could result in a total of 7 million NFTs being minted. Seven QR codes will be hidden at each park, and each will generate an NFT when scanned. Visitors who find and scan all seven will receive a special NFT, which Moonpay, the cryptocurrency payment service that works with Universal on the project, says will unlock additional perks.
But the new NFT experience isn’t just for park visitors, says MoonPay CEO Ivan Soto-Wright Luck—It provides the company with useful customer data.
“If you are CMO (Chief Marketing Officer), you think it is ok, how to increase LTV?” he said, referring to the lifetime value of a customer. “How do I engage more deeply with my end customer? And here’s a really good example. “
The rise of NFTs last year was underpinned by their use as digital collectibles. Follow data from Dune Analytics, major brands include NikeDolce & Gabbana, and Tiffany sold hundreds of millions of dollars in NFT over the past year.
But NFT sales have since spiked. In July, the overall market hit a yearly low, according to Be[In]Cryptocurrency research. Over the past 30 days, trading volume on the largest NFT marketplace, OpenSea, has dropped 13%, to around $252 million, according to DappRadar analytics platform.
Soto-Wright said to Luck that Universal’s NFT won’t be affected by declining markets — the use case is about customer engagement and generating repeat visitors.
“For me,” added Soto-Wright, “this is the next wave, 100%. I mean, I think this is a natural progression.”