Analysis
Blockchain Journal Reviews Launch of Michelin "Explorer" NFT Program
In this Blockchain Journal podcast episode, BCJ editor-in-chief David Berlind and Customer Journey Analyst Sophie Maxx Waldman discuss the growing trend of global brands integrating NFTs into customer engagement and loyalty programs, moving beyond the perception of NFTs solely as collectibles like Bored Apes or JPEGs. Sophie highlights how brands such as Nike and Michelin are leveraging NFTs to enhance customer experiences and build communities.The conversation delves into Michelin's unexpected entry into the NFT space with the launch of the Michelin 3xplorer Club (pronounced “Explorer”). Sophie commends Michelin for taking the leap and creating a Web3 strategy to engage up to 5000 customers with its first mint. However, that mint topped out at 2400 NFTs, each of which theoretically grants the holder access to valuable perks and experiences.The discussion also touches on the challenges Michelin faced during the NFT minting process, including multiple launch delays. Sophie outlines the benefits, including ownership of a piece of Michelin's history, access to unique experiences such as races and Michelin-starred restaurants, and participation in digital experiences.By David Berlind
Published:November 28, 2023
25 min read