Los Angeles based Block V debuted Project NGAGE at NRF 2019: Retail’s Big Show. With technology powered by Intel, the company released hundred of butterflies in New York City in the form of Vatoms, their version of blockchain-based, non-fungible, digital objects. Each butterfly, once captured, unlocked a product or offer from one of the participating brands, like Pepsi, AT&T, Salesforce, and more.
Said BlockV CEO Reeve Collins, “This represents the evolution of advertising from just messages to actual digital objects.”
According to BlockV, the campaign was a major success based on the following metrics:
- 50% engagement ratio: exceeding the 27% benchmark for conference/trade show attendees engaging through event mobile apps.
- 93% redemption rate: compared to 25% redemption for incentives, like paperless coupons
- 675 digital objects acquired by attendees visiting the digital visual display
- 95% of participants expressed that the redemption process was a valuable use of time
Eric Pulier, Co-Founder Project NGAGE, noted that “People (are) coming from all walks of life in the retail community and saying, “this is not just an efficiency, this is something that is going to fundamentally transform how retail is done.”