Episode Highlights:
2:50: General approach to crypto strategy for enterprises
4:21: In-app crypto trading’s role in app usage
9:05: Crypto’s ability to alleviate points balance sheet liability
12:56: Crypto rewards examples
15:32: NFTs fueling new customer experience tactics
21:23: Norwegian Cruise Lines NFT use case
22:34: World Wildlife Foundation (WWF) NFT use case
24:37: Crypto regulatory and risk management framework
Video Highlights:
Aaron Kruse discusses how companies can offer crypto as a way to manage their loyalty points balance sheet liabilities
Aaron Kruse discusses some basic launch points for companies to develop an NFT strategy
Aaron Kruse explains how NFTs can create experiences for companies' most valuable customers to deepen their brand engagement through unique experiences.
Aaron Kruse explains how offering in-app crypto holdings can increase daily/weekly/monthly app engagement
About This Episode:
Cryptocurrency and digital assets are quickly turning into some of the most valuable customer engagement tools for companies who know how to use them.
After launching their buy/sell/hold of crypto assets back in 2021, PayPal saw that 50% of their crypto holders opened the app daily compared to roughly once monthly for non-crypto holders.
The World Wildlife Federation created Non-Fungible Animals - their NFT program that raises awareness and funds for the conservation of ten endangered species.
Norwegian Cruise lines partnered with a local artist to create a unique collection of NFTs and donated the proceeds of the sale to Teach for America, demonstrating how brands can align their technology strategy with social causes and sustainability work.
These examples show how companies can achieve their bigger goals by using cryptocurrency rewards and NFTs to engage customers in new ways - but these two examples are just the tip of the iceberg.
In this episode of Embedding the Future of Finance, Aaron Kruse, Alviere’s Director of Crypto and Blockchain, sat down with Jay Saling to discuss the different areas that crypto can be used by brands to positively impact customer engagement and lifetime value strategies.
Show Notes:
Study on younger generations' interest in alternative investments (referenced during the show as a report from Fidelity. Correction, report was created by Bank of America.
