Conversation Transcript
SUMMARY KEYWORDS
nf, starbucks, sammy hagar, loyalty program, tequila, buying, selling, digital, loyalty, reward, people, fts, brand, sign, launched, build, odyssey, stamps, mentioned, contest
SPEAKERS
Ted Jones, John Paul Mains
John Paul Mains 00:00
I am John Paul mains out here at Click Laboratory and we’ve got Ted Jones with us today again to talk about one of our favorite subjects, NF T’s and what’s why you should be using and why you should be thinking about that your business growth. And we had some interesting updates, the including one from saw something from Sammy Hagar, what in the world is really hate to have to do with NF T’s? Right? Yeah. Crazy stuff. Yeah.
Ted Jones 00:39
And, you know, I always like to talk about NF Ts and you know, as usual, you know, the, the hype that was with a guy last year, I think this year is people are just really using it from a technological perspective. And, and I know on our show, we talked about Starbucks, you know, and their loyalty program and how they’re using NF T’s to reward their existing loyalty members. But it’s
John Paul Mains 01:09
working people out from what you’ve told me, it’s working people are signing up for this stuff. And yeah, I don’t even I don’t see much on the NF Ts, but there clearly is an audience out there.
Ted Jones 01:19
Oh, yeah. And, you know, just to talk real quick about Starbucks, you know, their loyalty program is called Odyssey Starbucks artists Odyssey. And actually right now, it they launched it yesterday, and it goes, they have a 48 hour window that we’re in right now, where they’re actually in an open edition phase of one of their loyalty launches,
John Paul Mains 01:45
a 48 hour window, you so you gotta be paying attention. In other words,
Ted Jones 01:49
yeah, yeah. And, you know, they, they’re good with communicating to their members, you know, they manage a community, they’re telling them upcoming things, and, you know, they obviously want to reward their most loyal customers. Right? Absolutely. But in this case, you know, I don’t loyalty versus buying an NFT. Right. So, you know, like I mentioned, we’re in this 48 hour window, and they’re right now selling an NF T for $25. A piece, you know, and the, this specific NFT is more part of that gamification process they have where you’re still trying to complete these, these stamps that you get
John Paul Mains 02:41
in person or something no
Ted Jones 02:43
NF T stamps, like they’re, they call them stamps, right? Like I think the the more you get away from the NF t term, and calling out something a little bit different. I think we’re friendly
John Paul Mains 02:55
stamps more friendly than right. And it’s more
Ted Jones 02:59
adoptable, right. People like like read it, you know, read it, they hated NF T’s but they love digital collectibles, right. Okay, whatever it same thing, Potato Potato. But, you know, just in the 24 hours that this has launched, they’ve already sold about 5500 of these, and they still got another 24 hours to go.
John Paul Mains 03:24
That’s well over $130,000 in just a day. Yeah, who gets that money? Is that exact going straight back to Starbucks. I mean, if I’m selling an NF t, where does that?
Ted Jones 03:36
I’m guessing I know they probably have an agency partner that they help. I’m sure it helps them manage this and probably goes through and, you know, obviously the art that went into it, the design.
John Paul Mains 03:51
Okay, so you’re buying art and or into this loyalty program, and they’re getting in Starbucks is getting more loyalty out of you. And those people feel like hey, yeah, they loved me. I bought something neat from Starbucks.
Ted Jones 04:03
Yeah. And then kind of transitioning. You mentioned Sammy, Hagar and me. Hey, are you now you’re a fan of Van Halen. And Sammy Hagar? Yeah, he’s
John Paul Mains 04:15
really both of these guys. So yeah, exactly the same. Van Halen. Sammy Hagar
Ted Jones 04:24
well, he partnered with Guy Vieri the
John Paul Mains 04:28
chef, Chef guy. Yeah,
Ted Jones 04:30
yeah, with super platinum blonde errs by but they have a tequila brand. Actually, it’s called Santo and so they actually partnered and they’re now they’re launching an NFT loyalty program through this tequila brand.
John Paul Mains 04:50
Okay, well, what? What would I be buying in that case?
Ted Jones 04:54
Well, in this case, you don’t have to buy anything. In this case. They’re just saying hey, sign up for Our loyalty program, and we’re going to give you an NF T. And what they’re saying is, you know, similar to Starbucks, where you’ve got this kind of this creative design and the NF T. Santos, the tequila company, they don’t, they don’t really tell you what the NFT is, they don’t really show you what the arts gonna look like. But what they’re saying is, it’s going to be random. And with that randomness, you may get different benefits. So
John Paul Mains 05:36
exclusivity, you’re getting a special ticket to something that you don’t necessarily know what it is.
Ted Jones 05:41
Yeah, and they do outline some of the things on the website. And when you say buying in, you’re not you don’t have to buy this is just signing up for their loyalty program. Right? You’re just you’re just trading your email address for you know, this NFT. Right. And so now there’s NF t you being the owner, you could randomly get I think one of the things they said in there was a virtual tequila taste test with Sammy Hagar. Oh,
John Paul Mains 06:13
wow. So you can zoom call with sammies? Hey, cars doing this virtual taste doing this taste?
Ted Jones 06:19
Yeah, I don’t know. I hope I you know, I’m not gonna go buy tequila. You know, at least Cindy Assam or something and say, here’s a little sampler. Because, yeah.
John Paul Mains 06:34
But at the end of the day, I mean, I think I think you’d said you’d saw that press release for this, or whatever it was literally today.
Ted Jones 06:43
So they release it in the past week, I think is what they did. And they’ve got signups right now or like the first 1000 people that sign up actually get to in FTS, you know, so now you’re doubling your chances to there’s other things they mentioned on there, like an autograph guitar, you know. So they’re actually tying some physical items, ways.
John Paul Mains 07:07
Well known guys, they’ve got a brand together got a product together. And so they’re wanting to build, build an audience for I have no idea how popular this tequila brand is, of course, but they’re trying to build a loyalty program. So this what they put out there for probably these younger generations to pull in these people so they can start capturing information and build their brand up and make it cool and trendy. So I get it. This is what brands are doing now.
Ted Jones 07:35
Yeah. And so, you know, they can, you know, start advertising this. They’re like I said, they’re not charging anything for it. Yeah. They’re almost running it. At first is a contest, right? Where you just sign up, you get a couple entries into this contest. I could possibly win a sign guitar, or actually, I think you can either go Yeah, a taste test with Sammy Hagar. And then there’s a separate one a taste test with Guy Fieri. Yeah. So you know, you can hope for either one of those. And then they just say going forward, they’re going to continue to build out this loyalty program. And so everyone from this point forward that, you know, signs up for this now has an NFP that’s verifiable right to their wallet address. And just like Starbucks, they’re just building on it. They’re just saying, Hey, where’s the starting point? Let’s just give everyone an NF. T. And let’s just say, Okay, everyone that, you know, has an NF T has this opportunity now to you know, when these items, and then what’s the next phase? Okay, maybe next phase is discounts. Maybe next phase is more contests, right? Same thing with Starbucks, where, you know, they have gamified it a lot, you know, they’re actually making you go through this process of collecting things. So I think lat I think it was two months ago, actually, they rewarded all of these Odyssey users 30 days of free coffee. Yeah, you know, so now they’ve got, they’re starting to reap those rewards of being in that loyalty program.
John Paul Mains 09:16
And yeah, to your Reddit point earlier, that’s called these digital collectibles. I mean, since this is kind of like the past to this, I could literally, most likely people buying some of this buying and not buying and in this case, but they’re probably take, I’m assuming you’re gonna take capable of taking this and then selling it to the next person saying, oh, yeah, I’m not I’m not really interested in what Sammy Hagar has got, but I know my buddy over here is huge into Sammy Hagar, I’m gonna name this digital collectible this NFT off to him, and then he can be part of this program.
Ted Jones 09:50
That’s right. Yeah. And you know, that gets into that gamification side of things and like the Starbucks one you need they only have a limited release of so many stamps and now that one has more value and you’re actually trying to collect those stamps, so you can be entered into a trip out to the Starbucks coffee farm now or that gets into that abilities to say, hey, you know, and I’ve used this to my liking I’m done with this loyalty program. Now that maybe it has value, like you said, you can resell it, there’s nothing that stops you from listing that on a marketplace. And you know, a lot of the Starbucks items right now, you they run a market, Starbuck Odyssey market, they’ve got things I’m looking at it now there’s some they bought for 25 bucks and someone selling, you know, one for 113. So, apparently, that one has a little bit more value. And there’s some here that you know, are a lot more limited in their edition size, like they have one that only had 2000. edition, and those are gone for over $300. And that was probably something someone bought for $25, or was rewarded, right? So that scarcity really helps keep that community involved in the collection,
John Paul Mains 11:19
you’re creating an experience for your, for your loyal fans. I mean, that’s what this really comes down to is that you’re you’re selling and or giving away an experience that you can hand off to somebody else, but you’re creating, you’re creating this is a brand new way of creating loyalty programs, and even people like Sammy Hagar I would have not have dreamed of is literally out there doing this. And creating, attracting a younger audience into this product line. That’s fantastic. Yeah. Yeah.
Ted Jones 11:53
And that’s it, you know, whatever you want to call them digital collectibles, like digital and how I think, you know, as that younger generation continues to be, you know, on their smartphones on their computers, you know, this is their access point to these brands.
John Paul Mains 12:12
Absolutely. Yeah. So, yeah, I mean, the point is here for if you’ve got a business, you’re selling a product or selling a service, you find if you can find a way, if you’ve done loyalty programs in the past, obviously, this is this is a new way of doing this is a brand new way of doing working with a younger audience. Yeah, I mean, older audience too, as well. But obviously, the younger is, this is what they’re used to, they’re used to buying digital goods. This is a digital good, and they’re buying it to buy an experience with your brand. So
Ted Jones 12:41
clearly, it’s just gonna keep building and that’s, that’s what I’ve always been trying to do is stop looking at the hype and nfts came out of and look at the technology.
John Paul Mains 12:50
Yeah, you take Bitcoin and all that kind of Prospect that’s its own unique world. This is, this is a new, this is a different way of looking at selling a digital product that is highly secure, that you can pass on to somebody else. Yeah.
Ted Jones 13:06
And what I love about this one is that they’re giving it away for free. Yep. Is this generate the interest now Starbucks is probably got a little bit more, you know, behind their loyalty program, because they launched a little bit earlier during the NFT kind of craze. But, you know, right now that drop, we’re talking about $25. And that is a gate to enter into this, this loyalty program for that.
John Paul Mains 13:34
Cool, very cool, nice stuff. Oh, we’ll keep our eyes on this stuff. I mean, obviously, this is, you know, there’s a lot of neat things happening in this space. I’m sure there’s more going to be way more than just this, this this iceberg when it comes to digital collectibles and FTS, whatever you want to call it. But this is a this is a new way of doing business. Like anything else to know.
Ted Jones 13:56
Good conversation.
John Paul Mains 13:57
Cool, neat stuff. Yeah, I’m gonna be curious to see if it wasn’t a killer. I mean, I love Sammy Hagar love Van Halen if it wasn’t a killer, Mike would be so yeah, I’m gonna sign up for that.
Ted Jones 14:08
I signed up and we’ll see. We’ll update everyone on once again. I’m curious at the process. That’s my goal is to see how the Germans are using the technology.
John Paul Mains 14:20
Absolutely. So we’ll pass along that information. All right. Thanks, everybody, for chiming in. Come join us next time. Follow us like us all these good times, things that you all know about on social media. So I appreciate you all joining us. Till next time. Thanks. Yeah.