Chalice NFT Club

Get exclusive digital collectables that function as a digital subscription to the club at Chalice Farms, access future drops, in real life and in virtual experiences.

What is an NFT?

NFT’s are the driving force behind a new generation of internet products and services that are sharing value directly between millions of developers, artist, collectors and gamers.

An NFT is a Non-Fungible Token. Something non-fungible is an item that cannot be swapped out with an identical item of identical value. Some examples might be a piece of artwork or rare basketball card. Think of it as something that could different values to different people for any number of factors - time spent acquiring an asset, rarity, aesthetics, hype, quality, content, sentimentality, etc.

NFTs provide a sense of urgency to the purchase as an added incentive to buy now.

NFTs  offer a seal of authenticity. For example, luxury brands such as Gucci are experimenting with NFTs tied to purchase of their products. The NFT in this case serves as a luxury indicator, marking the occasion of the purchase and proving the authenticity of the brand to others or third-party buyers. 

Incentive-based NFTs provide marketers innovative ways to leverage this new technology. By tying a unique token to a physical product or experience, it marks that purchase as special. And the specialized, unique value of NFTs can boost sales, create differentiation and ultimately increase the perceived consumer value of a product.

NFTs as commemorative memorabilia to deepen consumer connections.  Much like apparel, figurines or trinkets, an NFT represents a myriad of options for marketers looking to create unique, commemorative items for specific events. Instead of tying an NFT to a purchase, marketers can use NFTs as a subsequent item to deepen consumer connection within a marketable moment in time as a token of appreciation

NFTs as additional revenue streams.  As opposed to offering an NFT as strictly a purchase incentive or as memorabilia, they are also sellable products themselves—providing brands new ways of generating additional revenue beyond the initial purchase price. The tokens can represent almost anything, allowing brands to apply them liberally across different products. 

Digital representations of the modern world with nearly zero creation costs, non-fungible tokens provide brand marketers limitless upside potential. They provide incentives for larger purchases by creating immediacy, additional value and marks of authenticity. And they can serve as unique memorabilia to deepen consumers’ connection to memorable moments, concerts or sporting events. 

NFTs offer brands innovative ways to package digital products alongside physical ones to drive additional value.  30% of Americans stating they would like to receive an NFT as a gift with a purchase.