By quest author Eloisa Marchesoni.
Network Marketing has the unique foundation to easily use NFT Badges. A non-fungible token (NFT) is a digital asset that is verifiable on blockchain technology.
Assets include artwork, music, or in-game assets such as unique avatars. Because they are unique, NFT’s are becoming sought after as collectibles.
Each NFT-like membership in Network Marketing is a digital contract that the parties sign upon purchase of that membership by the new user, track all of the affiliate/membership incentives, like:
- Weekly payouts
- Residual rewards
- All bonuses
The platform pays members bonuses for recruiting people to the platform and has a series of higher levels that the members can achieve, as they build up their individual network and that of the business as a whole.
Instead of awarding steel-, gold- or platinum-plated pins covered in gems or diamonds, which are hard to show off, move during travels and rather impossible to monetize, an NFT-based business model would associate more and more exclusive NFT generations categories to the traditional levels.
OpenSea is the world’s first and largest NFT marketplace.
The exclusivity of generation, and the seniority of each member in that level, must be recognizable among the members of the MLM community.
Graphics and rare characteristics of the NFT’s may be designed in collaboration with notable comics and fashion designers, coming from DC Comics or Gucci.
The network marketing business must also make sure that each generation of NFT comes with special perks to create long-term engaged communities.
Through NFT’s, brands are able to identify the “super fans”, and connect with as well as reward those biggest fans-turned-NFT owners.
About the author Eloisa Marchesoni
Eloisa Marchesoni is a Tokenomics Engineer focusing on token model architecture, token macro-/micro-economics structure, crypto market simulations and gamification strategies for Web3 businesses.
She is currently a partner to VCs and accelerators, while also working as an advisor to self-funded crypto startups, which she has been doing since 2018.