Dennie is the Head of Product & Technology at BAIOTEQ. He is also an adjunct professor and researcher on marketing, technology, and Web3.
In business spaces throughout the world, art is more than a merely visual experience. When displayed effectively, the artwork becomes an integral part of the whole consumer experience, enhancing not only the design story but also the business’s image as a whole. A striking piece can cause your client to pause and reflect, which can not only enhance the design but also evoke an emotion in your client and provide your business with a moment of distinction that sets it apart from all the other firms.
Visual art, like sound art, has the ability to be exciting and uplifting when employed well. Several studies undertaken over the past few decades reveal that exposure to art can lower levels of the stress hormone cortisol, allowing customers to feel more at ease. Some experts also believe that unique artworks help people remember things, therefore they can help guests remember a property long after they’ve departed.
Art has always played a significant role in our culture, and as we progress into the third generation of the internet (also known as Web3), people have invented new ways for other people to consume and experience art. So how can businesses utilize Web3-enabled art to enhance the customer experience?
1. Digital Exhibitions
By digitally exhibiting art and removing the physical barriers, you can display a large variety of art without the associated costs and liability. Digital exhibitions can allow you to keep your space fresh with new artworks. Some companies offer solutions that will allow you to turn your existing screens into art displays without any additional costs.
2. Interactive Experiences
Creating interactive art experiences is a great way to enhance client experiences. Such interactive experiences allow clients to connect with artists and the story behind their art. People often support local art, and such interactive experiences can be a great way to discover local artists.
3. NFT Rewards
NFT rewards have the potential to elevate traditional loyalty rewards to the next level. According to the 2022 For Love or Money loyalty survey (paywall), 44% of Generation Z and 47% of Generation Y prefer to be rewarded in crypto/NFTs. This creates a unique opportunity for companies to integrate NFT rewards into their loyalty rewards.
Providing clients with such digital experiences is crucial to keeping competitive in the current market and communicating with customers, which is why a growing number of luxury brands are embracing technological innovation.
During the presentation of the company’s financial results for the second quarter of 2002, Starbucks CEO Howard Schultz and Chief Marketing Officer Brady Brewer informed investors that the company will introduce “new concepts such as ownership and community-based membership models that we see developing in the Web 3 space. … Imagine purchasing a new digital collectible from Starbucks that also serves as your access card to a global Starbucks community with fascinating content experiences and coffee-centered collaboration,” Brewer concluded.
There has also been a new tendency among luxury brands, such as the Mondrian Hotel, to provide their visitors with the chance to experience art in digital forms. Recently, an abundance of brand-new, cutting-edge tools have become available on the market. Consequently, public and private hospitality facilities have become exciting venues for showcasing the work of the world’s finest artists. Digital art is here to stay and is being presented in never-before-seen locations as a result of the expanding and deepening dialogue surrounding NFTs. Forward-thinking brands have already started to include digital exhibits in their commercial spaces.
Web3-enabled art has given birth to a new industry with only a few companies that are leading the pack. Niio, which recently signed a deal with Samsung, offers a paid streaming service that businesses can subscribe to, to access art from its roster of over 6,000 artists. The Niio app allows users to stream, buy or borrow art in digital NFT form. Niio’s platform focuses exclusively on new digital art, and the company often commissions special artworks.
Another startup, Digiphy, funded by University of Illinois’ VC arm iVenture, has built a platform that transcends physical art into its digital NFTs. Its roster of over 300 artists includes legends like Van Gogh and Claude Monet, as well as emerging local artists. Its 24/7 art live stream is free and is available on its YouTube channel.
Both Niio and Digiphy offer innovative Web3-enabled art solutions and a completely new way for humans to consume art. New-age Web3-enabled art is highly attractive to today’s customers and can help create client experiences that increase client retention over the long run.