New Ideas for NFT Coupon Applications: Strategy Analysis for the Minting and Trading Market Stages

robot
Abstract generation in progress

Discussion on the Application of Coupons in the NFT Field

Basic Concept of Coupons

Coupons are widely used as a marketing tool on e-commerce platforms. They primarily serve two purposes: stimulating consumption and encouraging user participation. Compared to direct cash giveaways, coupons have the following characteristics:

  1. Limited Scope of Use: Typically only applicable to specific platforms, product categories, or under certain conditions.

  2. Low liquidity: Generally non-transferable, and difficult to circulate due to different user demands.

  3. Cost Delay: Costs are incurred when the user utilizes the service, rather than when it is issued.

In the NFT environment, the application effect of coupons may vary depending on the nature of the NFT (consumer goods or investment items). In addition, coupons can be divided into two forms: those issued by the platform and those issued by sellers, each with different cost-bearing methods.

Coupon Applications in the NFT Field

Coupons can be introduced at two stages in the NFT lifecycle:

  1. Minting Stage: Users interact directly with the NFT contract, paying currency to acquire the NFT.

  2. Trading Market Stage: NFT holders buy and sell through the trading market contract.

Introducing coupons during the minting phase, NFT issuers can use coupons to promote the project or encourage more users to participate in minting. This approach does not incur additional expenses; it simply reduces revenue.

In the trading market phase, the situation is more complex. There are three parties that may issue coupons:

  • NFT issuer: needs to set up a dedicated wallet to subsidize the difference.
  • NFT holders: Market support is required to set up coupon contract information.
  • NFT trading market: Covers all NFT transactions within the platform.

In the trading market stage, whether it is the NFT issuers or the trading market that issues coupons, additional expenses are required. Therefore, it is necessary to carefully weigh the costs and benefits.

For NFT issuers, the cost is the total amount of coupons multiplied by the usage rate, while the revenue includes users completing tasks and the improvement of NFT liquidity.

For the NFT trading market, the cost is similarly the total amount of coupons multiplied by the usage rate, while the revenue is generated from users completing tasks and the increase in transaction amounts. However, due to the unique user behavior characteristics of the NFT market and the scarcity of professional sellers, advertising revenue may not be as significant as on traditional e-commerce platforms.

When is the best time to introduce coupons into the NFT market?

Summary

In summary, it is a more appropriate strategy for the NFT issuer to issue coupons during the minting phase. This can enrich the existing lottery and whitelist mechanisms on social platforms. In the trading market phase, the NFT issuer needs to carefully assess the cost-benefit of issuing coupons. The feasibility of coupon issuance by NFT holders and the trading market is relatively low.

In the future, if this product idea is proven to be feasible, we can further explore the implementation of coupon contracts and how to modify existing NFT contracts to support coupon functionalities.

MINT-10.08%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 7
  • Share
Comment
0/400
NervousFingersvip
· 1h ago
With business being so slow, who still pays attention to coupons?
View OriginalReply0
MercilessHalalvip
· 22h ago
What can you gain from this thing?
View OriginalReply0
Layer2Observervip
· 22h ago
The cost-benefit ratio deserves careful consideration.
View OriginalReply0
HashBrowniesvip
· 22h ago
The hype strategy is back.
View OriginalReply0
GasWastervip
· 22h ago
ugh another gas trap...trading coupons gonna cost more in fees than savings tbh
Reply0
MemeEchoervip
· 22h ago
Every day there are coupons, not feeling good.
View OriginalReply0
ApeDegenvip
· 22h ago
Can this pancake be cooked?
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)