Macy’s to host Thanksgiving Day Parade in the metaverse with NFT design contest

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Dive summary:

  • In addition to other brands trying out non-fungible tokens, Macy’s is hosting a virtual Thanksgiving Parade that lets viewers vote for their favorite NFT projects and earn virtual gallery cards. According to a news release MondayViewers can choose from five galleries featuring NFT projects created by Boss Beauties, Cool Cats, Gmoney, SupDucks and VeeFriends to select a design that will make up the balloons for the 2023 Macy’s Thanksgiving Parade.
  • The retailer is charging $50 for creating a virtual gallery card and donating all proceeds to Big Brothers Big Sisters of America. Consumers with NFTs from the creator’s collection have the power to sign up. More points to decide next year’s balloon, according to the press release.
  • Macy’s will host a virtual version of the parade this year inside on cyber metaverse Starting Thanksgiving at 9 a.m. ET, customers can watch the parade across desktop and mobile devices. without the need for virtual reality headsets or digital currency wallet to participate according to the announcement
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Diving Insights:

Macy’s latest attack on Web3 follows an earlier trial with NFT in the retailer June. Macy’s Fireworks Launches 10,000 Free NFTs to celebrate independence day The retailer distributes NFTs on the Polygon blockchain to customers registered on Macy’s Discord server.

“As we countdown to the 96th Macy’s Parade, we’re excited to bring this phenomenon once again to the web3 virtual landscape with fun experiences that empower fans, collectors, and the Discord community to engage. our high,” Will Coss, executive producer of Macy’s Thanksgiving Day Parade, said in a statement. “Last year’s Parade NFT spawn collection was so successful that we wanted to give our digital community the opportunity to select original NFT designs to turn into real-world Macy’s Parade balloons. At the same time, it creates significant funding opportunities for Our partners Big Brothers Big Sisters of America.”

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There are many other brands that are trying to do this. Connect their business to the metaverse. to make money from digital products Earlier this month, Nike Announced that it is beta testing its virtual reality platform. to showcase their products. The brand plans to launch a digital collection through the platform next year using consumer input. and has certified the domain name welcome.swoosh.nike which states that it creates a digital environment that

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Although the metaverse is predicted to bring tremendous value to brands and retailers But previous reports indicate that consumers are still not fully understood. June McKinsey Report It predicts the metaverse will generate $2.6 trillion in e-commerce and $5 trillion overall by 2030, but Wunderman Thompson’s poll published a month ago. It was found that only 15% of respondents were able to explain metaverse concepts to others.

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