VRUZ NFT: Reward Marketing for SPS and the Future Demands

about 1 year ago (Edited)

Rewards Marketing is Lit

Building a fantastic web3 product is as important as a strategic marketing of the product. In fact, your product is as good as you can market it. When there is no end user of a novel creation, it's as useless as not happening. Many startups understand this and they leave no stone unturned in ensuring that the right principles are adopted.

Splinterlands Inc. is one of such web3 community that is improving its lots in marketing its products. While there are many marketing strategies, the principles of traditional loyalty programs incorporated in new technology is superb. Today, innovative creators, design gamifications that qualify users for levels of rewards based on patronage in that everyone gets a proportion of the reward pool in proportion with his level of patronage. it is called Rewards marketing.

According to Mohit Bansal, reward marketing is a practice where you leverage a reward or loyalty program through program participation. This is done by providing appealing and attractive rewards to the patrons of your products. Rewards marketing is believed to build connections, increase customer loyalty, deepen engagement and attract new customers to the product.

Splinterlands Inc takes no chill in Marketing its Gaming products

The Splinterlands team has iterated rewards marketing in the sales of almost all of its NFT products. There is always a proportion of the tokenomics of their asses (NFTs) to be given out as airdrops or as rewards for participation either for all or to a certain degree. VRUZ NFT is one of such rewards used by the Splinterlands team to market the governance token of the Splinterlands ecosystem - Splintershards (SPS).

A major breakthrough in the Splinterlands ecosystem happened when the DAO proposals system was designed. This allows the community of users/players to create a proposal, and use their SPS stakes to vote for or against the proposal, thereby, having a tangible voice in the decision making process of the gaming ecosystem. VRUZ card NFT was designed as a result of the passing of the first ever community-driven proposal for a new limited edition Promo card which was voted upon, by the community, and is now being introduced into the game. The VRUZ NFT is well identified as an exclusive asset by the Players and for the Players.

The dragon card NFT with snipe, martyr and true strike abilities ascending the 10 levels of the card. The melee attack monster starts at level 1 with 4 speed, 3 melee, 1 health and 2 manna cap. It's been proven o be a great card in Splinterlands gameplay. More on the card is in its lore.

A player's ownership of the VRUZ card NFT was determined by staking at least 1,000 SPS in the game. Every 1,000 SPS staked qualified a player to redeem 1 VRUZ card with just 1 VOUCHER token. A VOUCHER token as at the time of the card release was worth 5 Cents. Thus, a card as powerful as VRUZ was redeemed for just 5 Cents meanwhile its market value was 50 Cents. It was actually a loyalty reward card for all SPS stakers.

As I write this post, 1 VRUZ NFT card at level one is worth 52 Cents. that's over 10x the value at which the card was claimed. Going forward, the card could be as costly as $5 or even more/less. It's actually a 1000% ROI.

The New Usecase for Staking SPS

The big picture painted is that SPS staking has value much more than voting proposals and 22% staking rewards APY. It is clear that Splinterlands players can now earn free NFTs as rewards for staking SPS. My 3,000 SPS stake earned me 3 VRUZ NFTs which is presently worth $1.56 Imagine the player with 100k staked SPS. Such would have earned free $52 worth of NFT.

I am personally looking forward to staking more SPS in order to qualify for more of such rewards in the future. I know there are many other splinterlands players who are interested in buying more SPS and staking them. It may not be now, but at the verge of knowing that another community-powered proposal to mint another NFT would come.

A study has shown that 82.4% of customers tend to shop more from stores that have some form of reward program. This shows how effective reward marketing can be be in helping a startup to edge out the competition. I hope other Hive communities can learn and up their marketing game.

Splinterlands game is termed the "next generation of collectible card games" in which allows players to collect, trade, and battle with provably scarce digital collectibles with real-world value. Battles on Splinterlands Unlike most trading card games, are fast and furious, and are usually completed within few minutes. The Splinterlands gameplay is simple and easy to learn viz: reviewing combat rules, making and submitting of the team and watching the battle unfold.

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