TIME Pieces by Time Magazine the first tokenized subscription from a major media brand
Image credit: TIME
First major media brand to pioneer token as a digital subscription
TIME was the first media giant to experiment with web3 and has a number of marquee initiatives. TIMEPieces genesis collection, themed “Building a Better Future,” featured original artwork from more than 40 influential artists. Owning a TIMEPiece will also unlock unlimited access to TIME.com through TIME’s 100th anniversary in 2023, exclusive invites to TIME’s in-person events, and access to special digital experiences. Owners of multiple pieces will also be extended additional opportunities. TIME was the first media brand to add Connect Wallet, validate TIMEPiece NFT ownership and serve the TIME subscription content seamlessly along with a membership rewards program.
The Why
"While many of the NFT drops that have happened to date within the media space have focused on high-end single editions or multiple versions of collectibles, the release of TIMEPieces marks the first time a major media brand has taken on a Web3 approach toward building community and using this technology as an innovative extension of our current Digital Subscription efforts,” said former TIME president Keith Grossman at the last year's launch.
Our 0.02ETH 🍃
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The end of a web3 loyalty program doesn’t mean the end of its value.
What Starbucks Odyssey taught us.
Recently, we examined why web2 toolkits like Reddit Pro aren’t the best option for brands that want to engage consumers and retain loyalty across their products and experiences.
So what is? Drumroll, please.
From art to sports, luxury fashion, and even credit cards, Web3 is ushering in an entirely new set of tools for brands that want to build deeper connections with communities across dynamic environments that they can customize to their greatest needs.
Let’s break down some of the benefits we talked about last week in greater detail, starting with web3’s ability to help brands:
- Gain insights into customer activity and behavior across both online and real-world touchpoints.
- Leverage new analytics by connecting data from wallet signatures and onchain activity to build richer profiles and segment audiences more effectively.
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Mojito Brought the Toledo Museum of Art’s Debut Web3 Collection to Market with 10,000 NFTs — and Zero Code
Learn how we helped the museum tell an essential cultural story through the power of digital art and community.
Mojito's technology breathes life into dynamic web3 experiences for brands. We simplify the complex backend, allowing the front end to effortlessly focus on the fun stuff – including sticky consumer engagement.
Our recent collaboration with the forward-thinking museum turned this vision into reality. Mojito worked with Toledo's team to orchestrate a digital art experience by Osinachi & Yusuf Lateef. Our community engagement portal enabled Toledo to provide a smooth minting process, hassle-free claims, turnkey community management and reporting for the museum. The result? A powerful drop of 10,000 NFTs.
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The Web3-ification of Credit Card Loyalty Programs
Visa's new web3 loyalty program is no accident.
Swipe (or nowadays, tap) your credit card, and earn points. A process that’s now commonplace has a lengthy history that can teach us more than a few things about customer loyalty — and its journey through technology. Let’s start at the beginning.
From paper to plastic 💳
While the history of credit cards dates back thousands of years, things turned from stone to metal — and later paper and plastic — about halfway through the 20th century with the arrival of the modern credit card in 1950. Reportedly invented following a case of a forgotten wallet, The Diner’s Club Card (initially owned by Discover Financial Services before its acquisition by BMO in 2009) was the first multipurpose charge card credit card intended primarily for dining and travel expenses.
The Diner’s Club was also the first to pair the concept of charging credit with fueling consumer loyalty through the inception of points. Through partnering with dining, entertainment, and later, travel entities (i.e., airlines, rental cars, and hotels), Diners Club cardholders paid a tiered annual fee to gain special perks based on how much money they spent. The greater the yearly fee, the greater the perks.
About eight years following Diner’s Club in 1958, American Express entered the credit card industry with the world’s first international charge card, which initially had an annual fee of $6 (one dollar more than Diner’s Club). Shortly after, Bank of America and Mastercard followed suit. During this initial period, most credit cards focused on offering customers just that — credit — with loyalty and reward yet to take off.
