23/09/2022 Universal Studios planning Halloween-themed NFT scavenger hunts

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Your next trip to Universal Studios could include NFTs.
ROBERTO MACHADO NOA—LIGHTROCKET/GETTY IMAGES

The Universal Studios theme parks in California and Florida are adding non-fungible tokens to their list of attractions.

Through Oct. 31, park visitors will be able to participate in a Halloween-themed scavenger hunt that could result in minting some 7 million total NFTs. Seven QR codes will be hidden at each park, and each will mint an NFT when scanned. Visitors who find and scan all seven will receive a special NFT, which Moonpay, the crypto payments service partnering with Universal on the project, said will unlock additional perks.

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But the new NFT experience isn’t just for park visitors, MoonPay CEO Ivan Soto-Wright toldFortune—it provides the company with actionable customer data.

“If you’re CMO (chief marketing officer), you’re thinking okay, how do I increase the LTV?” he said, referring to the lifetime value of a customer. “How do I deepen the engagement with my end customer? And this is one just really good example.”

The rise of NFTs last year was bolstered by their use as digital collectibles. According to data from Dune Analytics, major brands including Nike, Dolce & Gabbana, and Tiffany have sold hundreds of millions of dollars worth of NFTs over the past year.

But NFT sales have since cratered. In July, the overall market hit a yearly low, according to Be[In]Crypto Research. In the last 30 days, transaction volume on the biggest NFT marketplace, OpenSea, was down 13%, to about $252 million, according to analytics platform DappRadar.

Soto-Wright toldFortunethat Universal’s NFTs shouldn’t be affected by declining markets—the use case is more about customer engagement and creating repeat visitors.

“For me,” added Soto-Wright, “this is the next wave, 100%. I mean, I think this is a natural progression.”

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https://fortune.com/crypto/2022/09/21/universal-studios-planning-halloween-themed-nft-scavenger-hunts/

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The idea for this piece was borne out of a tweet of mine that caused a bit of a stir. I’d posted a link to a blog article I’d written a number of months previous titled ‘Who is the Creator’ discussing various types of creative collaborations and why I hire people to work on my animations. It generated a lot of debate around creation and attribution with the community split on whether it’s right or wrong for an artist to hire other professionals to help them realize their art projects. I decided to push the boundaries even further and see how the cryptoart community responded. What if I quite literally had nothing to do with the physical or digital elements of the work other than coming up with the concept and coordinating it? I decided there was one artist in the space who could add huge value to this idea on levels that none other could and so I gathered my courage and contacted the great JosĂ© Delbo to ask him if he’d be interested in a very unique collaboration. I explained to him that to make this piece ‘work’ he couldn't have any say in what I produced and moreover, he wouldn’t even be allowed to see the animation until it was dropped on MakersPlace. To my surprise, Mr Delbo agreed to my proposal. The animation tells the story of the creative process, which includes my roles as writer, director, and producer working with a team and making edits and changes ‘in real time’. The dialogue between myself and my ‘hired guns’ plays out in front of the viewer. The music written for the piece adds to the nostalgia of the comic book superhero theme but other elements such as the snapping and kicking of the pencil and the signing of my signature at the bottom incorporates further layers and challenges the viewer to ask important questions, such as, is the ‘Art’ the final animation (the creation) or is the ‘Art’ the concept/credit for the creation itself?
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