Indonesian confectionary brand FOX’s has adopted NFT as a promotional platform for the launch of its latest product line, Heritage. FOX's joins the list of brands including Gap and Gucci that have ventured into the metaverse in recent times. FOX’s Heritage features candy with deeply rooted flavours in Indonesia, such as tamarind and ginger. It worked with local artist Fahmi Uco to create a digital art titled “Lestari Rasa Indonesia #SatuNusaKayaRasa”. It also worked with digital agency Froyo Story to distribute a limited number of digital artworks through Hic Et Nunc NFT Marketplace, which can be collected for free.
Vanessa Ingrid Pamela, category brand manager from FOX’s candy, said that in this campaign, the brand wanted to deliver a product that carries the local flavours as well as become more relevant to its target audience. “We’re very much aware that in this competitive age, even a good product would need the right marketing strategy so that it could be received well by the consumers,” she added.
Zehrina Riskyankeiko, Froyo Story’s managing director, said that the challenge lay in marketing flavours that are related to being traditional or nostalgic in a contextually interesting way. “Our potential market right now is very aware and curious about NFTs, and which both contextually and exposure wise we could exploit through utilising it for product launch. For it is important to understand that in awareness of a product, a wide exposure alone isn’t enough,” she added.
Owned by Savoria Kreasi Rasa, Djarum Group, FOX's candies are known for its unique smooth texture and clarity. MARKETING-INTERACTIVE has reached out to FOX for additional responses.
Research by market research firm Brandessence Market saw a growth of 328% in NFT transactions during the first half of 2021, and third quarter of 2021. The growing entry of major players such as Microsoft, Tesla, and Starbucks, coupled with the increasing appeal of tokenisation through crypto currencies remain a key driver of growth, the firm said.
Most recently, Gucci doubled down on its commitment in the metaverse last month by purchasing an undisclosed amount of virtual land on The Sandbox, according to Vogue. According to a tweet from Gucci, the virtual world will feature its "Gucci Vault" platform, which is an umbrella for fashion house's metaverse-related projects. Gucci Vault is an experimental online space created by the luxury brand from the vision of the creative director, Alessandro Michele. The vault is also where the luxury house sells its recent NFT collection and vintage pieces.
Other brands include Gap, which partnered with Frank Ape artist, Brandon Sines, in the debut of its first collection of NFTs, as well as Barbie, Mattel, which partnered with French luxury fashion label Balmain in January to release an imminent collection and a series of exclusive NFTs. According to Mattel, the collection was developed as a celebration of both Barbie and Balmain’s combined impact on fashion and greater culture. The collaboration also marked Barbie's first debut in the digital art world, with three one-of-a-kind NFTs of Barbie and Ken avatars.
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