Are NFTs and the Metaverse the Future of Retail? A real conviction within the Casino group

The condition NFT (abbreviation of ” non-fungible token ”) is increasingly in the news and the concept of digital assets is permeating many sectors of activity. The For example, NFT has recently attracted the attention of several large retail players, such as Carrefour and the Casino group., which has multiplied the initiatives in the field. Is this growing reliance on Web 3.0 capabilities part of a communications approach or is it symptomatic of an ongoing evolution in retail?

NFT in Retail

lEnterprise foray into Web 3.0 is part of the concern to anticipate changes in the consumption habits of the French and to keep up with the latest technological innovations. The With NFT, brands can indeed improve their efficiency, especially in terms of customer loyalty (digital tokens can be passed on to a new owner, unlike a traditional loyalty account). Moreover, digital assets have the advantage that brands can build communities around their products and highlight CSR activities. For example, the French distributor Carrefour had launched bee NFTs on the market to make its customers aware of the conservation of these insects.

Luxury offers items in NFT

Creating value with NFTs

If the use of NFTs enables brands to: broadcast a more modern imageConnected and aligned with the latest digital trends, digital assets also show potential leverage for growth. In this sense, NFTs enable brands to create value with virtual assets alongside real ones. In Dec 2021, For example, Adidas unveiled a collection of 30,000 tokens, sold at a price of 0.2 ether. (cryptocurrency Ethereum) each, which then equaled about 700 euros. The operation proved very successful for Adidas, which sold the equivalent of 20 million euros in NFT. In addition to clothing that can be worn by their avatars on the platform The sandpit, the owners of these NFTs will also benefit from physical clothing and will mainly be able to resell their digital assets through specialized platforms. The NFT and the Metaverse seem to be mainly attracting luxury brands, who see it as an unprecedented way to convey a premium image. Joël Hazan (associate director at BCG and co-author of the report “Luxury Outlook 2022”) explains that “NFTs allow to reinvent the concepts of possession and scarcity while creating a strong sense of community connection “. Indeed, Gucci, Prada or Louis Vuitton are so many luxury brands that have already launched NFT collections., an approach that also enables them to better tackle counterfeiting. Luxury players, on the other hand, are not alone in seeing the potential of NFTs and Metavers as a leverage for growth and a factor of differentiation.

Selling in the Metaverse?

The past year has indeed been marked the arrival of several French retailers in the Metavers, with distributors eager not to miss a chance to get on the train – considered promising – NFTs. Casino Immobilier President Nicolas Joly had explained to Le Figaro that he was convinced “that tomorrow web3 and NFTs will be an integral part of our customers’ journey”.

The Casino group arrives in the Metaverse

The Casino group arrives in the Metaverse

the group led by Jean-Charles Naouri made its official entry into the Metavers in February 2022 with the purchase of virtual land on The Sandbox for Club Leader Price subscribers. Thus, by playing on this virtual platform, they can get rewards in the form of vouchers or discounts. the dGeneral Manager of Casino Immobilier Nicolas Joly subsequently informed Les Echos that parcels had been acquired under this operation from the end of 2021, which meant that the distributor the first French retail player to enter the Metaverse. This initiative is part of the strategic vision developed by the CEO of the French group. Indeed, Jean-Charles Naouri had confided to the newspaper Les Echos (in an interview dated January 2022) that the food distribution sector is undergoing a revolution “similar to that which the non-food sector is going through with the e-trade”.

A globalization of NFTs

Recruitment at Carrefour in the Metavers

Recruitment at Carrefour in the Metavers

in April 2022, Monoprix teamed up with renowned designers to celebrate its 90th anniversary. This is how the Casino Group brand was launched two collections totaling 180 NFTs, created by pastry chef Yazid Ichemrahen and designer Vincent Darré. The choice to offer Artistic Tokens takes full advantage of the specificity and added value of NFTs, as explained by Nicolas Diacono, Analyst at Echangeur BNP Paribas Personal Finance, “the buying experience of customers goes far beyond the transaction and is no longer limited to the physical Product”.

Carrefour has also delved into the subject, with the acquisition of virtual land on The Sandbox and the launch (in May 2022) of a recruiting space in the Metaverseto entice the younger generations who are considered particularly sensitive to the developments in Web 3.0.

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