It took 38 seconds for Axe to sell out of its 100 Dogecans, or what the Unilever brand called “IRL NFTs.” The real deodorant sticks featured a smiling picture of Doge, the Shiba Inu behind the meme-based cryptocurrency, and the deodorant purchase came with a digital receipt to mint an NFT on OpenSea, the NFT marketplace.
It was the second year that Axe promoted its “crypto-scented” deodorant in honor of Dogecoin, but it was the first combined with an NFT. There have been plenty of NFT drops and Web3 activations like these from major brands, but few ways of measuring success. The NFTs drop, they sell out, then brands move on.
“Brands need to think about the importance of KPIs [key performance indicators],” said Asha Susan Cherian, an independent Web3 consultant. “They’re collecting all these wallets and wallet addresses. What’s next?”
In this case, SmartMedia Technologies, a Web3 platform that helps brands develop NFTs and customized wallets, said that the 100 Dogecans sold out. The activation was small, but there were 1,265 wallet signups from people participating. Wallets are digital containers that plug into crypto exchanges and NFT marketplaces so the holders can trade crypto and NFTs and store them.