Product Features
SWAPables - Redeemable NFTs for Real World Goods
Company
Fantastec
Year
2023
Problem
Across US colleges we were seeking to increase sales of NFTs that featured collectible sports moments among fans of college football in our partner Universities of Michigan, Michigan State, Syracuse and Illinois. Through field research we identified a value proposition problem. We found student fans main spending motivation is to enjoy the college game occasion with friends and have food and drink. Adding game ticket cost meant these were priority items for their limited spend and NFTs were not considered as spending $10-$20 on SWAP collectibles (NFTs) was not a high motivation without a clear benefit.
Solution
We explored qualitative research to understand if when buying an NFT pack, receiving a token which could be used to buy food or drink at the game would change consideration and purchase action ? Our research identified that this was highly motivating if the exchange value was $15-$20 for 63% of the cohort (100 student fans at each university).
Results
Leading the product team we created a Redeemable token design which was differentiated from sports collectibles which were named SWAPables. the token was vibrant and descriptive of its offer. We built an MVP (minimum viable product) to test how user might collect, store and manage their SWAPables. We worked closely with the tech team to solve how a user would redeem the SWAPable and how we would manage the adding of SWAPables to our Content Management System.
We conducted a trial for a Milk Shake at Michigan State University’s famous Diary Store . During June 2023 of the 2000 Milk Shake SWAPables found in packs, over 82% were redeemed at the Dairy Store and pack sales revenue increased 240%.
The success of the project lead to the full implementation of the technology across the new Fantastec SWAP UI ready for launch in September 2023 at the start of the new college football season.
Pioneering Autograph NFTs
Company
Fantastec
Year
2019- 2023
Problem
As a fan of any sports or profession, possessing an autograph is a real treasure. But getting hold of an autograph that you know 100% has come from your sports or movie idol is only possible if you meet them and get it yourself. And even then, how do you prove to others that the autograph is genuine and not fake? No matter what the memorabilia on the Hard Rock walls or in the sports halls, there is no way to prove authenticity. Until Blockchain came along.
Solution
We know that Blockchains and the NFTs that are minted on them are true ledgers of not only ownership but also origination and scarcity. Decentralised Blockchains are available to be viewed with all data evident. It can be seen how many NFTs are minted and this cannot ever be manipulated.
At Fantastec SWAP we wanted global fans of the world’s top football teams to have a better and provable chance of owning an authentic autograph of their sports idols. Recognising the problem I devised a content production system to capture every sweep and intonation of the authentic hand signed autograph of the players in real time on plate glass. These autographs were digitally captured were then added to the NFT to be bought, held and viewed. They were still rare with no more than 1000 per player per season. But they were authentic, genuine and pioneering. Our users loved them.
Results
Between 2019 and 2022 Fantastec SWAP created and made available in its NFT packs 500 signatures in home kit and 500 in Away kit every season for each of our 3 clubs. At a price of between £20-£40 we sold over 78% of signature packs. The Player autographs always generated attention and the ‘wow’ factor and remain the the OG in this sector and Fantastec SWAP was the pioneer.
Autographs were captured by 4K camera’s against green screens. Players signed a 2.6m sheet of glass and footage was adapted in post production and incorporated into unique NFTs and minted on the Blockchain.
SWAP Marketplace - Peer to Peer buying and Selling
Company
Fantastec
Year
2021
Desktop / Responsive Webapp screens App: Main Market screen and Buy Screen
Problem
Between 2019 and Spring 2021 Fantastec SWAP had a flourishing swap market with thousands of daily swap transactions across the world. However as the global NFT wave grew, we learned from our users that the lack of NFT liquidity was limiting the value we could have for our NFT packs and the secondary value our users could have from the NFTs they collected and and of their favourite football moments. We needed a peer to peer secondary market where users could sell their NFT’s like our competitors at Sorare and NBA Top Shot.
Solution
Fantastec SWAP was built of a permissioned Blockchain. To enable our users to buy and sell their owned NFTs we needed to accomplish three massive goals:
Migrate all 576,000 users and their 2 million + NFTs to a new decentralised Blockchain (Flow)
Build all the necessary back end infrastructure and smart contracts to update and query the flow blockchain to manage the buy and sell transactions
Build a whole new front end interface on mobile to enable the core functions to buy, list, sell, review, deposit funds to a wallet, withdraw funds from a wallet and maintain privacy and security
Furthermore we needed to provide a desktop solution for the early adopters of NFT markets who were predominantly purchasers who preferred to explore NFT platforms on desktop.
Results
The product team and engineering team worked through a series of feature and functional sprints across 2021 to facilitate the migration of all users by October 2021. Our Secondary market was launched in December 2021 to the delight of our users. Over 10,000 market trades were concluded within six weeks of launch with the highest sale of $23,000 and the highest value NFT listing (Gareth Bales Champions League Final overhead kick goal from 2019) of $500,000.
The Autumn 2021 anticipation of our secondary market combined with the peak of the NFT and Crypto Bull run meant that our collection drops from our store were selling out within a matter of minutes.
Native Mobile App: Main Market screen, NFT Listings screen and Buy Screen
SWAP Rewards Ladder
Company
Fantastec
Year
2020
Problem
In 2020 through user surveys and regular town halls we identified that as more collections and NFTs became available, our users wanted other ways to get NFTs than buying, either by earning them or winning them. They also wanted to see more competitions and exclusive prizes from the football clubs we represented. We did not want to simply have a ‘promotions’ bag of give away’s where somebody with 10 NFTs had the same chance as somebody with 500 NFTs. We felt we should give users a chance to be rewarded for collecting (or staking as it is known in crypto when tokens are held and not sold, thereby making them more scarce on the market and and raising their value
Solution
I led the research group and MVP testing of a Rewards feature where each NFT would have a points value (based on its rarity). See the ‘Systems Innovation’ section of my portfolio for more detail. By the second half of 2020 we had validated a set of parameters which could be coded into a new Rewards Feature of the SWAP app. The feature would earn users that collected more and more NFTs an array of benefits like free or special edition NFTs, merchandise or entry to competitions for VIP football related experiences.
Results
By October 2020 the SWAP rewards feature was released empowering NFT collectors to earn unique NFTs for any of our clubs across the season. We also had a format for awarding users with the chance of winning signed merchandise prizes through an entry board triggered at certain points level thresholds.
Data Analysis of the feature showed an increase in the average user engagement by 34% among active users. All tier 1 to tier 3 level Rewards were claimed by 56% of users stimulating a 17% increase in pack sales and increasing the average number of NFTs collected by 245%.
While the feature was quite basic in its UI, it worked well and was continually improved including the addition of a US college Rewards ladder in 2022.
Below: 2021 Rewards Entry Screen, Claim CTA, Points summary screen and Rewards Ladder
Below: 2022 Rewards Update to include US college sports featuring competition Entry-board for engaged collectors with eligible points accumulation
