Lifestyle brands across the world have jumped onto the NFT bandwagon. Now, one of Thailand’s most enduring brands is about to join the blockchain-backed party.
Tomorrow, which marks World Elephant Day, Jim Thompson will release its first NFT, or non-fungible token, in partnership with cryptocurrency exchange Binance and NFKings Productions.
What’s billed as Jim Thompson’s first foray into NFTs sees the artwork released in the form of a “mystery box.” Inside the boxes find at least one of a limited series of 10 collectible elephants, each assigned a different tier: common, rare, super rare, and super special rare.
But the purchases come with more than just digital keepsakes.
Everyone who buys an NFT from the first sale also gets a one-year membership to Jim Thompson’s loyalty program. The membership level, and the discounts it affords, hinges on the rarity of the elephant you find in your mystery box.
If you collect one elephant from every tier, you’ll also be entered in a draw for special prizes. Those range from vouchers and private dinners to two-night stays at the Jim Thompson Suite at the Mandarin Oriental and the chance to name an elephant rescued by the Save Elephant Foundation.
While most brands have used NFTs, in essence a digital collectible bought and sold with cryptocurrency, to cash in on a fad, some have redirected sales to good causes.
Jim Thompson will donate part of the proceeds to the Save Elephant Foundation, which provides care and sanctuary to elephants.
Such rescue foundations have been particularly hard-hit by the pandemic, as the revenue and donations they normally receive from tourists has practically disappeared.
To get in on the action, visit Binance at 6pm local time on Thursday. There will be 60,600 mystery boxes up for sale at US$20 (THB667) each.
This article, Famed silk purveyor jumps on NFT bandwagon with elephant loot crates, originally appeared on Coconuts, Asia’s leading alternative media company.