NFT's launched by Scents of Wood case study thumbnail image which is showcasing some of their released NFTs

How Perfume Brands Are Unlocking New Monetization Streams Using Phygital NFTs

‘What do I wear to bed? Why, Chanel No. 5 of course.’ – Marilyn Monroe

Introduction

Historically, successful perfume brands have created powerful branding around their perfumes, to the extent that they have become a status symbol for many who wear them.

Celebrities have their favorites, and so do each of us. The advertisements created around perfumes also try to evoke an emotion they want to associate with. 

However, never have perfume brands tried to build strong direct-to-consumer relationships in the past, other than simple loyalty cards. 

With phygital NFTs, that is rapidly changing.

Case Study 1

The Scents of Wood Company just launched the world’s first fragrance subscription available exclusively through the purchase of an NFT.

Scents of Wood is a fragrance brand inspired by trees and forests, and is challenging the status quo of the luxury fragrance industry with its subscription model, resulting in a brand whose sales are more than 90% digital – completely unheard of in the luxury fragrance industry. 

2,000 rare fragrance NFTs will be sold and 20 will be gifted - these are not available on their website. Their aim is to build a vibrant community of fragrance lovers.

NFT tokens can be purchased with regular credit cards alongside crypto-currency.

Their monthly subscription lasts one year and, with it, one gets a candle and the fragrance. Rather than 12 deliveries with 10-ml of the scents, they will offer full-size fragrances four times a year.

They believe the business model will allow Scents of Wood to cater to the desires of fans much better. Every six months, holders will be asked to vote on their choice of perfumer for the next scent, making this the first case of creative crowd-sourcing in the history of fragrance.

Holders will also be asked to vote on the allocation of funds raised by the NFT, or the choice of ingredients, and more.

They’ll be granted access to brand workshops and one-on-one conversations with perfumers during meetups – the first one being at ScentXplore in New York in December 2022.

Case Study 2

Berlin-based Look Labs has created a digital fragrance using near-infrared spectroscopy to create a digital reflection of the scent, which has been encoded as an NFT.

The studio recorded the molecular wavelengths of a perfume named Cyber Eau de Parfum to make the digital artwork - in collaboration with Montreal-based digital artist Sean Caruso.

Interestingly, the digital scent is an extracted digital reflection of the physical scent - making this NFT the world's first digital fragrance.

The physical Cyber Eau de Parfum is a unisex perfume that is being released separately. Alongside the scent, Look Labs has created 10 digital artworks backed by NFTs, which act as blockchain-based certificates of authenticity.

How Supercraft Can Help

At Supercraft, we are simplifying the process of launching Phygital and Digital Product NFTs for brands, enabling you to unlock multi-tiered community and membership features around your product.

With our tools and API, you can reach out to your existing customers and engage new buyers with special experiences ranging from access passes to events to giving you feedback on the next best-selling product you should create!  

Buyers are able to showcase their ‘Proof of Possession’ of your product using the NFT they hold, which they can share on their social media channels; they can join your buyer community through the Digital Community Pass. 

Conclusion

If you are a perfume brand, or any brand whose product has a strong brand recall, unlocking new ways of engaging your fanbase might be just round the corner.

Schedule a call with us to learn more.