With the saturated sphere of marketing, real-life engagement, tailored experiences, and memorable moments becoming more in demand from consumers, social media has unlocked the door to unprecedented visibility, where fans can follow the activities and interactions of their favorite stars.
Olyseum is looking to take things a step further than simply visibility. The company has the vision of creating a social ecosystem that rewards fans for their loyalty, and allows stars to be closer to their fan base.
For this reason, Olyseum has created the experiential NFT (xNFT), which provides an extra layer of value. X stands for experiential, exclusive, and an expanding intrinsic value. xNFTs allow fans to have experiences and monetize engagement.
Fans are familiar with physical collectibles that have been linked intrinsically to the world of fandom for decades. According to Grenoir, this new form of interaction will be different from the one fans had before because it will include experiences with stars, which is always unique and exclusive by its very nature.
"All fans want to get closer to stars, and they also want to have something unique, but not only, for example, a piece of art or some signed t-shirt, but also an experience. That's a real non-fungible asset. Let's say it like this,"
notes Grenoir.
Olyseum’s community can create, sell, and lend xNFTs and experiences. xNFTs will include the rights to interact with celebrities. The technology will also allow the certification of the connection between stars and fans. This innovative approach might set a new standard, as the right to approach celebrity engagement will become a tradable asset.
These xNFTs are expected to increase in value, as there are commissions on resales. The holder of an xNFT can claim the experience by simply connecting their wallet in which the xNFT is held.
This motivates both fans and celebrities to participate in the Olyseum ecosystem. Celebrities will be able to monetize their star power and elevate their brand, while collectors will be able to generate a profit by not only selling xNFTs, but also by renting the experience associated with it.
"When you buy this NFT, you get an experience that is attached to it, and then you can live this experience. Or you can also invest in this right to be with a star,"
explains Grenoir.