Try before you buy

Our second product is a Try-Before-You-Buy (TBYB) solution for NFTs.

What is Try Before You Buy?

'Try before you buy' is a service that allows users to experience a product before purchasing it. In the context of NFTs, it provides users with temporary access to a digital asset for a set period, enabling them to explore the NFT's features, utility, and compatibility with their needs or preferences. Once the trial period is over, the user has the option to buy the NFT if they found the experience satisfactory or not.

Why implementing a TBYB solution?

TBYB programs have been widely implemented for web2 companies (such as Amazon, Youtube, etc.) to enhance the overall shopping experience and build customer trust. It can take multiple forms, such as a free trial period for software platforms, allowing customers to sign up for a trial of a service for a set amount of time before being charged, or product samples for food, cosmetic, and consumer goods companies.

TBYB programs are very popular because it helps companies increase their sales by making their product their first business developer. Advantages of these programs notably include:

  • Build brand confidence: it gives users a risk-free way to see what you have to offer and how it works. It also demonstrates a strong confidence in the product and its ability to deliver what users expect. Notably in web3 where trust has been damaged by scams, this level of transparency and honesty is game-changer for building projects' trust ;

  • Increase customer satisfaction, and get valuable feedback on the product ;

  • Acquire new users: reducing the barrier of purchase allows projects to acquire new users, reducing costs of advertising. Conversion rates are also positively impacted ; benchmarks for freemium model are under 10%, while they are between 25% and 50% for free trials models.

Our solution

Our decentralized TBYB solution for NFTs works as a classic trial period solution. To benefit from the full potential of the service, a partnership has to be established with the project issuing the digital assets.

The functioning is the following:

  • At checkout, the user has the opportunity to try the asset for a limited period. In one click the trial period starts ;

  • The user receives a wrapped version of the NFT in his wallet. This mirror asset allows to delegate utilities ;

  • At the end of the trial period, the user can decide to buy the NFT directly, split the payment over several weeks or not make the purchase.

What are the benefits of using Nemeos TBYB solution ?

Our solution is a very powerful tool to build trust and onboard new users. Benefits for web3 projects can be summarized in four points bellow:

  • Get new users

    Allow web2 users to jump into web3 by giving them the possibility to try NFT-based experiences. The product will be a top-performing acquisition method, with the best conversion rate.

  • Strengthen the brand image

    Demonstrate confidence in the product and its ability to deliver what is promised. Build brand trust through transparency.

  • Animate the community

    Build a strong relationship with the community by fully understanding their preferences and expectations. Leverage this relationship to offer an optimized customer experience.

  • Unlock new usages

    Ease NFT circulation between community members by going further and develop the pay-per-use functionality. Create new reward programs, new quests, new referral mechanisms and facilite scholarships.

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