Feasibility Analysis of Applying Coupons in the NFT Field

Coupons are a common marketing tool widely used on e-commerce platforms. They not only stimulate consumption but can also serve as rewards for users completing specific tasks, thereby increasing the platform's daily active user count, retention rate, and usage duration. Compared to direct cash distribution, coupons have characteristics such as limited usability, low liquidity, and cost lag, making them a more targeted and cost-effective choice.

When introducing the concept of coupons in the NFT field, it is necessary to consider whether the NFT itself is a consumer good or an investment product. For investment-type NFTs, although the coupons themselves have low liquidity, once associated with the NFT, they will acquire a certain liquidity attribute.

The introduction of coupons in the NFT ecosystem mainly involves two stages:

1. NFT Issuance Phase (Mint) At this stage, coupons can serve as rewards for early project promotion or to encourage more users to participate in minting. At this time, the issuer's cost mainly reflects a reduction in revenue rather than additional expenditure.

2. Secondary Market Trading Stage This stage involves three parties that may issue coupons: the NFT issuer, NFT holders, and the trading platform. Among them, the NFT issuer needs to establish a dedicated wallet to bear the coupon difference; NFT holders need technical support from the trading platform to issue coupons; the trading platform can issue coupons that cover all NFT transactions on the platform.

In the secondary market stage, whether it is the NFT issuer or the trading platform issuing coupons, there are additional expenditures required. Therefore, it is necessary to carefully weigh costs and benefits. For NFT issuers, the cost is the total amount of used coupons, while the benefits include users completing tasks and increased NFT liquidity. For trading platforms, the cost is also the total amount of used coupons, while the benefits are users completing tasks and increased platform trading volume.

However, the user behavior on NFT trading platforms currently differs from that of traditional e-commerce platforms. Users typically do not browse NFT trading platforms but rather make targeted purchases directly. At the same time, there are relatively few professional NFT sellers, making it difficult for the platform to generate additional revenue through advertisements.

In summary, introducing coupons during the issuance phase of NFTs is a more suitable approach. Compared to the currently popular lottery and whitelist mechanisms on social platforms, coupons can provide more diverse participation methods. However, during the secondary market phase, NFT issuers need to carefully assess the costs and benefits of distributing coupons. For NFT holders and trading platforms, the feasibility and profitability of issuing coupons are relatively low.