Mr Price recently launched a competition giving away nine non-fungible tokens (NFTs) to its Instagram followers. Dubbed “NF-Tees”, the collection features a strange-looking animated character doing dance moves while wearing different t-shirt designs.

One NFT concealed an R50,000 jackpot, while the other eight each offered a cash prize of R10,000.

The company stated on their Instagram platform that to stand a chance of winning one of the NFTs, fans had to comment on Mr Price’s Instagram page with their most unbelievable moment of 2022.

In addition, they had to share the post promoting the “NF-Tee” to their Instagram stories and tag Mr Price’s account.

Cape Town-based MetaLabs Africa handled the NFT campaign on behalf of Mr Price. The company has also worked on similar promotional campaigns for Savanna Cider and VW Polo.

In all three cases, MetaLabs has created the NFTs on the Polygon blockchain, which acts as a scaling layer for Ethereum.

The Savanna Cider campaign involved a system where NFTs would increase in rank from bronze to silver, to gold based on how much people laughed during its Comedy Bar Tour.

MetaLabs commented that Mr Price’s “NF-Tees” campaign aspires to take the clothing retailer into the metaverse, with winners able to use the NFTs as metaverse avatars.