Web3 tech like NFTs and DAOs will transform gaming, entertainment, and loyalty. Experts advise us. Nike and Puma announced new digital agreements, proving Web3 is alive.
This week, we discussed widespread adoption with professionals from the entertainment, loyalty, and gaming industries. the prevailing opinion? Though it’ll probably appear far more subtly than you anticipate, we’re getting closer. Additionally, the world’s largest shoe companies, Nike and Puma, announced new collaborations and digital sneaker releases that provide useful functionality and intelligent designs.
Alpha for this Week
Onboarding the next billion users: Industry leaders from the gaming, entertainment, and loyalty sectors presented their arguments for why their sectors are best positioned to drive widespread Web3 adoption. The outlook for Web3 and a decentralized, creator-focused digital future is good, even while the overall cryptocurrency market is down and facing various difficulties.
Entertainment as a “stealthy” tool: According to CEOs in the entertainment sector, visual media like TV and movies have the capacity to gradually and fluidly enlist mass audiences. According to Chris Jacquemin, head of digital strategy at global talent agency WME, “mainstream adoption will probably look less like a conscious choice and just happen to be powered by this technology.”
NFT memberships and boosting fandom: According to professionals in the ticketing and loyalty industries, NFTs provide artists control over how their tickets are distributed and allow them to reward their fans for participation. According to David Marcus, EVP of music at Ticketmaster, “Any artist who is minting their own NFTs can investigate token-gated sales, which can be used to match token holders with premium seats, pre-show experiences, or to simply give first access to all tickets on a forthcoming tour.
Games that give players “true ownership” of their assets
According to executives in the gaming industry, gamers worldwide spend billions of dollars annually for in-game items that they don’t actually possess. These assets have worth both inside and outside of the game thanks to NFTs, which enable users to buy, sell, and trade them. According to Spencer Tucker, chief gaming officer at Yuga Labs, “it’s about just getting something back for what you put into it, in terms of possessing some sort of interoperable utility.”
Major shoe manufacturers have kept working with Web2 and Web3 businesses to provide their millions of fans digital collectibles. Their partnerships demonstrate that Web3 doesn’t have to feel forced or clunky for major brands because they provide useful functionality and intelligently designed digital products.
Battle Royale: And then with a new agreement, Nike continued its digital growth by providing its.SWOOSH experience to Fortnite’s 240 million users. Players will be given the option to connect their digital things between the Fortnite and.SWOOSH ecosystems through “Airphoria,” a project created in partnership by Nike, Epic Games, the company that created Fortnite, and branded game developer Beyond Creative. According to an Epic Games official who talked to CoinDesk, “this is all a part of a larger effort to bring Nike’s Air Max brand into the world of Fortnite with cosmetics, Fortnite islands, and account linking between Nike and Epic.”
Finally the “GutterMelo MB.03” sneakers from the world-renowned sneaker company Puma connect traditional footwear with NFTs. NBA player LaMelo Ball, Web3 streetwear company Gutter Cat Gang, and Puma collaborated on the vibrant release.