Each NFT is different in value and attributes, each NFT has its own hash value, and each NFT is unique. Therefore, NFT can effectively correspond to physical objects, and more and more people realize the value of NFT. It can not only prove the ownership and authenticity of intellectual property such as original artwork and game tokens, but also represent expensive physical assets such as luxury goods and real estate.

first level title

NFT primary sales + secondary royalty income

Starbucks

• Starbucks

On September 12, 2022, Starbucks announced some details of its Web3 Odyssey plan, saying that it will design new scenarios based on Web3, combine NFT with membership card system, release NFT digital collections, design Metaverse, etc., all NFT Will be published on polygon. As early as April of the same year, Starbucks CEO Howard Schuiltz said that Starbucks would "get involved in the NFT business" before the end of the year.

By completing some tasks (interaction, consumption activities, etc.), users can earn points to redeem "stamps (NFT)", which can be used to redeem some meaningful (physical or virtual) commodities, courses, or according to Starbucks' Roadmap Can be sold at a later date. This model will greatly mobilize the interest and spread of users.

Starbucks also understands that the biggest pain point of Web3 for ordinary users is the threshold, so it avoids some vocabulary and complex operations such as NFT and wallet, so that all operations of users can be completed on its App, and it will allow users to purchase in legal currency in the future NFT has lowered the threshold, allowing its 2500w users to switch to Web3 very well-presumably this will also be followed by other brands that want to enter Web3.

The core of Starbucks' integration into Web3 is to lower the threshold and migrate a large number of Web2 users who have settled in parallel, so that the relationship between the brand and users becomes a co-creator.

• NBA

I have to mention NBA TopShot here. NBA TopShot is a blockchain-based collection game jointly launched by Dapper Labs, the founding team of CryptoKitties, and the NBA. At that time, it almost rekindled users' enthusiasm for the NFT collectibles market by itself. NBA TopShot's star cards are not only collectible, the team will also develop game functions in the future to give it more playability.

Just like fans will buy CDs of favorite idols, NBA TopShot also unleashes the IP potential of NBA stars and the purchasing power of sports fans. Relying on the powerful IP of stars, NBA TopShot has attracted many fans outside the circle of NBA star groups.

The success of NBA TopShot can be replicated. A good IP has a very strong attraction and circle-breaking effect. Many NFT projects have also begun to focus on IP attributes, which has also given many sports brands a good start.

The NBA's approach is more direct. Using the fan effect of its own billion fans and star IP, it has successfully attracted Web2 fans who can learn to use the threshold and Web3 fans into NBA TopShot.

• nike

In December 2021, Nike acquired the virtual sports shoe company RTFKT (RTFKT and Takashi Murakami had cooperated to develop CloneX), fully launching the clarion call to enter Web3; on November 14, 2022, the sports giant Nike announced the launch of the NFT integrated platform.Swoosh , Officially gain a foothold in Web3. According to the official introduction, .Swoosh is a virtual creation platform where users can design virtual items, including sneakers, clothing, accessories, and other items that can be worn in games or immersive experiences. The platform also provides display, collection , The function of trading these virtual items, the platform will share the royalties of these digital products with the creators.

In addition, Nike has also built its own virtual world on Roblox and released NFT blind boxes, which can be said to gradually improve its own Web3 ecology from 0 to 1.

Nike should be the most ambitious sports brand to enter Web3 at present. The appearance of .Swoosh aggregates its scattered layout, and the ecological layout becomes clearer, which is convenient for future expansion.

• Tiffany

In August 2022, Tiffany released a limited edition of 250 custom NFTiff CryptoPunks pendant NFTs handcrafted by Tiffany artisans and bound to real objects. NFTiffs can be purchased and redeemed by CryptoPunks holders to produce physical pendants and digital artwork.

Compared with the first three brands, Tiffany's attempt is relatively simple and lightweight-to do a joint name, but the effect achieved is still very good, which has sparked discussions among people inside and outside the circle for a long time. Perhaps many brands will follow suit and carry out similar cooperation with blue-chip projects. After all, the core of Web3 is the community, which is the fastest way to enter the community.

There are basically two core purposes for traditional brands to enter Web3. On the one hand, it is to seize this emerging market and avoid the risk of being eliminated in the new era as much as possible; on the other hand, it is to try to maintain some users (or income) ) increments, trying to find ways to transition the outdated business model. At present, there is no completely benchmarking style of play in the industry, and various brands are trying. Although the gameplay and layout are not completely consistent, they all show the prospect of Web3 and inject vitality into the industry.

So, what is the key to the smooth entry of traditional giants?

1. Can traditional users be transferred to Web3 without threshold.

There is a saying in the traditional product circle, "Each additional layer of interaction will reduce 80% of users". The countless operating thresholds of Web3 are the key to preventing users from entering the game. If the threshold can be lowered to allow users to migrate to Web3 in parallel, it will bring a lot of fresh blood to its own brand in the Web3 field.

2. Can build and maintain a good community.

The core of Web3 is users. Whether Degen can truly grasp the needs of users and integrate with community users is the key to sustainable high-quality development—this is why many traditional brands with pride cannot gain a foothold in Web3.

3. Do you have a long-term plan?

When NFT was hot, it rushed in with a bloody head; when the metaverse was on fire, it entered the market with huge sums of money. This is the practice of many traditional brands, but they may not understand the core logic of Web3. When the popularity goes down, it will naturally stop, wasting money and energy. Clarify one's own position in Web3, design and implement the Roadmap, and focus on long-term interests step by step to stand in the end.

The evolution of consumption patterns and the Internet has silently affected people's usage habits. Behind every huge consumption pattern upgrade, new consumer demands and new industry opportunities will be generated, which will be a good time for new brands to gain a foothold and old brands to turn around. opportunity.

Will the new Web3 giants be emerging teams, or traditional giants with deep pockets? Will the industry go against its original intention and be monopolized by capital like Web2? I am afraid that these are the issues that everyone is most concerned about. But fortunately, in this industry full of freedom, users are no longer screws, everyone can speak up and become a builder~ The entry of giants is not an invasion, but a recognition of the industry; the future of Web3 is worth our expectation !

NFT Labs provides relevant information only and does not constitute any investment advice.