#82: Sports, Payments & Politics

Hey, it’s Marc. ?? Let’s dive in. ??

Read time: 3min

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?? Top 5 Reads

• Telegram: The Next Big Consumer Platform for Brands? By Marc Baumann. Link
• Brands in Web3: Challenges, Opportunities, and the Future of Consumer Engagement. (audio). With Maja Vujinovic & Marc Baumann. Link
• AI 'Digital Twins' approaching mainstream thresholds. By Michael Parekh. Link
• 2024 Elections: The Role of Crypto. By Grayscale. Link
• ...

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? Web3 & Consumer

Manchester United x Adidas

• Manchester United x Adidas bridge physical and digital with new phygital kit, targeting 77M Gen Z Roblox users

Zooming in: Manchester United and Adidas have launched their first-ever "phygital" collection,?featuring the new 2024/25 home kit and various other apparel items available both physically and digitally within Roblox's "adidas Outfit Creator."

They partnered with the agency Dubit, a metaverse studio and research firm specializing in youth audiences and digital experiences.

Why it matters: Brand recognition in the metaverse boosts IRL purchases.

• In the latest Roblox study, 56% of Gen Z users now say styling their avatar is more important to them than styling themselves in the physical world.?
• 50% are “very” or “extremely likely” to consider a brand in the physical world after wearing or trying a brand’s item virtually.
• 84% of Gen Z users said their physical style has been inspired by their avatar’s style.?

Punchline: We’ll see a lot more brands connecting their physical goods to gaming experiences. Hugo Boss joined Roblox last March to promote its new clothing line “Hugo Blue”, targeted at Gen Z.

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Coinbase Base: The New Darling of Web3 Consumer

• Coinbase has partnered with Stripe to make crypto faster and reduce the cost of crypto transfers and payouts. By integrating with Base, users can buy crypto instantly using credit cards and Apple Pay.

Why it matters: Coinbase has over 110M registered users. It is one of the most active and trusted exchanges in the US.

Punchline: Stripe’s integration on Base enables instant US fiat-to-crypto onramp with USDC with cheaper transfers to 150+ countries. With a 21% share of the global payment processing market, Stripe ranks as the second most widely used payment solution in the world.

Read the full story here.

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More on Web3:

• Ethereum Name Service (ENS) has launched a new brand identity and website to make Web3 more accessible and user-friendly. Link
• The Tezos Foundation, in partnership with Baanx and Mastercard, is launching a crypto debit card for fast and cheap payments accepted by over 110M merchants. Link
• Jupiter Exchange, the Solana DEX, launched Ape, a new platform for trading memecoins with enhanced security, token discovery, and automatic trade optimization. Link

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?? Crypto & Macro

Crypto is officially Political

The Republican Party (also called Grand Old Party) released its 2024 GOP Platform, highlighting crypto in Chapter 3: Building the Greatest Economy in the World.

Key Policies include:

• No creation of CBDCs
• Right to mine Bitcoin
• Right to self-custody
• No government control over crypto transactions

Zoom Out: This year, crypto has emerged as a political focal point. In a bid to challenge Biden, Trump has made a 180 on crypto post office. He’s even issued his own NFT and held $2.8M in a crypto wallet since last August.?

Contrast with Democrats: They have taken a stricter approach:

• The SEC has targeted major crypto companies without providing a clear regulatory framework.
• Senator Elizabeth Warren proposed a bill to restrict self-custody wallets.
• Yesterday, the US House of Representatives failed to override President Biden’s veto and rescind SEC Staff Accounting Bulletin (SAB) 121.

The big picture: This is huge for crypto, following years of contention with Gensler and the SEC. Crypto enthusiasts have plenty to be excited about with the GOP's new stance. While many issues will shape the 2024 election, it's notable that crypto gets a nod in the GOP's Innovation section, right alongside AI, manufacturing, and space exploration.

Punchline: Trump and the GOP's commitment could boost the crypto industry. It's a win for firms pushing for improved regulations. Yet, it’s uncertain if wooing digital asset traders will translate into more votes.

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More on Crypto:

• Former U.S. President Donald Trump will speak at the Bitcoin 2024 conference in Nashville. Link
• Goldman Sachs is diving deeper into crypto with three new tokenization products set to launch in the US and Europe. Link
• BlackRock's BUIDL fund became the first tokenized treasury to reach a $500M market cap. The total market for tokenized treasury funds is $1.67B, with Ethereum dominating 75% of the market share. Link
• ...

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??? Podcast Highlights

Episode: SEPHORA goes Web3

In our latest podcast episode, we had the pleasure of hosting Vincent Benoist, Global Innovation Project Director at SEPHORA. SEPHORA, founded in 1969 in France, is a multinational retailer focusing on beauty products and cosmetics.

Key Takeaways:

• Sephora Universe is a prototype designed to transform how people discover beauty products online through an immersive 3D virtual world.
• Research by Sephora shows that customers spend about 45 minutes exploring and trying products in physical stores but only around 5 minutes online.
• Customer interest in Sephora's virtual spaces was strong, but users also wanted connections to the physical world, such as samples or rewards. This indicates a shift towards more immersive experiences, and Sephora is committed to integrating these seamlessly into the customer journey.

Listen to it on Spotify, YouTube, or Apple Podcasts.

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?? Gaming

• Ubisoft, the French AAA game developer, has partnered with Double Jump.Tokyo to integrate Web3 elements into its games, starting with NFTs for Champions Tactics using the Oasys blockchain. Link
• TON-based recruitment platform Bondex launched the Telegram tap-to-earn mini-game Bunny Blitz and a $1M rewards campaign. Link
• Over $100M was invested in web3 gaming in May 2024, driven by technological advancements and increasing user engagement. GameFi saw a record high in daily active wallets, with significant investments in infrastructure and new gaming projects. Link

??Data & Insights

• Storj has acquired Valdi to merge its distributed cloud storage with Valdi's GPU compute platform, enhancing capabilities for generative AI workloads. The integration delivers scalable, high-performance cloud solutions while promoting digital sustainability. Link

....

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