How Are Brands Embracing Web3 Technology

Corporate giants are investing in #blockchain companies, and traditional companies are embracing #web3 tech as part of their #marketingactivations, proving to be very profitable.

One of the most popular ways to enter the web3 is by launching a #nft collection. Brands offer different utilities and/or metaverse experiences to their holders, generating brand relationship to grow stronger.

Up to date, Nike is the undisputed leader generating $185M in revenue with their NFTs sales, with almost 50% of that number generated via royalties sales, over 67.2k transactions.

Dolce & Gabbana, in second place, generated $25M in revenue, with a total of 9K transactions.

And in third place, Tiffany & Co., sold $12M in NFTs with only 74 transactions. That’s $170K per transaction!

Luxury, fashion and beverage brands are in the top 13 brands to win this NFT sales battle. See complete chart here. Info by Dune Analytics, dashboard by @nlevine19.

There has also been a push in hiring: Disney, CAA and others have been actively hiring Metaverse Officers and WEB3 experts to create a strategic plan for their marketing approach. Some companies such as Nike even went as far to acquire Web3 native company RTFKT and integrate it into its global community strategy.

Our take:

The number of traditional companies entering & investing in web3 in any form will continue to grow, but today we find brands on a “testing mode” phase. Brands are evaluating how this new technology can have a long term impact on their marketing efforts.

They have been creating in-and-out campaigns, not multiyear strategies, and that is ok. These are the years to explore, and to find the best way to connect with their customers in web3. Those who understand how this works first, will definitely be the winners.

Incorporating web3 as a long term activation may require an internal team, as this means to communicate with a tokenized community, and that relationship must be keep in time.

The infrastructure continues to be built as you read these words, and campaigns will grow bigger each year. Such good times are coming!

?? Let us know your thoughts.?