The gaming, entertainment and loyalty industries are poised for big changes, thanks to Web3 tech such as NFTs and DAOs. We talk to the experts on how. Plus, Nike and Puma announced new digital partnerships that show Web3 is still kicking.
This week, we spoke to experts from across the entertainment, loyalty and gaming sectors about mass adoption. The general consensus? We’re getting closer, though it’ll probably look way more subtle than you think.
Also, global footwear giants Nike and Puma announced new partnerships and digital sneaker releases that offer meaningful utility and thoughtful designs.
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This Week’s Alpha
Onboarding the next billion users: Experts from across the entertainment, loyalty and gaming sectors made their cases for why their industries are poised to bring about mass adoption of Web3. While the broader crypto market is down and experiencing numerous challenges, the sentiment around Web3 and a decentralized, creator-focused digital future remains positive.
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Entertainment as a “stealthy” tool: Visual media like TV and movies have the potential to onboard mass consumers in a gradual and fluid way, according to executives in the entertainment industry. “Mainstream adoption will probably look less like a conscious choice and will just happen to be powered by this technology,” Chris Jacquemin, says head of digital strategy at global talent agency WME.
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NFT memberships and supercharging fandom: Thanks to NFTs, artists are able control how their tickets are distributed and reward their fans for engagement, experts in the ticketing and loyalty field say. “Any artist who is minting their own NFTs can explore token-gated sales, which can be used to help match token holders with premier seats, pre-show experiences or to simply give first access to all tickets on an upcoming tour,” said David Marcus, EVP of music at Ticketmaster.
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Gaming that provides “true ownership” of assets: Gamers around the world are spending billions of dollars each year on in-game assets – without actually owning those assets, according to gaming industry leaders. NFTs allow players to buy, sell and trade those assets, giving them value inside and outside of the game. “It’s about just getting something back for what you put into it, in terms of possessing some sort of interoperable utility,” said Spencer Tucker, chief gaming officer at Yuga Labs.
Fancy footwork: Major sneaker companies have continued to team up with both Web2 and Web3 brands to bring digital collectibles to their millions of fans. Their collaborations offer meaningful utility and thoughtfully designed digital items that prove Web3 doesn’t have to feel forced or clunky for global brands.
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Battle Royale: Nike continued its digital expansion with a new partnership, bringing its .SWOOSH experience to Fortnite’s 240 million users. “Airphoria,” a collaboration between Nike, Fortnite creator Epic Games and branded game builder Beyond Creative, will enable players to opt-in to connecting their digital items across the Fortnite and .SWOOSH ecosystems. “This is all 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,” an Epic Games spokesperson told CoinDesk.
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Cat’s meow: Global sneaker brand Puma released a new pair of sneakers called the “GutterMelo MB.03” that link real-world kicks to NFTs. The colorful drop is a collaboration between Puma, Web3 streetwear brand Gutter Cat Gang and NBA player LaMelo Ball.
Link: https://www.coindesk.com/web3/2023/06/23/how-gaming-loyalty-and-entertainment-are-adapting-to-the-rise-of-nfts-and-web3/?utm_source=pocket_saves
Source: https://www.coindesk.com
