When OG Consumer Brands start playing the NFT game too! 🛍️🍔💥
Part One is all about What We Know in our two-part trend report.
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ICYMI in the last 10 weeks we covered:
THIS WEEK’S DOPE NEW STARTUP IDEA COVERS:
* Brands + Burgers + NFTs 🛍️🍔💥
WHAT WE KNOW:
* The Market Indicators & Behavioral Consumer Trends we've identified.
>> [ the NFT market hits $22B! ]
- thanks dan!
Data from DappRadar, a firm that tracks sales, showed that trading in NFTs reached $22bn in 2021, compared with just $100m in 2020, and that the floor market cap of the top 100 NFTs ever issued – a measure of their collective value – was $16.7bn.
DappRadar said a key factor in the surge in NFT trading was mainstream businesses entering the fray.
Hollywood, sports celebrities and big brands like Coca-Cola, Gucci, Nike, and Adidas, made their dent in the space, providing NFTs with a new level of exclusivity.
>> [ PRO SPORTS gets the NFT treatment! ]
- thanks deloitte!
Deloitte Global predicts that NFTs for sports media will generate more than US$2 billion in transactions in 2022, about double the figure for 2021.
By the end of 2022, we expect that 4–5 million sports fans globally will have purchased or been gifted an NFT sports collectible.
Each NFT is unique in the same way that each limited run of a physical print is individually numbered, yet otherwise identical. In this way, NFTs bring predefined scarcity to digital content.
NFTs effectively address the same needs as cards, but swap still images with digital stills or video, cardboard with pixels, binders with digital displays, collectors’ fairs with online trading platforms, and third-party authentication agencies with blockchain.
>> [ ADIDAS collabs its way into NFTs! ]
- thanks jeremy!
Following the teaser of its collaboration with NFT projects Bored Ape Yacht Club, Pixel Vault’s Punks Comic and crypto investor Gmoney, Adidas has finally announced the release date of "Into the Metaverse", featuring digital and physical products.
The NFTs will be available on sale from 17 December, giving consumers access to virtual wearables for The Sandbox, a blockchain-based gaming world.
NFT buyers will also be able to purchase exclusive merchandise drops including a hoodie featuring a blockchain address, a tracksuit and Gmoney’s iconic orange beanie.
The NFTs will sell for 0.2 ETH, or about $800 through Adidas' website.
>> [ Fast Food jumped on NFTs, well… FAST! ]
- thanks peter!
Brands are jumping on the blockchain-powered format to capitalize on the consumer craze around collectibles, where speculative investors and superfans will pay high prices to secure a unique piece of digital memorabilia that may appreciate in value over time.
Fast food has played a major role in the NFT marketing rush.
White Castle is taking the plunge on NFTs, like many companies, with an extensive collection of digital art celebrating its centennial.
Resurrecting the McRib earlier in the fall, McDonald's gave away a limited collection enshrining the otherwise hard-to-find item as an ownable asset.
Burger King attempted a gamified take on the tactic by releasing packaging with QR codes that accessed NFT pieces when scanned.
>> [ Queen takes Bishop! Nike takes RTFKT! ]
- thanks jason!
Ready to take its next step into the metaverse, Nike announced today it has acquired RTFKT Studios, a digital art studio focusing on sneaker-themed non-fungible tokens (NFTs) and collectibles using the Ethereum blockchain.
“We’re acquiring a very talented team of creators with an authentic and connected brand,” Nike President and CEO John Donahoe said in a press release. “Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and extend Nike’s digital footprint and capabilities.”
This acquisition moves Nike more firmly into blockchain-based branding and the metaverse, a version of the internet that will blend virtual and augmented reality with traditional computing.
THE DOPE IDEA & THE BRAND EXECUTION:
* Taking the idea and amplifying that into tactical action.
See you next week for Part Two in our report.
We’ll discuss on how to position ourselves as a new player in the Brands + Burgers + NFTs 🛍️🍔💥 space — and get into the development of the Brand IP, securing a legit Domain Name, then making it Internet LIVE.