The idea of tokenizing real-world assets, such as real estate, commodities, private equity and credit, bonds, and art, has been gaining momentum since 2018. As of 2023, there's a marked increase in interest surrounding tokenized Real World Assets (RWAs), according to Nansen’s research.
In this interview, Alex Nicorici, a marketer in the web3 industry, shares her personal journey of how she got involved in web3. She accidentally joined a tech startup working in the web3 space and was drawn in by the industry's unique and innovative vibe. She decided to stay and explore the opportunities as a marketer in this emerging field.
Dibbs asks Alex about her favorite web3 tools and platforms in three categories: the Metaverse, NFTs (non-fungible tokens), and community management.
NFTs provide an effective channel for brands to improve customer engagement, expand their audience base, and create revenue streams. Despite the cold waves in 2022, these digital collectibles generated over $24.7 billion in sales.
In this interview, Dibbs speaks with Eric Witschen, the CEO of Neustreet, who is an early CryptoPunk holder and has a background in technology on Wall Street. Eric fell into the world of web3 from two angles: his interest in decentralized systems and cryptocurrency due to his background in technology and finance, and his passion for collecting various items in his personal life.
Counterfeiting, often dubbed the "shadow economy," is a multi-billion-dollar industry that poses significant threats to genuine brands worldwide. As of 2020, fashion labels have faced a staggering loss of 26.3 billion euros in revenue due to this issue. But the financial hit is only the tip of the iceberg. The proliferation and distribution of counterfeit goods undermines the perceived quality and integrity of the original brands, causing them to lose customers.
Digital collectibles were initially viewed as speculative bubbles or futuristic concepts that nobody outside the crypto space considered useful. The perception has drastically shifted as digital collectibles, due to their unique utilities, have carved their way into the mainstream.
Non-fungible tokens (NFTs) like BAYC made headlines for becoming a cultural phenomenon. Their utility, however, extends far beyond digital art and collectibles. A particularly innovative application of blockchain-based tokenization is asset-backed NFTs. Asset-backed NFTs represent ownership rights associated with real-world assets like precious metals and agricultural produce on the blockchain.
As the digital revolution became more widespread, businesses started digitizing documents to improve efficiency, reduce costs, enhance security, and promote sustainability. But it also brought new challenges with it. For example, it’s difficult to track ownership history of digital documents and verify their authenticity.
In this interview, Jon Margolis, Head of Business and Corporate Development at The Sandbox, discusses his journey into the web3 space and how he became interested in the concept of the Metaverse. With a background in the entertainment and gaming industries, he gradually shifted his focus to exploring the potential of blockchain and crypto in gaming. Jon sees the value proposition of utility in blockchain technology and believes that gaming is the ideal application for this. He talks about The Sandbox as a decentralized Metaverse, a virtual land-based world where users can buy and own virtual lands to create content and experiences. He emphasizes the importance of quality content and engagement to drive the growth of the Metaverse and highlights the relationship between NFTs (non-fungible tokens) and The Sandbox, where assets and items are represented as NFTs on the blockchain.
Many users complained about mint delays and expressed disappointment at the fact that they couldn’t purchase the NFTs from the secondary marketplace if they didn’t hold ETH.
This goes to show that the hype and novelty of a project aren’t enough to determine its NFT’s success. The NFT claim experience a brand offers also remains a crucial element. So, for an NFT campaign to truly succeed, brands must pay attention to their NFT claim experience.