Blockchain marketing news in November 2022
This month, the landscape of sports marketing within the blockchain sphere has seen significant highs and lows, marked by events from the upcoming FIFA World Cup Qatar 2022 to the tumultuous downfall of FTX.
Visa’s innovative "Masters of Movement" initiative exemplifies how digital art and NFTs are enhancing sports fan experiences, dovetailing with the world's most watched football event to offer unique, interactive engagements.
On the flip side, the spectacular collapse of FTX, after splurging millions on sports marketing, illustrates the volatility and risks inherent in the sector. This leads us to a broader discussion about accountability, as seen in the ongoing legal debates around celebrity endorsements in the crypto space, with notable figures like Tom Brady facing potential liabilities.
This notion of accountability and skepticism extends into the views of tech industry leaders regarding the metaverse. High-profile criticisms from executives like Microsoft's Phil Spencer and Snap's Evan Spiegel have sparked intense discussions about the practical applications and user experience of metaverse environments, contrasting sharply with the often optimistic portrayals of this technology.
However, not all is grim. The blockchain ecosystem continues to evolve positively with significant developments that promise to reshape the industry.
Nike’s launch of the .Swoosh platform on Polygon stands out, marking a strategic deepening of its Web3 engagement through digital fashion. Similarly, Yuga Labs’ acquisition of WENEW and its 10KTF NFT collection emphasizes the growing interest and investment in digital collectibles that resonate with both current trends and traditional branding.
Additionally, the narrative around Web3 gaming and community engagement continues to unfold. Despite criticisms that the gaming industry may not need blockchain, the potential for enhanced gamer experiences through true asset ownership and new forms of player interaction presents untapped opportunities that could redefine engagement in digital spaces.
As we consider the future of platforms like Crypto Twitter post-Elon Musk's acquisition, the integration of blockchain technologies and the potential for decentralization are poised to influence how platforms facilitate user and developer interactions globally. These developments signal a complex but exciting path ahead for blockchain applications in marketing, community building, and beyond.
As we navigate these dynamics, our coverage remains attuned to both the opportunities and challenges that define the blockchain and cryptocurrency landscapes.
News and Reports
Visa unveils football NFT auction on Crypto.com ahead of FIFA World Cup QATAR 2022
Visa has launched "Visa Masters of Movement," merging football, art, and NFTs to enhance the FIFA World Cup Qatar 2022 fan experience. The auction features digital art inspired by legendary goals, with proceeds supporting Street Child United. Fans can also create and mint their own NFTs at the event.
Yuga Labs Acquires Beeple's WENEW and its Flagship NFT Collection, 10KTF
Yuga Labs, the company behind Bored Ape Yacht Club, has acquired Web3 ecosystem WENEW and its NFT collection 10KTF, expanding its influence in the NFT space. WENEW, co-founded by Beeple, collaborates with top brands and offers a digital platform for unique NFT wearables.
Nike Launches .Swoosh Web3 Platform, With Polygon NFTs Due in 2023
Nike is intensifying its Web3 initiatives with the launch of .Swoosh, a platform focusing on NFTs and virtual apparel, enabling customers to co-create and earn royalties. This move leverages Nike's earlier acquisition of RTFKT, marking a deeper foray into digital fashion and interactive consumer experiences.
Features and Interviews
FTX Spent Hundreds of Millions of Dollars on Sports Marketing on Road to Bankruptcy
FTX soared to a $32 billion valuation since its 2019 launch but has now filed for Chapter 11 bankruptcy. Despite hefty investments in sports marketing—including significant deals with major sports leagues and teams—FTX's financial commitments have come under scrutiny as the company crumbles.
Silicon Valley tech CEOs are not big fans of metaverses
Microsoft's Phil Spencer criticized the current metaverse as a "poorly built video game," while Snap's Evan Spiegel likened it to "living inside a computer," expressing dissatisfaction with its basic nature. Both highlighted a preference for more integrated, realistic augmented reality experiences over virtual worlds.
How to Find Your Community in Web3
Community has become a pivotal yet sometimes vague buzzword. Despite skepticism about its usage, the term underscores the enthusiasm and potential of blockchain-driven futures. Web3 not only enhances digital interactions but also facilitates meaningful connections and professional growth through platforms like Twitter and Discord.
Telegram founder wants to build new decentralized tools to combat power abuse
Pavel Durov announced the development of decentralized tools, including noncustodial wallets and exchanges, to mitigate the risks of centralized power in crypto. This initiative builds on the success of Fragment, Telegram's decentralized auction platform, emphasizing a return to blockchain's decentralization roots.
Industry Opinions
What will Crypto Twitter look like post-acquisition? Blockchain executives share their insights
Seven months after Elon Musk's bid, the Twitter deal has closed, igniting speculation on its future. Crypto enthusiasts, including Binance's CEO, propose integrating crypto payments to simplify global transactions, while other tech leaders push for decentralization to improve user and developer engagement.
Are Tom Brady and Larry David Liable for the FTX Disaster?
After FTX's collapse, a class-action lawsuit has implicated celebrity endorsers like Tom Brady for securities violations and fraud, highlighting the risks of such endorsements in volatile sectors like cryptocurrency.
The Gaming Industry Doesn’t Need Web3, but Gamers Might
Months after the NFT hype, Web3 gaming hasn't taken off as predicted. Despite its potential, subpar products for uninterested gamers and inadequate technology have hindered its success. The industry must prioritize gameplay to align with gamer expectations and embrace blockchain technology effectively.