Blockchain marketing news in October 2022

This month, the balance has tipped from news to opinion, signaling a reflective pause in the whirlwind that has been the crypto industry. This introspection perhaps illustrates the deep chill of the 'crypto winter' that has engulfed the sector after a frenetic two years of groundbreaking advancements and volatile market activities.

Nonetheless, the crypto and Web3 landscapes continue to be shaped by major players making substantial moves. Google, in a significant development, has partnered with Coinbase to integrate cryptocurrency payments for its cloud services starting next year, marking a pivotal embrace of crypto by a tech titan.

Meanwhile, Twitter co-founder Jack Dorsey has introduced Bluesky Social, pushing the envelope with a decentralized social media platform designed to give users unprecedented control over their data and interactions.

In a contrasting narrative, Meta faces scrutiny and calls for restraint in its metaverse investments from concerned shareholders, highlighting the precarious balance between visionary projects and financial prudence in times of market skepticism.

Beyond these headlines, the enduring focus of our discourse remains firmly on the potential and expansion of NFTs and broader tokenization applications within Web3.

Top brands, as highlighted in a Coindesk report, are not just surviving but thriving, diving deeper into digital realms with NFT collections and strategic blockchain integrations, signaling robust faith in the future of Web3 despite current adversities.

This month's features from Cointelegraph explore a spectrum of token use cases—from the digitalization of fashion and the reimagining of emails in Web3 to the pivotal role of social tokens in redefining online community engagement. Each story underscores the versatile and transformative potential of token technologies in creating new value exchanges and community dynamics.

Yet, not all that glitters is gold in the Web3 world. A sobering analysis of the post-hype NFT market reveals a significant cooldown, and an incisive critique from Entrepreneur warns of the prevalence of superficial and often deceptive marketing practices in the space. These critiques serve as a barometer of the industry's maturity and the urgent need for a shift towards more sustainable and ethical practices.

As we navigate these complex narratives, articles like those on the challenges facing Web3 marketing offer critical insights into our current position in the technological and economic cycle, preparing us for a phase that might see slower, albeit perhaps more substantive, growth and innovation.

News and Reports

Kim Kardashian pays over $1 million to settle SEC charges linked to a crypto promo on her Instagram

Kim Kardashian settled SEC charges for not disclosing a payment for promoting a crypto asset on Instagram, agreeing to pay $1.26 million and ceasing crypto promotions for three years. This case highlights the need for transparency in celebrity endorsements of investment products.

Google’s partnering with Coinbase to let cloud customers pay in crypto next year

Google will allow payments for its cloud services in select cryptocurrencies through a partnership with Coinbase starting early next year. This initiative includes moving some Coinbase applications to Google Cloud and using Coinbase's tools for transaction processing and crypto trading.

Jack Dorsey unveils decentralized social with algo choice and portable accounts

Jack Dorsey unveiled Bluesky Social, a decentralized social media app underpinned by the AT Protocol, to enhance user control over data and algorithms. Announced as a solution to platform monopolies, it supports account portability and algorithmic choices, allowing greater user autonomy on social interactions.

Features and Interviews

How brands are using digital fashion in real life

Luxury brands are capitalizing on the Metaverse's popularity, selling branded digital items and acquiring virtual real estate. Amidst this, a notable dispute between Hermès and artist Mason Rothchild over the MetaBirkins NFT highlights the challenges and opportunities in digital luxury marketing, pushing brands towards innovative Web3 strategies.

What remains in the NFT market now that the dust has settled?

NFTs surged in popularity in 2021, particularly in art and gaming, introducing ownership and potential profit from in-game assets. Despite a high in trading volume and visibility, NFTs faced a downturn in 2022, with fluctuating values and lower sales, yet continued to integrate into digital and mainstream applications.

Top Brands in Web3, NFTs and the Metaverse

Despite the "crypto winter," major brands from various industries continue to invest in Web3, with companies like Warner Music, Disney, and Starbucks expanding into NFTs and digital realms. Brands are launching NFT collections, purchasing digital land, and integrating blockchain technologies to drive growth in the evolving digital landscape.

Industry Opinions

Most Web3 Marketing is Fake. Here's Why.

Web3 marketing often relies on short-term, manipulative tactics fueled by greed and toxic positivity, leading to unsustainable projects that fade once initial hype wanes. The industry needs ethical, value-driven marketing to create lasting, credible, and healthy communities in the Web3 space.

Social tokens will be the engine of Web3, from fanbases to incentivization

Social tokens are reshaping online communities by supporting the monetization of brand and influencer networks through blockchain technology. Amidst the growth of Web3, these tokens enable democratic interactions and economic activities within communities, fostering a new era of internet democratization and enhancing privacy and self-governance.

This is what your email could look like in Web3

Web3 communications companies are developing blockchain-based messaging platforms that prioritize privacy and security, utilizing wallet addresses for email-like communications without needing traditional contact details. These platforms aim to enhance user engagement and provide protection against phishing, with potential monetization through advertising and subscriptions.

Zuckerberg’s $100B metaverse gamble is ‘super-sized and terrifying’ — Shareholder

A shareholder has publicly urged Meta to reduce its heavy investment in the Metaverse, describing the commitment as "super-sized and terrifying" due to the substantial financial risk and uncertain future. The company's focus has been criticized amid a significant stock price decline over the past 18 months.