Blockchain marketing news in September 2022
This month's news was saturated with developments in the NFT space, pretty much overshadowing all other themes. From high-profile legal settlements to initiatives from some of the world’s biggest brands, the predominance of NFT-related stories shows how this narrative continues to dominate the minds of blockchain marketers.
Highlighting this trend, Quentin Tarantino's settlement with Miramax over "Pulp Fiction" NFTs exemplifies the intersection of traditional media and blockchain technology. Similarly, the Doodles NFT project's successful fundraising round showcases the growing investor confidence in NFT-based platforms and their potential to reshape art and culture.
Reddit has seen significant activity around its NFT avatars, with sales soaring on secondary markets like OpenSea, reflecting a robust engagement from the platform's community. Sony Music's recent move to file a trademark application for NFT-authenticated music points to a broader adoption of blockchain technology across the entertainment industry.
NFTs’ impact has extended beyond product launches and market dynamics into staffing and strategy. Disney's latest job posting seeking legal counsel to navigate the complexities of NFTs and crypto regulations reveals a commitment to integrating Web3 technologies.
This move contrasts sharply with Snap's decision to disband its Web3 team amid broader layoffs, highlighting the challenges and volatility that still pervade. Outside of these NFT developments, a monumental shift occurred in the broader crypto ecosystem that can’t go unmentioned.
This occurred with the successful completion of Ethereum's Merge, which transitioned the world’s leading smart contract platform from a Proof-of-Work to a Proof-of-Stake consensus mechanism.
This major development occurred without issues, even in the face of much negativity from the naysayers, marking a new era for Ethereum and setting a precedent for sustainability and scalability in blockchain.
News and Reports
Crypto Influencer Cooper Turley Creates $10M ‘Coop Records’ Music Startup Fund
Crypto influencer and NFT investor and song collector Cooper Turleylaunched a $10Mill “Coop Records’” music fund to support and invest in music artists and startup founders who are using Web3 technologies. This fund will have a triple role in Web3: as a business incubator, venture capital firm and record label.
Quentin Tarantino settles Miramax lawsuit over Pulp Fiction NFTs
Hollywood director Quentin Tarantino and film studio Miramax have settled their months-long lawsuit over NFTs based on “uncut screenplay scenes” from blockbuster movie Pulp Fiction. In a joint statement they declared that they will collaborate on the future movie and NFT projects.
Doodles NFT Project Raises $54M At $704M Valuation
Nft project Doodles has raised $54 million in the funding round led by the Reddit co-founder Alexis Ohanian’s venture firm Seven Seven Six. This funding will be used for different job positions in the sector of finance, marketing and business affairs.
The Ethereum Merge Is Done, Opening a New Era for the Second-Biggest Blockchain
On Sept. 15., second biggest cryptocurrency Ethereum switched from a proof-of-work system to proof-of-stake in a historic update called “the Merge”. This marks a new are for ETH network, with 99,9% more energy-efficient system, scalable and more secured cryptocurrency exchanges, lending companies, non-fungible token (NFT) marketplaces and other apps.
Blockchain infrastructure firm Chain will sponsor New England Patriots football team
Although crypto marketing investments into sports sponsorships have been significantly decreased in the 2022 bear market, blockchain and Web3 infrastructure firm Chain decided to partner with a New England Patriots football team in a multi-year deal. One of Chain's main responsibilities will be to develop Web3 experiences for Patriot fans.
Reddit NFT avatars selling for a premium on OpenSea
Sales of Reddit’s limited edition NFT avatars are rising on the secondary marketplace OpenSea and significantly outperforming the platform’s proprietary store. The most popular NFT collections are The Senses x Reddit Collectible Avatars and Foustlings x Reddit Collectible Avatars.
Walmart Dives Into Metaverse With Launches in Roblox
Multinational retail corporation Walmart (WMT) has created two new experiences in the metaverse gaming platform Roblox. One called Walmart Land will include a virtual merchandise store, while the other - Walmart’s Universe of Play, will contain various toy worlds and games.
Features and Interviews
Disney’s Latest Job Posting Hints at Big Plans for NFT and Crypto Adoption
The Walt Disney Company is looking to hire a legal counsel to guide its further Web3 strategy by navigating the crypto, NFT and DeFi regulations. CEO Bob Chapek announced that Web3 ambitions is to be "less of a passive type experience where you just have playback" and "more of an interactive lean forward, actively engaged type of experience."
Ethereum co-founder Vitalik Buterin defends DAOs against critics
In the lengthy post on his website, Ethereum co-founder Vitalik Buterin outlined his belief that collective owned decentralised autonomous organisations (DAOs) can minimise the problem of collusion and corruption in the traditional corporate governance structures.
Sony Music files trademark application for NFT-authenticated music
Sony Music Entertainment signals future plans to leverage NFT by filing a trademark application for NFT-authentication of video recordings, text, artwork, audio and live recording. The application will also be used for marketing and PR services, distribution, advertising and online entertaining.
Social Media Giant Snap Disbands Web3 Team Amid Mass Layoffs
The company that owns Snapchat, Snap (SNAP) is laying off 20% of its workforce in an effort to scale back unprofitable investments. Departments that are completely shutting down are: Web3 and augmented reality (AR) Spectacles team. It is still unclear if the company will continue with it’s NFT efforts.
Influential celebrities who joined the crypto club over the past year
This Cointelegraph article summarises who are some of the most influential celebrities who joined crypto and NFT over the past year, despite the extended bear market. Check out what Connor McGregor, Eminem, Snoop Dogg, Maria Sharapova, Matt Damon and many more invested in 2021 and if they are prepared for the next bull run.