Market trend analysts see top brands driving adoption of NFTs in 2023, seeking new revenue avenues. His Forrester, an enterprise growth consulting firm, sees NFTs as key touchpoints for brands in the new digital universe.
So Nike, Gucci, Samsung, Nickelodeon, and others should build on their 2022 commitments. This is a move aimed at rebranding, attracting new revenue streams, and establishing itself in the metaverse.
So far, several brands have offered exclusive privileges to their Web3 clients. These privileges include financial incentives and bragging rights. Starbucks provides a great example of this with its NFT-based loyalty program. NFT owners have access to real-world rewards.
Another giant that relies on NFTs to grow its revenue is Nickelodeon. The entertainment giant is betting on attracting older fans to his Recur Forever Inc. NFT platform through his nostalgic Rugrats profile picture.
Nike, Adidas and others have also adopted the metaverse concept and are seeing its potential. They offer futuristic hybrid models to position themselves for the future digital universe. A place where physical goods owners can kit their avatars with the same gear.
The bear market has done little to dampen NFT adoption
The Metaverse has become something of a buzzword in the NFT space, but is not yet fully defined. However, there is a rough idea of what this digital universe will look like once fully conceptualized and built.
As venture capitalist Matthew Ball puts it in his book The Metaverse: Define space as
“A network of large-scale, interoperable, real-time rendered 3D virtual worlds in which a virtually unlimited number of users can access their individual presence and continuity of data such as identities, histories, entitlements, objects, etc. It provides an asynchronous and persistent experience with , communication, and payments.”
A bear market could have hit the NFT space hard. But experts expect him to grow tremendously in 2023. latest The NFT.NYC conference gave us a glimpse of what brands are doing to dominate in this space. Many companies have his Web3 plans for the future.
0 Comments