Key points
Some of the most iconic web3 products will be built during financial downturns in crypto.
The internet will continue consolidating into Big Tech, underscoring the importance of web3.
“On-chain” games will rise in popularity.
Concerns about social media giants will heighten, highlighting the need for decentralized social networks.
“Light” clients will accelerate the adoption of mobile web3 frontends.
- Starbucks starts NFT-based loyalty program.
- Tiffany & Co. crafts jewel-encrusted pendants for CryptoPunks NFT owners.
- Budweiser purchases beer.eth ENS name and debuts multiple NFT collections.
- DraftKings opens marketplace focused on mainstream NFT accessibility.
- Reddit mints 5 million collectible avatar NFTs.
- Nike makes NFT platform .Swoosh for digital sneakers.
- Nickelodeon bases NFT collectibles on Rugrats and Hey Arnold! characters.
- TIME introduces NFT initiative TIMEPieces.
- Adidas Originals creates NFT collection Into the Metaverse.
- Porsche launches NFT collection and virtual experiences centered around the iconic Porsche 911.
- Gucci showcases collectible NFTs in art exhibit called The Next 100 Years of Gucci and partners with Yuga Labs’ metaverse project.
- Louis Vuitton lets players collect NFTs in a self-branded mobile game.
Governments will pass bipartisan crypto regulation. How policy and regulation impacts U.S. crypto, our views:
1/ Banning new business models or technologies undermines American values and drives innovation and jobs elsewhere.
2/ Agency guidance or new legislation that establishes appropriate, clear rules will protect consumers and help the web3 industry flourish.
3/ Legal businesses and their customers deserve access to financial services and lawful protections, from banking relationships to data privacy.
4/ Businesses should be the focus of regulation, whereas decentralized, autonomous software should not. See: “Regulate Web3 Apps, Not Protocols.”
