Many companies know that Web3 is here to stay, however it is not yet clear which ecosystems will dominate the industry, but technology is a one-way street, so the sooner brands start advertising within this ecosystem, the sooner they will be recognized by the public, especially early adopters.
In this guide we have collected the main actions that a company, large or small, can take to start gaining exposure within the Web3 environment, framed in the metaverse, nfts, tokens, etc…
Actions that brands can carry out on the Web3
Creation and commercialization of NFT collections
Many companies believe that it is very expensive to advertise in the web ecosystem3, but launching a collection of NFTs is really easy. Given Meta’s (Facebook) recent announcement to adopt Polygon’s network to display NFTs within users’ Instagram social network profile, our recommendation is to use Matic’s network to create the collection.
The question that many brands or companies ask themselves is… What kind of collection should be created and, above all, what use can be given to it? This will depend on the company, brand or service that launches the collection, that is why we are going to give you some examples.
This NFT platform has been launched by Gary Vaynerchuk, the influential entrepreneur and speaker in the advertising world. When users purchase one of your NFTs they have access to lectures given by the speaker. In addition, depending on the NFT you have, you will have a different level of access. The most sought after having access to personalized chats with the influencer.
Well, in this case, a proprietary marketplace was developed to commercialize the NFTs, however, it is not necessary to reach this point. Creating a collection and giving access to it to certain influencers so that they can make the call effect of other brand lovers who want to acquire the benefits and privileges that being part of the community gives access to, is fast, simple and effective.
These NFTs can be traded on any Polygon marketplace, Air NFTs, Open Sea,
If you have doubts about how to upload NFTs in the marketplace, it is very simple:
- Go to one of the websites, which we have specified for you, e.g.
https://www.airnfts.com/
and connect your wallet - Load your file, click on the drop-down menu and select Polygon.
- Complete the title, description and other details.
- Click on Approve.
And that’s it! Your NFT is now available in the specified marketplace and on the Polygon network.
If you want to know how the process works in Open Sea, we have developed the following guide. How to create and sell NFTs in Open Sea.
Once you have the NFTs available and on sale in the different points of sale, it is time to give them the utility you consider within your community. This will depend on your brand, product or service.
Here are some other examples that have caught our attention:
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Chainsmokers
He will give 1% of his royalty income from his new album. Pop music duo Chainsmokers plan to release non-fungible tokens that will give their fans a share of royalties from their new album, “So Far So Good.” The 5,000 NFT will be given free of charge to a VIP list made up of frequent ticket buyers of his concerts and other superfans.
https://decrypt.co/100168/chainsmokers-new-album-nft
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Budweiser
The beer brand partners with DWYANE WADE for the launch of its non-alcoholic brand. To promote its “Zero” non-alcoholic beer, Budweiser is launching an NFT collection in partnership with former NBA player Dwyane Wade. The series is called “Budverse Legends,” a nod to its commitment to the “Budverse” metaverse.
The NFTs will be sold in three variations for $180 each from May 24-26, and only after that will Budweiser reveal which variation the buyer purchased. Each variation comes with a virtual Wade T-shirt available in Decentraland, suggesting that Budweiser may be activating the metaverse platform. In addition, Hero-level NFT purchasers will receive a limited edition Budweiser can with a Wade design (also signed by Wade), and the one-time Legendary-level NFT purchaser will receive a real-life experience. with Wade.
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Asics
Asics partners with the MOVE-TO-EARN platform for a collection of NFTs. Asics launched a collection of NFTs called “MYSTERY BOX” of NFTs with StepN, a Web3 running platform that rewards users with cryptocurrencies when they run or go for a workout. There are four types of shoes, each suitable for a different exercise intensity and fitness level, making up a total of 2494 NFT. The collection is hosted on Binance’s BNB blockchain and sold on Binance’s marketplace. More than $18 million has been traded in respect of the collection, and the minimum price is $9,039 according to Binance at the time of this writing.
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Lamborghini
It is releasing a single NFT that will be auctioned along with the latest Lamborghini Aventador LP 780-4 Ultimate Coupe.
The artwork will be set on Mars and designed by artist Krista Kim, while DJ Steve Aoki will create a custom piece that will be featured as part of the asset. The NFT buyer will receive special benefits, including virtual previews of upcoming limited edition models, a private tour of the brand’s museum in Italy and a virtual meeting with Aoki and Kim.
Issuance of own tokens
This process is more complex, as issuing your own tokens requires that you understand at a technological level how to issue the cryptocurrency and make it available to your customers, and also requires that you understand the tokenomics of the cryptocurrency and provide it with some utility. Here is what you need to consider when issuing your own token:
Process to issue your own token:
- Use to be given
- Network to be used
- Token offer:
- Total supply
- Circulating supply
- Maximum supply
- Liquidity pool
- Token burning
- Monetary policy
- Token distribution or tokenomics: distribution to the public, own, authors, etc…
- Token promotion
Here is a post where we explain how to issue and create your own cryptocurrency.
Also, for legal purposes, it is very important that it is very clear that you are issuing a utility token and not a security token, as the legal implications would otherwise be much more complex. Tokens cannot imply having the right or ownership of the company, which must be governed according to the company’s management system, such as a board of partners. Tokens cannot replace the governance system of the company.
The example we have of companies or brands that have issued their own tokens are the soccer clubs through the so-called Fan Tokens.
We leave here a video and an entry for you to consult the information.
Some examples are FC Barcelona, ATM, or PSG. Here is a detail of the information related to the Fan Tokens:
Buying or renting plots in the metaverse
This would be the option with a medium implementation cost compared to the two previous ones. In this sense, the steps to follow are as follows:
- Definition of the metaverse to be implemented. There are two clear choices here, Decentraland and The Sandbox.
- Buy or rent the virtual plot
- Design the virtual space where potential buyers will be able to interact with the brand.
- To think of an immersive experience within the virtual space beyond the creation of the space itself. In this sense, Mango and other clothing brands during the Metaverse Fashion Week, enabled the possibility of buying clothes inside the Metaverse.
Some examples of brands that are enhancing immersive actions within the metaverse:
Christie’s
Christie’s has been building a multi-purpose virtual version of its five-story London headquarters in Decentraland. What is special about this is that Decentraland is the leading decentralized metaverse and has therefore reaffirmed the brand’s commitment to Web3. Christie’s virtual venue is located in the Voltaire Art District in Decentraland, a neighborhood that is populated by art exhibits. Not surprisingly, the venue is meant to be a showcase and sales venue for digital art (NFT), but it also functions as a virtual meeting place.
Sansung
Samsung entered the metaverse with the Samsung 837X experience: a digital version of its New York store, created to showcase products and other offerings. The company calls it “an experiential playground” intended to explore Samsung’s technology. The important thing here is that Samsung has not just created a virtual version of a sales floor or marketplace, but an experience. Your metaverse project is an interesting combination of entertainment, storytelling, branding and sales enablement.
Other companies such as Adidas have announced their partnership with The Sadbox, however as of today there is no established virtual experience within the plot beyond a tweet.
Given the level of maturity of Decentraland, we consider it to be the project with the greatest advantage, in addition to having the largest number of active users to date.
Other metaverses
When we talk about metaverses, it is important to look at the number of active users, as this will be the metric that will ultimately determine the impact of our actions for the users of the platform in question. That is why we have developed the following table where we see that video game platforms still have a much higher number of active users than platforms such as Decentraland. That said, as these platforms evolve and become more sophisticated, users will find them more attractive, and therefore brands will be more inventive in advertising on them.
