New Web3 technologies, such as non-playable tokens (NFTs) and decentralized autonomous organizations (DAOs), will change the gaming, entertainment, and loyalty industry in a big way. But how strong could the impact of NFTs and WEB3 be on the gaming and entertainment industry? That remains to be seen.
New Business Contacts Confirm the Importance of NFT and WEB3
Nike and Puma recently announced new digital partnerships that show that Web3 continues to evolve. This includes a virtual release of sneakers that are both useful and stylish.
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Experts from the entertainment, rewards, and gaming industries have made a compelling case that their fields are well-suited to help Web3 gain widespread adoption, making it possible for the following billion users to join. Although the cryptocurrency market as a whole is declining, and there are many problems to be solved, the future of Web3 and the decentralized, creator-centric digital world remains positive.
Using Entertainment as a Hidden Tool
People in the entertainment industry have noticed that visual media, such as television and movies, can gradually and easily attract many customers. Chris Jaquemin, head of digital strategy at WME, believes that when this technology becomes part of our daily lives, it may not be a conscious choice but a natural process driven by what it can do.
The Use of Non-playable Tokens
The use of non-playable tokens as membership fees has the potential to make fan groups much more enthusiastic. According to ticketing and loyalty professionals, NFTs have given artists more control over how their tickets are sold and given their fans more reasons to participate. David Marcus, EVP of music at Ticketmaster, says NFT vendors can use token sales to give token users access to exclusive seats, pre-show events, or tickets to an upcoming tour before others.
“Decentralized Ownership” of In-Game Assets
Blockchain-based gaming platforms offer a new idea called “decentralized ownership” of in-game assets. This means that players have complete control over their virtual goods. Gaming industry representatives claim that gamers worldwide spend billions of dollars yearly on in-game goods, even though they don’t own them. Non-gaming tokens (NFTs) make buying, selling, and exchanging in-game goods easier, giving them intrinsic and extrinsic value. Spencer Tucker, chief gaming officer at Yuga Labs, said the goal is to get a return on investment through open utility.
Nike Is Not the Only One Interested in WEB3
Renowned shoe companies have repeatedly partnered with Web2 and Web3 to bring virtual assets to their large audiences. Their synergistic relationships lead to valuable features and carefully crafted digital assets that show how Web3 fits seamlessly into the global brand scene.
Nike recently formed an intelligent partnership to expand its digital reach by pairing its platform.SWOOSH with 240 million Fortnite users. Nike, Epic Games, and Beyond Creative are working together on a future project called Airphoria. Players will be able to connect their virtual goods from Fortnite and.SWOOSH. An Epic Games spokesperson told CoinDesk it’s a big step toward bringing the Nike Air Max brand into the Fortnite world, giving Nike exclusive digital assets, realms, and cross-platform ties to Epic.
In the world of crypto, a cat’s meow means nothing. Puma’s new “GutterMelo MB.03” sneakers are a unique addition to the sneaker business. They combine authentic shoes with non-volatile tokens (NFTs) for good results. Puma, urban fashion company Web3 Gutter Cat Gang, and professional basketball player LaMelo Ball worked together to create the colorful coin.
In Related News
- The famous jerky store has invited its loyal customers to participate in the latest “Metaverse” project with the added prize of a chance to win one of 10,000 unique, non-transferable “GigaJims” tickets.
- Elixir Games, a well-known Web3 game distribution company, recently announced a strategic partnership with GameStop to help build the infrastructure for the new GameStop Player platform.
- The Legend of Zora, a well-known NFT creation tool, has launched its own Layer 2 blockchain network, which has attracted a lot of attention from brands and creatives alike.
- To find new hires, the German spy agency recently released a set of non-playable tokens (NFTs) with a dog theme. Hidden in the collection is a secret string of blockchain symbols.
- Non-fungible Faroe Islands, an independent country, has just released several new stamps that have much in common with non-fungible tokens (NFTs).