We all know that "Web3 is all about community". But what does that look like?
In 2021 and 2022, The Web3 space looked at utility and community loyalty, with NFTs and Tokens being the asset that quantified that asset.
In today's newsletter, we're looking at what that might look like in 2023 and beyond, with two new Atlas pieces which look at the next generation of community-building.
If you're interested in how projects and brands can use new methods of community to grow, this is a must-read👇
📈📉 The Blockchain Buzz: Weekly Market Report with Miki Mak
🗽 Outlier is coming to New York City! Come meet us IRL!
🌐👨🏽🤝👨🏼 Portfolio News: Learn More About our Massive Strides
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The Future of Customer Acquisition and Community Monetization, by our NFT Team's Thomas Issa
The evolution of customer acquisition to a more sustainable "Community as a Service" (CaaS) model.
TL;DR:
2021 and 2022 marked a time when startups could combine a fundraising announcement with a subsequent NFT or token drop to capture and retain early users.
To combat many consumer acquisition shortcomings, crypto companies and funds alike rushed to ensure they were actively investing in the best “loyalty” products.
These platforms have served as temporary fixes and marketing crutches, having a negligent effect on a protocol or project’s chances of long-term growth and sustained customer acquisition.
Now, it’s no question that we are hurtling toward a future where everything is tokenized. Network participants are inherently greedy and obsessed with financialization, a dynamic catalyzed by blockchain technology
Without systems facilitating the creation of value and its equitable distribution among all value contributors, we’ve failed to maximize Web3's underpinning premise.
With the advancement of Web 3 attribution, it will become possible to extract information about the products and brands that users purchase and endorse, the locations they have visited, the blogs they have read, and even the sports teams they support.
The CaaS monetization model is a first step in building on the community-enabling NFT infrastructure that has proliferated the space.
🎧 How Brands Can Harness Social Commerce and Take Back Control from Social Media
In today's episode of The Metaverse Podcast, we host Roy Bernheim of Decommerce, a company with a mission to transform your community into a profitable force by humanizing your brand.
Join our host and CEO, Jamie Burke, as he delves deep with Roy in a discussion exploring the future of social commerce. Whether you're a fashion brand founder, a metaverse builder, or a web3 enthusiast, be sure to tune in to:
Find out how social media platforms now control fashion brand communication with customers, diminishing direct engagement.
Understand why fashion brands cannot reliably reach their own followers without constant paid promotion on socials.
Discover how Decommerce's solution lets fashion brands add social features to their owned sites so customers engage directly with the brand community.
Learn about their impressive metrics, the solution tripling repeat purchases, giving 50x reach, doubling site time, and preventing wasted production by engaging brand communities.
Get insights into how Web2 and Web3 will coexist, the same way social media disrupted, but didn't replace websites, by taking some of their market share.
Private market continues to be quiet with 4 deals announced over the past week
Notable raises:
HashPort (Tokyo blockchain solutions developer): $8.5m series C back by Sumitomo Mitsui Trust Bank
Solv protocol (The pioneer of financial NFTs): $6m strategic, back by Laser Digital, UOB Ventures, Mirana Ventures
Trending news
Coinbase sets public launch of ‘Base’ Layer 2 Blockchain for next week
Curve was exploited due to a vulnerability in the Vyper programming language, resulting in ~$60m being stolen. This exploit has raised concerns about the collateralized loans taken out by Curve founder Michael Egorov, who has borrowed over $100M against approximately 460M CRV tokens
Hong Kong officially opens crypto trading to retail investors, grants first licenses to HashKey and OSL
Worldcoin says will allow companies and governments to use its ID system
🗽 Outlier is coming to New York City!
Together with our partners Synergis Capital and Store No. 8, we're hosting a Web3 consumer happy hour to meet the best builders working on the future of consumer applications
Crucible launches Unity SDK for building interoperable avatars. The first step in realizing identity in a truly Open Metaverse
Congrats to Cheqd for the hugely successful launch of their latest product Creds! A real world use of Verifiable Credentials to build reputation in one community and take it with you to the next.
Kima Finance, one of our top tier DeFi protocols, has been featured on Entrepreneur. Read more here!
