Web3 Provides a Mechanism for Loyalty

In this episode, we dive into some of the best moments of the last year and a half of Future Commerce as it pertains to Web3. Tune in now!

Giving Consumers Control Over Their Identity 

• “Like everything else with new technology, the technology's awesome, but until you find creative people to use it in really interesting ways, it doesn't do a whole lot.” – Michael Janiak
• Mags is someone who is thinking about the future of the startup ecosystem. She’s passionate about why and how people spend their time, money, and attention
• “I don't think I'm a consumer brands investor. I don't think I'm a consumer tech investor. I'm a consumer needs investor..” – Magdalena Kala
• The journey of NFTs is still early. In many ways, they’re very similar to DTC brands as they become easy to launch, and the early movers have made a lot of money
• NFTs signal loyalty. They’re a way to assign value to what it means to be associated with a brand.
• “Hype alone isn’t enough to build an enduring brand or community.”
• There has to be a non-monetary reason that people are engaged in community — for sneakerheads this is the love of the culture and nostalgia that endures well past childhood. Sneakerheads come from many different backgrounds and walks of life. A digital goods community around sneakers may be much more durable than any other PFP (Picture for Proof) project.
• NFT Project creators are doxxing themselves now to increase optionality. There’s a lot more to gain by having a trusted reputation as a person than there is as a cartoon avatar.
• “I think of the community from which sneakers actually emanate. How can I make it so that anybody can be rewarded even for their participation, for their love of and the passion of whatever that community represents?” – Brandon Martinez
• “Everything we're doing online has an offline analog. We're reinventing a lot of our everyday normal commerce experiences, but we're doing it in a digital realm. And this is what Web3 unlocks for us; there's nothing new under the sun.” –Phillip

Associated Links:

• Infinite Shelf Season 1 Episode 8: WEB3 BTC DOA FUD WAGMI: WTF
• Episode 240: “Magdalena Kala: "I'm a Consumer Needs and Wants Investor"
• Episode 262: Building a Web3 Company After the NFT Crash
• Episode 266: There’s Nothing New Under the Sun
• Subscribe to Insiders and Senses to read more of our hot takes!
• Download VISIONS 2022 NOW!
• Listen to our other episodes of Future Commerce
• Check out Decoded, our newest limited series

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