This post includes updates to the Open3 Collective knowledgebase and sent via email to members.
The one takeaway for this week’s update
Summarizing LD’s model:
- Creative cause-based marketing that grabs attention and personalizes the brand;
- Layer on web3 to extend the unique marketing and create experiences to help tie customers to the brand;
- Donate web3 proceeds and offset any carbon increases;
- Future maybe? Use web3 to revenue-share with customers.
How do you sell the commodity of commodities, water, going from startup to over 130 million in annual revenue inside 5 years and 60K retail doors, and layer on web3 to create captive customers?
Creative cause-based marketing that grabs attention and personalizes the brand.
Liquid Death moved into web3 this year with, thus far, a basic collectible and utility token (Murder Head Death Club), but which appears the brand may be leveraging to include owners in revenue-sharing. Even if not, the brand’s marketing that it has extended into the NFTs really fits well and resonates.
Total NFT volume as of this writing is $2.3 million, which includes original minting for probably a few hundred thousand in revenue to the brand, and the rest as trading volume, a portion of the secondary market revenues which the brand donates to its cause marketing to reduce plastic consumption.
Also interesting is that brand buys carbon offsets that equal 110% of the most conservative estimate of its web3 carbon generating activities.
LD is a food brand in a category that may not be able to create meaningful revenue off of web3, but it can certainly use web3 to create experiences for its customer base that help keep customers captive and increase the lifetime value of a customer, which over the long term can reduce marketing costs.
To see all weekly takeaways published to one document, click here.
Key Roadmap Changes/Additions
- none this week
Key Tools Changes/Additions
- Published data on modern commerce and what parts of modern commerce are successful and from it, devised a broad set of outcomes that a consumer would want in a web3 super app. See the tool Web3 Software Concepts Ideas.
- Added a web3 SAAS product idea on gift card NFTs. See the tool Web3 Software Concepts Ideas.
The above are key updates to consider. Go to the web3 market intelligence database to see all.
Calendar Changes/Additions
- none this week
Notable Market Intelligence Updates
- Nike invited a large cohort of people to its .SWOOSH platform. The brand continues to kill it with ideas and capturing attention. The central them they are running with is using the Nike brand and its assets to create a community along with tools that allow creators (which would include not just Nike but platform consumer members) to co-create with each creator and develop not just new products that creators share in revenue, but also experiences around those products. Web2 was brand-end user communication; web3 is creator-to-creator collaboration using a brand’s assets to drive new revenue for all creators and drive new experiences among collaborators. Just fantastic. Discord Link
- A few interesting observations with Starbucks beta testing of it web3 enabled loyalty program: (1) users engage with the program through activities live solving puzzles, taking quizes, watching videos, etc. These are experiences that can create stronger connections with customers. In exchange people earn rewards. (2) But the really interesting thing here is that people can sell the things they have accomplished and rewards earned to others who have not done any of that. It is a secondary market where a loyalty member’s rewards, accomplishment, profile, etc can be sold to someone else. Discord link
- Xtended Identity is a digital fashion brand that sells NFTs of fashion for use digitally, but the interesting piece to this is that people can buy the NFTs and then rent them out. Another innovative application of digital apparel that moves beyond the produce-sell-own to produce-sell-own-resell-rent. Discord link
- Ikea’s research lab has developed a concept to create an evolving NFT behind a piece of furniture, where the NFT grows through acts of care to incentivize people to keep, repair and recycle their belongings. We’ve imagine ways to use NFTs to incent product owners to reuse, recycle and upcycle, but this is the first seen from a company applied to furniture.
The above are key updates to consider. Go to the web3 market intelligence database to see all.
Discord Server Conversations
- none this week
Forward Guidance
- none this week
See all forward guidance published to one document here
