“Wheresoever you go, go with all your heart.”― Confucius
Zooming out: Other brands with recent digital-to-physical activations include Gucci’s Material NFTs, rewarding NFT holders with exclusive bags, or Louis Vuitton’s VIA Treasure Trunks.
Funded. Last week, IYK, a NY-based startup focusing on digi-physical experiences with NFTs, raised $17m from a16z crypto. 👀
Punchline: It’s an obvious next step for brands to offer more physical products and experiences to its NFT holders. Nike could even bring the most popular co-created .SWOOSH designs into its global retail stores. Owning a brand’s virtual products might become a top-of-the-funnel gateway drug for next-gen consumers, who spend more time online to create, earn, and hold virtual assets.
Zooming out: Crypto's global chess game:
Punchline: Enhanced regulatory clarity in Europe through the MiCA framework, coupled with ongoing legal battles in the U.S., has tilted the global balance in favour of other jurisdictions. Hubs like Dubai, Singapore, London, and Hong Kong are actively competing to attract crypto startups.
Bullish. Meanwhile, a16z crypto invested over $70m just in September (IYK, Freatic, Bastion, Story Protocol).
Punchline : In a bear market, the game's not over. It's just changing. With both…
