📝 Field Notes #59: Back to Reality

Hilton goes beyond Roblox. Multiplayer Web3. NFL's Golden Knights launch NFTs. Forbes launches Web3 community. Absolute Labs X Google. Coinbase vs. SEC. Mysten Labs X Alibaba. Top charts & more.

Jan 26, 2024

Hey, it’s Marc. Welcome to our weekly, obsessively curated field notes on Web3 & crypto to help you filter out the noise. ✌️ Follow me on LinkedIn.

⏱️ Reading time: 3 min

Be inspired✨

“Our digital lives will become our platforms, and we will rightfully own those platforms and their connected (economic) benefits through Web3.” — Yat Siu

📚 Top 4 Reads

How brands make culture. By Ana Andjelic. Link
Web3 is changing the game for consumer brands. With Marc Baumann. Link (Pod)
A brief history of crypto. By Polynya. Link
Blending traditional marketing with Web3. With Markus Hutchins. Link (Pod)
Crypto market sizing 2024. By Crypto.com. Link

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✨ Web3 + NFTs

“Multiplayer Web3”🥽

A series of brands are meeting customers where they are: online, offline, and on-chain:

Hilton, together with 11:11 (Paris Hilton’s agency) launched a Roblox experience where players can earn real-world travel rewards. Link
Just recently, Walmart and Unity teamed up to bring immersive commerce for physical goods to games. Link
Vegas Golden Knights partnered up with Theta Labs for an NFT loyalty experience, claimable for fans attending the games in the stadium. Link

Zoom out: Brands are meeting digitally native consumers where they’re already spending the most time, combining digital and physical distribution.

Lacoste’s virtual store gives UNDW31 NFT holders exclusive access to a VIP space with limited collections.
The NBA is launching a virtual courtside experience using Meta Quest.

By the numbers: AR is growing into a game-changing field for retail.

71% of consumers would shop more often if it involved AR.
Retailers using AR have seen increases in conversions by up to 40%.

Back to reality: Whether fully virtual or AR, tying it back to IRL experiences is where the magic happens.

Punchline: Crypto, Web3 and immersive commerce are converging. Winners will be those can maser all three.

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🌎 Crypto & Macro

The final battle?

Coinbase and the SEC went head-to-head in court. The crypto exchange pushed for the regulator's lawsuit to be thrown out. Link

Zoom in: While Coinbase compared buying crypto to collecting Beanie Babies, the SEC labeled them investment securities.

Yes, but: The judge is mindful that her decision doesn’t extend SEC's reach to other collectibles, such as baseball cards or Nike shoes.

Be smart: Bloomberg analyst estimates a 70% chance of Coinbase winning the case.

What’s next: The judge's decision is due in the coming months, potentially leading to a trial next year.

Why it matters: This case could shape SEC's role in overseeing the crypto market, including giants like Coinbase.

🏗️ Start-ups to watch

Kazm: A no-code solution for gamified consumer/fan engagement and unified, Web2 + Web3-enabled loyalty programs.* Link

*Kazm is a partner of Dematerialzd.

💰 Money Moves

Friends with Benefits: Announced a $3M seed round on the back of a16z Crypto.
Safary: The Web3 alternative to Google Analytics, closed a $2.4M pre-seed round.
Dinari: RWA tokenization start-up announced a $10M seed round.
Masa: Decentralized data marketplace, closed a $5.4M seed round.
Paper Ventures: Blockchain VC fund launches with $25M fund to invest in early stage Web3 + blockchain startups.