📝 Web3 Field Notes #30 - Sneakers, Golf and Crocodiles
📝 Web3 Field Notes #30 - Sneakers, Golf and Crocodiles
Dior enters Web3 with blockchain-based sneakers. Lacoste expands on Web3 loyalty. Golf and NFTs. Web3 funding is picking up. Bitcoin lightning capacity at all-time high. Start-ups, charts & more.
Hey, it’s Marc. I write about Bitcoin, Web3, and brands. ✌️ Welcome to another issue of my obsessively curated field notes to help you filter out the noise.
⏱️ Reading time: 3 min
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“Blockchain allows us to link activity, creativity and conversation with utility and reward. Something nearly impossible to do with Web2 infrastructure and tech.” ― Benjamin Blamoutier, Lacoste’s VP of global brand
📚 Key Reads
The Search for Crypto-Native Business Models. By Messari. Link
Why Lacoste is betting on blockchain-based loyalty. By Vogue Business. Link
Multiplayer Creation: Unlocking Participatory Media. Link
Blockbrain Crypto Report June 23. Link
App-Specific Rollups: A Trade-Off Between Connectivity and Control. By Alana Levin. Link
🚨 What caught my eyes
✨ Web3 + NFTs
Dior has introduced a line of sneakers that come with digital twins. The B33 sneaker line has an authentication system based on an NFC chip embedded in the right foot's sole. This encrypted key grants access to a personalized and secure online platform, developed in collaboration with the Aura Blockchain Consortium1. Customers are able to verify the authenticity of their shoes, follow the various stages of production, and receive early notifications about future releases. Like several other brands, no mention is made of NFTs or Web3 apart from a reference to the Ethereum blockchain in the product details – an approach which is trending. Provenance is a great use-case for luxury brands. Link
Lacoste expanded its Web3 universe. It now rewards holders of Undw3 (Underwater) NFTs with access to creative sessions, contests, video games and interactive conversations, further entwining Web3 technology within its loyalty strategy. Holders will be able to enter locked Discord channels and attend events where they can participate in discussions with the brand, creative studio and sports ambassadors to provide insights and feedback, as well as co-create Lacoste products. Another very interesting case study. Link
The United States Golf Association (USGA) announced an NFT-based fan engagement experience for the 2023 U.S. Women’s Open in Pebble Beach. The experience uses real championship data, similar to ArtBall for the Australian Open. In my view, these are still experiments for a niche audience. Link
Web3 fundraising is on the rise, with Q2 figures nearly doubling those of Q1. The gaming NFT vertical stands in a class of its own: It raised more than four times as much capital as any other NFT vertical in H1. Fundraising totals for non-Ethereum-ecosystem NFT projects outpaced Ethereum ecosystem NFT projects in Q2 2022 by a margin of $1.8bn. Link
Animoca Brands’ founder Yat Siu was appointed to Hong Kong task force on promoting Web3 development. This is one of many recent headlines indicating that Hong Kong is again opening up to crypto (not China). Link
Credit Suisse collabs with Swiss Football Association on NFT collection to support the women’s national team. It’s noteworthy because it comes from Credit Suisse. Link
🌎 Crypto & Macro
Bitcoin lightning network hits all-time high in bitcoin and US Dollar capacity. The network has grown 42% in bitcoin capacity and 105% in U.S. Dollar capacity over the last 12 months. The Lightning Network is a secondary network that sits on top of the bitcoin blockchain. It is a network of payment channels that allows for near-instant, low-cost bitcoin transactions. Link
The Bank for International Settlements (BIS) released an interim report on CBDCs using DeFi-inspired automated market makers (AMMs)2. BIS has been critical of cryptocurrencies in the past. Link
🧠 AI
Inflection AI, a Silicon Valley-based AI studio, announced a $1.3bn (!) funding round led by Microsoft, Reid Hoffman, Bill Gates, Eric Schmidt, and new investor, NVIDIA. Link
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🚀 Interesting Start-Ups
Metalabel: A release club where groups of people who share the same interest drop and support work together.
Blackbird: Blockchain-based loyalty for restaurants.
That’s all for now, folks.
Thank you for being part of the journey.
Back to building! 🚀
– Marc
📈 Top charts to share with friend
🎨 Artwork: “Playing With Fire”, by Botto
Aura Blockchain Consortium is a non-profit association based in Switzerland with the purpose to promote socially responsible, sustainable, and customer-centric business practices throughout the lifecycle of luxury products by leveraging blockchain and other technologies. It was created in April 2021 by LVMH, Prada Group and Cartier, part of Richemont.
Automated market makers (AMMs) are part of the decentralized finance (DeFi) ecosystem. They allow digital assets to be traded in a permissionless and automatic way by using liquidity pools rather than a traditional market of buyers and sellers.