☕️ 12 big brands going Web3 in 2024...

Welcome back to Web3 Creator!

In Today’s issue we’ll discuss the 12 big Web2 brands foraying into Web3 in 2024.

~1300 words, a 5 minute read. 

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Let’s get into the headlines:

• 12 big brands going Web3 in 2024

• Quick news & updates 🗺️

• Charted insights

12 big brands going Web3 in 2024

A recent study by Coinbase found that over 80% of Fortune 500 companies are pursuing web3 initiatives.

Loyalty programs are a common and great example below on how NFTs can benefit both brands and buyers, giving businesses more options for monetization, whilst offering real-world value to their consumers.

Here are 12 well-known names finding new ways to reach consumers from web2 to web3, let’s break down their updates and strategies:

1. Nike

• Nike started its foray into Web3 by purchasing the virtual sneaker company RTFKT tapping into the collectibles market.  Further, collaborated with artist Takashi Murakami to release NFT versions of their iconic Air Force 1 shoes.

• Then they released their own NFT marketplace: .SWOOSH after the brand’s universal logo. Allowing members to learn about and collect virtual creations, with plans to introduce co-creation tools.

• The Swoosh has raked in almost $185 million in NFT sales revenue.

2. Meta

• Meta (formerly Facebook) is a major backer of the metaverse, creating interconnected virtual worlds for socializing, entertainment, and commerce through platforms like Horizon Worlds and Quest VR headsets.

• Apart from this, their first venture started in 2014, when they acquired Oculus VR.

• They've also launched Horizon Workrooms, a VR meeting platform allowing remote teams to collaborate in a shared virtual space

3. Microsoft

• Microsoft has partnered with Aptos Labs to merge AI and Web3 technologies, training AI models using blockchain-verified data and running Aptos validator nodes on Azure.

• They’re planning to integrate a crypto wallet into the Xbox gaming system, allowing developers and gamers to monetize in-game assets as ownable NFTs.

4. Spotify

• The music streaming giant launched "token-enabled playlists" feature, granting exclusive playlist access to holders of specific NFTs from partner communities like Overlord and Moonbirds.

• Additionally,  Spotify is testing NFT galleries on artist profiles, allowing fans to purchase NFTs directly from OpenSea - notable success with Steve Aoki earning ~$3M from 2 NFT mints.

5. Starbucks

• Starbucks' Web3 loyalty program generated  $1,040,000 in its first year. It’s called Starbucks Odyssey: The initiative is a web3 supplement to the company’s existing loyalty program.

• The loyalty program rewarded 42,000+ with an NFT, called the “journey stamp”. As members collect stamps, they gain access to a number of unique benefits and experiences, spanning from virtual classes to invitations to exclusive events at Starbucks Reserve Roasteries.

6. Visa

• The world’s leading credit payment company Visa is offering a Web3 loyalty program to businesses that use Visa’s rewards program.

• Brands will now be able to reward customers with tokens and digital collectibles for purchases and social media engagement.

• Visa partnered with South African exchange Valr to extend their reach outside the African market and expand stablecoin settlement onto the Solana blockchain, enabling quicker cross-border transactions.

7. Epic Games

• In 2024, the Epic Games Store currently has 127 blockchain games listed on the platform.

• These titles include ambitious play-to-earn titles like Illuvium and Avalon, the former of which is very successful, showing that blockchain games have a place to stay on the platform.

8. Coca-Cola

• Coca-Cola is venturing into web3, by utilizing blockchain technology to help promote supply chain diligence around working conditions.

• A 2021 UNICEF report suggested that there could be up to 152 million children currently in forced labour. This is an abhorrent reality that could be tackled through the use of blockchain.

• To that end, startup Diginex has collaborated with the Coca-Cola Company and Reckitt to create an ESG (Environmental, Social, and Governance) supply chain traceability tool: DiginexLUMEN.

9. Lufthansa

• The global airline operator is using NFTs in their new loyalty program, “Uptrip”on Polygon. The program will marry its NFTs with tangible rewards for loyal customers of any of the airlines under Lufthansa Group, such as Austrian Airlines or Brussels Airlines.

• When collections of these cards are completed, the holder is granted access to exclusive airport lounges and redeemable airline miles, as well as complimentary on-flight WiFi.

10. Lacoste

• The French fashion brand has its own loyalty program based on Web3. UNDW3 cards grant users access to a token-gated community platform offering each user a personalised experience.

• The UNDW3 card itself is a dynamic NFT, meaning that the asset itself can change and evolve over time.

• Users can earn points on the platform by participating in creative contests and games such as fashion challenges utilizing mixed reality. The points are then translated into an increase in the rarity of their dynamic NFT, which increases the assets’ monetary value.

11. Tiffany’s

• Tiffany’s collaborated with Chain, a web3 bridging for businesses company, to launch their very own NFT collection called the “NFTiff”.

• NFTiffs sold out in 20 minutes from a mint price of 30 ETH, generating a whopping $12.5 million in revenue for Tiffany’s. 

12. Christian Dior

• Luxury fashion retailer Christian Dior unveiled their first web3 initiative: the Dior B33 sneaker. The sneaker is accompanied by its own NFT, serving as a digital certificate of authenticity, which can be accessed through an NFC chip within the shoe.

• Customers simply tap their smartphones on their shoes to see exclusive content and access various services.

Quick news & updates from the decentralized world

• Mt. Gox transfers 140,000 BTC, with $9B triggering Bitcoin price drop. [Link]

• Semler Scientific adopts Bitcoin as a primary reserve, buys $40M In BTC. [Link]

• Spot bitcoin ETFs see 11 straight days of net inflows as BlackRock’s IBIT claims top spot. [Link]

• Spot Ether ETFs are now officially legal in the US.  [Link]

• Cristiano Ronaldo unveils NFT series with Binance capturing career highlights. [Link]

• Grayscale’s Ethereum ETF could bleed $110M daily in the first month: Kaiko. [Link]

• Ryan Salame, the former co-CEO of FTX Digital Markets, was slapped with a 7.5-year prison sentence. [Link]

• US judge orders SEC to pay $1.8 million in legal fees in Debt Box case. [Link]

📈📈Charted insights: U.S. spot Bitcoin ETF holdings

According to inflows tracked by sources including crypto reviews portal Apollo, at the close of Wall Street trading, IBIT had accrued 288,670 BTC versus GBTC’s 287,450 BTC.

IBIT becomes the world's biggest Bitcoin ETF!

The Bitcoin ETF battle saw a symbolic milestone on May 28 as BlackRock’s IBIT beat the Grayscale Bitcoin Trust (GBTC) in BTC holdings for the first time.

✍️ Editor’s Note: Ether ETH $3,771  may surprise crypto markets to hit fresh all-time highs before Bitcoin  BTC $67,615 reenters price discovery.

👀Next Issue Preview: We’ll discuss the right culture that Web2 brands need to adopt when charting into Web3. 

That’s it for today! See you next week for more B2B crypto insights for your business.

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