Web3 Provides a Mechanism for Loyalty

In this episode, we dive into some of the best moments of the last year and a half of Future Commerce as it pertains to Web3. Tune in now!Giving Consumers Control Over Their Identity “Like everything else with new technology, the technology's awesome, but until you find creative people to use it in really interesting ways, it doesn't do a whole lot.” – Michael JaniakMags is someone who is thinking about the future of the startup ecosystem. She’s passionate about why and how people spend their time, money, and attention“I don't think I'm a consumer brands investor. I don't think I'm a consumer tech investor. I'm a consumer needs investor..” – Magdalena KalaThe journey of NFTs is still early. In many ways, they’re very similar to DTC brands as they become easy to launch, and the early movers have made a lot of moneyNFTs signal loyalty. They’re a way to assign value to what it means to be associated with a brand.“Hype alone isn’t enough to build an enduring brand or community.”There has to be a non-monetary reason that people are engaged in community — for sneakerheads this is the love of the culture and nostalgia that endures well past childhood. Sneakerheads come from many different backgrounds and walks of life. A digital goods community around sneakers may be much more durable than any other PFP (Picture for Proof) project.NFT Project creators are doxxing themselves now to increase optionality. There’s a lot more to gain by having a trusted reputation as a person than there is as a cartoon avatar.“I think of the community from which sneakers actually emanate. How can I make it so that anybody can be rewarded even for their participation, for their love of and the passion of whatever that community represents?” – Brandon Martinez“Everything we're doing online has an offline analog. We're reinventing a lot of our everyday normal commerce experiences, but we're doing it in a digital realm. And this is what Web3 unlocks for us; there's nothing new under the sun.” –PhillipAssociated Links:Infinite Shelf Season 1 Episode 8: WEB3 BTC DOA FUD WAGMI: WTFEpisode 240: “Magdalena Kala: "I'm a Consumer Needs and Wants Investor"Episode 262: Building a Web3 Company After the NFT CrashEpisode 266: There’s Nothing New Under the SunSubscribe to Insiders and Senses to read more of our hot takes!Download VISIONS 2022 NOW!Listen to our other episodes of Future CommerceCheck out Decoded, our newest limited seriesHave any questions or comments about the show? Let us know on Futurecommerce.com, or reach out to us on Twitter, Facebook, Instagram, or LinkedIn. We love hearing from our listeners! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.