Nouns, Prada and Sorare
In this edition of our newsletter, we continue our quest into the ongoing debate about the future of Web3. Will it be the next big thing or simply fade away like a passing trend? To gain a better understanding, and per usual, we will be showcasing three compelling use cases in the realm of tokens, NFTs, blockchain, and their related fields.
We understand that with every new technology comes uncertainty, so we will also address common concerns and doubts about the rapid advancement of these technologies. From highlighting the innovation of startups to the entry of big brands to the integration in sports and entertainment, we have got it all covered. And to end on a fun note, we will have a weekly fun fact to keep you informed and entertained.
Here are our picks for this edition:
Startup NFT Innovation: Nouns - The Comic Book Revolution
Brands are Innovators: Prada's Ninth Time Capsule NFT Collection
Sports & NFTs: Sorare Brings NFTs to Premier League Fantasy Football
This Week in Startup NFT Innovation
Nouns: The Comic Book Revolution/ Unleashing the Power of NFT Storytelling
Nouns is a new comic book series using Ethereum NFTs to create what they call an "unconstrained anarchy" for its users. The series is based in a post-apocalyptic world, where the characters are able to explore and express themselves without boundaries. The NFTs are designed to bring the world of Nouns to life, allowing readers to collect, trade, and explore the characters and stories. The NFTs are also used to power a new game called "Fury", in which players can battle each other using characters from the comic.
Why Do We Like It: It is not just anarchy; it’s unconstrained! Exactly what Web3 is all about in removing the gatekeepers and letting users roam free and touch -- not just consume -- content. And that is what NFT-fueled engagement is all about -- letting fans loose to be creative with and around your content as lego blocks. As Tim Ferriss did with Cockpunch, Nouns is transforming its fans from passive consumers/listeners to active participants and creators utilizing the NFT-based characters in their own right.
Find the NFTs on OpenSea and the comic book series on the Nouns website.
Brands are Innovators:
Prada's Ninth Time Capsule NFT Collection
Luxury brand Prada continues to bring luxury to NFTs with another exclusive drop as part of its 9th exclusive Timecapsule NFT collection. This limited-edition drop featured colorful patterns and one NFT representing each physical item purchased (this collection's item is a printed shirt by photographer Enzo Ragazzini’s ‘70s archive), adding to its rarity and appeal to collectors. These digital assets also serve as an entry pass to the exclusive Prada Crypted NFT community. There, users can enjoy exclusive digital and real-life experiences.
Prada is known for its Timecapsule monthly online event, which launches for 24 hours (or as long as supply lasts) on the first Thursday of every month on prada.com.
Why We Like It: There is a growing trend of luxury brands utilizing digital assets. We chose Prada specifically due to its innovative approach linking physical products with NFTs to engage and attract a new audience while also attracting premium revenue (we do believe in making money!). It is NFTs as a consumable AND an entry ticket.
Find the NFT time capsules on OpenSea and look out for their next drop at Prada.com
Sports & NFTs:
Sorare Brings NFTs to Premier League Fantasy Football ("soccer" for us Americans)
This is not the first time Sorare has gotten a shout-out, as we saw its potential in our first musings on NFTs in early 2021 (see blog here) as one of the early projects transforming the sports economy using NFTs.
With 3 million users worldwide and partnerships with Spain’s LaLiga, Germany’s Bundesliga, and Italy’s Serie A, Sorare has now teamed up with the Premier League to bring NFTs to the world of fantasy football. With this new partnership with the Premier League, Sorare users will find all 20 clubs on the platform, including league-specific competitions, and players will be able to purchase and use official Premier League-licensed NFTs.
Why We Like It: I have a huge passion for sports and have been playing fantasy sports for 25 years. With all due respect to Yahoo, CBS, and the like, the experience sucks, partly because they are uninterested gatekeepers with no real skin in the game. Sorare provides a collectible experience (see fun fact below) as well as pure utility - 87% of players do not spend money. It provides for a better fantasy game experience and deeper engagement with favorite teams, players, and leagues to manage teams, play games, and bet on the results.
This partnership sets a new standard for the integration of NFTs in sports and highlights the potential for NFTs to revolutionize fan engagement and experiences.
Check out the Sorare website to explore, play, and trade.
Fun Fact of the Week
Sorare is the third-biggest NFT collection worldwide (source: CryptoSlam), and they claim total turnover on the platform amounted to $500 million last year. That is double from 2021 (opposite trend of the market), and Sorare processes roughly $1 million of transactions every 24-hour period. Sports get its own category in this blog not just because of my passion but because it is the ideal breeding ground for the combination of collectibles, utility and passion. Stay tuned for more.