It’s no secret that speculative NFT markets have struggled over the past few months. However, The Polygon network saw a surge in activity with 772,424 traders, dominating the sales count with 27% of all trades in July. Polygon gas fees are much lower than on the Ethereum blockchain and the network has been chosen by brands like Starbucks, Reddit, Nike, and others to power their Web3 loyalty efforts, and are seeing strong demand.

Chapter One: Top News and Trends This Month

NFTs:

• Coca-Cola is reinvesting in Web3 with a new NFT collection tied to its recent “Masterpiece” campaign. The drop, in collaboration with Web3 partner Coinbase, is a series of digital Coca-Cola bottles imprinted with artwork from the “Masterpiece” hero spot. The artwork includes Edvard Munch’s “The Scream” and Johannes Vermeer’s “Girl with a Pearl Earring,” as well as other pieces from emerging artists.

METAVERSE:

• New York’s Metropolitan Museum of Art is leveraging augmented reality (AR) to bring its experience to Roblox. The effort, in partnership with Verizon, allows IRL museum visitors to scan pieces of clothing-themed art, which are then turned into digital wearables formatted for Roblox avatars.

• Paris Hilton is launching Slivingland, with the goal of shifting how brands view activating in the metaverse as well as being the intersection for the hottest topics in marketing: fandom, emerging technology, and the creator economy. Slivingland will host Hilton’s media empire while also offering real estate to brands. It acts as a home for content and products created by Hilton and her media company, 11:11 Media.

AI:

• Creators of the original “Got Milk?” campaign and brand have released a catchy and visually entertaining musical spot poking fun at them. The ad’s title and message are one: “Everyone Wants to Be Milk,” visualized by AI.

Chapter Two: Case Study

OVERVIEW:

Snoop Dogg is expanding his presence in the food world with a new line of ice creams. Dr. Bombay Ice Cream is named after the rapper’s Bored Ape Yacht Club NFT, which will also be the face of the brand.

STRATEGY:

Snoop seems to be setting himself up for more food lines. Dr. Bombay ice cream is the first product line launching under parent company Bosslady Foods, a joint venture between Snoop Dogg and Happi Co., a food company that’s behind Happi Foodi frozen meals.

WHY IT MATTERS:

Web3 offers unique opportunities for creators and brands to co-create new products and revenue. From this lens, the ownership of the digital asset made it possible for Snoop Dogg to have additional commercial IP to leverage for a unique product he never had previously with a baked-in community who are potential customers from launch.

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For any questions regarding Web3 marketing/trends, AR/VR, the metaverse, blockchain technology, and beyond, reach out: Info.C&V@horizonmedia.com