As Horizon’s Web3 division, Chapter & Verse attended the Adage Web3 Summit on May 9th and 10th. Brands and agency leaders came together to discuss the current state of Web3, and where it’s going in the future.

Key takeaways from the summit for brands include:

• Brands are still investing in Web3 but are rebranding the technology to make it less intimidating.
• NFTs are shifting from a speculative, unattainable asset class to utility-focused and attainable vehicles for brands to increase loyalty.
• Measurement is evolving across media, for Web3 this means we need to rethink KPIs to focus on engagement metrics (ie., Time Spent, actions taken, in-game participation).

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Chapter One: Top News and Trends This Month

NFTs:

Bitcoin NFTs have been taking the media by storm. Bitcoin is the largest cryptocurrency, whereas Ethereum was the blockchain with the most NFTs minted on-chain. At C&V, we continue to evaluate the best options for our clients when creating digital assets.

Barbie has joined forces with women-led Web3 brand Boss Beauties to debut a Barbie x Boss Beauties line of on-chain virtual collectibles that celebrate the many careers undertaken by the iconic toy figure since the popular toy first launched in 1959.

METAVERSE:

NHL is the most recent brand to activate in Roblox. Sports and entertainment brands clearly benefit from metaverse activations due to the immense storytelling potential and custom gamified experiences. The NHL launched a Roblox activation called “NHL Blast” this month to take advantage of these benefits.

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Chapter Two: Case Study

OVERVIEW:

Sports Illustrated announced its new ticketing platform BoxOffice where consumers can now purchase verifiable tickets aimed towards community events, similar to Eventbrite — a great use case for blockchain technology.

STRATEGY:

Ticketing is a clear use case for blockchain technology. It leverages the immutable nature of the blockchain to provide clear provenance of ownership. This offering creates an obvious benefit to the consumer and the brand, which establishes trust in a space with a significant volume of counterfeit offerings. In addition, Sports Illustrated is highlighting community in its messaging, which is vital in the world of Web3.

WHY IT MATTERS:

Ticketing has been adopted by multiple companies in 2023, from Tribeca Film Festival to Fly Bondi and now Sports Illustrated. It is beginning to emerge as a rapidly growing market for the masses to get involved in Web3.

For any questions or to learn more about how Chapter & Verse can help with Web3 activations, reach out to: Info.C&V@horizonmedia.com

Follow Chapter & Verse on Twitter: https://twitter.com/CxV_HMI