{
  "HubID": "2141",
  "Date": "2/3/2023",
  "HubTags": [
    "External Platform Posts"
  ],
  "Contacts": "",
  "Companies": "Tribeca Festival",
  "File": "",
  "Image": "",
  "Summary": "#tribeca Festival released special access passes in the form of #nfts  What they did, which many other brands have done and are doing, is to bypass #cryptocurrency completely and let consumers use a credit card instead, and further, a web3 wallet is automatically created for the user to hold the pass.",
  "Notes": "<p>#tribeca Festival released special access passes in the form of #nfts  What they did, which many other brands have done and are doing, is to bypass #cryptocurrency completely and let consumers use a credit card instead, and further, a web3 wallet is automatically created for the user to hold the pass.</p><p>What a new web3 consumer has to do if the Tribeca Festival process did not exist:<br /></p><p>1. Open cryptocurrency account at a centralized exchange, like Kraken Digital Asset Exchange;</p><p>2. Transfer #fiat from a regulated bank account to Kraken via ACH or wire if international;</p><p>3. Convert fiat to #ethereum cryptocurrency;</p><p>4. Download a hot wallet and create an account, like using #metamask</p><p>5. Transfer ETH from Kraken to the Metamask account;</p><p>6. Connect the Metamask wallet on Tribeca Festival’s website;</p><p>7. Make the purchase and get the NFT;</p><p>8. Transfer the NFT to a #hardwarewallet for safekeeping.</p><p>What a consumer does instead with Tribeca Festival:</p><p>1. Provide credit card credentials through a secure card interface at Tribeca Festival’s website, approve the purchase, receive the NFT in a wallet auto-created by Tribeca Festival that holds the NFT.</p><p>Talk about reducing friction. That is how consumers will use web3 for the foreseeable future.</p>"
}