14 lines
2.0 KiB
JSON
14 lines
2.0 KiB
JSON
{
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"HubID": "2156",
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"Date": "2/16/2023",
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"HubTags": [
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"External Platform Posts"
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],
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"Contacts": "",
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"Companies": "",
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"File": "",
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"Image": "",
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"Summary": "#web3 storm clouds means it may be stuck in the current stagnant no-growth zone for awhile",
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"Notes": "<p>#web3 storm clouds means it may be stuck in the current stagnant no-growth zone for awhile</p><p>My predictions for hitting U.S. mass market usage of web3 in specific verticals were as follows:<br /></p><p>* Sports event #ticketing . Creating NFTs behind tickets to sports events is a no brainer and has good momentum now. I would estimate mass market use in 2-5 years. Leaders: NBA, NFL, MLB.</p><p>* #loyaltyprograms . 3-5 years. Leaders: Starbucks</p><p>* #gaming . 3-5 years. Leaders: Roblox, Epic Games</p><p>* #apparel and #luxury 4-10 years. Leaders: Nike, Adidas, luxury brands.</p><p>But, as of a few weeks ago, I am not so sure about these timelines and think they will be further out because of the following:</p><p>1. regulator activity that is not providing guidance allowing the industry in the U.S. to grow;</p><p>2. excessive blockchain transaction processing costs;</p><p>3. massive friction with current blockchain use;</p><p>4. and market conditions that are disincentivizing the paradigm’s development by consumer brands.</p><p><br /></p><p>All of this will get worked out over time, but the regulatory activity is especially problematic and means we may not get clarity till at least 2025 and beyond, past the next election cycle.</p><p>My general near-term recommendations with web3 and #consumerbrands still hold, which are:</p><p>1. learn the paradigm and test and experiment with it;</p><p>2. collect primary and secondary data on customers with respect to their technology use to learn how web3 might fit for them;</p><p>3. and adjust production and inventory practices to be able to uniquely identify each item that rolls off a production line.</p><p>But do not deploy web3 in a meaningful way for consumers at this time. </p><p><br /></p>"
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}
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