14 lines
1.9 KiB
JSON
14 lines
1.9 KiB
JSON
{
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"HubID": "2147",
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"Date": "2/9/2023",
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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": "Porsche",
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"File": "",
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"Image": "",
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"Summary": "Learnings from #porsche recent entry in #web3 – the good, the bad, market expectations and the takeaway",
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"Notes": "<p>Learnings from #porsche recent entry in #web3 – the good, the bad, market expectations and the takeaway</p><p>The Good:</p><p>* They sold 2363 NFTs;</p><p>* It was their first foray into web3 and was easy to do without many complexities behind the NFT or the process;</p><p>* They got a lot of learnings that they can, and are, building on.</p><p>The Bad:</p><p>* It was a vanilla collectible NFT that was circa 2021 and not at all interesting for 2023;</p><p>Market Expectations:</p><p>* There were some voices that said the mint price was too high, supply to large, and not enough benefits for owning the NFT;</p><p>* The original collection number was 7500, and Porsche only sold 2363 when it stopped the minting process, so it was a failure.</p><p>Takeaway:</p><p>It was a success because they sold products (NFTs in this case), got feedback, and can build on that.</p><p>Doing it the way they did leaves them open to many directions in which to go from here.</p><p>Right now, web3 is not about meeting market expectations as much as it is just getting out there, trying things, getting data, learning, adjusting, and repeating the process, over and over.</p><p>As long as a brand is not trying to consciously rug its user base and what the company tries does not irreparably hurt their brand, there are no failures.</p><p>If we’re in the future and look back, is the story here about how Porsche failed in its first NFT launch, or how they learned from it to create what its customer base wants in web3. </p><p>Given its the Porsche brand and the enduring legacy they want to protect, I think it will be the later, which is what we will remember.</p>"
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}
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