DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
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What are these Reddit digital collectibles?
“Reddit Collectible Avatars are limited-edition digital collectibles based on the social platform’s mascot, Snoo. Their main utility is a digital identity on Reddit’s social platform, with some added perks on profile treatment.”
As of now, more than 6M millions users own the digital collectibles.
“According to Dune Analytics, more than 6M unique user addresses hold Reddit collectibles, with over 8.4M avatars minted since the project’s launch and nearly every subsequent release achieving higher mint volumes than preceding drops, displaying clear user adoption.”
That’s easily 20X of Axie Infinity users and 4X of OpenSea users!
Users have spent nearly $11.4M on these collectibles.
Sure, it is far from what Nike and other brands made, but I am certain that this is just the beginning, laying the foundation of a lot more exciting things to come.
Here are some reasons why Reddit’s entry into web3 was so successful.
They didn’t call it NFTs.
They named them “Digital Collectibles”.
They didn’t want it to be complicated.
Complicated like web3 wallets and navigating different blockchains.
Reddit made it easy for web2 users to just create a Vault to store all the collectibles.
They didn’t need to accept cryptocurrencies.
Why?
See, just to accept USDC or Matic or Eth, users would first need to familiarise with wallets, seed phrases, on-ramping, using an exchange to buy such cryptocurrencies.
That alone is complex and tedious.
How will you onboard the millions of Reddit users if such a barrier to entry exists?
They just accepted good ol cash.
For now.
Maybe they will introduce their own coins in the future, but that’s another thing altogether.
Just incredible.
“Just three months after the initial release of Reddit Collectible Avatars, Reddit spawned the creation of more than 3M crypto wallets, 99% of which are unique users. This surpasses OpenSea’s 2.3 million active wallets.”
Now with these millions of users, that are semi-exposed to web3, they can continue drip-feeding them other interesting things and deepen the relationship.
In case you didn’t notice, they are bringing new users into web3.
Whether subliminally or consciously, onboarding new users into the web3 space is one of the toughest things to do.
New blood and user growth is critical to any new industry and ecosystem.
Without which, the ecosystem will organically fade and growth will stagnate.
If anything, Reddit clearly showed us how you can strategically and carefully invite new users into web3 and still maintain their current branding and community.
This is probably one of the best launch for a web2 company into web3 in 2022.
Can you think of a better example?
-
Have you heard of Reddit’s Digital Collectibles?
-
#startups #business #startupx #growth #success #socialmedia #culture #entrepreneurship #strategy #eth #btc #crypto #digitalcollectible #reddit #redditnft #NFT #newusers #growth #launch #defi
What are these Reddit digital collectibles?
“Reddit Collectible Avatars are limited-edition digital collectibles based on the social platform’s mascot, Snoo. Their main utility is a digital identity on Reddit’s social platform, with some added perks on profile treatment.”
As of now, more than 6M millions users own the digital collectibles.
“According to Dune Analytics, more than 6M unique user addresses hold Reddit collectibles, with over 8.4M avatars minted since the project’s launch and nearly every subsequent release achieving higher mint volumes than preceding drops, displaying clear user adoption.”
That’s easily 20X of Axie Infinity users and 4X of OpenSea users!
Users have spent nearly $11.4M on these collectibles.
Sure, it is far from what Nike and other brands made, but I am certain that this is just the beginning, laying the foundation of a lot more exciting things to come.
Here are some reasons why Reddit’s entry into web3 was so successful.
They didn’t call it NFTs.
They named them “Digital Collectibles”.
They didn’t want it to be complicated.
Complicated like web3 wallets and navigating different blockchains.
Reddit made it easy for web2 users to just create a Vault to store all the collectibles.
They didn’t need to accept cryptocurrencies.
Why?
See, just to accept USDC or Matic or Eth, users would first need to familiarise with wallets, seed phrases, on-ramping, using an exchange to buy such cryptocurrencies.
That alone is complex and tedious.
How will you onboard the millions of Reddit users if such a barrier to entry exists?
They just accepted good ol cash.
For now.
Maybe they will introduce their own coins in the future, but that’s another thing altogether.
Just incredible.
“Just three months after the initial release of Reddit Collectible Avatars, Reddit spawned the creation of more than 3M crypto wallets, 99% of which are unique users. This surpasses OpenSea’s 2.3 million active wallets.”
Now with these millions of users, that are semi-exposed to web3, they can continue drip-feeding them other interesting things and deepen the relationship.
In case you didn’t notice, they are bringing new users into web3.
Whether subliminally or consciously, onboarding new users into the web3 space is one of the toughest things to do.
New blood and user growth is critical to any new industry and ecosystem.
Without which, the ecosystem will organically fade and growth will stagnate.
If anything, Reddit clearly showed us how you can strategically and carefully invite new users into web3 and still maintain their current branding and community.
This is probably one of the best launch for a web2 company into web3 in 2022.
Can you think of a better example?
-
Have you heard of Reddit’s Digital Collectibles?
-
#startups #business #startupx #growth #success #socialmedia #culture #entrepreneurship #strategy #eth #btc #crypto #digitalcollectible #reddit #redditnft #NFT #newusers #growth #launch #defi
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