Fraser Bell / OHO LabsWhy I joined MintStars.
Over the last 3 months, I’ve been working with MintStars to drive awareness of a groundbreaking new web3-enabled platform for content creators. MintStars’ goal is to reinvent the creator economy while putting creators first - maximizing their earnings, protecting their content, and reducing burnout. 3 notes on the space:Market size: The creator economy may be a relatively new field, but over 50 million people now work as creators.Big problems: There are major unaddressed problems in the space...
Fraser Bell / OHO LabsWhy brands and retailers should use NFTs to reward customers for their loyalty
NFTs or non-fungible tokens took the world by storm in 2021, with recent reports putting the value of the market at over $40 billion. In December, Nike made waves by acquiring RTFKT, a digital fashion and NFT studio, for an estimated $100 million. This year is set to be another year of explosive growth for the space. So far in 2022, brands including Samsung, GAP, Patrón, Hennessy, Konami, Associated Press, Budweiser, Barbie and Bugatti have all announced NFT launches, with many other organisa...
Fraser Bell / OHO LabsRandom observations from 2022 in web3
After 6 startups, 12 months, and several thousand hours of marketing, business development, community management and all round grind, I was going to write a list of learnings and observations from 2022 in web3. However, I got distracted and decided to enjoy a few days off over Christmas. Instead, here are 3 random observations from the past year:The quality of founders and operators was far higher in 2022 than in 2021. There are more smart people with great ideas tackling big problems than a ...
CMO at [MintStars](mintstars.com) Worked for 6 web3 startups in 2021/22 Passionate about the creator economy, ecommerce, brands and web3
Fraser Bell / OHO LabsWhy I joined MintStars.
Over the last 3 months, I’ve been working with MintStars to drive awareness of a groundbreaking new web3-enabled platform for content creators. MintStars’ goal is to reinvent the creator economy while putting creators first - maximizing their earnings, protecting their content, and reducing burnout. 3 notes on the space:Market size: The creator economy may be a relatively new field, but over 50 million people now work as creators.Big problems: There are major unaddressed problems in the space...
Fraser Bell / OHO LabsWhy brands and retailers should use NFTs to reward customers for their loyalty
NFTs or non-fungible tokens took the world by storm in 2021, with recent reports putting the value of the market at over $40 billion. In December, Nike made waves by acquiring RTFKT, a digital fashion and NFT studio, for an estimated $100 million. This year is set to be another year of explosive growth for the space. So far in 2022, brands including Samsung, GAP, Patrón, Hennessy, Konami, Associated Press, Budweiser, Barbie and Bugatti have all announced NFT launches, with many other organisa...
Fraser Bell / OHO LabsRandom observations from 2022 in web3
After 6 startups, 12 months, and several thousand hours of marketing, business development, community management and all round grind, I was going to write a list of learnings and observations from 2022 in web3. However, I got distracted and decided to enjoy a few days off over Christmas. Instead, here are 3 random observations from the past year:The quality of founders and operators was far higher in 2022 than in 2021. There are more smart people with great ideas tackling big problems than a ...
CMO at [MintStars](mintstars.com) Worked for 6 web3 startups in 2021/22 Passionate about the creator economy, ecommerce, brands and web3
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It’s the question I’ve been asked most frequently over the last 2 months…so what’s the answer?
TL;DR:
While NFT sales and trading volumes are down significantly, the activity in the space - from a tech, talent and fundraising perspective is encouraging.
The roots being grown right now will enable adoption for those new to web 3 and expand the scope of existing projects.
—
The case in favour:
Sales volumes are down massively - Monthly sales volume on OpenSea, the largest NFT marketplace, dropped to $700 million in June from a high of nearly $5 billion in January.
Prices of the leading “blue chip” NFT projects are down - such as CryptoPunks, Bored Ape Yacht Club and Moonbirds. The values are lower in both ETH and USD.
Crypto crash - there is less money in the market. $2 trillion in wealth was destroyed in the cryptocurrency markets, with Bitcoin and Ether having lost over 50% of their value at one point.
The case against:
Meta, Snap, Twitter and Reddit have all launched NFT features on their platforms. In each case, the focus is on using NFTs as the tool to create your digital identity.
In other “big tech” news, eBay acquired NFT marketplace KnownOrigin, sighting NFTs as part of the company’s vision to connect buyers and sellers with “the perfect, hard-to-find, or unique addition to their collection.”
A host of NFT startups have raised funding and brought talent into the space over the last few months.
Promisingly, many are targeting the increasing adoption of NFTs within specific niches. For example, Draup is building a fashion metaverse platform, Verse has successfully launched, targeting fine art and curated exhibitions, while Zoop unveiled its offering centred on collectables from leading social media creators.
In conclusion, NFTs are happening. The current market is tough, but there’s a long way to go.
As this article explains we’ve merely reached “the end of the beginning.”
It’s the question I’ve been asked most frequently over the last 2 months…so what’s the answer?
TL;DR:
While NFT sales and trading volumes are down significantly, the activity in the space - from a tech, talent and fundraising perspective is encouraging.
The roots being grown right now will enable adoption for those new to web 3 and expand the scope of existing projects.
—
The case in favour:
Sales volumes are down massively - Monthly sales volume on OpenSea, the largest NFT marketplace, dropped to $700 million in June from a high of nearly $5 billion in January.
Prices of the leading “blue chip” NFT projects are down - such as CryptoPunks, Bored Ape Yacht Club and Moonbirds. The values are lower in both ETH and USD.
Crypto crash - there is less money in the market. $2 trillion in wealth was destroyed in the cryptocurrency markets, with Bitcoin and Ether having lost over 50% of their value at one point.
The case against:
Meta, Snap, Twitter and Reddit have all launched NFT features on their platforms. In each case, the focus is on using NFTs as the tool to create your digital identity.
In other “big tech” news, eBay acquired NFT marketplace KnownOrigin, sighting NFTs as part of the company’s vision to connect buyers and sellers with “the perfect, hard-to-find, or unique addition to their collection.”
A host of NFT startups have raised funding and brought talent into the space over the last few months.
Promisingly, many are targeting the increasing adoption of NFTs within specific niches. For example, Draup is building a fashion metaverse platform, Verse has successfully launched, targeting fine art and curated exhibitions, while Zoop unveiled its offering centred on collectables from leading social media creators.
In conclusion, NFTs are happening. The current market is tough, but there’s a long way to go.
As this article explains we’ve merely reached “the end of the beginning.”
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