#27: Sneakerheads Are Fashion Collectibles' Only Hope

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How Fashion NFTs Fizzled (Business of Fashion)

Fashion’s NFT collections have shared a similar trajectory: They launched with a lot of hype, but then enthusiasm quickly faded: “One thing [brands] have not been able to do, despite the involvement of some of fashion’s biggest names, is create NFTs that buyers adopt as a high-priced profile picture to represent them online (…)” Today, brands haven’t given up on NFTs (but instead market them as digital goods), but they’re looking for more practical uses for the technology such as supply chains, loyalty programs and digital twins.

Why Puma Is Investing in Web3 Despite the Skepticism of Crypto Winter (DIGIDAY)

Despite the article above, Puma is still enthusiastic about using blockchain technology to reach a new type of virtual consumer in the metaverse. The company is particularly focused on the product testing function of NFTs, the parallels between sneakerhead and NFT communities, and giving collectible holders concrete uses and utility.

How the ‘Blogilates’ YouTube Channel Spawned Two Merchandise Brands—and a Target Deal (The Information)

Pilates creator Cassey Ho who started her career on YouTube in 2009 and eventually hit 9M subscribers, transitioned to selling merchandise. Today, she runs two brands that employ over 60 people and generate $20M+ sales (ad sponsorships constitute <1% of her income). Her biggest challenge? Dupes from Shein and Amazon, and a need to figure out legal IP protection for her designs.

Is OneOf Abandoning Its Most Loyal Customers? Quincy Jones-Backed NFT Platform Faces Investor Criticism Amid Crypto Winter (Digital Music News)

Funded with a $63M raise and backed by industry powerhouse Quincy Jones, OneOf made waves in the music world, partnering with iHeart Radio, the Grammys, and WMG. Today, NFT collectors and investors are alleging failure to follow through on key promises, community support, and transparent communications.

How Influencers Are Getting Involved in Private-Equity Investments (Business Insider)

Sponsored deals aren't the only way influencers can make money working with brands. The Newcastle Network, a private-equity firm, is tapping creators as investors for DTC brands by commissioning market research with their audiences, bringing other influencers as co-investors, and hiring them as permanent marketing partners.

Grimes on Living Forever, Dying on Mars, and Giving Elon Musk Ideas for His Best (Worst) Tweets (WIRED)

Grimes, a famed electronic music artist, shared she’s “sad about what happened to NFTs and crypto, because it got polluted fast with people trying to make as much money as possible. But I do want to think about compensating artists, especially digital artists.” Ironically, her 2021 NFT collection earned her more money ($5.8M) than her entire music career. She admitted it was her brother who “(…) had a real vision, and we wound up doing one of the first big ones. It did actually change my life.” 

• Coca-Cola NFTs have brought in $450k from 60k collectors.

• Salvator Mundi, Mona Lisa, and Starry Night have been released as NFTs.

• Dave Krugman launched a film photography NFT collection.

• Reebook is releasing a sneaker based on Gary Vee’s NFT collection.

• Adidas, BAPE teamed up for ultra-limited sneakers with digital twins.

• Coach acquisition of Versace could have blockchain fashion implications.

• Mercedes-Benz is launching its second NFT collection.

• Google, Universal Music negotiate on AI-deepfaked voice licensing.

• Disney’s former head of metaverse is out.

• X creators are 'pleasantly surprised' by decent ad revenue-sharing payouts, but some are jumping ship due to controversial AI plan. Musk also continues to steal more Twitter usernames.

• Patreon, Facebook payment glitches troubled creators.

• Italy may exempt NFT art from VAT.

• Zora will share minting revenue with creators.

• OnCyber released a browser-based 3D world-building tool.

• Lore lets groups co-own an NFT and assign its utility to a member.

• Manifold enabled secondary listings on claim pages, and rule-based collector lists.

• NiftyKit launched a generative app to offer infinite artwork variations.

• Mirror entries are now collectable on Base network.

• Sound shipped Explore page for discovering artists, drops, and more.

• Bonfire added a leaderboard for the creator’s top collectors.

• Superchief Gallery plans a global network of 50 physical NFT galleries.

• X (Twitter) is set to negotiate lower Apple tax for creator subscriptions.

• Patreon creators can now publish subscriber-only podcasts on Spotify.

• Fundraises: fxhash (generative art), Moonbox (AI for digital assets)

• New tools: Calaxy (custom fan content on blockchain), WeAre8 (ad rev-sharing social platform), Peer (3D social network on blockchain), Braid (SMS group chats with fans)

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