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Apple's Softer NFT Policy Will Test Mobile Demand

Plus: Bitcoin Is New Top 2 NFT Chain, NFT Toys Debut on Amazon, D&G $100K Box Disappoints

Happy Friday! Welcome to The Web3 Marketer, where I help brands and marketers stay ahead of the web3 curve. Every week, I bring you top stories on web3 & digital collectibles across consumer & loyalty.

Today's write-up is 967 words, a 4-minute read.

This week’s TL;DR:

  1. 🍏 Apple’s NFT policy softens

  2. 🌐 Bitcoin emerges as top 2 NFT chain

  3. 🧸 NFT-inspired toys debut on Amazon

  4. 👕 Dolce & Gabanna’s $100K merch disappoints

PLUS: Game Boy, Mercedes-Benz, Paris Hilton, Pickleball, Cipriani and more!

📅 Upcoming events: NFT.Brasil, Sao Paulo (Jun 2-4); LA Tech Week (Jun 5-11); Non Fungible Conference, Lisbon (Jun 7-9); 3XP Web3 Gaming Expo, LA (Jun 8-9); DCentralCon, LA (Jun 8-9), Epic Web3 Conference, Lisbon (Jun 9)

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The Big One

Apple’s NFT policy softens as more blockchain apps are accepted into App Store

Apple’s recent App Store moves are hinting at a broader shift towards web3 mobile apps, possibly ahead of opening up the iPhone to sideloading in iOS 17:

  • Approval of Axie Infinity as the first web3 game on the App Store.

  • Integration of Apple Pay for StepN to purchase in-game sneaker NFTs (through the use of in-app credits, net of 30% Apple tax).

  • Gods Unchained game is expected to follow.

The Takeaway: Apple’s openness to accepting web3 apps on iPhones is a big step for mass adoption. However, charging users 30% Apple tax may still hinder the experience, which heavily relies on trading the collectibles, often at already thin margins.

By the Numbers

Bitcoin emerges as the second most dominant chain for NFTs

Bitcoin-based NFTs have risen to second place for NFT sales after Ethereum, which is a remarkable trend given that Bitcoin NFTs didn’t technically exist until a technical “inscriptions” update in January.

The rise to prominence has been enabled by a range of collections that fuelled hype and capital. Read more 

The Takeaway: Actually, NFTs are not a great use case for the Bitcoin blockchain - the surge in activity clogs the network and drives up the cost of transacting with coins (main use case).

Consumer Crypto

NFT-inspired toys debut on Amazon with $500,000 in sales

Pudgy Penguins NFT collection has released a line of physical toys (which include digital perks) in hopes of reaching more people and growing its brand, netting $500,000 from sales of over 20,000 toys.

CEO Luca Netz, an experienced e-commerce operator, sees physical toys as a “Trojan horse” for the web3 ecosystem and NFTs. The project recently raised $9M in seed funding. Read more 

The Takeaway: Businesses built on previously successful NFT drops slowly realize that NFT revenue is not sustainable, and start leveraging IP for physical products to unlock new revenue streams.

On a Lighter Note

Crypto influencer regrets his $100K Dolce & Gabanna NFT Platinum Box

That Martini Guy, a crypto Youtuber, revealed his worst NFT investment - the DGFamily Platinum Box that cost him ~$100,000 (2BTC) and took two years to deliver on physical goods.

What may appear as a speculator’s frustration is actually a very good breakdown of a luxury brand collection that launched at the peak of NFT hype but failed to deliver on customer value and loyalty. Watch full

The Takeaway: When you collect a lot of money, make sure you deliver on your promises, especially before launching another project.

Top Headlines

🛍 Consumer & Mainstream

💍 Fashion & Luxury Goods

🎬️ Entertainment, Culture & Media

🏈 Sports

🤖 Metaverse

Marketer intel

🛠️ MarTech

🤳 CreatorTech

💰️ Deals

  • Worldcoin raised $115M to accelerate R&D on decentralized World ID.

  • Vertex Labs acquired the creator of NFT fashion brand Hape for $12M.

  • Azteco raised $6M to provide Bitcoin vouchers for everyday use.

  • Openfort raised $3M for a 'frictionless' web3 gaming wallet.

  • Tom Brady’s Autograph partnered with SimWin Sports digital league.

🗃 Additions to the Web3 Tools database (306 total)

  • Smoothie: web3 product reviews from on-chain verified users

  • Scribe: platform for writing, distributing, and monetizing creator content

For the Weekend

  • The Not-So-Subtle Art of the Meme Coin (Wired)

  • Grimes Reviews AI Grimes Songs (New York Times)

  • Recommendation Culture vs. Spon-Con (Dirt)

  • Building Disruptive Brands with Coinbase CMO (🎙️Coindesk)

  • Mindfulness in the Metaverse with Alo Yoga CMO (🎙️Apple Podcasts)

Meme of the Week

That’s all. See you next week!

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Author Bio

Kuba Szewczyk is an NFT Product Strategy Lead at ConsenSys, helping build NFT tools for brands and creators. He previously worked at Bain & Co. Digital Assets and earned Harvard MBA.

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