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- Nike Will Bring NFT Creations to EA Sports Games
Nike Will Bring NFT Creations to EA Sports Games
Plus: Sports NFTs in Financial Trouble, China Set for Web3 Renaissance
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 940 words, a 4-minute read.
This week’s TL;DR:
👟 Nike & EA SPORTS partner for web3 experiences
🔻Sports NFT projects in financial trouble
🧧Bejing to revitalize web3
PLUS: T-Mobile, Camp, Mercedes-Benz, RIAA, Cannes, F1, SAP, and more!
📅 Upcoming events: NFT.Brasil, Sao Paulo (Jun 2-4); Non Fungible Conference, Lisbon (Jun 7-9); DCentralCon, LA (Jun 8-9), Epic Web3 Conference, Lisbon (Jun 9); Fans Love It, Istanbul (Jun 10); Metaverse Beauty Week (Jun 12-17).
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The Big One
Nike .SWOOSH and EA Sports partner for virtual sports experiences
Nike Virtual Studios and EA Sports partnered to enhance and personalize virtual sports experiences. As a first step, Nike will make available its virtual creations, such as the recently dropped OF1 sneakers, to be “worn” in EA Sports titles for self and creative expression. Read more →
The Takeaway: Virtual creations are only as useful as opportunities to show them off. By engaging a longtime partner, Nike is skipping the (costly) metaverse creation step and delivering utility through a popular gaming venue.
Recommended deep dive:
By the Numbers
Sports NFT projects in financial trouble as model proves unsustainable in downmarket
As NFT volumes remain low, multiple sports-licensed NFT projects are renegotiating or delaying “minimum guarantee” payments to their league partners:
NFL Players Association has been unable to collect $42M in NFT-related revenue, likely from Dapper Labs NFT All Day.
DraftKings has renegotiated the Reignmakers deal with NFLPA.
Sorare is seeking new terms on its MLB and MLS deals.
The Takeaway: The sports industry’s traditional “minimum guarantee” model, originating from broadcasting deals, is much riskier for operators in the volatile NFT space. Revenue share is the way forward.
Bold Strokes, Long Marches
Beijing white paper lays groundwork for web3 renaissance in China
Beijing released a web3 white paper aimed at promoting innovation and development of the web3 industry. Many read this as a sign that Chinese consumers may be able to access web3 legally in the future. Read more →
The Takeaway: Just like with luxury goods, China is a potentially huge market for Western NFT projects. However, this initiative will likely hinge on China’s ability to censor blockchains just like the internet and social media.
Top Headlines
🛍 Consumer & Mainstream
Deutsche Telekom now supports Polygon blockchain infrastructure.
Camp partnered with Doodles NFT for immersive experiences and toys.
Starbucks will airdrop more NFTs to expand its web3 rewards program.
Bacardi will host pop-up events with sneaker NFTs and Snap AR lens.
Kellogg’s filed 12 trademark applications for metaverse and NFTs.
ANA, Japan’s largest airline, launched NFT marketplace for aerial photos.
💍 Fashion & Luxury Goods
Nike .SWOOSH OF1 NFT sale surpasses $1M despite tech issues.
Mercedes-Benz NXT shared details of its inaugural core collection.
Prada is launching Timecapsule NFT collection with physical tanktops.
🎬️ Entertainment, Culture & Media
RIAA awarded Willow Smith the first music NFT plaque in history.
MetaCannes: Web3 filmmakers are leading ‘next wave’ of cinema.
Epic Games (of Fortnite) will launch 20 NFT games in its store.
Ubisoft partnered with Reddit for Rabbids-themed free NFTs.
Activision Blizzard VP of Community joined zkSync blockchain.
🏈 Sports
F1 ticket provider introduced NFT tickets for Monaco Grand Prix.
Red Bull Racing will build immersive fan experiences with Sui blockchain.
Cristiano Ronaldo’s rarest NFT holders were invited to talk to the star.
🤖 Metaverse
Virtual land value declined by almost 90% from their peak.
Smart mirrors are getting a second look from fashion.
Cirque du Soleil will build an immersive world inside Roblox.
Royal Navy introduces metaverse for submarine training.
Meta survey finds that casual gamers are crucial to the metaverse.
Marketer intel
🛠️ MarTech
SAP released the alpha version of its NFT management solution.
Co:Create published a web3 loyalty guide for brands.
🤳 CreatorTech
STEPN parent company rolled out AI tool that turns selfies into NFTs.
MakersPlace will host a live AI NFT art hackathon at NFC Lisbon.
SocialFi: A blank canvas for web3 social apps.
💰️ Deals
Cornos Lab launched a $100M web3 accelerator program.
Magic raised $52M round, led by PayPal, for its wallet-as-a-service.
Transak raised $20M to expand its on-/off-ramp payments offering.
VARK raised $7.2M to grow the Japanese virtual live music platform.
Boxed raised $1.5M to bring ‘loot box’ mechanic to NFT game.
Crypto VCs face a harsh reality in the bear market.
🗃 Additions to the Web3 Tools database (310 total)
🎓 Guide of the Week
Turn any NFT into a web3 wallet with token-bound accounts
For the Weekend
MoonPay Execs Cashed Out Before Business Dropped (The Information)
3D Content and the Floodgates of Production (Substack/Digital Native)
Moneyed JPEGs: Where Finance Meets NFTs (Decentralised)
Don’t Count the Metaverse Out (The Information)
Tokenizing Once-in-a-Lifetime Experiences (🎙️Apple)
CreativeMornings: Cultivating a Creative Community (🎙️Apple)
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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