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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:

  1. 👟 Nike & EA SPORTS partner for web3 experiences

  2. 🔻Sports NFT projects in financial trouble

  3. 🧧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:

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

💍 Fashion & Luxury Goods

🎬️ Entertainment, Culture & Media

🏈 Sports

🤖 Metaverse

Marketer intel

🛠️ MarTech

🤳 CreatorTech

💰️ 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)

  • Royalty: platform tokenizing future revenue from creator channels

  • GroupOS: tools for collective coordination and incentive distribution

  • Ucollect: no-code platform to create NFT memberships

  • MetaForm: blockchain-native survey tool

🎓 Guide of the Week

For the Weekend

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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