Welcome to the April 2022 installment of Brand Watch - a rapid-fire overview of traditional and web2 brands moving into the world of web3, either through the metaverse, NFTs, or social tokens.
In July 2021, Shopify enabled Shopify store owners to sell NFTs. The feature is currently available to shop owners based in the United States and those on the Shopify Plus plan. By applying to join the NFT Beta Program, shop owners can sell NFTs directly from their store using both credit cards and crypto. The beta program currently supports Ethereum, Polygon, Flow, Videocoin and Solana. Shopify also confirmed it is working to expand the NFT beta program to other countries beyond the United States.
More recently, Shopify announced an incredible giveaway. The team is giving away a Doodles NFT.
Puma is the latest big sportswear brand to jump feet first into crypto and blockchain tech, buying a decentralised .eth URL from the Ethereum Name Service (ENS).
The German company follows rivals Nike and Adidas into the wide world of crypto but is taking things a step further on Twitter – rebranding to Puma.eth.
According to its account on NFT marketplace OpenSea Puma has also recently purchased a cluster of cat-related NFTs. These include: Cool Cat #32 (bought for 14 ETH, roughly US$38,000 at time of writing); a Gutter Cat worth about US$20k; a couple from the CatBlox Genesis collection and a Lazy Lion.
KPMG in Canada completed the purchase of digital art from the highly acclaimed World of Women (WoW) non-fungible token (NFT) collection, its first foray into this rapidly growing technological innovation.
"NFTs unlock a new channel for organizations to engage with their customers, while also underpinning innovation through the secure digitization of assets," says Benjie Thomas, Managing Partner, Advisory Services, KPMG in Canada. "This acquisition reflects our belief not only in the continued growth of NFTs, but in the value of WoW and its mission. Having now gone through the process, we are well-positioned to guide our clients around building a corporate NFT strategy, including, acquiring, and safeguarding NFTs."
Global lifestyle brand, Skechers, has entered the metaverse by becoming the first to sign a lease in the Fashion District of Decentraland, a decentralised virtual reality platform powered by the Ethereum blockchain.
The company has also recently filed trademark applications throughout the world to sell virtual goods such as footwear and apparel, setting the foundation for new growth opportunities in the metaverse.
A fashion district is being built within Decentraland. Last year, the Toronto-based Token.com announced the acquisition of a 116 parcel estate in the heart of the Fashion Street district within Decentraland via its subsidiary, Metaverse Group. At the time Decentraland declared this to be the largest metaverse land acquisition to date.
The latest FMCG brand to join the NFT community is Maker's Mark. According to PR Newswire, the brand will be teaming up with Louisville-based NFT company Party Horses for the project.
According to PR Newswire, Party Horses has declared that Maker's Mark is going to be its "official bourbon partner" this year, and 1,000 "early adopters" will be able to get their hands on "limited-edition Party Horses commemorative labels." Party House co-owner Justin Delaney said that the brand simply wants to "create beauty, destabilize the disappointing, and collaborate with others to build amazing things." Well, one of its earliest collaborations is with well-known bourbon brand, and the NFT art for this collaboration has an interesting premise: "What if horses attended the Kentucky Derby to cheer on the human race?"
Slim Jim is bringing its meaty treats to the metaverse with plans to launch NFTs and its own virtual environment, according to a trio of recent trademark filings.
The trademarks, filed under “Slim Jim,” “Meataverse” and “Long Boi Gang,” outline plans for the company to offer “services featuring virtual goods, virtual food products and non-fungible tokens,” along with “providing a metaverse for people to browse, accumulate, buy, sell and trade virtual food products.”
HSBC, a British banking organization with little-to-no positive words and approach to the cryptocurrency industry until recently, will collaborate with The Sandbox to foray into the metaverse.
HSBC will purchase virtual real estate in the metaverse in the form of LAND. It will use it to connect and engage with sports, esports, and gaming enthusiasts.
American Express is looking to provide its real-world services in the digital world, according to trademark filings by the payments giant.
AmEx is considering providing card payments, ATM services, banking services, and fraud detection to customers in the metaverse, the Wednesday filings at the US Patent and Trademark Office suggest.
The company is eyeing a range of other features as well:
- travel, transport, and travel agency services, including bookings and tours, in the metaverse
- entertainment and concierge services in the metaverse, including catering to personal and customer-specific needs
- cryptocurrency services, such as crypto management and trading services, and crypto payments processing
As part of Metaverse Fashion Week, Selfridges has unveiled a virtual department store in Decentraland, joining more than 70 brands, artists and designers in creating “a new experience at the intersection of fashion and technology’.