Newsletter No 1

Welcome to our first newsletter! Today, we will be discussing the challenges of blockchain brands in going mainstream. While some major blockchain brands like BAYC, DeadFellaz, Pudgy, and Doodles have taken steps in the right direction with some professional hires, they are still far from mainstream acceptance.

An example of a non web3 obscure brand that has achieved mainstream success is Duck Dynasty, a reality TV show that has generated over $400 million in merchandise sales. Duck Dynasty's success can be attributed to a combination of factors, including the unique and entertaining personalities of the Robertson family, the popularity of reality television shows, and the show's ability to tap into a market of viewers interested in hunting, outdoor lifestyle, and "redneck" culture.

This showcases the potential for blockchain brands to branch out into other areas such as toys, merchandise, and TV shows in order to generate mainstream interest. However in the end it all depends on the execution and hope that the war chest that these brands have generated from NFT sales can help them to a certain extent. The good thing is that some of them have slowly started bringing some professional managers on board which is a great thing for the future.

However, one of the major challenges for blockchain brands in going mainstream is the current user experience of web3. The current state of web3 is not user-friendly and requires a significant amount of technical know-how, which can be a major barrier for mainstream adoption. Even tech-savvy executives like Kevin Rose have struggled with the user experience of web3.

Notables News of the Week

TREND TO WATCH

Rise of gen art & success of 1/1 works. There is a recent trend of migration of people investing in PFP's ( except for flippers, ex sneaker-heads and bots) and actually picking up things that they like or focusing on 1/1. Perkwerk is a great example of artblock curated drop (The Harvest) that was highly successful, some of his earlier pieces are still available on fxhash are reasonably priced still. An artist to newly watch out for is ripcache whose artwork's evokes a strong reaction in bringing to light the surveillance state that we all live in the world today and the violation of an individuals privacy. I expect in 2023 more such artists and their collections to be successful then PFP based communities.

I will continue to keep you updated on the latest on the efforts of these brands going mainstream. If you have any thoughts on these please dont hesitate to drop me a note via [email protected] or at @laks on Twitter. Till then Stay tuned for our next newsletter!

Cheers,

Duke