📝 Field Notes #57: Laser Eyes
Bitcoin spot ETF approved. PepsiCo goes virtual. Roblox & loyalty. X removes NFT profile pics. Circle files for IPO. Apple Vision Pro release. OpenAI launches GPT store. Top charts, fundings & more.
⏱️ Reading time: 3 min
“Achieving scarcity in digital form was Bitcoin's great technical breakthrough” — Matt Huang, Paradigm
📚 Top 5 Reads
New rules of brand marketing. By Ana Andjelic. Link
New year, new ideas: 2024. By a16z crypto. Link
From revolution to real-world value: How companies can benefit from Web3 in 2024. Fortune. Link
Consumer crypto’s breakout cycle. By Amanda Young. Link
Consumer crypto report 2023. By ThirdWeb. Link
Boson Protocol – Real Web3 Commerce, with Web2 UX
As the next bull market emerges, so does a new crypto-rich, Web3-savvy demographic, who are demanding authentic Web3 commerce experiences. Uniquely, with Boson, you can sell physical things as NFTs, with a slick Web2 experience while running on a fully decentralized Web3 backend. No more Web3 washing required! Reply to this email to get in contact or:
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Zoom in: Flaunt enables PepsiCo to capture first-party data at scale from Roblox and attribute ROI. Its integration with Salesforce Marketing Cloud also enables PepsiCo to personalize future marketing campaigns to known-Roblox fans.
Be smart: As cookies are fading, this is way for brands to rebuild direct consumer relationships with first-party data.
By the numbers:
With 200m+ daily active users, Roblox is the most popular virtual platform.
Half of them Gen Z, with an average user spending 2.6 hours on Roblox – every day.
Zoom out: Flaunt’s Roblox integration enables brands to connect their Roblox experiences to off-platform loyalty programs — an industry first.
Punchline: Going into 2024, expect more omnichannel experiences connecting loyalty activations across digital and physical, on- and off-chain and across different platforms.
More on Web3:
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🌎 Crypto & Macro
The laser eyes are back💥
The U.S. Securities and Exchange Commission has approved 11 spot bitcoin exchange-traded funds (ETFs). Link
Off to a great start: Spot bitcoin ETF volumes eclipse $4.5bn on first day of trading.
Stepping back: A Bitcoin spot ETF is a type of investment fund traded on the stock market that allows investors to buy shares representing direct investment in actual Bitcoin, without needing to purchase Bitcoin itself — making it accessible to a much broader investor base.
Zooming out: The Bitcoin spot ETF has been in the making for over 10 years (see its full history). First proposed by the Winklevoss brothers in 2013, Bitcoin’s market capitalization has risen from less than $1bn to $600bn since.
Punchline: SEC approval of a Bitcoin spot ETF is a watershed moment for crypto, which is now officially legitimized in traditional finance. It comes with rising institutional interest and may pave the way for a ETH spot ETF down the road.
More on crypto:
PayPal’s stablecoin grows by over 70% in 30 days. Link
Brevan Howard joins institutional effort to tokenize funds. Link
USDC stablecoin issuer Circle confidentially files for IPO. Link
OpenAI launched its GPT store. Link
💰 Money Moves
Finoa: The Germany-based crypto custodian and staking provider has raised $15m.
That’s all for now, folks. Thank you for being part of the journey.
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I found no indication that assets are blockchain based.