Juul & Ledger missed a collab opp. Same target market, similar hardware size. Call it multi-cig
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I’m excited to see all the ways that companies use consumer goods to promote blockchain technologies. For example:
Starbucks Odyssey rewards program — a new platform where customers can engage in interactive activities and earn NFT stamps
Nike .Swoosh platform — a place where customers can create and trade digital wearables and virtual sneakers
Apple AR headset — a soon-to-be-released device that will show its wearer a mixed reality world
In times when the public is hostile to crypto, consumer-facing companies must be able to articulate their relevance through clever product marketing, brand experience, and education.
I want to spotlight a brand that I particularly am a fan of: Ledger, a hardware wallet company.
They don't just see themselves as a security instrument, a device you use to keep your coins. They branded themselves more closely to a fashion company, sporting collaboration with Fendi, Hublot, and top musicians.
These collaborations bridge the gap between technology and culture, connecting consumers with artists and allowing for customized designs. This different strategy and positioning made Ledger stand out from other hardware brands.
Prediction
Brands will venture beyond NFT PFP hype for marketing partnerships. I expect less collabs such as Crypto Punks x Tiffany in 2023. Because partnerships based on hype don't have meaningful impacts beyond short-term pump and dump.
Although both Crypto Punks and Tiffany have a big following and a strong fan base, this partnership did not create any long-term benefits, such as increased brand loyalty, while the risk is tarnishing a brand's reputation among the traditionally-minded crowds.
What I expect to see more are fundamental offers that build market influence and customer loyalty. For example, a cross-industry membership program that rewards both online & offline engagements.
Incentive-based collaborations are what I think will be the main trend going forward. Companies will look to maximize their customer engagement and loyalty with special digital rewards.
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