In the evolving world of Web3, we often confuse price with value. This confusion stems from seeing a brand’s token price as the main indicator of its strength. However, the true value of a brand is far more nuanced, it is much more complex.
However, if traditional brands have successfully navigated this challenge, why can’t we achieve the same in Web3?
A former university professor, who later became my boss, posed a thought-provoking question in class: If Coca-Cola were to sell all its physical assets, how much would it cost to purchase the brand itself? If we strip away everything—products, factories, warehouses, employees, trucks, and machinery—the answer remains that the brand would still hold billions in value. This intangible essence, which goes beyond any physical asset, represents the true value of a brand.
Today, we can ascertain the brand value of many multinationals thanks to Interbrand and its Best Global Brands ranking, which is updated annually and uses proprietary data tools and methodology to enable the audience to track their standing and growth. This methodology provides a reliable benchmark for understanding the value of traditional brands.
But what about Brand3? These are the brands within the Web3 ecosystem, whose primary indicators are token prices and community size or engagement levels. Beyond this, effectiveness often diminishes. That's why we have been focusing on consolidating these emerging brands in one place and attempting to assign them an approximate value, accessible to everyone. A reliable methodology with open tools for everyone that belongs to everyone.
Initially, driven by the need to create a benchmark for analysis, I developed a Brand3 database in Notion that included all the emerging brands from various strategic projects. To assign a value to each brand, I used a scale ranging from 2.0 to 3.0. This was the only way I found to get started, but the subjective nature of the assessment made it almost unusable and unscalable. I conducted this work in relation to my branding projects and as part of primary research.
As I delved deeper into the Farcaster Landscape, my perspective evolved once again. I realized that a new wave of decentralized brands was emerging, prompting me to create a map to categorize them by sector and company type. Initially, this process was straightforward, and we even marked this milestone with a commemorative NFT. Growth was steady and manageable according to the existing volume.
Now, we find ourselves in a different phase—a moment of expansion where new projects and brands are emerging daily. This is exhilarating, but it also leads us to overlook projects from just two weeks prior, risking their fading into obscurity and even uninstalling the PWA that we were previously engaged with.
These are some of the key reasons why we are building BRND. At FLOC*, our main goal is to continue experimenting and learning through strategic design while providing solutions to the problems we encounter and sharing them with the community. We found the opportunity to put all of this into practice by attending FarCon 2024 in Venice Beach, where we identified this need and focused our energies on developing a native Farcaster application. After several brainstorming sessions, we concluded that the app should revolve around Brand3 and the Farcaster Landscape.
Some features we are building into BRND include: - Discovery of new projects on Farcaster. - An organized repository of brands categorized by relevance and data.
A scoring system for sufficiently decentralized brand value (leaderboards).
Weekly, monthly, and seasonal rankings generated through user votes (to be determined).
A gamification system rewarding participating users.
Creation of the Farcaster Landscape and collectible features (coming soon).
Through this system, we aim to promote and reward the value of brands present in Farcaster by leveraging user evaluations in a gamified environment. By actively engaging the users and valuing their opinions, we create a community-driven platform that prioritizes feedback and collaboration while making the experience enjoyable and interactive. The resulting data will provide insights into the evolution of each project over time—a historical record and graphs based on intangibles, brand culture, narrative, and communication from both founders and project philosophies.
If you’re interested in this initiative, you can now try our alpha version of BRND. We would greatly appreciate your feedback on any errors or improvements as we continue to refine this digital product. Additionally, if you want to stay informed about all the latest from Farcaster brands, send us a private message, and we will add you to a private group with some of the best builders in the ecosystem, where we share the latest updates on these Brand3 initiatives.
Finally, follow our channel /brnd for updates and official information regarding the launch of the next season.
The Music
The Links
In the ever-evolving landscape of branding, understanding the true worth of a brand goes beyond mere financial metrics. As highlighted in the Forbes article, a brand's value encompasses its reputation, customer loyalty, and emotional connection with consumers. This intrinsic worth often plays a crucial role in driving a company’s long-term success, influencing everything from market positioning to consumer perception. As businesses navigate this complex terrain, recognizing the multifaceted nature of brand value becomes essential for strategic decision-making and sustainable growth.
Plurality philosophy in an incredibly oversized nutshell
In the evolving landscape of Web3, the concepts of identity and community are becoming increasingly intertwined, shaping the way we perceive and interact with the digital world. Vitalik Buterin's exploration of plural identities highlights the significance of individual and collective experiences in defining our relationships within these spaces. While he may not explicitly mention brands, his insights on how identities intersect with social and cultural dynamics can inform our understanding of how brands operate in this new environment.
In the article "Simplicity," the author emphasizes the profound impact of simplicity in design and communication. The key argument is that simplicity is not merely a stylistic choice but a vital principle that enhances clarity and understanding. The article explores how overly complex designs can alienate users and obscure messages, while simplicity invites engagement and fosters a deeper connection.
The Cast
The Key
“We are creating a world that all may enter without privilege or prejudice accorded by race, economic power, military force, or station of birth.”
John Perry Barlow
The Word
BRND — "Brand Ranking Nomination Database"
BRND enables users to explore and rank various identities within a dynamic environment. This database not only compiles information about emerging brands but also encourages active community participation through voting and scoring.
The NFT
The first $MILE collaboration is about to bring a new smile to everyone's face! 
Smiling is worth it and after the Rounds 2 version of $MILE we have a new NFT to continue sharing moments of happiness with the community.
Written and designed by @esdotge with the support of @victoctero
