004: So... what's the utility?

Around the block…

• Mattel / Hot Wheels: Continues to roll out NFT collections via Rarible including the release of now sold-out ‘NFT Garage Series 6’ and the upcoming release of ‘AcceleRacers’ on Sept. 21. They are rewarding collectors who own each item in a given series with exclusive physical Hot Wheels cars (Mattel).

• Casio / G-SHOCK: Announced its VIRTUAL G-SHOCK project, including 15K creator pass NFTs on Polygon and the launch of a Discord channel. The NFTs will be given away for free starting Sept. 23rd for Casio ID members and promise to grant holders access to virtual community events and co-creation opportunities (Casio).

• Hurley: Launched Hurleyverse NFTs - in the form of two characters, Reef & Sandy. Owners will gain access to their ‘Super Surfer’ game where they can play as their character; They will also be rewarded with a physical sweatshirt available for claim (Hurley.Jump.Trade).

• Reddit / NFL: Introduced NFL-themed Collectible Avatars representing each of the 32 teams before Thursday’s season’s kick-off. 500 items per team are being sold at $24.99 each (Reddit).

What is…?

• Rarible: A marketplace platform that allows users to list & transact NFTs. They offer ‘Community Marketplaces’ that offer creators of Ethereum NFT collections customizable trading experiences, including the ability to set royalty fees. Rarible tech is powering Mattel’s Hot Wheel and Boss Beauties x Barbie marketplaces (Rarible).

• Jump.Trade: Touted as Asia’s largest NFT marketplace on their website. They have also veered into blockchain-connected games - including Cricket game, ‘Meta Cricket League’, and racing game, ‘RADDX’, as well as the launch of the Hurleeyverse ‘Super Surfer’ game (Jump.Trade / Yahoo! Finance).

Chain Reactions!

Added Utility:

The latest round of brand projects for Hot Wheels, G-SHOCK, & Hurley all have utility at their core - with the ability for owners to unlock digital status, physical items, or early access. Brands generally are trending toward providing incentive to NFT owners, realizing that the buzz of digital scarcity is not enough to drive NFT demand for most companies (as it was in 2021).

The technology behind NFTs, such as authentication & transferability, continues to provide intriguing & creative ways for brands to connect with engaged customers. It has been interesting to watch the brands entering the space - as many are unexpected. I’m sure many more are working behind the scenes to catch up!