005: Limited Runs & Exclusivity Plays

Around the block…

• Diesel: Sold out its 300 item NFT collection METAMORPH. Priced at $60 each, buyers had the option to mint to Polkadot or Polygon networks. The collection’s is accompanied by an exclusive soundtrack, unlocks access to an IRL fashion show, & opportunity to purchase a limited run phygital watch (Diesel X / Decrypt).

• Karl Lagerfeld: Launched an NFT collection with The Dematerialised and Italian ceramics company, Bosa, in celebration of Karl’s birthday on Sept. 10th. The collection included limited supply NFTs modeled off of two Bosa-designed Karl statues - with a handful of ultra-exclusive NFTs accompanied by matching physical figurines (The Dematerialised / NFT Now).

• Mercedes-Benz: Under their NXT Web3 nameplate, Mercedes-Benz announced a seven part Ethereum NFT series totalling 18,860 items that will highlight seven eras of design. The first drop crashed the website & they have not identified a date to resume minting (Mercedes-Benz NXT).

• Grab: Southeast Asian Uber-equivelent is integrating blockchain tech into their ride-hailing & delivery app. Users can set up a Circle-powered digital wallet, enabling them to own collectibles & unlock rewards (CoinTelegraph).

• L’Oreal: Teamed up with Ubitus to create a metaverse showroom for the Taiwanese market. It’s digital ‘Perfect Skin Expo’ will be live through September (Ubitus).

What is…?

• Public Pressure: Web3 music platform that connects artists with fans by leveraging blockchain technology to authenticate purchases & drive interaction. Partner for the Diesel METAMORPH drop (Public Pressure).

• The Dematerialised: Digital fashion & lifestyle brand that pushes boundaries at the intersection of fashion, technology, & digital expression. They have partnered with brands including Karl Lagerfeld, Vogue, Rebecca Minkoff, and RTFKT (The Dematerialised).

• Circle: Company that provides NFT & crypto marketplace infrastructure - including digital wallet creation / management in a user-friendly Web2 interface (Circle).

• Ubitus: Cloud gaming platform that hosts and streams metaverse experiences to individual devices via the internet. Enables high-quality gaming experiences without the need to download software (Ubitus).

Chain Reactions!

Limited Volumes:

Brands dabbling in the Web3 space seem to have scaled back the volume of NFTs in collections relative to volumes seen during the boom of brand activations in 2021 (see limited runs of Diesel & Karl Lagerfeld above).

With the NFT market dip, it can be safer bet to dial up exclusivity & offer a more limited amount until there is proven demand for a brand’s activations. For now, brands continue to put funds towards foundation setting, looking to prove out an emerging engagement / loyalty stream & keep up with competitors.