Should we pursue rebranding FTX arena to ApeCoin Arena?

Common physical IP use case for the web3 IP

In the past, BAYC holders once pay advertising to show BAYC in billboards. Now the situation is reversed as BAYC has become a cultural brand.

Why brands want to have BAYC IP for their products?

  • Genz and web3 target audience with a reach of 1M+
  • Brand awareness and cultural impact
  • Being the first mover in a vertical
  • Drive sales through community engagement
  • Crowd source story development

Where we are at now?

Tier 1 brands are in R&D mode. Adidas, Gucci, Nike, Samsung all have internal team to focus this matter. They are launching collection, testing the market, iterating the approach.

Tier 2-3 brands have a higher margin of error to try new things. I.e. Wine, Fashion collaboration.

What is missing?

  • Infrastructure, strategy, storytelling, project management, commercial activation
  • 【1】Infrastructure: metaverse as a destination to realize gated access and utility for NFTs
  • 【2】Strategy: achieve short, mid and long term objectives to grow brand awareness with the right timing, chains, collection, partners, pricing
  • 【3】Storytelling: a good story retain audience, a great story creates strong world of mouth to turn participants to advocate
  • 【4】Project management: an experienced team to execute
  • 【5】Commercial activation: brands need to get positive ROI in an ongoing basis

This means throwing money at SuperBowl or Arena could be waste of money without proper way to convert and retain users in apecoin ecosystem. When the barrier for entry is high to enter the space, cost per user acquisition is high, being title sponsor might not be justified.

Case studies

  • The Sandbox Season 3 is a great example that fill the four points above, commercial activation can be improved with gated ticket sales. We only have alpha pass and wearable sales in Season 3.
  • For Apecoin, we have submitted an AIP to accelerate projects to guide projects to expand IP growth AIP-141: Ape Accelerator By ApeCoin

What can be improved from here

  • 【1】Launch of The Otherside: this enable gated access, gated content for commercial activation, co-development for both brands and builders. Otherside is a place where social, entertainment and utility value is realized. The chemistry effect brings fun experiences that attract players outside of yuga, apecoin community, where traditional web2 gamers, KOLs come here to play, have a good time, while getting themselves involved in with Otherside event. For example, Snoop Dogg’s private concerts.
  • 【2】Additional studios/creative guild involvement: who can turn stories into games, events. We have 55k metaverse labour force gap here, more labour is needed to grow the space together.
  • 【3】Industry win to inspire more brands to come to the space. 10ktf and Gucci’s success, punk and Tiffiany & Co instills confidence. FTX discourage a lot of brands to move forward. We need bigger brand wins with millions of dollars in sales for brands to attract more builders and brands to get involved.

What can we do to accelerate web3 IP adoption?

  1. Reach out to our web2 network. Any vertical that has relation to physical products.
  2. Find agency to get involved in casting calls. Boredjob is a good example.
  3. Create our own proposal. Set your term to negotiate with fashion, food, beverages and entertainment brands
  4. Get involved in sub-communities for lore development I.e. Mutant Cartel, identify brands that can add to its storyline like 10ktf
  5. Chat with founders who already working on these IP driven projects. See how we can help connecting lore and brand together. This is November Yuga IP list.