Welcome to PSFK's weekly newsletter. I'm Guy Brighton and this week we're sharing ideas around 3 different themes on the business of innovation including branded NFT collectibles, video gamers as the next great captive audience, and how retailers and brands are connecting with consumers by making their lives better and easier.
For the first section of this show: Are Branded NFTs This Generation's Baseball Cards?
Feeding a similar frenzy, and built out on a nearly identical foundation of tiered scarcity, retailers and brands are deploying NFTs in a way not so different than they once did with baseball cards and other manufactured collectibles, many of which were also a big hit in the ‘20’s - the 1920’s. Even if NFTs turn out to be just a fad, there’s not a lot of reputation damage to brands and retailers in trying something weird or new - as long as they build in a feedback loop so they can be receptive to what their audience really wants.
The first example we have concern how Gap dropped collectible NFTs on an eco-friendly blockchain.
For the next section of the podcast we look at how brands and retailers are Connecting With Customers & Their Aspirations
A deepening suite of tools, platforms, and programmatic solutions from businesses both big and small are allowing modern consumers to overcome the barriers behind positive behavioral change. These solutions use built-in incentives and personalized positive reinforcement to increase individual motivation and accountability, as well as offer community support, skill-sharing, and collective feedback.
For the final section of the podcast we look at how Video Games Are The Hottest Media Market For Engaging Consumers.
Gaming is now the largest and fastest-growing form of entertainment, with around 3 billion active gamers. This semi-captive audience skews young and is increasingly online and digitally savvy, making them an attractive target for brands and retailers. A recent wave of mergers and acquisitions between both platforms and publishers is bringing with it greater scale for certain players, as well as the ability for the industry to capture more concentrated spend.
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