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While some brands displace away from web3 in 2023 during a long crypto winter , Puma stayed the course and its question of emerging technology , Ivan Dashkov , tell apart TechCrunch+ ithas no intention of leaving .
Aftertwo class working with web3 , Puma ’s technical school revenue remain humble , but the sportswear manufacturer intends to be quick for a more crypto - friendly future . “ Web3 is a self-aggrandising shift in how people apply the internet , ” Dashkov said . Such change to how the internet is used can lead to landscape - transformation for brands , something that Puma is more than aware of .
The company “ miss the boat ” on the big eastward - commerce and social media waves that happened in the retiring few decade , so it want to be early in this space , Dashkov explained . “ We do n’t think the way the place exists today will be what it see like in four or five old age , but we desire to be ready . ”
In February 2022 , Puma registered its first Ethereum Name Service ( ENS ) domain — Puma.eth . ENS domains are popular among Ethereum user who want to have accessible addresses , usually related to themselves or a brand , instead of copying and glue a string of at random render letters and numbers .
Digital identities might be the secure direction to prove who you are on-line
In June 2023 , Puma launch Black Station and Black Station 2 , which itswebsiterefers to as an “ observational 3D spatial resort area , ” which is a raft of words to basically describe a metaverse . I tested out the debut page and find it to be a moment slow and confusing . ( Disclaimer : I ’m not a immense gamer , so perhaps I ’m miss the full point , but I imagine not all Puma fans are either . ) no matter , its metaverse aims to ply consumers with a different way to interact with the brand , Dashkov say .
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There ’s a growing sympathy among brands that an NFT is “ no longer just a jpg collectible , ” David Nage , portfolio manager at Arca , said . “ It opens the threshold to a new relationship with consumer . ”
Even though the NFT market was “ dinge ” and “ overall interest was down , ” Puma turn two NFT collections , PUMA PassandSuper PUMA , both of which sold out in less than an time of day , in September 2022 and February 2023 , respectively , Dashkov said . Pass holders get sole access to novel sneakers , free detail and other launches in its metaverse that normal consumers do n’t , he added .
There are about 4,000 PUMA Passes and 2,000 holders for the solicitation and 10,000 Super PUMA NFTs and 3,300 holders — all are sell out , with some superfans holding two or more NFTs , for example , Dashkov noted .
“ In the other days of NFTs when it was hype , a lot of civilisation was happen around NFTs , ” Dashkov pronounce . “ It was amaze so much attention and for brands that want to be culturally relevant , that ’s where you need to be . . . it ’s finding where mo of civilisation are happening and forcible and digital creation are being a part of those here and now . ”
As 2024 kicks off , the company plans to continue oeuvre with other freehanded brands in the quad and deepening its kinship with subsist ones like Meta . Even though it ’s not a “ vast goal , ” Puma ’s partnership with Meta ’s practical avatar storage has been a “ revenue machine driver ” and impart Puma receipts stream through its digital goods channels , Dashkov said .
In the last six to eight month , Puma has sharpen a fortune of its web3 ontogeny exertion on digital ware , NFTs , Meta ’s incarnation store , console titles and wandering games , given how many people are drawn to those spaces .
Nage expects there will be more traditional on-line games embracing digital asset and the physical and digital , or “ phygital , ” in a way to enchant the care of billions of gamers globally . Using digital residential area experience like Puma ’s or Nike ’s .SWOOSH , fans can give tongue to their “ personal style through gambling , ” Nage added .
“ We want to be where people are pass prison term , Energy Department and money , ” Dashkov said . “ It ’s significant to be combat-ready and busy in those space ” even though they ’re only making “ small gross ” thus far .
But making money in web3 is n’t Puma ’s destination right now . “ The openhanded goal is to have people wearing Puma gear in these space because they ’re proud to show it off . It ’s of import for us as a brand to be there . . . and [ in the recollective - term ] increment of revenue will come from these spaces , hopefully , ” he added .
In the past , Puma “ was n’t see as innovative , ” Dashkov say . But he ’s hoping that Puma ’s cryptical dive into web3 change that . “ We ’re still testing and learning . That ’s been our mantra in the web3 space . ”