The rate of technological innovation has increased exponentially since the industrial revolution. A 12-second flight along a North Carolina beach led to a moon landing only 66 years later. That staggering pace of development pales in comparison to what has occurred with digital technology in the past decades. That pace is likely far slower than the decades still to come. Wen moon?!
With web3 and blockchain still in their infancies, the potential for growth and disruption is immense. Traditional business models will adapt or perish. Novel applications of the technology will emerge. For instance, consider the emergence of DAOs. Additionally, consider an NFT marketplace in which individuals own NFTs and can engage in p2p transactions. A marketplace to facilitate transactions clearly benefits buyers and sellers, but by paying royalties back to the original creators, those creators benefit from exchange and resale, and are incentivized to create more extraordinary blockchain technology products. All parties are invested in the community and the value of the asset ensures that trading is worthwhile.
At Agency Enterprise, we recognize that the Byzantine world of web3 can be daunting for entrepreneurs and perhaps even more so for large, legacy brands with established reputations. We guide multinational corporations, startups, and everyone in-between, ensuring their future growth in the web3 space. In the metaverse, offering utility to consumers and creators will drive affinity, traction, community engagement, and ultimately, revenue.
Fear of the new and unknown is understandable, but opportunities in web3 more than justify facing down that apprehension. For brick-and mortar retailers, often the most wary of novel technology, leveraging the metaverse can drive foot traffic, customer loyalty, and engagement in the metaverse. Through protocols like Proof of Attendance Protocol (POAP), brands are finally armed with the ability to deploy digital marketing budgets that actually drive dollar per square foot initiatives in the real world, and simultaneously create a digital space to gain traction, decreasing cost per acquisition (CPA) and customer acquisition costs (CAC) and increasing return on ad spend (ROAS) and lifetime value (LTV). Looking forward, perhaps the new two-way communication as enabled by a DAO, or babyDAO (think limited voting abilities) will spark a deeper connection to the brand that a storefront or ecommerce site cannot.
AE was founded with under 20 people back in 2016. Now, tracking to be over 200 at time of publishing, we’ve remained nimble enough to stay current and affect change on the bleeding edge of technology and large enough to tackle a project at the scale of an in-house minting platform like Token Runners.
NFT collections allow anyone to discover, own, and preserve unique moments all while experimenting with new personas which is definitely a marker of something evolutionary going on. We love the work that we do, as agents of progress. We take our work, but not ourselves too seriously. We launch products that help our clients and our users reach their web3 goals. The projects we undertake and the products we build are quite broad, but all have, if done right, the potential to increase human agency.
KEY SPEAKERS AT NFT LA CONFERENCE
Jevan Fox, executive vice president at AE Studio, during a panel at the NFT LA conference in Los Angeles, California, U.S., on Thursday, March 31, 2022. NFT LA is an integrated conference experience fused with immersive Metaverse integrations. Photographer: Bing Guan/Bloomberg via Getty Images
