Episode #101: Onsite at Web Summit Rio with Yat Siu

Brazil Crypto Report

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Episode #101: Onsite at Web Summit Rio with Yat Siu

Animoca Brands co-founder gives a masterclass on how Airdrops, nemecoins and NFTs will transform the relationship between brands and customers

Aaron Stanley

May 21, 2024

Transcript

Olá pessoal!

For this special episode I’m joined by Yat Siu, co-founder and executive chairman of Animoca Brands.

Animoca Brands is a pioneering game software and venture capital company that has invested in over 450 projects and supported major brands like The Sandbox metaverse and Bored Ape NFTs.

In this conversation — recorded onstage at Web Summit Rio — Yat provides a master class on how crypto-native concepts like digital ownership, NFTs and airdrops are transforming how brands across both Web2 and Web3 are marketing and consumer engagement.

Yat articulates these concepts probably better than anyone else out there right now. Honestly, it’s hard not to be bullish on this stuff listening to him talk about it.

Here are some key takeaways from the episode:

While 2021 was full of hype around NFTs, 2023 has seen the actual building and emergence of real Web3 applications and use cases. As an example, major brands like Starbucks, Nike and Adidas have experimented NFT loyalty programs.
In Web3, users become stakeholders and members by holding tokens/NFTs from brands. This allows companies to build direct relationships and true loyalty with customers, rather than renting attention through ads.
Over $21 billion has been paid directly to users via token airdrops in Web3, making it the most novel user acquisition tool of our time.
Successful Web3-driven brand campaigns need to give customers ownership and upside through airdrops and tokens, not just discounts. Starbucks missed this by treating their NFTs as just digital membership cards.
Web3 technologies allow provable ownership that lets brands accurately identify and market to their true customers.
Yat believes Web3 standards will inevitably take over, just as the open internet displaced legacy media and platforms. The value flows to users are too compelling to ignore.
Why memecoins will eventually come to be recognized as powerful brand engagement tools.
Yat’s advice for builders in the space, particularly those in Brazil and Latin America.