Trends | Mid-year trends tune-up

May 30, 2023

Image credit: Vanessa Bucceri

At the start of 2023 Mojito made some bold predictions for web3 adoption this year. As June is around the corner, let’s see how we are doing...

🍃 The term ‘NFTs’ is replaced with ‘Digital Products’ 🟢 On track

More loyalty-focused programs are gaining traction (e.g. Starbucks Odyssey, Nike .Swoosh), new giants have launched memberships (e.g. Adidas ALTs) and major sporting IP has delivered 1m+ claims (e.g. ‘Inside the NBA' on TNT watch-to-earn program). Almost none of these global initiatives are using the term ‘NFT’s’, but rather things like ‘digital collectible.’

Every single loyalty program in the future will use digital tokens (NFTs) to capture, incentivize, and reward consumer interactions, and we will continue to see focus on loyalty points rather than the NFT tech and terminology behind it.

🍃 The Rise of Physical Asset-Backed Tokens 🟢 On track

A number of brands launch digital twins, NFC chipped products and there's significant growth in builders within tokenization of physical assets. Asset-backed tokens are being 'redeemed' for physical items ('Redeemables') with increasing frequency, from KITH x Invisible Friends campaign, Nike’s Cryptokicks to Avenged Sevenfold ticket access.

🍃‘Connect Wallet’ Across Major Websites  🟢 On track

There’s a shift towards brands offering token-gated accounts as secure user authentication, that's invisible to the customer. Instead of managing different accounts and password, with web3, customers are starting to connect a wallet to verify their membership status and gain access. Customers can get access to subscription-only content (e.g. TIMEPieces for TIME subscriptions) and potentially other future rewards (e.g. Mastercard Music Pass offering AI generated experiences).

🍃 Web3 Goes Web2.5 🟢 On track

Web3-native projects are exploring the transmedia franchise landscape to attract new ‘non crypto’ fans into their universes. e.g. Pudgy Penguins launched Toys on Amazon, and World of Women launched WOWGs Monopoly Game. Metaverse Web2.5 has seen major brand activations to scale traffic and DAUs (e.g. Roblox x Gucci x Vans and Coachella in Fortnite)

🍃EVM Chains Will Dominate Non-EVM Chains 🟠 Too early to call

Brands continue to choose Polygon and Ethereum for their web3 activations and loyalty programs as a clear winner. That being said, with the excitement of ordinals, Asprey Bugatti launched a few weeks ago with a Bitcoin NFT project. EVM chains have faired better in the bear

🍃The End of the 10k PFP Projects And Money Grabs 🟠 Too early to call

It seems to be the end as we know them. Web3-native 10k PFP projects solely focused on floor price and speculation, but yet to deliver tangible utility at scale, have struggled. Large scale NFT launches have been reframed. Nike .Swoosh is a new "community experience" that sold 50,000 on May 24th. Doodles is a "media franchise." Boss Beauties is a "media + entertainment brand." Deadfellaz is a "collection + metaverse brand." 

🍃Brand-Hosted Secondary Marketplaces 🟢 On track

Major brands (e.g. Sothebys, Amazon, Mattel) and bluechip NFT projects (e.g. Art Blocks, 9dcc) have launched Direct-to-Consumer marketplaces with enforceable royalties and an elevated user experience.

🍃More NFTs for DAO Membership Management 🔴 Few use cases

DAOs have fallen back in their promise to be the governance model of choice. Notable exceptions include the mighty Nouns DAO that have been funding wide ranging CC0 projects to accelerate the Nouns brand.

If you'd like to explore any of these use cases, contact us

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A Web3 Interview with Mercedes-Benz NXT

May 24, 2024

Learn more about the Mojito-powered ‘Era of Technology’ NFT collection.

Our latest partnership with Mercedes-Benz NXT, the Mojito-powered ‘Era of Technology’ NFT collection, is officially live!

Launched on May 21, the 780 collectible drop is now on sale until May 28, and you can go mint an NFT from the collection at this link.  

ICYMI in last week’s blog: each collectible is on sale at 0.08 ETH, including collectors’ discounts, and you can pay via ETH or your credit card. 

The drop also features a slew of features built by our web3 studio at Mojito — including our APIs, SDKs, and white-labeled, on-demand wallet creation — which powered the sale mechanics (including a unique discount feature) and made it super easy for Mercedes-Benz NXT to get its collection into the hands (and wallets) of its community. 

To continue spreading the Mojito x Mercedes-BenZ NXT gospel, we spoke with Sebastian Ihler, Co-founder and Head of Product 0xNXT GmbH (Mercedes-Benz’s web3-focused product studio), to learn a little more about what sparked the project, gain some insights for web3 brand leaders like yourself, and celebrate the onchain collection of stunning digital objects.

Let’s get into it. 

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Mojito Brought the Toledo Museum of Art’s Debut Web3 Collection to Market with 10,000 NFTs — and Zero Code

January 18, 2024

Learn how we helped the museum tell an essential cultural story through the power of digital art and community.

Mojito's technology breathes life into dynamic web3 experiences for brands. We simplify the complex backend, allowing the front end to effortlessly focus on the fun stuff – including sticky consumer engagement.

Our recent collaboration with the forward-thinking museum turned this vision into reality. Mojito worked with Toledo's team to orchestrate a digital art experience by Osinachi & Yusuf Lateef. Our community engagement portal enabled Toledo to provide a smooth minting process, hassle-free claims, turnkey community management and reporting for the museum. The result? A powerful drop of 10,000 NFTs.

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The Web3-ification of Credit Card Loyalty Programs

January 11, 2024

Visa's new web3 loyalty program is no accident.

Swipe (or nowadays, tap) your credit card, and earn points. A process that’s now commonplace has a lengthy history that can teach us more than a few things about customer loyalty — and its journey through technology. Let’s start at the beginning. 

From paper to plastic 💳

While the history of credit cards dates back thousands of years, things turned from stone to metal — and later paper and plastic — about halfway through the 20th century with the arrival of the modern credit card in 1950. Reportedly invented following a case of a forgotten wallet, The Diner’s Club Card (initially owned by Discover Financial Services before its acquisition by BMO in 2009) was the first multipurpose charge card credit card intended primarily for dining and travel expenses. 

The Diner’s Club was also the first to pair the concept of charging credit with fueling consumer loyalty through the inception of points. Through partnering with dining, entertainment, and later, travel entities (i.e., airlines, rental cars, and hotels), Diners Club cardholders paid a tiered annual fee to gain special perks based on how much money they spent. The greater the yearly fee, the greater the perks. 

About eight years following Diner’s Club in 1958, American Express entered the credit card industry with the world’s first international charge card, which initially had an annual fee of $6 (one dollar more than Diner’s Club). Shortly after, Bank of America and Mastercard followed suit. During this initial period, most credit cards focused on offering customers just that — credit — with loyalty and reward yet to take off.