If 2022 was the year of web3 hype, 2023 will be the one where things get real.
So says Pierre-Nicolas Hurstel, CEO of web3 solutions platform Arianee whose brand partnerships include the Richemont Group, L’Oréal, Breitling, Paris Fashion Week, Moncler and more alongside technology partners IBM and The Sandbox.
Hurstel believes that brands are now concentrating on more concrete utilizations closely connected with physical product as opposed to digital only assets existing solely for the metaverse.
“The technology will be applied more strategically with brands looking at programs that can solve real issues,” he contends. “That are measured by business impact and not just by the size of the headline in the press.”
Case in point are on-chain digital product passports for luxury goods — timepieces in particular — which he says are regaining attention now the hype has abated. While Arianee already powers such certificates of authenticity for Breitling and IWC Schaffhausen, it has signed with three further global watch houses for 2023 plus a couple of major luxury fashion labels and a wine and spirits brand.
According to Hurstel, token based customer engagement — again linked to the ownership of physical product — represents another key strategy shaping 2023.
In sharing your email with a brand you’re sharing first party data, when you follow that brand on social media you become third party data but owning a token involves zero party data, he says. “That’s where the future of engagement lies.”
“You don’t want to be on thousands of databases where a platform is monetarizing your data in return of access to free services. You want to be in control.”
“Maybe the content is similar to elsewhere (the web2 CRM programs with which we are already familiar) but the engagement model changes radically.”
To date, around a million NFTs have been minted via the Arianee protocol (80% of which have been digital product passports). The number is set to grown exponentially this year to between five and 10 million.
Arianee’s CRM based projects have, thus far, included an NFT activation for Moncler associated with the brand’s Maya jacket and featuring artwork designed by Antoni Tudisco plus a collection of 10,000 free social tokens for L’Oréal owned YSL Beauty conferring access to ongoing brand initiatives.
As for the hype of 2022, it served an important purpose. “The good thing about last year is that people understood a new marketing or engagement system was available,” he concludes, “but now it’s about integrating these new tools into current business models so they have real impact.”