Unsydicated Brief #1: Below are the takeaways from two important events of the week! Enjoy and please share your feedback directly with me, on Twitter, or in the comments!
1. The Hundreds: Fashion for The Real-World & The Metaverse
From The Hundreds to The Thousands: The Hundreds – which is I’ve now realized a west coast brand that my east-coast-born-and-raised fiancé has never heard of – is entering the NFT world. The California culture – skater, surfer, lifestyle – brand released the Adam Bomb Squad (ABS), a set of 25,000 unique avatar NFTs that sold out this past Friday in 40 minutes.
Streetwear with perks: Perhaps one of the most interesting aspects of the ABS (Atom Bomb Squad) NFT design is that these NFTs come with various perks including:
- An exclusive Adam Bomb Squad T-shirt per NFT
- Early access to The Hundreds drops
- ABS exclusive drops
- ABS exclusive events (physical and metaversal)
- “Fast-lane” privileges at warehouse sales (whatever that means, I’m not fashionable)
Unlike other NFTs without utility, The Hundreds has created NFTs that provide early access and exclusivity perks that will bring value to their owners.
People over product: The Hundreds even announced plans to add “social token functionality” in the future, however, it’s unsure what that will entail. Additionally, The Hundreds claims it will provide NFT owners the ability to earn off The Hundreds clothing that features the ABS NFTs which would be a gamechanger. While the specifics weren’t released, this is the type of 10x improvement in consumer experience that the fashion world desperately needs.
The Takeaway
The next level of brand ambassadors: Dozens of companies will notice companies like The Hundreds make millions off of their NFT sales and find ways to reinvigorate their communities. Most importantly, aligning culture with financial incentives – earning money based on NFTs – will create a whole new culture of Streetwear and take the concept of brand ambassadors to the next level.
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2. Apple’s Monopoly Takes A Small Step Backward For Mankind
Cutting the Apple: In a recent class-action settlement, Apple announced that the tech giant will be changing a few of its App Store policies, specifically those around how developers are able to monetize.
RIP your inbox: Now, developers are legally allowed to monetize off of Apple’s app store by emailing their customers directly and directing individuals to pay elsewhere (e.g. Not in the App Store). This means that applications will be able to undercut Apple’s fee and also means you’ll be getting a plethora of emails from all your most-used iOS apps.
What did we win?: A few other benefits came from the settlement including:
- Apple agreed to keep a lower commission (15%) for companies making under $1 million over three years.
- Apple will try and aid new apps in the App Store to get discovered by changing the search algorithm.
- Developers can now set the price for their apps($4.20) rather than near-whole dollar amounts ($3.99).
The Takeaway
Convenience still wins: Even if developers are able to monetize on other platforms and sidestep Apple, developers will ultimately still lose a portion of sales to individuals who prefer convenience or don’t want to take the added step of going to another site to make a purchase.
An Epic moment in the making: The recent settlement was for developers making less than $1 million. The real showdown between Epic Games and Apple’s App Store will come from their suit which is set to be determined later this year. The official decision – positive or negative – will undoubtedly be a landmark case in the future of the App Store and Apple’s monopolistic practices.
Curated Content: What I’m Reading
- Why Facebook won’t build an open and interoperable metaverse.
- A feel-good (make you feel dumb) story about a 12-year-old kid who created weird whales and made $400k.
- The Metaverse Index 101 by Metaportal.
- Great thread by Darren Lau on angel investing vs joining a fund.
- The Street Doesn’t Really Exist by Bobby Hundreds.
Special thanks to my brother Gunnar Nystrom for his feedback and edits!