[Short #9] Follow the $ pt. 2 + Netflix
Should these really be called 'shorts' lol
Alright, two topics today so let’s dig in!
Continuing on yesterday’s topic on who’s adding liquidity into the space recently, I focused more on the ‘who’. As in individuals (retail) vs. companies or funds (institutional).
However, there’s also the layer of ‘where’ that I didn’t cover.
Specifically, Asia.
Before jumping in, I want to call out that despite being Asian American, I am not well versed in what’s going on with NFTs in Asia. NFTs transcend geographic boundaries, but there are cultural boundaries I’m less familiar with so take this with a grain of salt.
That said, I came across this Twitter Spaces yesterday that intrigued me.
Observations from my end:
This space was bilingual! UNXD (luxury NFT marketplace) is US based so this Twitter space required the volunteer translators. I didn’t mind as this was a great opportunity for me to brush up on my Mandarin, heh.
D&G = Dolce & Gabbana. Yup, that D&G in the luxury fashion world. Remember my first short about LVMH? It’s not just them. Don’t get me started on what Gucci is doing in the space either. I have another topic to talk about! :)
You can’t tell from the screenshot since Substack doesn’t support video uploads, but of the listeners with NFT profile pics, a couple of notable projects showed up more often - Azuki and Dour Darcels.
What do these NFT projects have to do with Asia and high fashion?
Azuki - A NFT native project that has anime art style.
And this is what their merch looks like…
Italian quilted satin and Japanese ultra suede?
I don’t think I could even afford to read those words.
This isn’t your average NFT hoodie. This is something you’d rock to a nice dinner downtown and get compliments for.
Dour Darcels - A NFT project founded by NY artist, Craig Redman.
Are these the Minions’ long lost cousins?
Nope. They’ve collaborated with Colette, Louis Vuitton, and Ikea.
Point is, I think another sleeping giant from a $ perspective is still lying in wait. Maybe it’s because of different tastes in art style, or wanting established status (high fashion) vs. the homegrown creation of status (BAYC).
Or maybe these folks have been trading jpgs years before us Westerners have. 🤷♂️
Netflix
Whoo boy. I’m not here to talk about their earnings or them cracking down on account sharing. Uh…I have my own account…ANYWAY.
An interesting conversation came up in a Twitter spaces this morning about Netflix and NFTs.
No one knows what’s going to happen, but there’s a good chance Netflix will implement NFTs (NetFlixable Tokens? lol) as well.
The multi-billion dollar question is, how?
My stance on NFTs for non-Web3 businesses is this tech can help with monetization and retention.
Let’s take Netflix and Stranger Things (Season 4 next month!) as an example.
What if Netflix launched a 10k Stranger Things NFT collection that diehard fans would purchase for $300 and in return get:
Exclusive access to the show, whether it be early access or special content
Raffles to special Stranger Things activations, like their wildly successful Stranger Things Experience.
Merch. You know Netflix has merch, right? Raffles, surprise ‘merch airdrops’ to holders of a specific trait/character depending on what happens in the show.
Dynamic NFTs based on what happens to the characters in the show. Barb died in Season 1? Barb NFTs just got more exclusive.
Netflix gets a 10% royalty of secondary sales aligning incentives for the NFT holder and Netflix. The more value that the ST franchise brings and the larger the fanbase, the higher the value of the ST NFT.
Cancel your Netflix subscription? You’d probably want to sell your Netflix NFTs since you don’t benefit from them anymore. Oh ya, Netflix makes 10% off those sales ;)
Collecting NFTs from all your favorite shows that you binge? You probably are a little less incentivized to share your Netflix account that has your NFT wallet integrated…
Scale this across all Netflix shows and I think we got a new revenue stream, a more robust ecosystem, and reduced churn.
And don’t get me started with how they might integrate this into Netflix gaming :)
Someone tell Reed to read this.
Sent it to my friend who works at Netflix. Not quite Reed, but it’s something 💪🏻