Why the Vayner3 rebrand needed to happen

Estimated read time: 3 minutes 45 seconds

Hi. This is Decentra Daily, where we make Web3 more digestible than the warm bowl of oatmeal you had for breakfast.

Today's agenda:

• Vayner3 rebranded from VaynerNFT (that's so 2021)

• Top NFT sales of the day

• Winners and Losers

We've got our eyes on Gary Vaynerchuk (Gary Vee) today, with VaynerNFT rebranding to Vayner3.

Vayner3 rebrand was necessary

VaynerNFT was too narrow in focus, and the abbreviation "NFT" has so many negative connotations attached to it, whether we like it or not.

By rebranding to Vayner3, Gary Vee and his parent company VaynerX have signaled they are much more than VaynerNFT and their associated NFT projects (VeeFriends, Book Games, etc.).

Vayner3 is widening its scope to encompass Web3. Vayner3 President, Avery Akkikeni said this about the rebrand:

“While NFTs may have been the word of the year in 2021, there are myriad ways for enterprises to engage in multidimensional Web3 strategies, anchored in driving tangible business outcomes,”

Echoing these sentiments from Avery, Gary stated:

“The world of Web3 is the next iteration of consumer behavior. The team we built at Vayner3 is here to guide the world’s leading enterprises and intellectual property owners through this space.”

As such, Vayner3 is becoming a consulting service for brands that are wanting to enter Web3.

Vayner3's first big client was Budweiser, and they have continued to expand with Web3 consultancy deals formed with dozens of Fortune 500 companies, which include PepsiCo, Anheuser-Busch InBev, Diageo, and Coinbase.

Gary Vee is a thought leader in Web3, and any brand that works with him will likely receive network effect benefits. VaynerMedia grew revenue by 31% to $188 million in 2021, so they know how to make $$$.

Web3 (working) definition: is an idea for a new iteration of what we know as the internet. Instead with a focus on decentralization, blockchain technologies, token-based economies, enhanced security, and verifiable digital ownership.

How Vayner3 will help it's clients

Gary and co. are here to help guide companies to grab the moment, own who they are, and tell their parents to f*ck off......well, we're probably joking about that last point, but with Gary you never know.

Vayner3 will aim to give brands multi-dimensional strategies for Web3, to drive tangible business outcomes. They will do this through:

• Loyalty integration programs

• Immersive consumer and digital experiences

• Meaningful philanthropy infrastructure

• Adopting cryptocurrency acceptance

Vayner3 will also put a large focus on educating businesses and consumers about Web3, to attract new clients and consumers.

These include IRL initiatives to spread awareness, at events like Art Basel in Miami, and SXSW in Austin...see you there?

If not Vayner3 will have you covered, with educational videos and whitepapers, made in collaboration with Reddit and NAS Academy.

Vayner3 is being prudent by looking at consumer behaviour in Web3, which is much different than typical consumer behaviour....because you can buy and sell easier than any other consumer market in history. As Akkineni puts it:

“We are all about consumer behavior — and that lives in culture. So as consumers’ habits and behaviors change — the way they interact with social media, digital assets, blockchain, and Web3 will change. We are going to be leading those efforts across the industry,”

Decentra Daily's Thoughts: Let's hope that Vayner3 can guide companies in providing value and utility to their NFTs and Web3 experiences, and not just teachings on how to squeeze as much money out of consumers as possible.

Keep an eye out for the continued partnerships that Vayner3 forms!

Top NFT sales of the day

1. Sorare 2021-22 Erling Haaland Super Rare - 225 ETH ($305,993.38)

2. @BoredApeYC #3283 - 133.7 WETH ($178,581.75)

3. @BoredApeYC #406 - 119.5 ETH ($159,614.06)

4. @artblocks_io Fidenza #759 - 117 ETH ($157,826.86)

Winners and Losers of the Day

The projects that have stood out to us the most in the past 24 hours, the good, and bad

Winner: STEPN Shoeboxes - Floor price up 51% in the last 24 hours (1.91 ETH → 2.89 ETH)

STEPN finally made it to Ethereum! Initially launched on Solana, STEPN is the big dog in the move-to-earn world. You use an app on your phone, and purchase a pair of NFT sneakers, earning rewards for walking/running/dancing, whatever. I’d just tie the phone to my dog and let him loose, but I’m a loophole kinda guy. STEPN has now launched “Ape Realm”, their ETH ecosystem and they’re trying to get that sweet Bored Ape money, giving a free pair of sneakers to Ape holders to join the ecosystem. Don’t sleep on this one, they got huge running on Solana, wait til the ETH maxi’s get a hold of this.

Loser: CubeX Official NFTs - Floor Price down 33% in the last 24 hours (0.3 ETH → 0.225 ETH)

Honestly looks like a well-thought-out project. Cube-based PFP avatars will be your ticket to the CubeWorld metaverse. They’ve got an ambitious 8-phase road map. They’ve got 3 P2E mini-games coming, with holders getting greater rewards than non-holders. And a goal is to create a decentralized social media platform. It does look like they had some issues/delays with their mint, and the public mint was paused briefly. Still, I’d keep my eye on these guys as if they can deliver they should have something solid here.

Headlines of the day

• Old Navy Licenses BAYC NFT for Latest T-Shirt Release

• NFTs have the potential to become media companies, Rarible co-founder says

• Web3 dominates venture capital interest in blockchain industry in Q2 2022

Disclaimer: Nothing in this article/newsletter should be considered financial advice. The purpose is to inform readers of the current trends and news in the web3 space. We encourage every reader to do their own research and not act upon information put forth by Decentra Daily.