SXSW & NFTs Forming Brands
It was a non-stop, action-packed weekend. As soon as the wheels touched down in Austin, TX, the presence of NFTS at SXSW was everywhere. With many projects showing up to support their communities, I expected it to be just as crazy as Art Basel, which I attended last December. I was not disappointed.
The NRN team met tons of interesting people and saw many familiar faces from Art Basel; this is the power of these online communities. Each of these NFT brands are forming a community of like-minded people, and the farther they progress, you see which type of people gravitate to each kind.
I saw a few NFT projects during this weekend event and wanted to talk about each one. The first project was Doodles, and they were the most impressive. The project founders have created something unique and full of imagination; it reminded me of Dr. Seuss.
By focusing on building with general mass appeal for children and adults, we can see a large number of users that could be interested in their brand. The line to get into the activation was over 2 hours for non-holders, and there were many awestruck gasps once they got inside. Here is a video recap from the team that encapsulates the feeling of the event, and you can listen to our podcast with one of the founders, Evan Keast.
The next event that I wanted to talk about was the FLUFworld party. This was again exceptionally well put together, and no detail was missed. FLUF is known for the 3D rendered rabbits, and they have been building a whole ecosystem. With expansions with Party Bears and Thingies plus EDM music events at Art Basel and SXSW, they have executed everything well. The SXSW activation had three giant domes with 3D rendered artwork and visuals displayed, and well-known artists such as Dillon Francis and Mija played Saturday and Sunday. The community surrounding the FLUF ecosystem was like a traveling rave scene. Overall, very impressive, and I regret selling the FLUF I owned.
The last was a picnic in the park with the Dippies NFT project. Dippies recently launched and have a thriving community, but I had never heard of them before this. I was impressed that the party was well put together for launching 11 days prior to the event—a more laid-back scene with music and live paintings. Keeping with the hippie vibe, they had hard kombucha and VW vans; my wife and I enjoyed it so much we bought a Dippie on the recent dip.
As the NFTs ecosystem expands, these individual communities attract their respective members. These NFT projects finally show that it isn’t just a picture but a brand that specific communities resonate with. Over time I think the value of this type of membership will become recognized and more desired as a result. The addressable market of each project becomes large and more prominent as more people discover these communities. We will see how it plays out, but finding tight-knit communities with solid teams and output can be advantageous, as we have seen from multiple NFT projects (Doodles, Bored Ape Yacht Club, Gutter Cat Gang, World of Women, and many others) as of late. Until that time, I will continue to attend these events and enjoy the perks of owning these projects because they are a spectacle to witness. Upcoming events include NFT NYC and Art Basel, and I am excited to see which projects bring their A-game.