Blockcamp Brief (Issue #1)

Hello and welcome to the inaugural edition of the Blockcamp Brief! In this issue, I spotlight a post from Variant Fund on potential web3 advertising models, an exciting update from the leader of web3 social, a massive announcement from Chainlink, the annual report on the state of crypto from Consensys, and lots more. Let’s dive in!

🔦 Spotlight

An On-Chain Model for Web3 Advertising

“The open nature of crypto protocols breaks down traditional platform business models that rely on siloed data and user lock-in. Core elements of the web3 advertising stack are already emerging, including advertisers, ad protocols, marketplaces, and applications. As crypto platforms search for viable business models, the advertising model sits there, waiting patiently for its inevitable adoption.”

In this piece, Mason Nystrom of Variant Fund articulates three emerging business models in the web3 advertising landscape. Among the most interesting in my opinion is the tokenization of ads, or as Mason describes it, “ads as an asset class”.

In this model, ads on a platform would be allotted a specific placement and time/duration within the platform in which the ad is served. The ads would then be tokenized and distributed via a primary sale by the platform using a fixed price, auction, or any other pricing mechanism they choose. As the ads are tokenized, a secondary market can emerge allowing holders to buy and sell the ad space at their discretion, with the platform continuing to earn revenue from royalties on the transactions. The economics might function much like real estate does, with value accruing to holders of the asset as the location (platform) increases in popularity.

There are of course pros and cons to pursuing this kind of model for a platform instead of the traditional approach, but it’s likely only a matter of time before we see them explored more fully.

👊 Quick hits

• The web3 social layer Lens just launched v2 of their protocol, with a number of interesting updates. Notably, they’ve introduced a feature called “open actions” which allows users to enable external smart contract actions directly within any Lens application. This includes on-chain voting (e.g. for a DAO), buying/selling NFTs, ERC-20 transactions, and more. If you haven’t explored Lens yet, I definitely recommend doing so as they’re the clear frontrunner in web3 social at the moment.

• Chainlink just announced the launch of their Cross-Chain Interoperability Protocol (CCIP), enabling the execution of transactions across multiple chains. The launch includes compatibility with Ethereum, Polygon, Optimism, and Avalanche today, with more chains rolling out in the near future. While not the most sexy topic on the surface, the implications of this step cannot be overstated. I’ll likely dive into this much deeper in a future newsletter.

• Lifestyle apparel brand Madhappy partners with Moonpay to launch their private membership rewards program.

• Consensys, the company behind MetaMask, Infura, and other critical ethereum applications and infrastructure, published their annual Global State of Web3 report. From the report: “Despite global awareness of cryptocurrencies (92%), only 8% of respondents consider themselves to be very familiar with the concept of web3, which highlights a disconnect between public perceptions of web3 and its potential as a solution to issues around privacy, identity, and digital ownership on the internet today.” Yup.

• Interesting piece on the integration of digital and physical goods by Nichanan Kesonpat of 1kx. “Chip technology coupled with on-chain programmability gives wallet-like abilities (e.g. token-gated access, signing, and asset ownership) to any physical object, unlocking end consumer experiences that were not previously possible.”

• Speaking of digiphysical, Puma teamed up with Roc Nation to create the RS-XL “Mixtape Evolution Pack”, which come with an embedded chip in the tongue of the shoe that provides access to exclusive digital content depending on the colorway. Aesthetics aside, I think Puma is onto some interesting things here.

🐦 From the world of CT

🔨 For your toolkit

In this section I’ll be highlighting a web3 tool that’s of interest to me as it relates to the modern marketer’s toolkit. Today, that tool is Holder. Holder is one of a handful of emerging companies positioning themselves as web3 CRM and marketing automation platforms by merging first party and on-chain data into a centralized user profile. While the value of on-chain data is somewhat minimal for companies outside of crypto today given the nascent user base of web3, this will change as more and more social behavior and commerce move on-chain in the future.

🌐 Web3 Marketing Roles

• Product Marketing Lead - Magic Eden (US - Remote)

• Social Media Lead and Producer - Metaversal (Remote)

• Community Lead - Superform (Remote)

• Digital Marketing Manager - Lightspark (Los Angeles, CA)

• Community Marketing Manager - Solana Foundation (Remote)

• Product Marketer - Coinshift (Remote)

• Head of Brand Marketing - Enjin (Chicago, IL)

• Marketing & Communications Lead - Osmosis Labs (Remote)

• Growth Marketing Manager - Genies (Los Angeles, CA)

🔗 Let’s Link

That’s it for today! Be sure to follow Blockcamp on Twitter and subscribe to the Blockcamp newsletter if you haven’t already. I’d truly appreciate it if you’d share this with any of your friends who may find it valuable as well 💚!

Until next time….