By Alex Tapscott

As we wrote in our 2023 outlook, Enterprise adoption remains a key theme and driver of Web3 adoption. Indeed, increasingly, Web3 tools are impacting the businesses of large public companies, like Microsoft, Square, Nike, and Paypal and many former start-ups are now themselves large public companies, like Coinbase. More and more, investors can gain exposure to this technology revolution by investing in a diversified portfolio of public companies that are using Web3 to transform their businesses and gain a competitive advantage in their respective markets and industries.

Enterprise adoption of Web3 is here. There are three big reasons for this. First, the technology is ready for prime time. It has grown by orders of magnitude in the last few years and now it is enterprise-grade. Second, the Ethereum “merge” eliminated any ESG concerns about using Web3 tools like smart contracts and NFTs. Third, smart firms have already been experimenting in this technology for years and now have the critical institutional knowledge to take the next step. Also, the bear market actually creates opportunities to build quietly out of the glare of the “new new thing” which is why we are seeing enterprise adoption actually accelerate.

Consider these three announcements from the past week:

First, Starbucks Brews Up Nostalgia with First Store Collection: Launches 2nd Paid NFT Project

Starbucks is, yet again, jumping into the world of non-fungible tokens (NFTs) with a new collection on the Polygon network. The coffee giant's latest NFT offering, The Starbucks First Store Collection, is a nod to the company's first location, which opened in 1971 at Pike Place Market in Seattle. The collection has 5,000 digital stamps priced at $100 each, with a limit of one per person. Starbucks is ramping up its Web3 initiatives, with plans to create a "digital third place" for its customers. By partnering with Nifty Gateway and Polygon, Starbucks hopes to offer exclusive content experiences and other benefits through NFTs.

Mastercard Music Pass NFT: Mastercard Launches NFT Project to Support Web3 Musicians

Mastercard has released non-fungible tokens (NFTs) for Web3 musicians to help boost their careers, as announced at NFT.NYC. The Mastercard Music Pass NFT is a digital collectible that is free to mint and enables artists to access the Mastercard Artist Accelerator program, providing them with AI technology and educational tools such as advice from Web3 mentors. Web3 musicians, fans and enthusiasts can collect the NFTs until the end of April. This move marks Mastercard's first combination of music and NFTs, although the company has previously sponsored music events and allowed cardholders to purchase NFTs with fiat through a partnership with MoonPay.

Nike Set to Launch Virtual Sneaker Collection on Its .SWOOSH Blockchain Platform

Nike is set to launch its first digital collection on its blockchain-powered platform, .Swoosh. The collection will offer digital images of virtual shoe boxes for $19.82, with each box unlocking digital versions of Nike's iconic Air Force 1 sneaker, first sold in 1982. Using everyday language, like "collectible" rather than "NFT," in promoting digital collections has become a trend among brands, with The Rolling Stones and Fox Entertainment following this approach.

Join Alex Tapscott and Andrew Young as they decode the world of DeFi with special guest Aleksander Larsen, COO and Co-Founder of Sky Mavis. Listen in as they discuss Aleksander’s intersection of gaming and Web3, experience with and learning lessons from Axie Infinity, exciting blockchain-based gaming applications, the response from large traditional gaming studios, the future outlook for Web3 gaming adoption, and more!

Sky Mavis is a blockchain-based gaming company that builds virtual worlds with player-owned economies and digital property rights. Their flagship game, Axie Infinity, is a popular NFT-based online video game that allows players to battle, raise, and trade creatures called Axies. Axie Infinity has facilitated over $3.6 billion in trades on its in-house marketplace and has 2.8 million daily active players, making it one of the most popular Web3 games to date. Aleksander’s responsibilities at Sky Mavis encompass finance, operations, legal, and business development. He also serves as the Secretary on the Blockchain Game Alliance’s Board of Directors. Prior to working on Sky Mavis, Aleksander worked in the Norwegian state, spending his free time playing video games and fostering gaming communities. He represented Norway in competitive tournaments for World of Warcraft 3 and Dota and ranked globally among the top 200 players for Dota 2.

Tune in to the 92nd DeFi Decoded episode to hear Alex, Andrew, and Aleksander discuss all things Web3, gaming, and Sky Mavis. What was Aleksander’s experience with Axie Infinity? How does Aleksander view the adoption of blockchain technology in the long run, and what impacts will it have on gaming? What are some exciting features of Web3 games that weren’t possible in non-blockchain gaming worlds?