What terms in the Web3 space are we still going to be using in the future? Language matters, but do the terms Non-Fungible Token (NFT), Web3, or blockchain have longevity? Should they be used or not when onboarding the masses? Will it help or hinder adoption and understanding? Brian examines the recent Starbucks announcement about their digital collectible program. He breaks down the decision-making that goes into the language of crafting such a program and discusses the potential consequences of selecting some terms over others.
00:40: Brands are launching NFTs without calling them NFTs!
01:20: Starbucks use case, launching a digital collectible program in a bear market
05:30: Focus is on engagement in an immersive experience in order to collect “digital stamps”
06:45: Some programs will launch these programs using Fiat, not cryptocurrency.
08:15: People don’t always care about how the blockchain works; they just want it to work!
09:00: By not using cryptocurrency but using web3 technology, is this breeding confusion?
12:50: Are people any more prepared for the Web3 space after engaging in these programs?
19:20: The concern is with education and the onboarding of the masses
22:30: The concept of decentralization is a foundational concept but not always a focus
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