Been doing this shit longer than some of you have been alive & I'll be doing it long after y'all gone.
Apr 20, 2023 • 42 tweets • 15 min read
1/42 @Nike officially entered the web3 arena this week with @dotSWOOSH. What does this mean for @RTFKT & what might Nike's web3 strategy look like going forward? Strap in as I break down this monumental new chapter that'll have reverberations across the web3 landscape. 🧵⏱️
Let's take a step back & remember how we got here in the first place. Nike spent years on the outside plotting their move, quietly amassing web3 related patents, until in Dec 2021 at the peak of the mania - perhaps fueled by a bit of FOMO - acquired RTFKT for an undisclosed sum.
1/18 @RTFKT's current predicament & PR/reputational problems are well documented.#CloneX holders feel abit lost & unloved. The root of the problem is losing the 3 key 'intangibles' that serve as the fundamental base for pfp projects: vibes, culture, dreams. A🧵 on "fixing" RTFKT:
To recap: in current "pre-mainstream" stage, pfp collections are more about vibes/culture/dreams than actual utility. Since the Nike deal,RTFKT has struggled here with corp takeover ruining the ownership "dreams", customer treatment ruining "vibes" & poor comms ruining "culture".
Feb 2, 2023 • 20 tweets • 5 min read
1/20 There's growing sentiment that @RTFKT's not focusing enough on #CloneX as god-tier of ecosystem. In reality OGs have received every drop, but RTKFT's taking a siloed approach in creating greater aggregated collection value. A🧵 to explain, why it hasn't worked & how it can:
Unlike a lot of other NFTs, RTFKT is a multifaceted brand aiming to provide EVERYTHING you could possibly want in a digital metaverse-ready identity. From gamified shoe leveling to luxury 'phygitals'. But that scope also means not everyone might want to participate in each part.
