EXCLUSIVE: As Major Brands Explore Web3, 'Expect NFT Bull Run Peak In 2 Or 3 Years'
Portfolio Pulse from Surbhi Jain
At the Benzinga Future Of Digital Assets event, experts discussed the potential of Web3 and NFTs going mainstream. Rarible's Alex Salnikov introduced RaribleX, likened to Shopify for NFTs, and highlighted partnerships with brands like Mattel. American Express's Charlie O'Neill emphasized the interest from Gen Z and millennials, and AmEx's role in facilitating brand interactions through tokenization. Notable partnerships include AmEx with Metalwood at the U.S. Open Golf and Disney's launch of an NFT marketplace with Dapper. The sentiment is that despite a recent downturn, the NFT market could see a peak in the next 2-3 years.
November 15, 2023 | 3:43 pm
News sentiment analysis
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NEUTRAL IMPACT
AmEx offered an exclusive discount on Lyft rides at the U.S. Open Tennis, integrating Lyft's services with tokenized digital assets.
While the partnership for discounts is positive, it's a one-off event and may not have a significant impact on Lyft's stock in the short term.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
AmEx's exclusive discount on Uber rides at the U.S. Open Tennis, through tokenization, shows Uber's involvement in promotional partnerships with digital assets.
Uber's involvement in the AmEx tokenized discount offer is a positive marketing move, but it may not have a substantial impact on the stock in the short term.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
American Express is engaging with Gen Z and millennials through tokenization and has facilitated NFT drops, indicating a strong interest in digital asset integration.
American Express's involvement in tokenization and successful NFT drops suggests a positive outlook for their digital initiatives, which could attract investor interest in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Disney has launched its own NFT marketplace with Dapper, featuring iconic characters, signaling its entry into the digital asset space.
Disney's launch of an NFT marketplace is a significant move into digital assets, which could generate excitement and potentially boost its stock in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Mattel is Rarible's biggest client, turning their IP into digital products, which could enhance Mattel's brand presence in the digital asset space.
Mattel's partnership with Rarible to digitize their IP could be seen as an innovative step, likely to be viewed positively by investors.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 80
POSITIVE IMPACT
RaribleX, described as the Shopify for NFTs, could indicate a growing trend of e-commerce platforms moving towards digital asset integration.
The comparison of RaribleX to Shopify highlights the potential for e-commerce platforms to integrate with the NFT market, which could be a positive signal for Shopify investors.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60