Franklin Fitch, Head of Growth at Blockparty, sees the commodification of culture as the future of the internet.
Indeed, Fitch believes that a well executed NFT strategy could very well be a make-or-break opportunity for legacy brands as well as for the brands of the future:
“When you start to connect physical events, digital signaling, memes and collectibles all into one, I think you create this really superpowered sort of wave of commodification of culture and commodification of status and commodification of membership. And also combine that with all the crypto native benefits of global payment rates, easy ability to transact and send peer-to-peer so it becomes really liquid and moves quickly.”
As household name companies (such as Visa or Coca-Cola) begin to explore NFTs, Fitch sees an opportunity forming for brands to commodify “what culture is” for their brand and community. He related the growth in NFTs to luxury watches and their collectors, both of which are dep
