Mozverse: Why Major Brands Will All Shun the Existing NFT Marketplaces in 2023

No one marketplace can offer everything that a consumer might want. Take Walmart for example, its a megalithic marketplace that offers every product under the sun. But they offer nothing to major brands wishing to enhance the customer experience of buying their product.

OpenSea and Rarible are like the Walmart of the NFT world. They leave global brands wanting more from OpenSea that they simply cannot deliver on.

The ability for brands like Nike to tailor the customer journey of buying a Nike NFT is limited and insufficient on OpenSea. For that reason, major brands will shun existing NFT marketplaces and build their own in 2023.

Custom NFT Marketplaces

Every company has a Facebook page, but its their domain name thats their real pride and joy. The ability for brands to customize their Facebook page is throttled by Facebook. But brands can take their website in any direction they want, tailoring every aspect of the browsing experience.

Mozverse uses this same rationale to give companies the ability to easily establish their own Web3 presence. Think Shopify for NFTs. Companies selling their products on Amazon are lumped in with every other merchant. But companies that opt to create a store with the help of Shopify get to tailor the eCommerce experience from end to end.

Pepsi NFT Drop was a Flop

As major brands experiment with offering NFTs to their customers and fans, theyre bound to make some mistakes. For example, Pepsi dropped an NFT collection called Mic Drop on December 14, 2021. The NFTs were given away to minters all users had to do was pay the ETH gas fees.

Pepsi MicDrop NFTs have since done $7M worth of volume on OpenSea, with the majority of the activity taking place in the first 3 months after the drop. As one op-ed points out, their use of NFT lingo and attempt to capitalize on the trend of NFTs felt ingenuine. This begs the question, how do major brands like Pepsi and Coca-Cola, Nike and Adidas, or Gucci and Ralph Lauren, enter the NFT space?

A Whole Web3 Presence is Required

The answer is that these companies need to be constantly engaging their audience through the NFTs theyve launched. NFTs arent just about launching a collection, theyre about using them to create and offer unique experiences to brand followers. A full blown Web3 presence is required for each brand that decides to create a Web3 offering. This might mean exclusive bonuses for NFT holders such as tickets to conferences or events. Its really up for the brand to decide.

The point is that a Web3 presence is more about constant engagement, marketing, and incentives. The way to do this is through a customized marketplace in conjunction with a well fleshed out Web3 and metaverse strategy.

Major Brands to Build NFT Marketplaces in 2023

What we can learn from 2022 is that major brands wish to enter the NFT space, but dont necessarily know how. They got a taste, but now they want the whole pie. For that, brands will need to work with insiders that have been with or following the NFT industry since the very beginning.

This is exactly what Mozverse is offering international brands itching to create NFTs. End to end establishment of the companys Web3 presence coupled with a customized NFT marketplace.

Team Behind Mozverse

The Cofounder and creator of Mozverse is Danny Mozlin. Danny and Mozverse Cofounder Zach Hirsch lead the team to develop the products and offerings of Mozverse. Danny is a technology entrepreneur with hands in a number of sectors, including augmented and virtual reality. Danny combines his knowledge of cryptocurrencies and Web3 with experience working with virtual spaces to create a unique offering for companies entering the metaverse. With the help of a team of more than 20 developers, designers, and marketers, Mozverse is filling a gap in the industry by helping brands create and establish distinguished NFTs in the marketplace.