In our first podcast episode, we sat down with Daniel Lenikus, the founder of Tokapi, an NFT marketplace and launch platform, to discuss both the challenges and success stories when it comes to traditional brands exploring Web3.
Custody in NFT's
According to Daniel, custodial solutions are important to onboard new users to NFTs because they provide a level of security and protection that is important to traditional brands and individuals who may not be familiar with the technology.
In a nutshell, custodial solutions allow third parties to hold NFTs on behalf of owners, which takes away concerns around the security and management of digital assets. This approach can make NFTs more accessible and less intimidating for new users, who already have to deal with the challenge what NFTs are. Making the onboarding process easier is essential for the wider adoption and growth of the industry.
Success Stories of Traditional Brands in Web3
We also talked about success stories of traditional enterprises leveraging Web3 and NFTs. On the one hand, Adidas partnered with existing Web3 companies and embraced the Web3 ethos, while on the other hand, Nike, acquired RTFKT and showed a long-term commitment to digital fashion. If you want to learn about other luxury and fashion brands diving into NFTs, you can read our blog article here.
When it comes to challenges, Porsche, faced some obstacle in its NFT project, but was able to learn from its mistakes and make quick improvements. We have written a blog article on the Porsche story.
Best Practices to Launch in Web3
In the last section of the podcast episode, we talked about what advice brands should follow when it comes to diving into the space of NFTs and digital collectibles. Daniel recommends that brands pick the right entry point, stay true to their company values, and embrace transparency when entering Web3. Co-creating with the community is also important to ensure that the brand is meeting the needs and expectations of its audience.
Visit Tokapi to learn more about how the platform can help your brand launch NFT collections and successfully navigate the transition to Web3.
Here is the full Interview with Daniel: