The document discusses the misconceptions, educational needs, and potential of NFTs and the metaverse, highlighting the current skepticism and confusion surrounding these technologies. It emphasizes the lack of utility in current NFT applications while advocating for consumer education and projects that offer true value. The author anticipates a growing engagement in the metaverse, suggesting it can improve productivity and social interaction, with brands needing to establish clear principles for navigating this evolving landscape.

1. Feed my curiosity::
NFTs and the Metaverse:
Debunking, educating and inspiring you
around these mind-boggling spaces

2. Takeaways:
1. Inform & educate you
2. Inspire you

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Hi! I am James.
● Senior Brand Strategist @ Jellyfish
● “NFT creator” on OpenSeas (but failed owner
as the gas fees were too high)
● Writer of two recent thought pieces on NTFs
and the Metaverse
● A real curiosity and interest in what’s
happening in the world of Web3 (and still trying
to get my head around it all) and how it will
impact the world of brand and advertising

4. Observation::
NFTs and the metaverse offer new opportunities and experiences for
brands (though the full realisation is still to be seen!)
However, we are seeing a lot of hype, bandwagon jumping and money
grabbing in this space that is eroding trust (particularly with NFTs!) .

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Muddy-NFT-waters.
Seems to me there is a
real lack of value-add or
utility being created in
many NFT applications
that is eroding trust
Tidio global survey of 2,000 people

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Murky metaverse .
Scepticism and
uncertainty how a
virtual and mixed
world may look
Attitudes towards the metaverse
2022

7. Opportunity::
Support this space with education and guiding
principles for any projects and campaigns that
bring real added-value and utility to consumers.

8. © 2021 Jellyfish Digital Group Limited Confidential & Proprietary
So - first, what are earth
are we talking about?:

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NFTs; WTF?!.
42%
of UK consumers have
no idea what an NFT is
(YouGov 2022)
Understanding of this space is becoming more informed
over time - but still has some way to go
Sept 2021 March 2022

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Better understanding? (or cooling off?!).

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NFT - in a nutshell…
NFT stands for non-fungible token; if something is
non-fungible, it’s demonstrably unique and one-of-a-kind.
When you exchange money for one of these tokens, you’re
buying a specific position on a blockchain (if you think of a
blockchain as a big decentralized database, your “token”
represents a line in that database).
Pieces of digital media can be linked or associated with
specific points on a blockchain. For example, if you take a
photo of your cat, you can have that photo “minted” as an
NFT, which essentially involves paying a company to link
your image to a unique spot on a blockchain.
You can then sell ownership of the cat photo to someone
else. The buyer won’t be purchasing your photo, exactly, but
rather the unique digital token that represents the
blockchain position associated with that photo.
An NFT – non- fungible
token – is a digital asset that
represents a real-world object
like, for example, the Charlie
Bit My Finger video that sold for
£500,000 back in May.
NFTs are bought and sold
online, frequently with
cryptocurrency, and are
generally encoded with the
same underlying software as
many cryptocurrencies.
A non-fungible token (NFT)
is a non- interchangeable unit of
data stored on a blockchain, a
form of digital ledger, that can be
sold and traded.
Types of NFT data units may be
associated with digital files such
as photos, videos, and audio.
Because each token is uniquely
identifiable, NFTs differ from
blockchain cryptocurrencies,
such as Bitcoin.
“
”
“
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“
”
Role to play to help debunk and explain simply but not wrongly define either

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Predicting the future of NFTs.
Coinbase cofounder Fred Ehrsam drew parallels
between the rise of cryptocurrencies and the
dotcom boom of the 1990s.
“I go so far as to say that 90% of
NFTs produced, they probably will
have little to no value in three to
five years. You could say the same
thing about early internet
companies in the late ’90s.”

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NFT 2.0 (...already?!).
1.0
The NFT era started with the Bored Ape
Yacht Club, CryptoPunks, and other
NFT 1.0 projects that were nothing
more than pictures on blockchains.
2.0
NFT 2.0 can do everything that NFT 1.0
cannot;
Interlinking - layered features
Upgradability - future modification
Dynamism - modify associated NFTs

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Meta-what?!.

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Meta-who?!.
In her recent presentation at SXSW, Amy Webb, professor at NYU Stern School of
Business and CEO of the Future Today Institute explained;
(YouTube SXSW 2022)
Virtual Reality
Mixed Reality
Wearable Tech (Fitbits etc)
Smart Glasses

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‘Platforms to perform’.
Whilst the concept of the metaverse can be mind-boggling to grasp, there are a
number of metaverse platforms that are emerging and establishing themselves.
These different spaces offer brands a platform to activate and engage with
audiences (much like how you might leverage a social platform for example.)

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Predicting the future.
2BN
people worldwide by 2026,
about will spend at least one
hour a day in the metaverse to
work, shop, attend school,
socialize or consume
entertainment.
McCann Worldgroup 2022
23%
of US consumers familiar
with the metaverse
describe the metaverse as
“a really exciting way to
play and socialise.
Ipsos 2022
44%
of global employees are
willing to work in the
metaverse and believe it
could improve productivity.
Lenovo (2022)

18. In the wild:

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The good. The bad. The hmmm....
Raramuri - Metaverse Marathon
Merging worlds
Carrefour - The Healthy Map
New audience opportunities
�� ��

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The good. The bad. The hmmm....
��
Forbes
Bandwagon-jumping
Meta
Underwhelming
��

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The good. The bad. The hmmm....
STEP’N
Gamification
The Currency
Real vs virtual ownership
��

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The good. The bad. The hmmm....
Bored Ape Yacht Club - The Power of IP
Dubbed “Bored & Hungry,” the BAYC restaurant will launch as
a pop-up April 9 in Long Beach, California. The smash burger
concept will feature packaging and employee uniforms
emblazoned with Bored Ape Yacht Club imagery. The menu at
Bored & Hungry will be based around the Trill Burger, a
multi-patty smash burger with caramelized onions and
special sauce.
(Hypebeast 2022)
��

23. Embracing this new world:

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Principled navigators.
Making the case for a set of principles / checks that can
guide and help navigate decision making in this space.
● What is the utility / value add for the audience?
● Why is this relevant to your brand?
● How does this drive to some kind of ROI, next step
etc, even qualitatively / reputationally?
● What is the learning / education opportunity?

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A few useful resources.
The Drum -
Inside the Metaverse
Weekly round-up
email
NFTs for Newbies
The world of NFTs
for dummies
AdAge
Updated blog of
new NFT projects
Welcome to the
Metaverse
Speaking on the
latest and greatest
projects in this space

26. © 2021 Jellyfish Digital Group Limited Confidential & Proprietary
Jellyfish
Mar 2022
Thanks for your time :):