332: BIG Opportunities for Ecommerce in NFTs: Web3 Series Part 2

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ecommerce in nfts
 

 

We’re looking out to the (near) future at some very creative opportunities for eCommerce in NFTs. These ideas could help circumvent some of the margin pressure and economic challenges brands are facing today. 

This episode features Taylor Holiday, the founder of Common Thread Collective. Before running an eCommerce agency he had his own D2C brand so he brings a ton of knowledge from being on both the brand and the agency side of eComm business. Taylor is an NFT enthusiast and has some brilliant ideas about NFTs and their place in the changing sphere of eCommerce. 

In this fascinating conversation, you’ll learn a ton about NFTs — what they are and how you might be able to use them to combat margin pressure in your eCommerce brand.

Episode Highlights

  • 4:37 Taylors large business vision 
  • 6:23 The difference between running a brand and running an agency 
  • 7:30 Complexities around cash flow management & human relational problems
  • 9:40 The importance of your product to the success of your brand 
  • 11:20 What the hell is going on with Facebook 
  • 14:33 Quantifying what other brands are seeing in metrics right now
  • 15:19 The primary metric to care about post iOS launch 
  • 16:56 aMER (acquisition marketing efficiency rating): why it’s critical 
  • 20:07 Diversification is not primarily an advertising strategy 
  • 23:39 Where to start if you’re moving out of Facebook 
  • 25:05 Why Web3 is so exciting & what it means for current margin pressure 
  • 26:31 Margin innovation and opportunities in the metaverse
  • 32:04 Why you shouldn’t blow off investing in cryptocurrency 
  • 33:19 Examples of creativity with eCommerce in NFTs used to bring in fast cash
  • 36:16 Why NFTs are a better version of Kickstarter 
  • 37:35 Creating built-in affiliates with NFT holders
  • 38:44 The NFT as a community access token as well as an asset
  • 43:13 How to continue to add value associated with holding your NFTs
  • 47:34 Shopify beta opportunity for eCommerce in NFTs sold like a SKU 
  • 48:37 Using NFTs for access to special content or promotions 
  • 52:28 What’s just interesting and what’s actually important in the future of eCommerce in NFTs
  • 56:51 What % of Shopify stores might invest in NFTs next year? 
  • 57:56 Raising funds & engaging a target market with NFTs
  • 1:02:42 The calendar cleanse process that has helped Taylor manage his many priorities 

Links And Resources

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