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Real-World Web3 - Evolving and Expanding

The power of Web3 is being felt across a variety of industries, and it’s becoming more and more practical, tangible, and, most importantly, valuable.

From automotive to finance to gaming, brands, and enterprises are finding new ways to leverage blockchain, tokens, and decentralized tech to create memorable customer experiences and operational efficiencies.

In this edition, we’ll explore how BMW collaborated once more with the Bored Ape Yacht Club to deliver a clever reward for some loyal members.

We’ll also take a deep dive into the world of B2B payments, where giants like PayPal, EY, and Google Cloud are tapping into the power of stablecoins and blockchain to streamline processes and reduce friction.

Lastly, we’ll examine the latest trends in Web3 gaming, specifically on Telegram.

LFG

BMW x BAYC:
The Bored Ape Bimmer Club

Last week's edition’s final segment was about Škoda’s strategy for the launching of their new model.
The “Web3 part” of it included a POAP that was given to the live-stream audience during the car’s world premiere.

We finished that part with this: “It may end up being “just” a collectible - which is already a great use, or the company can decide to create experiences, gifts, or any other action directed to these people”.

Keep this information in mind as we keep moving.

At ApeFest 2023, BMW collaborated with the Bored Ape Yacht Club (BAYC) - arguably the world’s most famous NFT project - bringing something entirely new to the intersection of Web3 and the automotive industry. Attendees had the chance to engage in a one-of-a-kind customization experience of a BMW i5 model, blending luxury and community in a way that few brands have dared to do before - and we talked about this initiative in edition #14.

As part of this initiative, participants were given a special POAP (Proof of Attendance Protocol) to mark the event. But this token ended up being more than just a digital souvenir. This year, BAYC announced that the 227 POAP collectors were now the founding members of the exclusive “Bored Ape Bimmer Club”.

Members of this club are not only treated to digital perks but also physical rewards. Each member received a unique iron-on patch as a nod to their status in the community, and they’ll also have access to exclusive BMW-branded BAYC merchandise at ApeFest Lisbon 2024 (which is taking place this weekend by the way).

By combining blockchain-based digital tokens with real-world experiences and rewards, BMW (and BYAC) reinforce their commitment to fostering community loyalty. Like we said about Škoda last week, it's a simple, yet meaningful move that brings a car manufacturer closer to this “new” world, this time leveraging the BAYC reach in an interesting, clever way.

PayPal + EY + Google Cloud:
Revolutionizing B2B payments with Stablecoins

The world of B2B payments is ripe for disruption, and a powerful collaboration between PayPal, EY, and Google Cloud is making some noise.

By leveraging Coinbase Prime and stablecoins like PayPal USD (PYUSD), these corporate giants are taking their financial operations to the next level. As we have been saying for a while, blockchain, and crypto are beginning to reshape how businesses handle cross-border payments, treasury management, and liquidity.

In a recent announcement, PayPal confirmed that it successfully used PYUSD to settle invoices with EY through its SAP ERP system, utilizing Coinbase Prime as a custody platform. This not only sped up payment processes but also reduced transaction costs.
Stablecoins allow businesses to settle payments instantly and globally, creating efficiencies that legacy financial systems can’t compete with.

Google Cloud is another major player in this space, adopting Coinbase Prime to offer flexible, real-time payment solutions to its partners. By integrating digital currencies into their treasury and payment systems, these companies are setting new standards for how large enterprises can operate with greater speed and flexibility in a 24/7 global economy.

Again: “An increasing number of Fortune 500 companies are approaching Coinbase to explore crypto payments. Many are quickly moving from proof-of-concept exploration to full adoption”

—>

“Many are quickly moving from proof-of-concept exploration to full adoption”

In practical terms, these are some of the key benefits:

• No hidden fees or extra international banking charges.

• Super fast: Forget those X-business-day processing times,

• Stablecoins are pegged to fiat, which means you (the company) do not have to deal with assets’ volatility.

See, Web3 is not just about buying memecoins 😁 (and nothing wrong with buying those - I got some)

Telegram Games in Q3 2024:
Diving into the data

Gaming (including Web3 gaming) is something we have talked about a lot in The Wild West of Web3.

As the industry continues to evolve, Telegram has emerged as one of the main players in this space. A recent Q3 2024 report from Helika provides some eye-opening insights into the trends shaping the platform’s gaming ecosystem, with increased engagement, wallet activity, and regional diversity driving its growth.

One of the standout metrics from the report is the surge in NFT activity on Telegram: The number of unique wallets interacting with NFTs within Telegram games jumped from 200,000 to over 1 million in Q3, with around 600,000 wallets actively engaged on a daily basis. This represents a threefold increase in activity, indicating that players are not just collecting NFTs - they’re using them in meaningful ways within games.

Player engagement is also on the rise, with session lengths growing from an average of 2.8 minutes to 6.7 minutes. This increase can be attributed to improvements in game design and a broader variety of genres available on the platform. Players are seeking out more complex, immersive experiences, and Telegram developers are stepping up to deliver.

→ Yes, there’s a long way to go before we can say “Oh, there are tons of amazing Web3 games”, but the numbers do show that an evolution is happening.

Another intriguing finding is the regional breakdown of Telegram’s gaming audience. While Asia and Latin America dominate much of the Web3 gaming landscape, Telegram sees a different trend, with 55.91% of its players based in Europe. This geographical shift offers valuable insights for developers looking to tailor their games to specific audiences.

The diversity of game genres on Telegram is also expanding. Developers are experimenting with simulations, RPGs, puzzles, and action games, reflecting the growing demand for varied gaming experiences. This genre diversification suggests that Telegram’s gaming ecosystem is maturing, offering both casual and hardcore gamers something to enjoy.

If you want to read more about the reasons why Telegram might become an important bridge for (Web3) mainstream adoption check our editions #50 and #51.

See you soon.

#LFGrow
Diego Borgo