Bart Hillerich

Customer acquisition continues to become increasingly competitive, complex, and expensive for brands working to market their products successfully. The result? A global marketing arms race that has seen marketing budgets significantly grow in recent years, as evidenced by the following quick data highlights:



<ul class="wp-block-list">
<li>According to the 2022 edition of <a href="https://cmosurvey.org/wp-content/uploads/2022/02/The_CMO_Survey-Topline_Report-February_2022.pdf" target="_blank" rel="noreferrer noopener">Deloitte’s annual CMO survey</a>, marketing budgets will comprise roughly 13.6% of a company’s total budget in 2023, up 3.9% from the two years prior.</li>



<li>According to <a href="https://www.futuremarketinsights.com/reports/digital-marketing-analytics-market" target="_blank" rel="noreferrer noopener">Future Market Insights Global and Consulting Pvt. Ltd.</a>, the global digital marketing analytics market stood at $4.2B in 2021 and is expected to reach $27.2B by 2031.</li>
</ul>



Despite increasing spending, there is still significant data left out of the customer acquisition equation due to technology limitations. How does Starbucks know if a consumer visited one of their Target locations because they were shopping for dog food instead of a new video game? How does a company like Nike know how often purchasers of its latest running shirt are actually wearing it to run?



Today, it’s impossible for brands to answer these questions—impossible, that is, until they apply blockchain technology.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">The future of business is not online or in-store. It&#39;s an evolution where brands use NFTs to seamlessly integrate every customer touchpoint, both digital and physical. Don&#39;t believe me? Thousands of brands are still struggling to strike a balance between their controlled…&mdash; Elli (@ellihandro) <a href="https://twitter.com/ellihandro/status/1683609396172005378?ref_src=twsrc%5Etfw">July 24, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Central to this evolution is a new single-wallet approach to crypto ecosystems. Poised to significantly improve crypto&#8217;s user experience, it has the potential to unlock a hidden world of superior consumer data and interconnected brand ecosystems that, while still under development, will forever change customer acquisition and how brands coexist.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<h2 class="wp-block-heading">On-chain data revolutionizes how brands attract consumers</h2>



Blockchain implementation will significantly ease the burdens of customer acquisition and bring on-chain data to the forefront of marketing efforts worldwide, enabling brands to far better cater to consumer needs. On-chain data is superior to traditional consumer data in many ways and holds the key to powering the future of customer acquisition. Here are some of its advantages:&nbsp;



<ul class="wp-block-list">
<li>With on-chain data, businesses don’t need to pay for licenses or subscriptions to access data.</li>



<li>As on-chain data is secure, companies don’t need to invest in expensive security solutions to protect their data.</li>



<li>Because on-chain data is transparent, businesses can ensure it hasn’t been tampered with and don’t need to spend so much money on auditing and compliance costs.</li>
</ul>



To gain unprecedented access to previously impossible questions (like those in the previous section), brands can start by implementing blockchain into the consumer journey and take physical products on-chain. This can occur by leveraging emerging technologies like <a href="https://www.nomtek.com/blog/what-are-nfc-tags" target="_blank" rel="noreferrer noopener">NFC chips</a> linked to NFTs, which Nike has already done with their <a href="https://rtfkt.com/faq/rtfkt-wm-chip" target="_blank" rel="noreferrer noopener">RTFKT WM Chip</a>.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">.<a href="https://twitter.com/RTFKT?ref_src=twsrc%5Etfw">@rtfkt</a> &amp; <a href="https://twitter.com/Nike?ref_src=twsrc%5Etfw">@nike</a> changed the game forever. All off blockchain tech! Their newest sneaker offering has WM chip built inside! What does it do? Scanning it pulls up the digital NFT, which shows who owns it, when they bought it, and for how much! This is digital provable ownership. <a href="https://t.co/PiCIABZNeq">pic.twitter.com/PiCIABZNeq</a>&mdash; franalations.eth (@franalations23) <a href="https://twitter.com/franalations23/status/1589027074521858048?ref_src=twsrc%5Etfw">November 5, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



As products are increasingly taken on-chain, a collective of blockchain-integrated brands will form, laying the foundation for global ecosystems of interconnected brands to emerge. From there, brand loyalty rewards programs <a href="https://news.delta.com/sip-your-way-more-coffee-or-your-next-big-trip-delta-air-lines-and-starbucks-launch-loyalty" target="_blank" rel="noreferrer noopener">can be linked</a> cheaper and faster than ever, novel experiences can be created around products, and consumer activity can be tracked like never before. These concepts become essential pillars of customer acquisition within the network, and as more companies join, the value proposition for incumbent companies to enhance consumer experiences increases exponentially.



The result? A network effect-powered blockchain that brands are highly incentivized to join and collaborate on.&nbsp;



When we consider how these blockchains could increasingly begin to take form over time, it’s essential to highlight the role that <a href="https://blockworks.co/news/measuring-decentralization-is-your-crypto-decentralized">decentralization</a> plays in the mix. While some crypto natives advocate for absolute decentralization, it can pose challenges for brands seeking to deliver personalized experiences to consumers. Particularly for luxury and service industries, designing and providing tailored experiences hold immense importance. Finding the right balance between decentralization is therefore essential to enable these industries to leverage blockchain technology.



<figure class="wp-block-image"><img decoding="async" src="https://lh3.googleusercontent.com/yqW97adMSg-Pm2l5umNzKiVb4chIjoZISCe841n7qnoi0DPrEFlTqObfdSbNlwyPOBqeFRdCQmUW9rMGxhHDvoOEVNRK3Calupm1t5t_mTPqIlC9G8S7EKm-ikYiArBoxHMxLp5-Uh-CJHe1LDFRSBY" alt=""/><figcaption class="wp-element-caption">Aurora blockchain vs. alternatives | Source: <a href="https://aurora.dev/" target="_blank" rel="noreferrer noopener">Aurora</a></figcaption></figure>



The solution comes in the form of Web2-optimized blockchains like <a href="https://aurora.dev/" target="_blank" rel="noreferrer noopener">Aurora</a>, where brands enjoy the dual benefits of enhanced flexibility and the ability to shape customers’ experiences, leveraging features such as:&nbsp;



<ul class="wp-block-list">
<li>Control access to their own blockchains</li>



<li>Dictate which apps and tokens are available to trade</li>



<li>Control whether they, or consumers, are responsible for gas fees</li>
</ul>



Despite its advantages, blockchain has yet to be adopted on a global scale, and ecosystems of brands leveraging on-chain data to provide better value to consumers are nowhere to be found. This can be primarily attributed to the difficulties that brands and consumers have when onboarding to crypto, of which none have been more frequently cited in recent years than those that stem from crypto wallets. It’s no secret that they provide a steep learning curve and other sources of friction that typically bog down the onboarding process for brands and consumers alike.&nbsp;



<h2 class="wp-block-heading">A single-wallet approach is key to the development of brand ecosystems</h2>



Crypto-natives have become accustomed to managing various wallets across different blockchains and applications, embracing the inherently complex nature of crypto. However, the prevailing &#8220;multi-wallet approach&#8221; poses significant friction within apps, making it less suitable for the average user or Web2 brands seeking a smoother experience.



To put this into perspective, just imagine how frustrating it would be if gamers needed to have a separate account for every PlayStation game they play!



<figure class="wp-block-image"><img decoding="async" src="https://lh4.googleusercontent.com/bjMgbgm_iGRdr6DQvQya7hjpIi43Uwv03KNG9i834JKIls3GqBhaR9fOchWq0rxcBBWBBYUFn8NXLyX9qSqLslboep1wePpRk7lqCw6A-85BI5Q5MM5isJV5kU9Kd0oeTvEdXyWyzASqyZBUHWm8pWQ" alt=""/><figcaption class="wp-element-caption">Aurora Pass brings ease to onboarding to crypto | Source: <a href="https://aurora.dev/" target="_blank" rel="noreferrer noopener">Aurora</a></figcaption></figure>



Adopting a single-wallet approach—like that of the <a href="https://auroracloud.dev/pass" target="_blank" rel="noreferrer noopener">Aurora Pass</a>—is a strong path to alleviate the challenges of wallet tracking for individuals while simultaneously fostering the growth of the interconnected brand ecosystems that are still missing today.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">A loyalty Program on the blockchain is one of the best use of this tech! it helps brands with &#8211; bringing the community together &#8211; Increase Brand awareness &#8211; Increase LTV (lifetime customer value) &#8211; reduces Customer acquisition cost and many more, endless opportunities here.&mdash; Rohan🧢 (@Rohan_0g) <a href="https://twitter.com/Rohan_0g/status/1585538374592405506?ref_src=twsrc%5Etfw">October 27, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In addition to the significant advantage of simplifying the onboarding process for users, the implementation of a single-wallet approach also simplifies blockchain implementation for brands. By consolidating digital assets within the same wallet, brands can easily leverage on-chain data and collaborate on joint activations with other brands. This opens up opportunities for the formation of expansive brand ecosystems, facilitating the growth and synergy among participating brands.



Imagine the possibilities that can arise when, for instance, a wine brand can identify a customer’s <a href="https://blockworks.co/news/starbucks-airdropping-more-nfts">Starbucks loyalty NFT</a> and extend them a special partnership discount. We’ll also see famous musicians become able to easily verify their top fans and send rewards on-chain, consumers gain the ability to sell and transfer loyalty rewards programs, and so much more. These advancements will not only significantly reduce customer acquisition costs, but also eliminate barriers to onboarding in the Web3 ecosystem.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<h2 class="wp-block-heading">Global brand ecosystems will rise</h2>



The widespread implementation of blockchain technology into customer acquisition will predictably generate several large distinct global ecosystems, each featuring a mix of brands that collaborate to acquire the attention, money, and loyalty of consumers.&nbsp;



It’ll be fascinating to see how ecosystems work together to compete against other ecosystems utilizing different blockchains, wallets, etc. For those integrating with chains that offer flexible customization options while utilizing a single-wallet approach, they could very well have a leg up on the competition.&nbsp;



In the end, what’s important about these future brand ecosystems is that the consumer wins. Everything from shopping and loyalty rewards programs to gaming will become much simpler in usability and better suited to provide value. With every brand on Earth able to benefit from this concept and millions of users at stake, the development of blockchain-powered brand ecosystems is a clear path to making the mass adoption of blockchain a reality.



<a href="https://aurora.dev/" target="_blank" rel="noreferrer noopener">Sponsored by Aurora</a>.



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blockchain

This wallet tactic could scale global on-chain brand ecosystems

Macauley Peterson

In the trendy area of Decentralized Physical Infrastructure Networks (DePIN), a recently launched smartphone app proposes to bootstrap the creation of &#8220;dynamic maps&#8221; through token incentives.



Even though its proposed blockchain-based token economy is months away from launch, the app has already met with early success, mapping 1 million kilometers in about 2.5 months. That’s a faster pace than <a href="https://blockworks.co/news/where-are-the-web3-apps" target="_blank" rel="noreferrer noopener">Hivemapper</a>, a hardware dashcam and app that competes with Google Street View using token incentives, the company says.



Hivemapper and <a href="https://blockworks.co/tag/helium" target="_blank" rel="noreferrer noopener">Helium</a> are two sources of inspiration for Natix — the company behind the app — as it moves towards a crypto business model, CEO and co-founder Alireza Ghods told Blockworks.



“I come from the autonomous driving industry [where] mapping or maps are super important,”  Ghods said. “For me and you, maps are a representation of the real world. For autonomous objects, it&#8217;s their world, that&#8217;s how they operate.”



A future where autonomous agents navigate the real world takes data — lots of it.



Hamburg, Germany-based Natix has been around since 2020 building a privacy-focused computer vision platform for smartphones. But it closed a $3.5 million <a href="https://www.natix.network/blog/natix-network-raised-3-5-million-seed-round-for-development" target="_blank" rel="noreferrer noopener">seed round</a> in April in a pivot towards crypto as a means to kick-start growth of its app, called Drive&amp; — yes with the ampersand — which has launched on both Android and iOS.



So far the company has logged about 10,000 registered users, and reports around 4,000 weekly active users, a rate of growth which Ghods attributes to its smartphone strategy, leveraging hardware that users already have rather than requiring special devices.



“It’s a supercomputer you have in your pocket” and “a sensor hotel,” he said.



<h2 class="wp-block-heading">A token economy to scale</h2>



Unlike apps that record video or images, Drive&amp; imagery never leaves the users’ devices, allaying privacy concerns. Instead, it’s processed in situ, and converted to anonymized data — that’s why it’s called “<a href="https://en.wikipedia.org/wiki/Edge_computing" target="_blank" rel="noreferrer noopener">edge computing</a>.”



Natix takes the data and converts it into maps which can provide valuable information on meatspace such as road congestion, crowd size, and available parking spots.



“Dynamic maps enable a new era of smart city and smart mobility applications ranging from crowd management to autonomous driving,” the project’s <a href="https://docs.natix.network/whitepaper/introduction" target="_blank" rel="noreferrer noopener">white paper</a> notes.



But unlocking that value requires scaling the data pool massively.



“You need a certain critical mass before you can monetize these networks,” Ghods said, “you cannot just monetize one driver, but a few hundred drivers per city — that&#8217;s where the story gets interesting.”



This is why the idea of creating a token economy makes sense, according to Leonard Dorloechter, co-founder of Peaq, which is providing the blockchain infrastructure for the planned Natix Network.



“We&#8217;re building a layer-1 specifically for DePIN providing a decentralized backend that has the functionalities which are commonly needed,” Dorloechter told Blockworks.



That includes modules for things like decentralized identity, data storage, access control and payments.



Peaq won a Polkadot parachain auction <a href="https://www.peaq.network/blog/peaq-gears-up-for-mainnet-launch-with-polkadot-auction-win" target="_blank" rel="noreferrer noopener">on July 13</a> which will give it a two-year lease beginning at the end of this month.



DePIN is a new buzzword for a concept also known as Proof of Physical Work (PoPw) and popularized by Multicoin Capital <a href="https://multicoin.capital/2022/04/05/proof-of-physical-work/" target="_blank" rel="noreferrer noopener">in April 2022</a>.



“DePIN is the Frodo Baggins of crypto,” Peaq <a href="https://www.peaq.network/blog/what-are-decentralized-physical-infrastructure-networks-depin" target="_blank" rel="noreferrer noopener">wrote</a> in a February blog. “Unassuming, even endearing at first glance. But with it comes the potential to unite Web3&#8217;s most promising fields; IoT/EoT, energy, telecoms, mobility, behind one term.”



<h2 class="wp-block-heading">A ‘Web 2.5’ play</h2>



The Natix approach today is, admittedly, not using crypto, but Ghods sees that as a necessary phase to onboarding users, some of whom eventually will participate in a true Web3 economy, be active in a governance DAO, and so on.



“Do you think we&#8217;re going to onboard the next couple of billion users by giving them the same experience that we’re giving [now] — with downloading wallets and looking at transaction hashes and things?” Ghods asked.



&#8220;They don&#8217;t care about blockchain — it&#8217;s just another technology — but what they do care about is their life being easier or some utility added for them, or added value for them,&#8221; he said.



The app starts off with a points system, where the rewards are redeemable for discounts on consumer electronics. They are not transferable or exchangeable on independent marketplaces.



“If you&#8217;re asking me to connect my MetaMask and I don&#8217;t have a MetaMask, and I&#8217;m an Uber driver…you lose that guy as a user,” Ghods said.



But that’s just a stepping stone.



“We do have a chance to educate you on what crypto is, and I think if you do this right, then we have a chance to onboard you into even creating a wallet,” he said.



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DePIN

‘Drive-to-earn’ app aims to bootstrap ‘dynamic maps’ with crypto rewards

Shalini Nagarajan

<div id="highlights-block_632c355609aaa" class="highlights">
 <ul>
 <li>The move is pegged to make Helium tokens more compatible with other crypto applications </li>
 <li>More than 6,000 community members voted in favor of the migration, while some 1,000 voted against </li>
 </ul>
 
</div>



Token holders in decentralized wireless provider Helium have formally voted to move from its own Layer-1 blockchain to the Solana protocol.



On Wednesday, a majority community vote of 81.41% officially ratified the Helium Improvement Proposal (HIP 70) aimed at developing the network to meet user demand. Participants had to stake the Helium token (HNT) in order to engage in the vote.&nbsp;



The <a href="https://heliumvote.com/13Y79HnMVt4Epug2rbLYivMPvrcpC2wYUNbZK5Dga3tw3VBpBjk">final results</a> showed 6,177 members voted in favor of the migration by staking some 12 million HNT ($57 million), while 1,270 voted against it.&nbsp;



The Helium Foundation said the switch will allow HNT to become more compatible with other projects and crypto applications in decentralized finance (DeFi), non-fungible tokens and other Web3 applications.&nbsp;



“Solana has a proven track record powering some of the world’s most important decentralized initiatives and they were an obvious choice for us to partner with,” Helium Foundation COO Scott Sigel said in a <a href="https://www.webwire.com/ViewPressRel.asp?aId=294557">statement</a>. 



“Moving to the Solana blockchain allows us to focus our efforts on scaling the network as opposed to managing the blockchain itself.”



The Helium core developer team made the <a href="https://cms.blockworks.co/helium-to-vote-to-transition-to-solana/">proposal</a>, dubbed HIP 70, on Aug. 31. They said the move would “bring significant economies of scale through the vast range of composable Solana developer tools, features, and applications.” 



<h3 class="wp-block-heading">Helium still working on revenue streams amid Solana migration</h3>



Helium had attracted controversy in the weeks leading up to the proposal, with some questioning the network’s revenue potential. Prominent investors defended the startup, saying it was still building infrastructure and that revenue would come later.&nbsp;



HNT, one of the project’s native tokens, is down 90% from its all-time high recorded as crypto prices peaked last November, correlating with the rest of the digital asset market.



In any case, as a result of Helium&#8217;s impending migration, all current ecosystem tokens, including HNT, MOBILE and IOT will be soon issued on Solana.&nbsp;



Once the migration is completed, a new version of the Helium Wallet App will be available, the network said. The history of the previous blockchain will still be available to the public.



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Helium Token Holders Approve Switch to Solana Blockchain

Casey Wagner

<div id="highlights-block_6220fe80ebd8b" class="highlights">
 <ul>
 <li>Bringing real-world use cases front and center is key to adoption, especially on the retail side, Emrit said</li>
 <li>The company offers cryptocurrency mining infrastructure to retail and business clients that allows them to earn passive income</li>
 </ul>
 
</div>



Jiten Varu, CEO of distributed blockchain infrastructure company Emrit, knows that there is some skepticism around cryptocurrency. A great way to onboard the unconvinced? Show them the money.



The company offers cryptocurrency mining infrastructure to retail and business clients with an emphasis on energy-efficient solutions that allows them to earn passive income. The focus is on bringing what Emrit calls “distributed infrastructure” to communities, Varu told Blockworks.



The key to appealing to clients, especially retail consumers, is to focus on the tangible, Varu said.



“When you talk about Web3, it&#8217;s still very virtual for most people,” he said. “They don&#8217;t see the real use case.”



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">“What we&#8217;re finding is our retail customer is connecting to these projects very quickly because we&#8217;re bridging that gap between the physical and Web3 world.”&nbsp;</blockquote>



Customers pay a one-time fee of $199 for the miner and receive 50% of earnings, which are deposited into the user’s wallet once a month. <a href="https://emrit.io/" target="_blank" rel="noreferrer noopener">Emrit</a> was unable to comment on average award amounts per user.&nbsp;



“This is not a coin-focused or currency-focused crypto project, and that&#8217;s the first thing we try to educate our retail customers on,” he said. “It&#8217;s a passive income, not like day trading Dogecoin.”&nbsp;



Emrit works with existing blockchains, Varu said. Its biggest project at the moment is with <a href="https://cms.blockworks.co/?s=helium">Helium</a>, a decentralized wireless network commonly known for powering “internet of things” (IoT) devices with cryptocurrency.&nbsp;



In 2021, Emrit deployed tens of thousands of Helium hotspots to consumers and enterprises in North America and Europe, and now it has its sights set on expansion in Latin America.&nbsp;



To that end, Emrit in December struck a deal with telecommunications company C3ntro of Mexico City to supply Helium IoT to cryptocurrency miners, giving users a new way to generate revenue.&nbsp;



&#8220;Our partnership with Emrit allows us to deploy new, innovative solutions to our customers at a fraction of capex associated with a typical IoT deployment,” Abraham Smeke, C3ntro vice president of global carriers.



Under the partnership, Emrit subsidizes network deployment costs with cryptocurrency mining rewards.



“Our consumer and enterprise hosts have earned tens of millions in [helium] cryptocurrency rewards over the last year, for simply providing a steady internet connection and electricity equivalent to a 5-watt light bulb,” Varu said. “As we look to hyperscale our business, partnerships with C3ntro will significantly speed the adoption of Web3 applications.”



Demand has been strong, particularly from the retail side, he said, but it’s not a way to generate riches overnight.&nbsp;



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">“This is passive income that requires very little support and maintenance,” Varu said. “That’s the draw.”&nbsp;</blockquote>



The partnership with C3ntro comes on the heels of Emrit’s collaboration with PlanetWatch, a global air-quality monitoring system using blockchain and IoT. In June 2021, Emrit partnered with the company to fund the deployment of thousands of air quality monitors to be hosted by Emrit hotspots.&nbsp;



The partnership allows PlanetWatch to save climate data on the blockchain, increasing transparency and security.



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