Porsche's botched NFT - how to do it better next time - Episode 350 - by cryptohunt.it

Crypto in Plain English - by cryptohunt.it

Porsche's botched NFT - how to do it better next time

Welcome to the Cryptohunt Jam, where you learn – in just a minute or two a day – what is happening in crypto and other game-changing ideas. As always: In plain English.

Let's face it: It's always easy to criticize, but doing better takes some real ideas. And if you've left yesterdays episode about Porsche's botched NFT rollout feeling that something was missing - you are right.

So, with that: How could Porsche roll out the next NFT collection more smoothly?

But before we start, a little secret about us. Here at Cryptohunt, we are obsessed with Porsches. We even each have a model Porsche on our desks - so we know: There is no reason that digital collectibles shouldn't work with that strong of a fanbase.

They just have to be done right, so let's dive into four recommendations we have from having seen many NFT releases in the last two years.

Number one - and the most important one - a collectible needs to actually be collectible. Simply designing one car and only changing the license plate in Photoshop basically screams: We just want your money and don't care. It’s lazy and bad for the brand. We hope that Porsche puts a lot more work into the next one - with all that history and special models, there sure is a ton of potential for great artwork that differs from NFT to NFT.

Second, NFTs are special because they are digital, which can open the doors to great experiences. The Bored Ape Yacht Club did it right: That NFT collection was the ticket to an exclusive community which many enjoy, much beyond just looking at an ugly monkey picture. Porsche, with all of its events, magazines, and stores could cook up something so unique that buyers would be willing to pay a ton to be part of it. They already do - it's just not connected to an NFT.

Third, it's an NFT. Naturally, it attracts a different audience. This is Porsche's chance to get a new audience interested in its cars. And did you know that Porsche also has all kinds of other products sold under the Porsche Design label? Connect NFTs with exclusive access or discounts, and we think you have a winner.

Lastly, the age-old advice: Communicate well. Be vocal about where and what will come out, explain how NFTs work, and how to verify the original source. And maybe use your real company Twitter account next time if you truly believe in the project.

In the end: We can't wait for a really cool Porsche NFT. Maybe a reference to a Carrera RS or a 993 RSR? Exclusive meetups? A secret website section? A Twitter space with the CEO? Fans can only dream! All the best next time, Porsche, and we hope you didn't lose faith. Come knock on our door, we'd be happy to nerd out together.

And until then - we do this podcast every day, or at least 5 days a week. Maybe share it with your colleagues that also think about their next marketing hack in web3. They might learn something or get inspired when they spend the 2-3 min a day listening to us.

As always - this podcast produced by Cryptohunt.it, the easiest place to learn all about Web3. And thanks for the referral - every single new listener counts. And if this was the first time listening to us - welcome to the show!

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