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Good morning, Marketers, are you blockchain-literate?
“My mind had been marinating overnight — and for more than a year, really — in the abstrusities of cryptocurrencies and the blockchain technology on which they are built… Some of this stuff I understood; much of it I still did not.” Nick Paumgarten writing in The New Yorker in 2018. I think a lot of us know how he feels.
But blockchain and cryptocurrency aren’t new any more. They emerged together in 2008. Non-fungible tokens are a more recent development, as is Web3, the concept of a blockchain-based decentralized internet (which may or may not be linked to the metaverse). So it’s incumbent on us, I think, to understand these ideas as well as we can, if not at the level of the math and coding.
Even the U.S. government is now trying to understand cryptocurrency — ambitious, perhaps, when politicians so frequently demonstrate a feeble grasp of data privacy and the workings of social media. I guess blockchain and crypto are finally mainstream enough to be regulated.
The outer limits. Slim Jim, the snack brand, is apparently creating “a meataverse,” a virtual market that will offer virtual foods, presumably to satisfy virtual appetites. Commented musician Loz Kaye, “Surely a PETAverse will follow.”
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