The Third Wave of Web3 — Avium’s Approach to Building The Most Prominent Brand in Web3
TLDR: Expectations towards NFT projects have become higher as consumers become more sophisticated. Building the third wave of Web3, Avium aims to deliver quality at mass to the NFT space, with a vision to be the most prominent media and entertainment brand. By bringing together hundreds of talents and creators, Avium has the real capacity to develop multiple verticals of its brand, including IP, esports, publishing, media and creators network, which all work together to realize our brand vision.
The Three Waves of Innovation
Innovation usually comes in three waves and the NFT space is no different. We have seen two distinct waves of innovation in this space for the past few years. Wave 1 is the proof of concept (POC), exemplified by the likes of CryptoPunks and CryptoKitties back in 2017. At this stage, these products are introduced with a small and niche market. It took a few years before the next wave of innovative products were launched in 2021, first in the form of NBA Top Shot, and then Bored Ape Yacht Club (BAYC), which set the standards for Wave 2, i.e. POC at mass. At this point in time, the space finds its product-market fit, and eager consumers start to buy and trade NFTs en masse.
With the market volume drying up in recent months, the euphoria and hype surrounding NFTs have died down. POC products work, but there are limitations, as after all, they are just “proof” of a concept. It is at this stage where if the industry is indeed to grow and scale, there is must be a third wave of innovation — quality at mass, i.e. quality beyond what is currently in the space. This wave requires bringing in strong execution capacity, to deliver outstanding brand experience across multiple fronts to target previously untapped audiences. In addition, the manpower requirement is much higher with expertise required in all areas.
We’ve seen this three waves in multiple industries. Just take for example the blogging and online writing industry:
- POC — writing directly on websites, HTML coding
- POC at masse — blogging
- Quality at mass — Twitter/medium
As we approach Wave 3 of the NFT Space, consumers become more and more sophisticated (especially after too many rug pulls in Wave 2) and expect much much more from NFT projects. As we move towards greater content , Wave 3 of NFT space will require companies to have a critical mass of talents including artists, storytellers and creators, to generate strong capacity to bring about a holistic 360 brand experience. With a few exception, incumbent NFT projects do not have the resources and ecosystem to bring onboard this critical mass of talents.
Avium’s Differentiating Factor
Avium has already brought together art and animation studio partners in Asia with hundreds of creators and artists joining our ecosystem from Day-0, with strong capability to execute on multiple verticals. The studios have been underrepresented at global stage, and could never claim ownership to the art they produce, as IPs are owned by major western production house despite majority of work being done by Asian studios. Through Avium, these studios can finally work on and co-own their IP for the very first time.
Avium’s ecosystem comprises 5 key pillars where all our partners can flourish, tapping into both our Web2 expertise and the innovative models enabled by Web3. Developing these pillars will allow us to realize our vision in building the most prominent media and entertainment brand.
The 5 Pillars of Avium ecosystem
Pillar 1 — Studio entertainment
Bringing together top studios to create original stories and characters, and in the process, help them become the top-of-mind brands for metaverse content. Through Avium, these studios can own and work on their IP for the first time, and can now showcase the full spectrum of their brilliance. These IPs can then be used to grow all other pillars.
Pillar 2 — Consumer products & media
Producing popular animation, comics, content and products, leveraging the strong capacity of hundreds of artists and creatives who have already been onboarded to Avium. We aim to establish product presence beyond just Web3, and engage with the untapped Web2 mass market to truly become mainstream.
Pillar 3 — Media networks
Developing a network of content creators and combining with esports to distribute the Avium brand. The Web2 attention economy has not been fully exploited by Web3 brands — Avium plans to be the pioneer in this space, acquiring underpriced media network in Web2 for effective distribution.
Pillar 4 — Brand experience
Designing virtual and IRL (in-real-life) experience customized to each Avium community segments (entrepreneurs, artists, fans etc). The careful design of brand experience from brand discovery, engagement to ownership help enhances brand perception and loyalty.
Pillar 5 — Marketing
Marketing via both Web3 and Web2 channels with social media and content platforms. In-line with our effort to break into the untapped Web2 mass market, we aim to become the most popular NFT project on TikTok, Instagram, LinkedIn etc, leveraging on our strong content creation capability enabled by hundreds of artists and creatives.
In a nutshell
The foundation of these 5 pillars, once fully developed, will allow Avium to be the most prominent media and entertainment brand, and realizing our brand vision across various fronts. We aim to set the standards high to enable Wave 3, i.e. quality at mass, and be the change that this space needs.
Enabling Passion, Building Dreams.
For /\ For All.