How will Instagram's Threads affect Web3? Plus, Fenty Beauty takes over Roblox: Web3 drops of the week

As we officially enter the second half of the year, 2023’s digital highs so far prove that, despite some tribulations like a bear market, Web3 remains as strong and as fruitful as ever — a notion the likes of Dior, Lacoste, and Fenty Beauty are betting big on. This week also saw the launch of Instagram's new social content platform, Threads. The channel, which is already generating an impressive amount of buzz online, has got people speculating about the potential interplay between rival app Twitter and the Web3 community. As for our top highlights and drops from this week, read on below. For more news and verdicts on the latest Web3 happenings, sign up to our Jing Meta twice-weekly newsletter here. Fenty Beauty enters Roblox and invites players to co-create their own product What happened Rihanna-founded makeup label Fenty Beauty has launched its inaugural campaign on Roblox. Running from June 30 to July 30, the pop-up includes scavenger hunts, mazes, and creative applications for players to engage in. The limited-time experience is also being used to showcase three of its key products from the Fenty Beauty Line, including the label’s iconic Gloss Bomb. Players can create their own version via a dedicated lab in the game. The winning shade will be selected by Rihanna herself and rolled out for sale next year. The verdict As with the majority of youthful beauty brands, Fenty Beauty is geared towards the Gen-Z demographic as its primary consumer base, which means needing to get to grips with their socialization methods and points of interest. The activation taps into the high brand affinity between the beauty label and Roblox players, with the "Fenty Beauty + Skin Experience" receiving 216,000 visits across its opening weekend (Friday, June 30 to Sunday, July 2) and a 92% approval rating, according to metaverse data company Geeiq. Lacoste amps up its Web3 community loyalty scheme What happened Lacoste is reinvigorating its Web3-based members program once again, this time with the introduction of its new Undw3 card: a new NFT that will reward its holders with exclusive benefits. Besides the obvious perks, such as unlocking access to Discord channels and brand discussions, the project is also a gamified mission with impressive payoffs. It’s designed to incentivize holders to engage in different activities with the aim of topping a dedicated leaderboard. A leaderboard hotspot will increase the rarity of tokens, in turn unlocking rewards such as an all-expenses paid trip to Paris, plus personal shopping experiences. The verdict The UNDW3 Card is the evolution of the existing Lacoste Genesis Pass, meaning it’s only available to those who are members of Lacoste’s Web3 community. While other brands are struggling to capture the appeal of both the mainstream and Web3 natives, Lacoste seems to have its strategy down to a T by cultivating a strong online fanbase — something that has helped the brand earn a solid reputation. Will Instagram’s new content sharing app shake up Twitter’s Web3 hub? What happened While not entirely metaverse-related news, Instagram’s new social sharing platform Threads (owned by Mark Zuckerberg's Meta), launched on July 6, is set to shake up the online world. The app aims to rival Twitter in its features and content, with key players across the industry already dipping their toes before potentially jumping ship. On its first day of public activation, the app surpassed over 30 million sign-ups in 24 hours. The verdict So how does this relate to the Web3 ecosystem? For one, the bulk of Web3's community live and breathe on Twitter, with the "bird app" a key communication channel for a notable number of metaverse and crypto enthusiasts. Debates have already surfaced on whether the majority of this hub will move over to Threads. Earlier this week, crypto investor gmoney tweeted, "None of CT seems to be moving over to threads atm. Seems like Twitter will be the place for crypto still," but commenters begged to differ in his replies. Twitter has also been on a steady decline since it came under the authority of Elon Musk last year, with its popularity seemingly sinking to an all-time low. What role will Threads play in disrupting this tight-knit ecosystem of Web3 natives?

How will Instagram's Threads affect Web3? Plus, Fenty Beauty takes over Roblox: Web3 drops of the week

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Published July 09, 2023

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How will Instagram's Threads affect Web3? Plus, Fenty Beauty takes over Roblox: Web3 drops of the week