332: BIG Opportunities for Ecommerce in NFTs: Web3 Series Part 2

We’re looking out to the (near) future at some very creative opportunities for eCommerce in NFTs. These ideas could help circumvent some of the margin pressure and economic challenges brands are facing today.  This episode features Taylor Holiday, the founder of Common Thread Collective. Before running an eCommerce agency he had his own D2C brand so he brings a ton of knowledge from being on both the brand and the agency side of eComm business. Taylor is an NFT enthusiast and has some brilliant ideas about NFTs and their place in the changing sphere of eCommerce.  In this fascinating conversation, you’ll learn a ton about NFTs -- what they are and how you might be able to use them to combat margin pressure in your eCommerce brand.  Episode Highlights: 4:37 Taylors large business vision  6:23 The difference between running a brand and running an agency  7:30 Complexities around cash flow management & human relational problems 9:40 The importance of your product to the success of your brand  11:20 What the hell is going on with Facebook  14:33 Quantifying what other brands are seeing in metrics right now 15:19 The primary metric to care about post iOS launch  16:56 aMER (acquisition marketing efficiency rating): why it’s critical  20:07 Diversification is not primarily an advertising strategy  23:39 Where to start if you’re moving out of Facebook  25:05 Why Web3 is so exciting & what it means for current margin pressure  26:31 Margin innovation and opportunities in the metaverse 32:04 Why you shouldn’t blow off investing in cryptocurrency  33:19 Examples of creativity with eCommerce in NFTs used to bring in fast cash 36:16 Why NFTs are a better version of Kickstarter  37:35 Creating built-in affiliates with NFT holders 38:44 The NFT as a community access token as well as an asset 43:13 How to continue to add value associated with holding your NFTs 47:34 Shopify beta opportunity for eCommerce in NFTs sold like a SKU  48:37 Using NFTs for access to special content or promotions  52:28 What’s just interesting and what’s actually important in the future of eCommerce in NFTs 56:51 What % of Shopify stores might invest in NFTs next year?  57:56 Raising funds & engaging a target market with NFTs 1:02:42 The calendar cleanse process that has helped Taylor manage his many priorities  Resources: @TaylorHoliday on Twitter Common Thread Collective. RTFKT The Hundreds, Adam Bomb Squad Mintgate.io Crypto Dads The Brand Growth Membership @a_brawn on Twitter Review or subscribe on iTunes