Puma Unfazed by Crypto Winter: Continues Investment in Web3 Technologies
In the face of a prolonged cryptocurrency downturn, popularly known as the ‘crypto winter’, sportswear giant Puma has made a calculated decision to keep its faith in web3 technologies. This move comes despite the modest tech revenue gains it has realized so far from the venture.
Staying the Course
Ivan Dashkov, Puma’s head of emerging technology, engaged in an enlightening conversation with TechCrunch+, where he reiterated the brand’s unwavering commitment to prepping for an impending future driven by crypto. He stressed that Puma, having experienced the sting of missing out on previous digital revolutions such as e-commerce and social media, is now determined to be at the vanguard of the web3 movement.
Puma’s Journey into Web3
Puma has been navigating the waters of web3 for a couple of years now. Its first significant stride in this space was made back in February 2022 when Puma registered an Ethereum Name Service (ENS) domain, Puma.eth. This marked a symbolic assertion of its presence in the Ethereum blockchain community.
Braving New Frontiers – The Metaverse
Fast forward to June 2023, Puma launched Black Station and Black Station 2. These platforms, referred to on its website as an ‘experimental 3D spatial playground’, essentially serve as Puma’s foray into the realm of the metaverse. While the platform has faced criticism for its slow speed and potential confusion, particularly for non-gamers, Puma perceives it as a groundbreaking avenue for consumers to interact with the brand in a digital domain.
Despite the challenges and uncertainties, Puma’s continued investment in web3 technologies underscores its strategic vision for a future where crypto becomes more prevalent. This steadfast commitment is a testament to Puma’s readiness to embrace the transformative powers of digital technology, even amid the chill of the ‘crypto winter’.
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