Latest Report Uncovers Trends in Web3 Adoption by Top Brands of 2022 and Q1 2023

Rhea-AI Summary

NFT Technologies Inc. (NEO: NFT | OTCQB: NFTFF) has released a report analyzing web3 technology adoption among top brands from 2022 to Q1 2023. The report reveals that 315 brands initiated 526 web3 projects, with 40% of these projects lasting over a year. Despite tightening market conditions, the report indicates continued brand interest in web3, highlighting real-world applications of NFTs. The report categorizes brands based on quality metrics, such as aesthetics and originality. Notable brands included in the study are the Australian Open and Elvis Presley Enterprises. CEO Adam De Cata emphasized the significance of meaningful NFT use cases as brands move beyond initial hype. This comprehensive analysis illustrates NFT Tech’s dedication to advancing web3 strategies and reinforcing digital asset ownership among global brands.

Positive

• 315 brands launched 526 web3 projects, indicating strong market engagement.
• 40% of projects last over a year, showing sustained interest in web3 technologies.
• NFT Tech's report is based on extensive market research, enhancing credibility.
• Partnerships with notable brands, including Australian Open and Elvis Presley Enterprises, bolster NFT Tech's market position.

Negative

• Tightening market conditions may pose challenges for future web3 project launches.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- NFT Technologies Inc. (NEO: NFT | Frankfurt: 8LO | OTCQB: NFTFF) ("NFT Tech"), a leading technology company partnering with top-tier brands to accelerate their entry into the world of web3 through innovative technologies and unparalleled creativity, has released a comprehensive report analyzing the adoption of web3 technology by top brands. The report, which covers the period from 2022 to Q1 2023, provides insights into the sectors and brands that are leading the way in web3 adoption.

According to the report, 315 brands launched a total of 526 web3 projects in 2022 and Q1 2023. The report also scored brands based on aesthetics, originality, purpose, and fluency, providing a comprehensive overview of the quality and uniqueness of web3 projects launched by top brands.

The report highlights the continued interest and investment in web3 technology by top-tier brands, with 40% of projects lasting over 1 year. The report also suggests that real-world adoption of web3 technology will continue to increase, as more brands explore the potential of this new technology.

“Despite market conditions tightening in 2023, we have seen consistency in web3 project launches, with brands exploring the technology's full potential,” said Adam De Cata, CEO of NFT Tech. “As web3 use cases move beyond the hype cycle, we are now starting to see brands engage their customers with meaningful use cases of NFTs.”

The report covers a range of topics, including web3 enablers, reasons why brands made web3 moves, real-world adoption trends, web3 technology choices, and metaverse platform choices. It also provides insights into web3 adoption in specific sectors, such as fashion, sports, and retail.

NFT Tech's report is based on ongoing market research and tangible experience delivering web3 strategies for top-tier brands, including the Australian Open, Elvis Presley Enterprises, Linktree, World Table Tennis, and others.

To learn more about the report and NFT Tech's web3 strategies and solutions, visit our website at link.nfttech.com/web3-report

About NFT Tech

NFT Tech builds products that accelerate web3 adoption by infusing utility into digital assets. The company’s technology is designed to increase consumer engagement, enable digital asset ownership, and discover new business models, making NFT Tech a trusted partner to global brands across many industries, including sports, entertainment, and art. NFT Tech’s award-winning studio is the recipient of the first-ever Cannes Lion for an NFT Activation, of the most respected and well-known awards in the industry.

NFT Tech is publicly listed on the NEO exchange under the symbol NFT and on OCTQB under the symbol NFTFF. By bridging the gap between traditional capital markets and the web3 space, NFT Tech is mainstreaming the new era of the internet while bringing insights and benefits to the public markets.

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Cautionary Note on Forward-Looking Information

This press release contains certain forward-looking statements within the meaning of applicable securities laws with respect to the Company. These forward-looking statements generally are identified by words such as "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," and similar expressions. Forward-looking statements in this press release include statements relating to expansion of the Company's NFT developments and product offerings; potential benefits and demands for direct-to-consumer NFT projects; potential benefits, development and acceptance of web3 and related applications; plans for accelerating growth; and the continued public acceptance of NFTs. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release including, without limitation, the risk factors described in the Prospectus. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The Neo Exchange has not reviewed or approved this press release for the adequacy or accuracy of its contents.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230411005479/en/

Email: ir@nfttech.com

Phone: +1 (604) 800-5838

Source: NFT Technologies Inc.

FAQ

What does NFTFF indicate in relation to NFT Technologies Inc.?

NFTFF is the stock symbol for NFT Technologies Inc. on the OTCQB exchange.

What brands are leading in web3 adoption according to the NFT Tech report?

The report highlights brands such as the Australian Open, Elvis Presley Enterprises, and Linktree as leaders in web3 adoption.

What timeframe does the NFT Tech web3 report cover?

The report analyzes web3 technology adoption from 2022 to Q1 2023.

How many web3 projects were launched by brands in 2022 and Q1 2023?

A total of 526 web3 projects were launched by 315 brands during this period.

What impact do tightening market conditions have on NFT Technologies?

Tightening market conditions may present challenges for NFT Technologies regarding future web3 project launches.