An Open Letter to the Web3 Community
Marketing Communication
Over the past few years, we've fully embraced a speculative mindset, diving headfirst into jackpot games and raffles, often discarding rational thinking in a last-ditch attempt to hit the lottery. It's been a rough ride. Many 'collectors' joined the web3 space during the final moments of the 2021 boom, buying into projects at their peak without much knowledge, driven by FOMO and the hope of striking it rich. At times, we put on our VC hats, analyzing teams, checking if they were doxed, and assessing their intentions and products.
As the bear market took hold, many projects and collectors disappeared, disillusioned by the web3 world after being burned. Now, with various cryptos hitting new highs, speculation is back in full force, often in its worst form.
I write to you today because I believe we are at a significant inflection point—a proverbial fork (or spork) in the road. We have choices ahead of us:
Stick with the projects you believed in from the start. Many of these projects are still being built, and there may be something truly unique around the corner. This is one path I favor.
Dive into speculative activity. This involves gambling away in a cycle of mining gold, hitting jackpots, and undercutting each other on floor prices. I'm not a fan of this path.
Real-world assets. NFTs can act as wrappers to bring unique items on-chain, offering a chance to diversify our collections. This mature, thoughtful approach can shape the narrative, onboard more people, and help grow the space instead of destroying it.
I'm not writing this from a place of superiority—I have "degen" in my ENS name. I'm simply asking if you're ready to be part of the narrative that helps us all, that supports NFTs becoming the technology we envisioned, with real use cases and broader interest. And this is where I believe we should be leaning as a collective.
If you are supportive of this idea, then I’d like to offer you the following resources, ideas, and general thought leadership:
Tune in to the RWA SegMint’s podcast. This is a fairly new podcast but one that exists to be purely value-added and educational. It gives you actual tokenization of real-world assets (RWA) that you can discuss with friends in a non-technical way.
Follow RWA.World. I believe they are building the premier database for tracking and understanding the world of RWA and the platforms that are playing a defining role in it. In fact, the second podcast series includes RWA.World and some interesting opportunities they are seeing.
Consider joining SegMint.io. This is the only fractionalization platform where you retain ownership of the underlying NFT. SegMint aims to be the intermediary between RWA tokenization platforms and collectors. If RWA tokenization platforms are the L1, SegMint aims to be their L2, building out a way for users to gain access to unique collectibles. SegMint is partnering with projects such as Watches.io, Proofworks, Club dVIN, and many others, giving collectors a chance to own a piece of some of the best collectibles on the market.
Let's not just survive the ups and downs of the market—let's shape its future. Together, we can build a more sustainable, inclusive, and valuable web3 ecosystem. Join me in this journey towards realizing the full potential of NFTs and real-world assets. Let's work together to create a better future for the web3 community.
I’d also love to hear your thoughts, consider writing me at mbartlett@vaneck.com
Sincerely,
Matt Bartlett
CEO of SegMint GmbH/Head of Web3 at VanEck
Disclosures:
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Risk associated with Digital Assets:
Use of SegMint including acquisition of digital assets involve a high degree of risk. These risks include, but are not limited to: the technology is new and many of its uses may be untested; intense competition; slow adoption rates and the potential for product obsolescence; volatility of the value of digital assets, including but not limited to, inability to sell a digital asset; loss or destruction of key(s) to access accounts or the blockchain; reliance on digital wallets; reliance on unregulated markets and exchanges; reliance on the internet; cybersecurity risks; and the lack of regulation and the potential for new laws and regulation that may be difficult to predict. Moreover, the extent to which Web3 companies or digital assets utilize blockchain technology may vary, and it is possible that even widespread adoption of blockchain technology may not result in a material increase in the value of such companies or digital assets.
The monetary value of digital asset changes very quickly and frequently and Web3 companies, can rise or fall dramatically and quickly. If their value goes down, there’s no guarantee that it will rise again. As a result, there is a significant risk of loss if you acquire digital assets.
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Digital assets include, but are not limited to, cryptocurrencies, tokens, NFTs, assets stored or created using blockchain technology, and other Web3 products.
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