I realized I have somehow fallen out of the weekly article cadence. Why? No excusable reason. I could say “I’m busy”, but that is the crutch everyone uses way too much. In reality, no matter how busy you are, you can make time for what you want to make time for. Now, sometimes, that means finding a spot on your calendar 2 weeks from now and blocking it out to handle something...but you can still get it done.
Let’s see how many topics I can hit in this…
NFTs (Non-fungible tokens):
Wow. It took me a little bit of time to wrap my head around it, but I started paying attention closely when I read that Logan Paul made $5M selling some. The NBA is building a lot of momentum with their Top Shot product. In fact, I know of a dozen people (myself included) that have joined the queue on 'drop day' in hopes of being able to 'buy a pack'. The fact of the matter is NFTs are NOT going anywhere and we are just in the infancy of what could be a potentially MASSIVE space. I am simply trying to figure out a business opportunity in the mix...
Another collectible that has gained ridiculous momentum. Panini, who has the exclusive license rights to the NFL and NBA has seen exponential growth when examining their web traffic over the last year. But so has everyone else involved in the industry. A perfect storm of epic rookie classes in all major sports combined with COVID caused the industry to explode. Try going to your local Walmart or Target and buy sports cards. The area will be empty and dependent on the time of the day you might see a line of 'flippers' who will buy as much as they can to throw on eBay, Facebook, or their dinky Shopify site at 3-4X retail.
Adding new solutions in Q1 (actually eCommerce related:
We pulled the trigger on 3 new solutions in Q1, Grin, Carro, and Wunderkind.
Grin is an influencer management platform, Carro provides a Shopify integration where other Shopify retailers can sell our products (think drop shipping on steroids), and Wunderkind allows us to send out cart recovery emails before the failed checkout (does some other things too). Will be very interesting to see how these 3 new vendors pan out with their solutions and I will likely write an article going into further depth on our strategy and decision making process.