Bringing Web3 to DTC with Novel Founder Roger Beaman
From Budweiser to Adidas, big-name brands are entering the Web3 conversation and launching NFT (non-fungible token) collections. These collections are comprised of uniquely identifiable digital assets, ranging from images, video clips, audio, and everything in between.
For DTC brands, NFTs are not just a way to stay in the know and be a part of the “next big thing.” Rather, they’re an opportunity to reach the next generation of consumers, build brand loyalty, and lean into community. The possibilities are endless.
We can’t talk about Web3 and the future of ecommerce without bringing up Novel.
Founded by Roger Beaman, Anna Merzi, and Brian Sugar, the no-code platform for NFT commerce is removing the barrier to create and buy NFTs and forever changing merchandising mechanics. They recently raised a $6 million seed round, backed by Lerer Hippeau Ventures, VaynerFund, Costanoa Ventures, Roth Martin, Sugar Capital, and others.
How can DTC brands lean into Web3, and what tools will skyrocket brands into this new ecosystem? Roger shared his insights and expertise from Novel with the Tydo team.
The Second Killer Use Case for Crypto: NFTs
In Roger’s mind, the first killer use case for crypto is the currency itself. It’s how most of us discovered crypto in the first place. The second killer use case? Roger says NFTs.
Consumers are excited about NFTs. They want to buy them. And, they want to own them. That’s one of the key observations that led him to founding Novel.
He explains, “Brands and their customers want to build a stronger relationship, and Web3 is a great way to do that, but they don’t know where to start. Our job is to make that first step into the Web3 ecosystem as seamless as possible.”
But despite all the interest in the space, there’s one key issue: It’s hard to create, buy, and sell NFTs.
That’s exactly what Novel is solving for.
“There are huge hurdles on the supply and demand side. By solving for this, we bring together two parties who are eager to transact."
Novel is the Shopify-friendly platform for NFT commerce.
The team has built tools that radically simplify the creation and purchasing of NFTs on Shopify storefronts. Brands can launch a collection without touching a line of code.
On Novel’s comprehensive platform, brands can both create generative art and deploy smart contracts, allowing them to sell their NFT collections directly on their Shopify stores.
And the coolest part (in our opinion): Novel allows consumers to check out with a credit or debit card. No Metamask wallet or cryptocurrency needed. Plus, there’s no concern about losing that private key.
What are the use cases? From building new communities to creating exclusive products, the sky’s the limit.
One of the most exciting opportunities is gated storefronts. With Novel, brands can create gated products and content for NFT holders within their Shopify store.
Imagine allowing NFT holders to book one on one time with a founder (e.g. Pharell of Humanrace) or a brand team, or imagine gaining exclusive access to a celebrity brand owner’s unique YouTube series.
To summarize (and simplify), Novel:
- Helps brands and consumers create NFT projects using no-code.
- Democratizes the NFT purchasing process so it’s not daunting.
- Facilitates unique experiences for NFT holders.
"With Novel, we create a new relationship between brands and their customers through the Shopify ecosystem. That’s a huge opportunity."
Brand value is intangible. People try to measure and quantify it through NPS, but it’s not that simple.
For brands confident enough to create their own NFT collection are an innovative way for them to quantify their engagement.
Brands can get real answers about the strength of their brand:
- How quickly did the collection sell out?
- How eager are people to become a part of it now?
- How engaged are consumers with premium features such as gated experiences and discounts?
Brands can leverage this data to further engage their community, make smarter decisions, and launch relevant, entertaining content.
With their platform, Novel is bringing more and more DTC brands into the Web3 ecosystem. And, they’re just getting started.
“NFTs are a powerful tool to bring consumers deeper into the fold of their favorite brands and give them a real sense of ownership over the brand’s success.”
Report Cards is a customized glimpse into your business, delivered to your inbox for free.
Report Cards consolidates all your key metrics across platforms for an at-a-glance pulse of your business.
Discover metrics for every team member so they can stay updated with the right data on a daily, weekly and monthly basis.
It's free because we believe everyone should have access to the basics.
Portfolio is a hub for analytics across multiple Shopify stores. The perfect tool for agencies.
See an aggregate view of all your data for all your stores in one place.
Make real time assessments on marketing initiatives across every storefront you manage.
Analyze the performance of one store versus another in seconds.