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Monday’s Marketing Minute: Yuga Labs Acquires CryptoPunks, Massive NIL Deal, Social Media Engagement Rates By Platform

Happy Monday! Hope you had a wonderful week as we (hopefully) begin to tip-toe into Spring like weather over the coming weeks! Here’s a few business and marketing stories I read over the last few days that I wanted to share:

 

Yuga Labs, which previously acquired the Bored Ape Yacht Club and Mutant Ape Yacht Club brands, has now acquired CryptoPunks and Meebits. As you can see from the tweet, and article here, Yuga will be granting the same commercial rights to the NFT owners as BAYC and MAYC owners enjoy. I want to do some more digging into this ownership issue, because it almost seems like we have a licensor/licensee arrangement happening here. Which isn’t true ownership, and a bit contrary to the intended web3 ethos. But still very cool move by Yuga Labs, regardless! Either way, it will be interesting to see what develops commercially from this, either with individual NFT owners, or as a collective.

 

So last Summer, I wrote a post on NIL laws going into affect in multiple states. When it happened, I immediately knew this was the story of the year, because of the huge impact it would have on the business, sports, and branding worlds in the future. Well now the future has arrived. As my friend Kristi writes, there is an offer on the table to an unnamed Class of 2023 football recruit that would pay him $8 Million for the exclusive rights to his Name, Image and Likeness for 4 years.

Read those numbers again: A high school junior football player is being offered $8 Million dollars over 4 years.  Not to play football, but to post on social media, make public appearances, etc. Kristi talked to the NCAA about this deal and it would likely be a violation of its rules on pay to play. Still, it feels like it’s only a matter of time before similar deals become commonplace, and if that happens, the worlds of collegiate and amateur athletics will effectively be over.

 

Marketing Charts has a very interesting analysis of engagement rates for content posted to Facebook, Twitter and Instagram. Before reading, which platform do you think has the highest engagement rates?  Instagram, and it’s not even close. Visual content drives engagement, it’s just a fact of digital life. But what industry on Instagram drives the most engagement? Would you believe Higher Education? I found that very surprising. The 3 percent engagement rate for content about higher ed was almost double the engagement for the 2nd place industry: Sports teams.

 

So that’s all I have for this week, hope all of you have a wonderful and productive week, and I will see you here next Monday!

 

SPONSORED: If you’ve noticed, the content here over the past several months has moved more to covering the emerging web3 space and technologies. A big reason why is the emerging opportunities these technologies will create for content creators to build engagement and monetization opportunities around their content. My friend Joe Pulizzi has been one of the content marketing and creation leaders for well over a decade. He’s teamed up with Brian Clark (of CopyBlogger fame) to create an event just for content creators, CEX. CEX is the Creator Economy Expo. If you are a content creator who is looking to build engagement, a larger platform and maybe even an INCOME from your content, then CEX is your tribe. The event will be held in May in Phoenix, and features a who’s-who list of content speakers, including Joe and Brian, along with Ann Handley, Dan Pink, Jeremiah Oywang, Pam Slim and many more!

If you want to build a business around your content, CEX is where you need to be! You can register here, and when you do, use code Collier to get a $200 discount! And please note that the Early Bird rate ends on April 1st. Hope to see you there!

About Mack Collier

My name is Mack Collier and I am a digital marketing and content strategist located in Alabama. Since 2006 I've helped companies of all sizes from startups to global brands such as Adobe, Dell and Ingersoll-Rand, create customer-centric programs, content and experiences. A long-time internet geek, I've been online since 1988 and began using social networking sites in 1991 when I joined Prodigy. Today, I help companies understand how new technologies like web3, crypto and artificial intelligence can integrate with existing marketing strategies to lead to exceptional customer experiences.