Web3 and NFT are just the beginning of a large metaverse, says Wursta

Alex Wykoff, Product Director, Web3 at WRST Collabs talks about Wursta and their web3 team, why they chose to enter the NFT space, how NFTs ignite brand engagement, what this process looks like, and the different ways brands will leverage web3 on. Wykoff also shares how society is becoming more comfortable with NFTs, different ways you can use NFTs, and why we’ll start seeing them used in all kinds of brand activations. Finally, Wykoff explains the role NFTs are playing in the adoption of web3 and the metaverse, the benefits for businesses that choose to incorporate NFTs, his prediction for the NFT industry over the next 10 years, and what’s on the horizon for Wursta.

NFTs are more than art: how they can ignite brand engagement and drive your business forward

ADM: Tell me a little about yourself and about Wursta.

Wyckoff: I have been in the tech industry since 2007 and web3 specifically since 2016. I recently joined Wursta in April 2022 to help grow their web3 team. Wursta is a leading independent technology consultancy specializing in cloud transformation and digital workspace design. Earlier this year, we launched WRST Collabs, Wursta’s newest innovation studio for Web3 ventures comprised of engineers, artists and product-focused individuals who are passionate about Web3. Wursta continues to grow, hire and invest in the Web3 space.

ADM: You’ve typically been known as a company that helps businesses get the most out of their cloud investment. Why did Wursta choose to enter the NFT realm?

Wyckoff: Wursta’s management is always aware of what is coming next. In particular, this latest push for web3 stems from observations of brands exploring space, as well as the general trends in technology. We have been helping organizations build their digital workspace for a long time. That’s why we decided to open the WRST NFT Gallery here in Austin earlier this year.

We felt it was important to build an interactive space for Austin’s tech and arts community to connect, celebrate and learn together as an extension of Wursta and also help customers understand and build in the web3 space. Wursta is passionate about working with the community to build for the future and encourages collaboration.

ADM: When most people think of NFTs, they think of digital art. How do NFTs ignite brand engagement?

Wyckoff: NFTs go beyond an individual piece of art or a social media profile picture. Branding, at its heart, is about a relationship between a business and a person. NFTs have a permanence and introspection ability far beyond anything we’ve seen before.

Reputation systems, influence and social proof are all publicly visible. This is going to encourage brands to push benefits to active individuals as they compete for attention. In return, they will have a very clear picture of the frequency of activity that until now only a few credit and market analysis firms had access to.

ADM: What will this process of NFTs for brand engagement look like?

Wyckoff: We are seeing more use of NFTs around the world and in many different use cases. Recently I chatted with Phil Hedayatnia, founder of Airfoil Studio, who told me about his stay at a hotel where he received an NFT for overstaying a certain number of nights.

We are already seeing how NFTs are integrated into everyday society. For example, we’ve seen the email and password systems replaced by another type of authentication that connects your wallet to “login”, which then allows you to receive discounts and promotions based on your verified blockchain history. It’s just one of the different ways brands will leverage web3. As the community becomes more comfortable with NFTs and the different ways you can use them, we will start to see them used in all kinds of brand activations.

ADM: What role do NFTs play in spearheading the adoption of Web3 and the metaverse?

Wyckoff: NFTs have generally been easier to understand for the consumer audience compared to a more complicated topic like DeFi. While the first wave of NFT enthusiasts paid for access to this new realm, today’s public can participate with a much lower entry fee.

I see NFTs as a stepping stone to adopting Web3 and the metaverse. I think we will slowly start to see people warming up to NFTs more as they become integrated into more everyday practices like hotel transaction purposes, like the example I shared above. A special shoutout goes to POAP for encouraging people to attend for free. Personally, I see the next push being in reputation systems, and I can reasonably see portable reputation becoming a very lucrative market, much like the early days of online video game accounts in the 90s.

ADM: What would you say to companies that are hesitant to use NFTs?

Wyckoff: I can understand why companies would be hesitant to use NFTs. Web3 has not fully proven itself as the next generation of web technologies, it has some regulatory risk and needs to be carefully navigated, and there are some environmental concerns.

But I would also say that there are few opportunities to be a leader, explore a new frontier and help define the future. This is exactly that moment, and the barrier to entry is not expensive, just mysterious. If you want to open up a new way to engage with your customers or discover new ones, now is the right time to be curious and experiment.

ADM: What are some benefits for companies choosing to incorporate NFTs?

Wyckoff: The immediate benefit is that depending on the NFT you have created, it represents a lasting relationship between you and a person. The more often and more focused you distribute NFTs, the more loyalty will be built around individual profiles.

NFTs can also represent a community bond. Just like a team jersey, ribbon t-shirt, or your favorite sneakers, how you decorate your “avatar” physically or virtually is an expression of your identity. Businesses can use thoughtful NFT creations to build bonds between customers and ultimately enrich their relationship with the brand.

ADM: What can we expect from the NFT industry in the next 10 years?

Wyckoff: 10 years!? I can hardly imagine 10 months into the future when it comes to Web3. What I will say is that I personally sincerely hope that when new entrants enter the industry, they remember open source and the non-zero-sum culture that created the foundation upon which they build. The web’s great sin came with .com, ads, and forgetting the ideals of intellectual and individual liberation at the heart of the internet. If we have built this future right, we will see an incredible enhancement of individual freedom via technology. At the time, I would expect NFTs to be more ubiquitous than plastics are today.

ADM: What’s on the horizon for Wursta?

Wyckoff: We also have a few internal projects in the works, but you’ll have to stay tuned to WRST Collab’s social media channels to see those updates as they come out.

Alex Wyckoff

Alex Wykoff is an experienced product manager with depth and rigor built from a career in engineering, design and research. The mastermind behind a number of successful product launches and events, Alex has made a name for himself at companies such as Brave, leading the launch of Brave Rewards, Stakefish and Spiceworks. His product philosophy is that the most successful products come from observing and listening to users while using a design-with strategy. He has taken the products from concept to launch while maintaining industry-leading standards for privacy and security. Originally from Pennsylvania, Alex now lives in Austin, TX, where he is the Product Director, Web3 at WRST Collabs.

WRST NFT Gallery