PPPPlaying Both Sides (Four P's #180)
Defining Zero, the Best and Worst of Super Bowl Ads, and Decentralization
What if the things that divide us are also the things that unite us?
You loved the Super Bowl commercial that I hated.
Well, at least we were all watching it together!
You think wearing masks should be a personal choice. I think masking is a necessary, short-term solution to get us through a global health crisis.
At least we both think the other is being utterly selfish!
You think NFTs are a scam and stupid.
I think YOU'RE stupid. No wait, that one got away from me...
SOMETHING PERSONAL: They’re Real & They’re Spectacular
Since sharing the news about joining the Mint team a few weeks ago, my post on LinkedIn had more than 10,000 views and more likes/comments than I could manage. But I'm grateful for every note, good wish and email. As much as there is curiosity, interest, opportunity, and a sense of urgency for marketers to get into the NFT space, the most immediate priority is for them to understand the different meanings of "blockchain," "web3," "cryptocurrency," "decentralization," "defi," "metaverse," and "NFT." They are NOT all the same even if many of them are connected. The education is ongoing, but it's been worth it. And that's been my focus so far.
Meanwhile, there are still plenty of people who believe that cryptocurrencies and NFTs are a scam, and will not even consider any other opinion. Yes, there are bad actors and nefarious schemes. More often than not, though, even the questionable projects are not as nefarious as you think, and just poorly planned or executed. Gary Vaynerchuk's calm, reasoned response in this CNBC interview last week was (chef's kiss). Scammers and exploiters of new technology are have always been around. I got scammed on ebay 10+ years ago. You got emails from a dethroned Prince of Nigeria. Her credit card was stolen. His computer was infected with a virus. This isn't new.
What IS new is how blockchain technology is redefining commerce, creativity, connection, collaboration, and communication. The underlying platforms empowering cryptocurrency and NFTs have more potential applications that there are stars in our universe. Web 1.0 and Web 2.0 were also called novelties at the time, but it's a good thing we didn't dismiss and ignore them.
NFTs are just tokens for access. Keys to unlock information and fun. They happen IRL and can empower creators and connect us in new ways. And in that respect, it's no different than any marketing platform in history.
SOMETHING PROFESSIONAL: Bowling for Dollars
Speaking of marketing platforms, the single biggest marketing event of the year, the Super Bowl television broadcast, drew 120 million viewers on Sunday night. And while there some real excitement on the field with a Stafford/Kupp final drive for the ages, there was also as much (more?) interest in the commercials that aired in between plays.
Last year, I watched the Big Game for work purposes, commenting on the ads for an industry publication (and subsequent Clubhouse chat). This year, my interest was more personal than professional, but we did also host a Twitter Spaces with various luminaries and thought leaders in the marketing space to break down the best and worst of ads, as well as everything in between. (What a difference a year makes!)
Key themes this year included electric cars, 1990's nostalgia, sustainability, health and wellness, travel "opening up again," NBCUniversal’s IP and, of course, cryptocurrency. Everyone has their own definition of “good” and “bad,” but as a marketer, I evaluate it from two perspectives: creativity and effectiveness. Creativity is subjective, meaning how much I enjoyed a spot, how much it moved me, how memorable it will be. Effectiveness is tied to the brand’s objective, and is slightly less subjective as they can (ultimately) be measured.
Creatively, I enjoyed the Uber Eats, Rocket Mortgage, Google Pixel, Cutwater Spirits, Chevy’s Sopranos ad, and FTX crypto ads and this spot from Greenlight as standouts:
I did NOT like the SalesForce, FritoLay (Flamin!), Taco Bell, Michelob Ultra, or BMW, T-Mobile ads at all.
I was somewhere in between on Lay’s, GM, and Squarespace, but I like that the commitment to greater diversity in cast/celebrity spokespeople continues to be a work in progress.
As far as effectiveness, I think the clear-cut winner was Coinbase. Whereas other crypto platforms went with entertainment, the VERY distinct Coinbase ad featuring a floating QR code drove immediate conversion (so much, in fact, that it crashed the Coinbase app for a minute, which is a “good problem). The app jumped from 186th to 2nd in the app store. It was also the most discussed spot among many different groups in my own network.
But until they make the barriers to entry much lower and the value to buy in much better (from a utility perspective), similar educational challenges will persist.
And then there was that Planters commercial, which I hated most of all. I know hate is a strong term, but that really wasn’t the place (nor the brand) to be shamefully celebrating the nadir of social divisiveness into which our society has descended. While the ad did resonate with people who I assume to be intellectually or socially unaware, I commend those who at least took a more unified approach.
SOMETHING PRACTICAL: The Zero Truth
One thing that the Planters commercial that ran during this past weekend's Super Bowl got right is that we are an irreparably divided. We disagree about everything. And in many ways, we always have. In America, it's been Pro-Mask vs Pro-COVID. Right vs Left. Fascists vs Socialists. North against South. Federalists vs Anti-Federalists. One thing each side has always said about the other is that they are full of dangerous, harmful ideas.
If you pick a side, it's quite binary. Zeros and ones.
Which is interesting, considering that there was even a debate whether zero is actually a thing. For many ancient civilizations, numbers were tools for counting and dividing up assets and land. The first cavepeople to start counting didn't actually start with zero. But the ancient Babylonians eventually realized that something was missing. Their first two numerical symbols represent "1" and "10," but later realized they needed a third symbol to clarify sums and amounts that needed a "0".
The ancient Greeks turned numbers into whole philosophy, but refused to accept the existence of zero. Aristotle declared that it simply didn’t exist, but was merely a product of man’s imagination. Rene Descartes also thought (and, therefore, was...) that zero did not exist. Others debated this based on riddles, fables and real-life examples (including basic subtraction). Conflicts ensued, and even if/when one side was proven right or wrong, they refused to accept it.
So when did zero actually become a thing? Indian mathematicians first mainstreamed the idea that zero deserved a place among the numbers. And that realization opened all sorts of doors (including the concept of negative numbers). Christians were the last to accept zero – and, in the end, it was commercial pressure that caused them to do so. Italian merchants realized that our modern system of counting with ten digits, known as the Arabic system (which included a digit for zero), was a lot simpler to use than the Roman system that the church still required.
So is nothing actually... something? Absolute zero is the (unattainable) state a gas reaches when it has zero energy at all. Black holes also take up zero space, yet still have mass. String theory posits that the universe exists in ten or possibly eleven dimensions, so what seems like zero to us may not really be zero when all the other dimensions are factored in. Then there is the Big Bang, where everything started at zero. Or did it? One last thought to blow your mind... Zero and infinity are actually opposites.
My point: Many debates are subjective. In those instances, there may not be a definitive right or wrong. Other debates do have objectively correct answers. Unfortunately we've arrived at a stage in our social de-evolution where even questions with a scientifically verifiable right answer are met with resistance because the side arguing against truth is too slow, too selfish, too stubborn or too stupid to understand it or accept it.
SOMETHING POLITICAL: New Kids on the Block
I've heard the criticism already coming from inside the house, from existing NFT enthusiasts, that marketers and political opinions are going to ruin the NFT space. I disagree. This is an ecosystem, and there are many different use cases that are finding a place here. This isn't going anywhere... but with the right planning and creativity, can be a rising tide that lifts all ships.
Blockchain technology is incredibly simple, and gave rise to the biggest current use case: cryptocurrency. Let's revisit why crypto was created in the first place. The foundational ethos of decentralization challenges institutionally consolidated power structures - banks, MNCs, governments, (a.k.a.: the oppressors) and their tools.
Decentralization is a term that means different things to different people. On the most extreme end, it is anti-establishment and for the people. In high income countries, cryptocurrency is just another tool for making money, spending money, trading value. In places where immoral governments, banks and power brokers create even greater instability and inequality, crypto is far more important.
This is why finance leaders and elected officials put off talking about crypto all the while privately investing in it. They said it's a scam. They've said it's about money laundering or a Ponzi scheme. Yet the ones have embraced it throughout realize that there are far too many people around the world who have limited access, who have been cheated through international remittances, those who’ve had bank accounts emptied for political dissent, who had their family land grabbed, who’ve been exploited by lenders and employers.
We know political conflict is real. We know genocide is happening. Now think about how and why those in power are funded. Governments and large banks got richer as wealth disparity has increased. Traditional media and headlines reinforce doubt because their financiers and shareholders are the icons of big business. But fear does not exist in this dojo.
Blockchain solutions for digital identity and universal payment currencies provide opportunities for financial independence. NFTS are about community more than any collectible. Which is why defining the value exchange between creator/ merchant/ brand and collector/ fan/ consumer is important. When we help NFTs realize their full potential, they will be used by every industry, every sector, all over the world. Let's contribute ideas, spread knowledge, share resources and educate one another about what Web3 is all about: ownership, access, empowerment, inclusivity, accessibility and fairness.