FILE PHOTO: The logo of German sports goods firm Puma is seen at the entrance of one of its stores in Vienna, Austria, March 18, 2016. REUTERS/Leonhard Foeger

Puma is entering the world of Web3 with its new projects

Recently, reports from prominent Twitter handles such as Blockworkds and WatcherGuru surfaced about Puma entering the world of Web3. Puma is going to work in collaboration with Web3 companies to launch its new project. The reason for this rumor is Puma’s recent job posting on LinkedIn. The company has been looking for a temporary manager for marinating a “digital culture” and also has adequate knowledge about NFTs, Metaverse, and DAOs.

What is Web3?

It is important to know Web3 to really understand the depth of this report. Currently, the internet or platforms we use are Web 2 platforms where the companies owning them are controlling it. For example, Meta or Google is controlled by a few entities, and users have almost no say in them. Web3 changes that with its model where the users will be owners of the platforms or protocols used by them. They can own tokens of the project and exercise their rights over any decision of the project.

Since Web3 will be decentralized, it will solve the problem of data collection from users. At the same time, one will have control over what they use.

Puma entering the world of Web3, NFTs, and Metaverse

Puma is entering the world of Web3, NFTs and Metaverse
Image Source: Medium

Puma looking into NFTs and the Metaverse could mean that they might release their own NFTs that could sell for a ton of money. At the same time, the company could open their store in the Metaverse platforms and get even more clout. It is one of the largest athletic retailers in the world, and the company is bound to compete with its competitor Nike in this regard as well.

Since we have already seen Nike do things in these two fields, predicting what Puma will do isn’t very difficult. But I am not sure what might or are the Web3 projects that Puma could be interested in building. So, we will just have to wait for that.

What are your thoughts as reports suggest that Puma is entering the world of Web3? And do you have any idea of what they could do in the same field? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

Also Read: Ric Edelman predicts America’s Bitcoin adoption rate in 2022