THE RISE OF DROP CULTURE
Brands such as Supreme, Off-White, and Bape all have one thing in common: exclusivity. Drop culture can be defined as the release of a limited edition product with little to no advertising or marketing. Exclusive streetwear fashion brands have built their entire business models around this culture. The combination of drop culture and celebrity marketing has allowed many streetwear brands to sell out of almost any exclusive item. Due to this surge of demand, consumers are willing to pay higher prices for products that are perceived as exclusive or scarce. For instance, when Supreme dropped their exclusive Supreme branded crowbar, many collectors were willing to wait in line for over 10 hours to purchase the limited edition item. Some were even willing to camp out overnight. As these brands have shown, the exclusivity and scarcity of a product can significantly increase demand.
More recently, emerging live streaming marketplace platforms have taken drop culture to the next level. One of these platforms, NTWRK, allows users to watch live shows in exchange for lottery tickets that enable them to participate in drawings of exclusive hype brands such as Yeezy or Louis Vuitton. Users can also shop for exclusive drops, rare art, and collectibles directly through the app. Another similar platform, Popshop Live, also allows users to participate in live shows where they can purchase featured items directly from the livestream. While these online platforms have been successful in their monetization of drop culture, they still lack elements of exclusivity that have so far only been attainable in the physical world. reBASE, however, changes this.
UNDERSTANDING THE UNIQUE UTILITY reBASE WILL BRING
reBASE bridges the unique benefits of drop culture and NFTs. Just like how SNKRs, GRAILED, and NTWRK have created their own marketplaces for exclusive drops and have captured the lucrative effects of drop culture, reBASE is expanding drop culture in the NFT market. Unlike these platforms, reBASE boosts the effects of drop culture by tapping into the advantages of exclusivity that have traditionally only been possible in the real world. Through geo-minting technology, reBASE is able to increase exclusivity and desirability of NFT projects by only allowing users who are physically present in certain areas the ability to mint NFTs. Furthermore, geo-minting technology enables physical interaction as well as digital interaction for users by connecting the real world to the metaverse. By bridging real drop culture to the metaverse, reBASE will bring new life to how consumers fundamentally interact with the world of NFTs.
reBASE Official Website: rebase.gg
reBASE LAND: app.rebase.gg