Habbo, once renowned as Habbo Hotel, joined the Web3 space with an NFT initiative in 2021. However, the company has now decided to rebrand its NFTs, sidelining Web3 jargon for the more generic “Collectibles”.
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Habbo’s success in Web3
Habbo’s first venture into Web3 was a massive success, witnessing the swift sale of 10,000 unique NFT avatars. Following the successful sale, the company explored the NFT space with furniture and other aesthetic items.
The strategic shift appeared lucrative, and Sulake, the publisher, wasn’t alone in such optimism. 2021 indeed witnessed a myriad of companies joining the NFT bandwagon. However, the next year brought turbulent waters for the broader crypto realm, revealing multiple ventures as mere opportunistic ventures.
Habbo’s venture seemed to hit the mark from an outsider’s perspective, especially given the game’s nature. The essence of the game, which emphasizes collecting items, room decor, and social interactions, perfectly complements the uniqueness of NFTs.
Abandoning blockchain-related terminology
While the company will not be abandoning its NFT assets, it will turn away from using Web3 terms. This pivot is evident in the company’s statement, highlighting a shift in “how we talk about and present Habbo’s NFT items and features”.
The fresh branding will be prominent on their website and social platforms. Intriguingly, it’s also an effort to differentiate the core Habbo from its counterpart, Habbo X. The latter, currently in its alpha stage, is designed around the play-to-earn concept. The Collectibles tag is set to overshadow the Habbo X branding, save for when “promoting Habbo X-specific features and releases.”
NFTs will now be known as Collectibles
Habbo unveiled its decision to revise its “text and terminology” related to Collectibles. There’s also a strategic plan to overhaul how they market and release these items. Crucially, Habbo is taking a page from Reddit and substituting the term NFT for collectibles, detaching itself from terminologies such as “Web3” and “blockchain” in most of its promotional content.
Yet, it’s crucial to understand that Habbo isn’t forgoing Web3’s foundational technologies. While the nomenclature may shift, the essence remains. The so-called Collectibles are, in essence, NFTs.
This transformation underscores a larger trend, shedding light on consumer bewilderment over the plethora of Web3 technologies. While Web3 tech is here to stay, it seems companies are wary of the reputation the term now carries.
Regardless, even if this idea seems counterintuitive, it’s quite possible that as NFTs become increasingly more present in our everyday lives, we will stop calling them NFTs. The underlying technology will be hidden from the public, so people will be purchasing and trading in-game items, tickets, and real-world assets without knowing they are using NFTs.