What is L3mon?
L3mon exists because of Lyrical Lemonade, but it is an off-shoot from the original company, not a central branch. What is Lyrical Lemonade? A multimedia company that works in music and festivals, film production, beverages, and merchandise.
It is a web2.5 company, which means a company that is based on the internet as we know it, but it uses a lot of the tech that is in the realm of the blockchain, now also known as web3.
L3mon was formed as an NFT initiative by the good people at Lyrical Lemonade, who strive to play with all new and revolutionary tech for the betterment of music, festivals, and of course, humanity. The guys behind L3mon put a lot of time and effort into designing 500 NFT milk cartons, which went on sale to great success.
Those who own an NFT carton get extra unique benefits, but not just from the knowledge that they are part of the Special 500. Here are two keys points
- Having a carton NFT gives you the right to its utility, meaning you can use and display it, but you don’t own the rights to it.
- Having a carton is like being in an NFT members’ club that links to music and festivals and other perks like free tickets to festivals.
How is this possible, you may ask? Let’s quickly look at Lyrical Lemonade’s adventures from web2 to web3 to see how L3mon is in web3.
How is L3mon in Web3?
As L3mon is an NFT collection with Ethereum, it is part of web3. Web2 is the internet as we know it, but web3 is a way of hosting data using blockchain technology, not the HTTPS protocol we all know and use.
How does this link to L3mon? Well, in web2, how do you create a community that is fully engaged in what you are doing? By using the tech of web3, the community who use web3 services are part of the system itself, not users of a service as they would in web2.
The space between web2 and web3 is web2.5, an HTTPS-based business that utilizes the best of web3 innovation as part of its service. NFTs and cryptocurrencies are two examples of web3 innovation that web2 companies use, which pushes them into the web2.5 category.
In L3mon’s case, going into web3 territory was not about making money. If it were, those 500 cartons could have been 5000, and millions of dollars could have been made. L3mon arose to use web3 tech to create a dynamic community and reward its members for their support.
Digital Depths and Web3 Opportunities
L3mon allows community members to participate in the experience, not be used for money-making to plunge into new digital depths.
Lyrical Lemonade is its own thriving business and community of music-minded individuals. L3mon is an example of ‘what can we do in the realm of NFT that can be fun and potentially beneficial’ while not altering the course of the entire main business’s future.
The cartons went on sale in April, and now that this is done and the community is up and running, we should carefully watch what L3mon is up to with interest. Is this NFT on Ethereum a fad that will run out of steam, or will it be an example of an excellent business move and the future of communities and their collectibles?