1. the first wave of brands = brick and mortar type stuff. something like coca cola which is 139 years old, and you could only purchase it in physical shops and you probably only saw like physical adverts for it. 2. the second wave of brands = the internet. tonnes of examples out there, but essentially instead of having to go to a physical store, you could simply purchase what you wanted from a website. 3. the third wave of brands = web2 social media. this is different to the above, in that web2 platforms such as ig, tt etc are used to promote products, usually by influencers...it's sort of like the new form of "tv ads". something like Prime is a good example here which caught a lot of the beverage industry off guard when it launched in 2022. 4. the next wave of brands will be web3/crypto. unlike all of these examples, crypto allows brands to reward its consumers and early supporters in a way that is actually meaningful and interoperable. loyalty points have existed for decades but are pointless because they are not interoperable, completely centralised and have unlimited supply. liquid tokens completely change this and are a powerful tool if used correctly and honestly (the reason why many crypto projects have failed is because founding teams are bad actors). i strongly believe this is the next iteration of brands, and crypto regulation globally is changing rapidly to be more conducive to it, especially in the US. every company and brand will be trying to figure out how tf they use web3, but essentially they will always be behind compared to a genuine, grassroots crypto-native project (because when big brands come in everyone just assumes cash grab, and it usually is). as a result, this is what i think the major opportunity set is, and i think tomorrow's biggest brands in the world will be those that are truly crypo-born today. a few examples out there, but of course, i am always going to champion $REKT.