Plug and Play’s Crypto and Digital Assets vertical, which launched in November 2022 in Silicon Valley with founding partners Visa, Franklin Templeton, AllianceBlock, INX, and IGT, is now coming to Paris, France.
The program aims to help consumer businesses, retailers, and brands move from Web2 into Web3 by educating them on the full capabilities of blockchain technology and introducing them to bespoke partnerships.
“Having launched our Crypto and Digital Assets Platform in Silicon Valley, I am thrilled to drive our expansion into new markets like France where Plug and Play has built a strong ecosystem alongside key players like L’Oréal, PVH, Lacoste, etc. during the past six years,” says Maximillian Jungreis, Head of Plug and Play Crypto and Digital Assets. “We have a proven track record of bringing enterprises from Web2 into Web3 by helping them embrace the right technologies and connect with the right teams at the right time to fully capitalize on the key opportunities.”
The relationship between Plug and Play and blockchain technology is a long and fruitful one. It began in Silicon Valley, but has now expanded across the globe in different forms alongside the development of the technology and its applications.
Going back to the start, Plug and Play actually engaged on an institutional level with Bitcoin, the first true application of blockchain technology, in 2013 by mining cryptocurrency in their own data center. Through the Bitcoin accelerator launched in 2013, Plug and Play started investing $25,000 into blockchain startups, which became the precursor to the fully-fledged Fintech program that launched in 2014 alongside enterprise partners Citibank, Intuit, Deutsche Bank, and USAA.
In 2022 Plug and Play again demonstrated its serious conviction and passion for blockchain by spinning it out of Fintech and unveiling the Crypto and Digital Assets vertical. To date, Plug and Play has invested in over 50 startups in this space, including Blockdaemon, Stellar, and Evertas.
After researching and addressing the core fundamentals of blockchain technology, Plug and Play increasingly began to work with its partners on identifying high-value, bespoke use cases for their particular businesses and strategies. For instance, Plug and Play launched a Brand and Retail platform in Paris in 2016 and invested in Ownest, a startup that applies blockchain technology to track responsibilities along a company’s supply chain. As the primary innovation hub for brands in Europe, Plug and Play has been at the forefront of not only uncovering new technologies but also helping existing companies leverage them.
“Since the early days of Plug and Play France, blockchain startups have been an integral part of both our Brand and Retail and Fintech programs. Blockchain has become increasingly more prevalent over the years, particularly over the past 18 months. Exciting use cases with Lacoste, Emperia, and Arianee have been launched with the support of Plug and Play, and we are excited to do even more with our partners by establishing the Crypto and Digital Assets vertical in Paris,” adds Christian Kunz, Co-Director of Plug and Play France.
At the beginning of each program, Plug and Play presents its partners with carefully selected startups to help them reach their business goals. This collaborative approach gives corporations from various industries the opportunity to network, share knowledge, and gain access to a unique ecosystem of VCs, mentors, and startups.
In addition to Plug and Play’s partners’ specific interests, the Crypto and Digital Assets program has five broader focus areas:
Metaverse: (1) Engaging Consumers through Immersive Environment (2) Becoming a Direct-to-Avatar business
Infrastructure: Onboarding consumers to Web3
Engagement and loyalty: Engaging users through Tokenized Loyalty Programs.
Marketing and Managing Tokenized Communities
Compliance, Legal, and Cybersecurity implications: Being ready for Compliance and Cybersecurity risks in Web3
The Crypto and Digital Assets Paris program focus will be dedicated to Web3 applications in consumer enterprises. Selected startups will have the opportunity to be in direct contact with relevant business units and position themselves as experts in front of corporations that have identified a need for their solution.
“Being part of the Plug and Play program was incredibly valuable for GEEIQ. Firstly, it enabled us to meet other start-ups at a similar stage in a similar space, some of which we have developed into long-standing relationships. Secondly, the business development generated as a result of Plug and Play has resulted in the signing of one of our biggest subscribers,” states Charles Hambro from GEEIQ. “We couldn’t recommend it highly enough!”