Athletic Greens’ Kat Cole embraces blockchain as part of the ‘property economy’

Founded in 2010, Athletic Greens has built its business on traditional partners, creators, influencers and thought leaders.

Now the nutrition company is gearing up to take the concept of the ‘property economy’ to the next generation – with blockchain, the technology that is fueling the rise in popularity of cryptocurrency and non-fungible tokens (NFT ), also known as Web 3.

“It’s so easy for this topic around Web 3, NFTs, blockchain to feel intimidating and overwhelming,” said Kat Cole, president and COO of the direct-to-consumer subscription company.

“There is a way to thoughtfully move a business from Web 2 to Web 3 by taking a step back and appreciating what it is essentially, in part, the economics of ownership,” Cole said. , a Cinnabons and Hooters alumnus, to Yahoo Finance in a recent interview. .

Cole previously served as President and COO of Focus Brands. She started at Athletic Greens this week and plans to play a role in the emergence of Web 3 at the company, which she says is in keeping with her story.

“Giving people a greater share of the value they create is new to some companies,” but it is “nothing new” for the 11-year-old company, Cole said.

Over time, she hopes to present an opportunity for the ordinary person to have a digital asset that commemorates brand loyalty, recognition and rewards the consumer. In the long run, however, she is optimistic it could help expand her customer base globally.

“As a mainstream brand, there are many opportunities to be a fan of other health, wellness and nutrition related projects, and to collaborate in a way that is a web structure 3” , said the leader. Yahoo finances.

Blockchain technology “gives us more traceability in the world over time and builds our consumer communities the Web 3 way,” added Cole.

(Courtesy: Athletic Greens)

Other opportunities that Cole says may present themselves in time include tokenization and NFTs “which mean meaning and recognition among our consumer base.”

However, the brand – widely known for its flagship product AG1, an all-in-one daily health drink – will take time to establish its strategy to enter this market, Cole said.

“We’re going to first approach it in a thoughtful way as fans and customers, and then bring our community on the journey … listen to them and help them co-architect this with regard to the consumer side of Web 3” , she added.

Brooke DiPalma is a producer and reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email him at [email protected]

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