SOOOUL: Navigating the Hype Cycle

Dan Wadhwani, Eugene Choi, David Kirsch

Product #:SCG-602

Supplier:Lloyd Greif Center - USC

Discipline:Entrepreneurship

Setting:Luxury brands , Artists, Arts , Cryptocurrencies

Details:Case (PDF) • 19 pages • 2023-11-24

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Internet entrepreneur Awu Chen works to build an NFT-based venture focused on using blockchain technology to revitalize the appeal of craft goods by transitioning them into the digital era. The major breakthrough of SOOOUL’s first year has been forging a partnership with a highly regarded traditional Japanese textile and kimono maker, HOUSE of HOSOO. Together, the partners work to showcase the value of new physical and digital--"phygital"--products and build excitement among collectors interested in Japanese art and culture. Even as he works tirelessly to pioneer a new digital product category, Awu starts to examine other high potential segments for novel NFT offerings.

Learning Objectives

1. Understand the new technology hype cycle and how it affects the chances of new venture success or failure. Distinguish the difference between the technology S-curve and the hype cycle curve. Identify implications for (a) capital, (b) customer acquisition, and (c) value proposition.
2. Identify the choices that entrepreneurs have in navigating the hype cycle and how to make those choices over the phase of the hype cycle. Distinguish strategies by short-term and long-term entrepreneurial plays, and by phase of the hype cycle.
3. Analyze potential applications for emerging technologies and figure out which one to choose.
4. Organize the team and investor expectations for long-term hype cycle strategies.