Leading cat food brand SHEBA® accepted into inaugural Angel Labs cohort to accelerate Web3 initiatives
Hope Grows, the world’s largest coral reef restoration programme, by cat food brand SHEBA® has been accepted into an inaugural accelerator cohort with Angel Labs. Angel Labs is a Web3 accelerator that is helping to take 16 experienced operators, with NFT-enabled projects, from concept to mint.
This new partnership is the latest stage of the Hope Grows campaign by Sheba and creative agency AMV BBDO a year after Hope Reef was unveiled in Indonesia. The focus is on restoring more than 185,000 square meters of coral reefs around the world by 2029.
Since then, coral cover on Hope Reef has reached 70% and fish abundance has increased by over 300%, with new reef restoration builds also underway in several other locations including The Great Barrier Reef. It is hoped that with the launch of these new NFTs that SHEBA can build a passionate, engaged community of ocean advocates who are empowered to help accelerate coral restoration efforts across the globe.
Chris Mondzelewski, Chief Growth Officer for the petfood brands at Mars, said: “We saw a huge response when we launched Hope Grows from pet parents concerned over ocean health and wanting to get involved in restoration efforts themselves. Entering the world of non-fungible tokens (NFTs) gives those concerned the chance to make a real difference alongside us and is a real step change in the way we look at marketing our brands.
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The SHEBA®, Mars Digital Technologies and AMV BBDO teams will spend the next 10 weeks working closely with the experts at Angel Labs to define their NFT strategy while learning about the Web3 space with industry leaders and cohort members.
Shubham Mehrish, Global Vice President, Digital at Mars, said: “NFTs, blockchain and other web3 technologies have to potential to completely transform computing, communities, and commerce. We feel the Hope Grows programme and the SHEBA® brand purpose gives us the perfect opportunity to accelerate our learning in this space.”
The launch of Hope Reef put the urgency of coral loss in the spotlight for the first time in the pet food aisle. Using innovative “Reef Star” technology, it demonstrates how coral can be regrown to improve nearby marine life. The investment in NFTs will ensure that 100% of the future Hope Grows NFT project proceeds are re-invested in supporting coral reef restoration projects.
While the market for PFP NFTs may be saturating, Angel Labs believes the real potential of NFTs hasn’t even started to emerge. They are looking to speed the NFT evolution for scalable businesses run by amazing founders.
Cheryl Kellond, Managing Director, Angel Labs said: “The companies we are working with are defining the next phase of Web3 and NFTs. We are excited to partner with projects with deep technology, long-term vision, and the ability to build engaged communities. With a strong foundation, we can help them push the envelope on how to use these rapidly evolving technologies to amplify their vision and impact.”