What is Web3 and why is it important to understand?
Web3 is the next step in the evolution of the internet, where users have more control and transparency is the focus. Unlike today's internet, which is dominated by big companies such as Google and Facebook, Web3 is based on blockchain technology. This means that data is managed in a secure and decentralized way, giving users greater power over their information.
What platforms are used within Web3?
Although Web3 is still new, there are already platforms and technologies that explore its possibilities:
Decentralized ad networks like AdEx and Basic Attention Token (BAT) make it possible to display ads without intermediaries. Users get to choose how much advertising they want to see and can be rewarded for viewing ads.
NFT Marketplaces like OpenSea and Rarible are used to buy and sell unique digital assets. Companies can create special campaigns with NFTs to engage their most loyal customers.
Metaverse Platforms such as Decentraland and The Sandbox offer new ways for companies to market themselves in virtual environments. Here companies can create digital stores, events and showrooms.
DAO (Decentralized Autonomous Organizations) are digital organizations governed by their members via smart contracts. Businesses can use DAOs to build stronger relationships with their customers and communities.
How does Web3 affect marketing?
Web3 creates new opportunities for marketing, especially for large companies. Nike, for example, has used blockchain to verify the authenticity of its products and create unique digital objects that attract customers. Unilever has been testing blockchain to ensure their digital ads reach the right audience.
Is Web3 relevant for smaller businesses?
Right now, Web3 marketing is mostly explored by large companies and early adopters. The technology can be complex and costly for smaller businesses, but it's worth keeping tabs on developments. Web3 may soon become more accessible, offering new ways to engage customers and increase competitive advantage.
Future opportunities in Web3
Imagine being able to create a digital version of your physical store in a metaverse where customers from all over the world can interact with your products and shop without leaving home. It can create entirely new ways to reach customers and strengthen your brand. To take advantage of Web3's potential, you may need a partner to help you develop your digital presence.
Is Web3 for you?
Web3 may be a long-term strategy rather than an immediate priority. But by understanding the technology now, you can be ready to take advantage of the new opportunities as they arise. Want to know more about how Web3 can impact your marketing? Contact us to discuss the future!
