Since we first encountered the first version of the World Wide Web, also known as Web1, brands have used the Internet to grow and gain awareness. The current development is Web3, where investors, consumers, and brands come together. Web3 has become a collective term for a new and better vision of the Internet. With the acceleration of blockchain technology, crypto, smart contracts, NFTs, and the Metaverse, Web3 has become a mainstream concept, promising the evolution of the static Web version. You are enabled to not only read and write but also to own your content. And that is exactly why Web3 is important for your brand: Web3 gives you ownership of your digital assets in an unprecedented way.
Web3 is everywhere, what is it?
The term has been around for years, but has become fashionable in the last year or so. Instead of a web dominated by big technology companies, Web3 is decentralized, built, operated, and owned by its users. It can take many forms, including decentralized social networks, blockchains, play-and-earn video games that provide players with cryptocurrency tokens, and NFT platforms that allow people to buy and sell pieces of digital culture. It boasts a digital economy with no middlemen.
Consisting of decentralized apps (dApps), the goal is to provide more privacy than you currently experience with end-to-end encrypted data. This revolutionary development will allow everyone to control and own their data without third-party involvement.
This version gives all creators rights to their data, making it easier to monetize their work.
Branding & marketing opportunities with Web3
Many big brands and companies are redefining their strategies for the next web. Web3 leverages the power of decentralization, so the shift of control and decision-making from centralized entities (Instagram, Facebook, Google, etc.) to data owned by users holding their digital identities is now taking place.
As we approach this iteration of the web and digital life as we know it, brands and companies of all sizes and industries are rethinking their marketing strategies to adapt and engage with a new generation of audiences.
NFTs are a great way to bridge from Web2 to Web3
To make the jump from web2 to web3, there’s an important idea that makes it easier to start with NFTs. It’s due to the fact that for many people it’s all about Community, Identity, & Status. Much like the world of conventional branding, people buy NFTs to communicate something about themselves, such as a community they’re a part of, a social group they belong to, or an interest they’re passionate about.
Incorporating NFTs in your branding and marketing strategy
Examples of using NFTs in your strategy are by:
- driving brand awareness and extending reach
- creating new ways for consumers to experience brands
- developing opportunities for exclusive access
- driving loyalty and promoting good causes
Community building is key in Web 3
Like in Web 2.0, generating awareness of a brand to consumers, educating them, and bringing them into a community are definitely still relevant. Content marketing and SEO are still highly relevant tools to use.
Having said that, community building is already seen and understood as the key to success. As I mentioned before, people want to be involved and want to be part of a group. They want to hear directly from you as the founder of the brand, and, most importantly, they want to share this experience in a lively online space with like-minded people that have the same beliefs about NFT, crypto, and blockchain projects, which means that social media marketing, influencer marketing, and content marketing will all become even more important.
NFT collections keep your audience engaged by offering tangible uses for holders, along with different merch drops, whitelists to different NFTs, or tickets to events. As they spend more time in virtual environments, their desire for self-expression and social popularity kick in. Digital artwork is the new luxury. Roblox skins are the new fashion.
Should you follow the buzz of Web3 and implement it into your branding & marketing strategy?
If you believe you’re savvy enough to understand the digital space of Web3, it could be worth your while to explore what it has to offer. The world of Web3 is still relatively new and uncharted territory, so there’s no guarantee that your ideas and efforts will pay off. Nevertheless, Web3 is definitely worth exploring. I would suggest doing some research and finding out if potential rewards can be significant enough to implement them into your branding strategy and grow your brand. But as with any new concept, always proceed with caution, be aware and do some research before taking the leap.
How Dark Blue International can help you with your branding & marketing strategy and Web3 activities
Would you like to know more about this topic, feel free to contact me directly via yustine@darkblue.international. Dark Blue International can help you with:
- Growing sustainable crypto-native communities and developing extensive web3 marketing and branding strategies depending on your needs and focus.
- Providing you with in-depth research reports on various topics ranging from technological developments, emerging narratives, and specific projects and investment opportunities.
- Providing in-depth investment due diligence on your investment opportunities. Thereby, we leverage extensive experience in the VC Industry and Web3 know-how.
Written by: Yustine Alvares
Personal & Business Branding Strategist, Business Mentor, and Multiple Business Owner