How Brands Can Use Web3 Integration

How Brands Can Use Web3 Integration

Is your company preparing for Web3? Are you unsure of the best ways to organize events for customers? In this article, you’ll learn why Web3 marketing necessitates a departure from conventional web-based marketing methods and how to set up a team that will successfully guide your company ahead.

Why NFTs and the Metaverse Are Important to Brands and Businesses

Web3 technology, metaverse technology, and everything that each of these technologies enable…

Some individuals will tell you that relying on or investing in these technologies is reckless and that they won’t be around in the future. The same kind of mistrust was present when several new and innovative technology first emerged in recent times. The internet, websites, emails, eCommerce, and social media are now ingrained in every aspect of our everyday life. It is true that Web3 and the metaverse are still in their infancy. We must give them both time to develop near one another because they are both in their infancy. But if you take a careful look at what’s going on, you’ll notice that there are already far too many indicators that the internet will eventually incorporate these technologies.

Facebook’s name was changed by Mark Zuckerberg to Meta.

Square’s name was changed to Block by Jack Dorsey.

Introducing Starbucks’ Web3-based rewards program.

We have a chance to use what we’ve learned from recent history. Most businesses didn’t take social media seriously in the early days. Control it. An intern, usually a young person, was instructed to create a Twitter or Facebook page. Go berserk, of course. Social media marketing strategies started to have results, and people started to pay attention. A budget was set aside for tiny, nimble social teams that frequently operated independently of the rest of the marketing team. Social media has become a significant component of how we market to people as it has merged with how everyone uses the internet. The social team was integrated into the larger marketing team. Every marketer today who is worth their salt knows how to use social media for marketing in some capacity and takes social media into account when creating their overall marketing strategies.

Your company won’t be using Web3 and the metaverse exclusively for marketing in ten years. These technologies will be used by you in marketing, sales, human resources, and other areas. The most crucial thing to keep in mind as you begin using these technologies is that everything is now being constructed. Recognize that you are a pioneer in the field by utilizing Web3 and the metaverse at the time they are being constructed. You must approach these endeavors with curiosity and an open mind because there isn’t yet a map. Some of the wildest, grandest hopes that brand managers and marketers have for building consumer loyalty could come true in this area. You’ll witness some spectacular accomplishments as well as some egregious mistakes because using and learning new things entails both.

1: Formatting Your Web3/Metaverse Team

You’ll need a team with four different skill sets to start. Native crypto experts are required. Seek out those that actually comprehend cryptocurrency, work in the field, and spend their entire day playing in it. The metaverse is a spatial internet, so you’ll need people who can think in three dimensions. We come to this because its virtual experiences are more immersive than anything we’ve had up to this point. Gamers. The young people who have received criticism for playing video games excessively will probably be among the most employable in the future. If you have children who suit this description, consider offering them a summer internship in your department.

Last but not least, you’ll need a steady hand that is knowledgeable in marketing and has been with your company for a long time. Much of what marketers do now will have parallels in the metaverse, which will parallel reality. It is the direction sponsorships, marketing, licensing, direct marketing, and eCommerce are going. 

The pioneers of social media marketing now have the chance to collaborate with those who will usher in the era of marketing in Web3 and the metaverse, just as seasoned, open-minded marketers teamed with younger individuals who understood social media when it first arose.

2: The Upside-Down Value Model and Web 3.0

Over the past few years, consumers have grown more sceptical about and disillusioned with the internet and Web2 technology.

On Instagram, Twitter, and Facebook, people spend time each day creating and interacting with content. These platforms then charge advertisers for the right to show their adverts to those users. It appears that the commodity being exchanged is the individuals who produce the material.

This is a great service that is really beneficial from a marketing standpoint. But from the viewpoint of the individuals, the model is seriously flawed. They aren’t compensated even though they produce the majority of the content. 

Web3 is introducing a new ethos and using a new set of principles designed to find methods to offer something back to these artists.

Imagine receiving a digital token for each minute spent on Facebook, as well as for each like, remark, post, and image. Imagine that the token has intrinsic worth now. You have two options: either sell it for cash or keep it.

You will continually be motivated to produce more content and engage with the platform if Facebook returns a portion of its advertising revenue to you. This is because you will be paid for it.

Influencer marketing is affected by the Web3 paradigm as well. These days, when you hire an influencer to produce social media posts that advertise your items, they only provide the content. They have received payment, thus they are probably not recommending your goods to their friends and family.

Imagine if, through a tokenized business model, that influencer truly owned a portion of your early company instead of just receiving a one-time payment. They’d be encouraged to keep promoting your products rather than abandoning them once the postings were made because doing so would let them benefit financially from your company’s success.

3: Plan Your NFT Loyalty Project

The strongest customer loyalty platform your company has ever had may be NFTs. They represent the future of fandoms and interacting with followers of your brand.

However, starting an NFT project merely because you can is not a good idea.

This project differs from marketing initiatives that have a beginning and a conclusion. Although launching your NFTs may appear to be the project’s conclusion, it is actually only the first step.

If you want the project to be successful, you need a long-term game plan for resolving all community concerns at every stage of the project. Consider your approach to serving your community. What value will you add to your community and how will you help? How will you get them to recommend you to others? How will you maintain their interest in participating in the community and keep them engaged?

4: Using the Stella Artois Zed Run NFT Project as an example,

According to Lindsey McInerney’s 2020 thesis on Web3, the metaverse, NFTs, and cryptocurrency for brands, companies that replicate what they do best in reality in the metaverse will succeed. It is reasonable to assume that brands that fail to maintain that parallel will have trouble.

An excellent illustration of how to plan and carry out a parallel experience is the Stella Artois Zed Run NFT experiment.

Zed Run is a popular premium sporting event in the metaverse that enables users to purchase, exchange, and sell virtual horses using NFTs. Each “horse” can be bred, has a DNA lineage that can be tracked, and can be used for racing.

Lindsey thought Zed Run seemed like the ideal spot for Stella Artois to dip its toes into the metaverse because in actuality, Stella Artois sponsors exclusive horse races like Wimbledon.

 Stella Artois and Zed Run teamed together to auction 50 bundles of three assets over the course of three days in the summer of 2021. Each bundle included with a Stella Artois skin, a commemorative artwork, and a digital NFT horse (a jersey that the horses could wear in the game).

Then, NFT owners may race their horses on a distinctive 3D course based on the 2D Life Artois dreamscape.

 Unquestionably effective, the experience proved the premise that these technologies can be used to connect with fans and customers in a way that strengthens the consumer-brand relationship.

 The Fortune 500 brand was recognized as the first to take cryptocurrency, the metaverse, NFTs, and Web3 seriously after garnering hundreds of millions of online and offline media impressions in the first few weeks.