Why Brands Have a Great Opportunity with Web3

Are you looking for real-world examples of companies that have used token gating, collaborated with other NFT projects, or produced virtual items for the metaverse?

This article will show you how companies are now incorporating Web3 into their marketing and business processes.

Why Should Brands and Businesses Think About Building in Web3?

Web3 is the next step in internet evolution, and businesses and consumers will inevitably adopt it. The Web2 tech behemoths are already transitioning to Web3: Twitter and Discord have integrated themselves into the center of the Web3 discussion; Instagram and Twitter enable users to use NFTs as profile photographs. Facebook changed its name to Meta to showcase its role in Web3 and the Metaverse. Beyond creating and publishing NFT projects, businesses of all sizes will be able to communicate with their consumers in a variety of new ways thanks to Web3 technology.

Businesses will be able to build more effective incentive or loyalty programs thanks to Web3 technologies. In other circumstances, member crypto wallets will be used to better analyze user behavior in those programs and other consumer experiences, much as how companies already utilize tracking and cookies in Web2. Web3 is still quite young, and this is true. Even if mainstream adoption probably won’t happen for another three years or so, businesses who enter these markets first will stand to gain the most. Starting the process of becoming ready to build for Web3 is always preferable to waiting until one has a thorough understanding of it.

A Strategy to Assist Your Company Enter Web3

Many brands are currently caught in a catch-22 situation. They don’t want to invest resources in Web3 development when the customer base is still limited, but more customers won’t enter Web3 if no firms are setting up shop there. Just as they did at the start of social media, trailblazing companies and brands will need to pave the way. Your company can set the standard in a number of ways.

1: Participate actively in the Web3 space

Knowing how Web3 functions will help you to explain it to your audience in the best possible way.

First, create a cryptocurrency wallet if you haven’t already. The two most straightforward cryptocurrency wallets to use initially are Coinbase and Metamask, both of which are accessible through the Apple App Store and Google Play.

Then, after your wallet is configured, begin exploring.

• Participate in a free mint.
• Invest in cryptocurrencies.
• begin trading and doing business.
• discussion forums like Clubhouse or Twitter Spaces

From there, you can spread your knowledge by explaining it to your neighborhood.

Many of your audience’s questions will probably be similar to your own, and they will value responses from someone they already know, like, and trust enough to conduct business with. After you respond to those inquiries, you can move forward.

2: Inform Your Current Audience: Use language that your audience will understand.

Slang and technical language are definite ways to turn off your readers. In addition to being difficult to grasp, Web3 jargon is no longer of interest to the majority of the audience. People will lose interest before you make any headway if you start talking to your audience about things like “smart contracts” and “the blockchain” without explaining what those terms mean or how your clients will profit from them. Plan how to leverage the Web3 space’s concepts to develop experiences or solutions that your audience will find useful as you learn more about it. Then, use language your audience is familiar with to lead them to and through these experiences or solutions. A Web3 pilot team should be established at this time to assist you in creating your vision and plan for transitioning to Web3. Speak with your team members; you may have a few early adopters who are prepared to start discussing strategy and move your brand’s entry forward.

3: Introduce Web3 to Your Existing Audience With Your Own Release

Create and release something you can give them for free, then assist them in setting up a wallet and importing the token you are giving them. This is an easy approach to introduce your Web2 audience to what you are doing in Web3. By doing this, you can put a token in their wallet. By designing experiences that can only be accessed by holding the token you gave them, you can aid in their adoption. From there, it becomes much simpler to encourage speedy adoption of Web3 technology. It’s not necessary for the experience or benefit to be grand, elaborate, or sophisticated. Simply identify a Web2 or real-world connection with your audience, and then imagine how a Web3 version may look.

For instance, you might allow users to connect their wallets to your website and token-gate special sites or content instead of asking them to enter a username and password to access particular areas of your website.

4: Collaborate With Current Web3 Communities

There are already devoted Web3-based groups that aim to improve the value and utility of their membership. Even if a formal relationship is not what you are looking for, you may still reach out and start a conversation with members of communities that seem like a good fit for your company. Many project heads are open to collaborations, partnerships, and cross-promotions where both communities stand to gain because the culture of Web3 is collaborative in nature. For instance, Adidas collaborated with the existing Bored Ape NFT project to release the Adidas Into the Metaverse NFT line when they joined the Web3 market. Anyone in possession of one of these NFTs had the advantage of being able to access a certain page on the Adidas website and exchange their NFT for new goods.

5: Use Web2 and traditional marketing campaigns to spread the word about your Web3 experiences and projects.

One of the main factors influencing consumer adoption of Web3 will be your marketing since doing so will increase the number of concrete examples of Web3’s advantages for your clients. More consumers interacted with those profiles as a result of businesses integrating their Facebook and Twitter accounts in television advertisements. Similar consumer acceptance will occur as your company integrates and makes references to its Web3 projects in its Web2-based marketing. This is yet another case where you construct it, people will come after you tell them about it.