The decentralized web — also known as Web3 — gives everyday people secure ownership of their digital lives through the blockchain. Forward-thinking brands are shifting to this new digital frontier, positioning themselves in a consumer market expected to reach nearly $3 billion in 2023.
Many brands have already taken steps to capitalize on Web 3.0 since this is key to reaching consumers in the digital age. A Web 3.0 strategy in place can unlock new revenue streams, increase the efficiency of business processes, and future-proof your brand.
Dibbs: Hello, can you please tell our readers and our viewers a little bit about yourself and who you are?
Dan: My name is Dan Barry. I'm based in Los Angeles and a marketing enthusiast and I'm a technology enthusiast. The theme today for Web3 – I'm deep into Web3 marketing and currently I have a consulting firm and primarily working with companies that are in the Web3 space. Most recently, I was a global president for an international digital marketing company, and my entire career has been either starting businesses where marketing has been a really huge factor. I think every business, marketing is really important. At this particular point in my life, I'm very deep into the Web3 space and enjoying every minute.
Breaking Down Barriers to Mainstream Adoption of Web3: How companies are Making it Easy for Consumers
As brands recognize the revenue potential and value of Web3 technologies, many are hesitant to embrace the ecosystem due to several barriers, including toxic headlines, unclear monetization strategies and the technical and purchasing barriers presented to consumers. The growing popularity of NFTs, Metaverse and other digital ownership-related technologies has companies taking action to break down these barriers, allowing for broader consumer engagement.
Most of us first learned about NFTs (non-fungible tokens) because of their relation to digital art, but the technology is capable of much more. NFTs that function as utility tokens act as a gateway to the new possibilities afforded by Web3 technology. By embracing utility NFT benefits, brands will be better equipped to engage audiences in any industry, from music to apparel and beyond. Let’s dig into some examples of successful NFT projects and how you can implement their lessons into your project.
If you’ve zoned out a time or two while “visionaries” and crypto bros drill into mining, minting, and public ledgers, we understand. To most of us, the bits and bytes of rewiring the internet are like highway construction. We don’t care how it’s done. We want to know where it will take us.
Today, we are revealing a set of NFT utility data and insights after comparing trading volumes from OpenSea’s top 100 collections of all-time with those over an analysis period of 30 days, from October 15, 2022 to November 15, 2022. Analyzing each collection to determine how utility types are evolving, these data uncovered a growing interest in NFT utility types beyond PFPs (profile pictures), particularly content, events, and rewards distribution.
We had the pleasure of working with AirCatch.io last year and, now, the opportunity to pick the brain of one of their Co-Founders, Aaron Stein. AirCatch is self-described as making sending and receiving NFTs (non-fungible tokens) as easy and useful as email, and we couldn't agree more.
From NFTs (non-fungible tokens) of trading cards to virtual pre-game events, sports and blockchain projects have become natural partners in the past few years. Sports franchises have much to gain from Web3, including unprecedented revenue and fan engagement opportunities, and sports blockchain companies are eager to help. Here’s how some sports teams are using blockchain technology to reach new markets.
Especially in this rapidly growing industry, we don’t want you left behind. Below is a comprehensive list of Web3-related jargon and their definitions that crypto bros and fintech fiends have created that you should know to make Web3 as easy to understand as A-B-C.