What is Web 3.0?
We must recognize that Web 3.0 will blur the lines between physical and digital realms. Marketers will need to begin thinking about how to engage consumers in this new dimension. Digital Goods is expected to be the new growth driver for many consumer brands. This should be something that all consumer brands should consider.
For example, Nike has trademarked its “Just do It” slogan and their “Swoosh” logo to protect downloadable “virtual good” (computer programs that include footwear, clothing, eyewear, bags, and backpacks, as well as art and toys for online use and in virtual worlds).
The History of Web x.0’s
Since the 1990s, the internet has experienced multiple phases of development.
We know from Tim Berners-Lee, the original creator, that the internet was meant to be a “collaborative medium”, a place where people can meet, read, and write.
Web 1.0 was a great step forward in delivering that promise.
Imagine Web 1.0. was mainly made up of static websites. It is easy to set it up and then wait for visitors to consume the content.
Web 3.0 is here to Blow you Up!
It will transform our internet experience and provide the next stage in Tim’s vision, a place for people to meet. This time it will be more than words on a screen.
Web 3.0: It’s the blockchain, crypto, NFTs, DeFi, the Metaverse, and all that stuff.
Forbes claims that Web 3.0 will make the internet fairer by allowing individuals to be “sovereigns.” (No, this is not the woman who refused to wear a mask because she claimed to have been a Sovereign).
True sovereignty means being in control of who benefits from your time and information.
Web 3.0’s decentralized Blockchain protocol will allow individuals to connect to an Internet that they can control and receive proper compensation for their time, data, and effort.
This puts us closer to Tim’s vision of “no central authority is required to post anything… there is not a central controlling node and so no single point for failure… and no “kill switch.”
It sounds liberating, doesn’t it!
This is precisely Tim’s philosophy. Web 3.0 has strong Decentralization concepts.
Imagine an application that is not delivered from corporate servers, but rather resides on independent Nodes distributed across many servers owned by the public. This is what we call a decentralized application. These apps do not rely on one entity to create and maintain the infrastructure. Instead, they use P2P networks and blockchain technologies (remember Napster in the 90s). These technologies allow for the creation of Content to be democratically made and owned and can protect against an individual corporate entity closing it down.
However, not everyone may agree with this statement.
Listening to Mark Zuckerberg speak about the Metaverse, it seems that his focus is very much on the Experience of Web 3.0/the Metaverse. This implies a deep integration of virtual technologies, which will allow brands and marketers to build connections with consumers through digital life.
The more libertarians among us believe that Web 3.0 should be considered an organic construct and not left up to large corporations to dictate.
Meta (Facebook’s new monicker), is creating the Disneyland equivalent to the Metaverse, where corporations control every aspect of the experience.
In reality, Disneyland must be built on a piece of land. That “land” would include some kind of Blockchain infrastructure such as the Ethereum network, which is decentralized and provides ownership rights.
Marketers find it more difficult to navigate complex technology and copyright protection issues.
Boom for Content Creators!
NFTs have been all the rage in 2021 with record-breaking deals for preliminarily unknown artists. And in case you do not know, an NFT is nothing but a Digital Good (but one with provenance erected into it).
Now, this is a boon for Content Generators, as you can be assured that you’ll be fairly compensated for your content wherever it might live. And if you see your brand from the perspective of content- also that is a good thing.
Content Generators will always get their due no matter where on the Metaverse an NFT ends up. As a brand, you should be taking the lead from Nike and allowing about how your brand and its products will manifest themselves in the Metaverse.
Some Web 3.0 Digital Marketing Ideas
More and Better Data
Web3.0 being a blockchain will provide us with more open access to data. Also, as a marketer, you will find useful information within these massive data stores that will aid in understanding consumer behavior and preferences.
Stop thinking about developing apps for your business, but instead think about ways to start creating DApps (deCentralised Apps).
Publish limited edition Branded content as NFTs
Blockchain technology lets you make limited edition content available as NFTs and distribute them to your top brand ambassadors.
Use creator coins to reward customers and advocates
You can also develop Coins that you could redeem to reward your loyal customers.
Pay people to consume your content
Through Cryptocurrencies, you can also pay users (with minimal transaction costs) by sharing or consuming your content. Utilizing Brave Browser, this is possible today.
Hold your event in a Metaverse
As I mentioned in my previous blog post about the Metaverse you can host your events for marketing through a platform like Decentraland and delight your clients with a fresh experience.
Some of these suggestions might not be appropriate for your business at the moment but the key isn’t to pursue everything right now (even although some brands like Nike, Reddit, and Sotheby’s are).
The idea is to start to learn about Web 3.0 and the new possibilities it opens up and then begin considering ways to achieve better results and better things using the new capabilities.