Web3 is rapidly changing the way traditional brands need to approach the digital landscape, and understanding its values and principles is crucial for success. Many high-profile brands, like Porsche, have struggled with their Web3 ventures, highlighting the need for deeper understanding and community building within the Web3 space.
In this insightful article, Anouk Morin discusses the lessons brands can learn from Porsche’s failed NFT launch. Morin emphasizes that companies must first understand the Web3 space and its unique rules, citing Nike’s gradual expansion and acquisition of RTFKT as an example of a successful approach. Furthermore, the article highlights the importance of building a strong community and maintaining active engagement with the audience, which was a crucial factor that Porsche overlooked.
As we consider the implications for the marketing industry, it’s clear that traditional brands must not only adapt to the Web3 environment but also commit to its core values. This involves providing real value and utility through innovative projects and focusing on long-term digital revolution rather than short-term gains. Embracing Web3 as a means of expression and community building will ultimately lead to stronger connections with audiences and a more sustainable presence in the evolving digital world.