We are in the midst of a digital revolution. Technology and the world wide web are transforming at breakneck speeds. To properly entice tomorrow’s consumers, marketers must familiarize themselves with budding trends. In this week’s video, Joel Comm, CEO of The Nifty Company Inc., offers a crash course in the changes revolutionizing marketing.
He explores topics such as blockchain, social web, NFTs, play-to-earn, augmented and virtual reality, and the metaverse, offering definitions and explaining their relations to marketing. NFTs, in particular, give brands a new, exciting method of engaging and rewarding consumers. These digital tokens are the ultimate loyalty card. They can take any form: digital or physical goods, real-world experiences, or even memberships. For instance, after acquiring the digital company RTFKT, Nike released their own interactive NFT. They offered RTFKT members a seemingly inconspicuous black box that evolved and changed as users solved riddles and puzzles.
Joel defines Web3 as users owning content. While Web1 was about reading content and Web2 involved reading and occasionally writing content, Web3 puts ownership in the hands of consumers. Marketing campaigns must adapt to this change in ownership if they want to thrive in this evolving Web3 environment.