Recently, there have been many innovations in the technological world, with Web3, blockchain, NFTs, and the metaverse as prime examples. In this week’s video, Lisa Teh, co-founder of Mooning, discusses advances in Web3 and the metaverse, explaining why and how brands should incorporate them into their marketing strategies.
First, Teh provides a guide to Web3, blockchain, NFTs, and the metaverse, defining them and highlighting their key points. A significant distinction of Web3 is that it allows users to read, write, and own content. This change puts the power in the hands of creators through things like NFTs, enabling them to receive royalties directly from their work. In comparison, Web1 was a read-only version of the internet, which treated users as passive consumers. Web2 considered users as content creators but put the power of ownership in the hands of companies. Next, Teh explores the innovations that Web3 has created, specifically blockchain and NFTs. Their use is growing: companies like Dolce & Gabanna, Prada and Coca-Cola are dabbling in more NFT campaigns, while blockchain entices users with safer, decentralized ledgers