Web3 is not just the future; it is the present. This new era of the internet has the potential to expand online ownership and authenticity beyond the control of corporate gatekeepers. Ben Plomion notes that while there are many articles that talk about what Web3 means for businesses, few provide ideas on how to incorporate it in your brand. This article talks about the three things that brands can do to get on board with Web3 include using utility NFTs, token gating some of their most sought-after creations, and building the blockchain into their business.
Utility NFTs are tokens that offer access to something with intrinsic value beyond that of the token itself. They can be used to access an exclusive server, vote on stadium and merch designs, or interact with a digital re-creation of a famous historical figure. Token gating sought-after creations can turn customers into long term community members such as some brands that provide fans with exclusive looks at up-and-coming projects/products. Additionally, by building the blockchain into their business, brands can benefit from the decentralizing power of Web3 by simplifying processes that rely on proof of ownership and the transfer of assets.
Web3 offers a smarter and more equitable approach to engaging in ecommerce and online communications/promotions. By embracing Web3 early and incorporating it into their business models, brands can avoid the struggles and risks associated with having to rapidly adapt to the future of the internet and marketing.