Everything’s Changing — But It’s Okay. Shifting Paradigms: Branding and Marketing in Web3
We’re on a planet, spinning through space. When you think about it that way, NFTs kind of… make sense. Maybe Web3 is the disruption we’ve all needed.
The digital evolution
Radical change is a part of human history. Every century, things like revolutions and wars, inventions, or types of explorations shape our collective existence — socially, economically, and environmentally.
In recent decades, we’ve experienced great technological advancements, witnessed the rise of tech giants and digital industries, and as a result — whether we like it or not — undergone dramatic shifts in how we live our everyday lives.
How did we get here? It’s complicated. Looking back to the 1960s, the invention of the internet is a great place to start. After all, it was the beginning of the digital evolution that catapulted us to the World Wide Web (WWW) we know and use today.
Now, we’re seeing the third iteration of the web (known as Web3) and big tech’s plans to launch a whole new virtual world — called the #Metaverse — unfolding in real-time.
The decentralisation revolution is here
While our digital advancement has been impressive, it’s not without issues. For one, large-scale inequalities — like the “digital divide” — exist. The digital divide is the ever-growing gap between those who have access to technologies and those who don’t.
On top of this, unequal power dynamics within the digital world have become somewhat of a norm. Centralised structures like FAANG — Facebook (now Meta), Amazon, Apple, Netflix, and Google (now Alphabet) — control our data, influence the type of content we consume, and fuel global wealth disparities.
Web3 is a response to these power dynamics. While the digital divide is likely to grow without proper action, we’re seeing a different type of revolution unfold. Demand for a decentralised web is gaining momentum.
Three generations of digital natives and the third iteration of the web later, the youth are stepping in and stepping up to address inequalities in the digital space.
It’s important that as brands, we do the same. Here’s why.
Re-imagining branding and marketing
Everything’s changing. We’re ascending into Web3, breaking into an era of digital decentralisation. At least, that’s the goal. If like us at?Nicework, you’re excited about what this could mean, it’s for good reason.
There’s a lot of potential for positive change, systemic re-evaluations, and equitable outcomes. Things like equal exchanges of value in the finance and creative sectors and a reprioritisation of the community are major components of Web3. So where do brands fit into all of this?
Web1, Web2, and Web3
Before the internet, there was advertising. Bursting to life between the 60s and 80s, the advertising scene took off. Often referred to as the “Golden Age of Advertising”, it was all about big ideas and creativity-centred outcomes.
Brands spoke directly to potential customers through brand-generated content (BGC). It was a defining era for marketing and much of the same guiding principles from that time are still used today. But it was one-sided and limited. Customers themselves had no way to interact with the brand. Web1’s read-only interface functioned in a similar way.
This changed with our shift into Web2 in the early 2000s. Suddenly, new forms of technologies like social media began to emerge, and with it, a flow of information. A whole new world of possibilities opened up. For the first time, people could interact with one another, share ideas, and engage with brands and their content. But it was reciprocal.
Social networks in turn provided advertisers and businesses with access to users’ data, allowed machine learning algorithms to target consumers, and essentially customized the user experience for optimal Return on Investment (ROI). Major concerns arose around Web2’s centralised structure and loss of control over personal data.
Web3 is partly a revolt against the current way of things.
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We’re in a pivotal time. People are jaded, overstimulated, and want change. More and more people are speaking out against social issues like wage gaps, racial injustices, and concerns around privacy.
Blockchain technology and decentralisation seem to offer potential solutions to some of these issues. For example, blockchain technology gives you ownership of your data, digital assets like non-fungible tokens (#NFTs), and access to decentralised decision-making platforms.
Purpose, impact, and collaboration
One thing’s certain, focusing on consumer-based metrics, will no longer be enough as a brand in #Web3. This new fast-paced and ever-changing space demands more. People are looking for genuine connection, community, and authenticity.
And now more than ever, brands have an important role in defining what Web3 will be. Plus a unique opportunity to work directly with the community to build the kind of Web3 we all want, together.
To do this, we need to learn from Web1 and Web2. It’s no longer about brand-dominated markets like in Web1 or data-centric systems like in Web2. In Web3, people want a say in how a brand operates, what the impact of their investment and engagement will be, and above all, authenticity.
To bridge the current centralised and #decentralized gap, brands need to understand their purpose, intentions, and the impact they want to achieve in Web3 — along with the shared values of their community.
For example, at Nicework, for many years our #purpose as a #brand was to “make shit people care about”. Now, as a Web3 service provider, our purpose is to “make a dent in the world by?building web3 brands people care about”. This purpose exists because we care — about people, creating a positive impact in the world, and supporting other brands in Web3.
Curious to see how we’ve worked with other brands in this space? Check out some of the purpose-led brands we’ve collaborated with below.
Examples of purpose-driven brands and NFT projects in Web3
Slogan: Win the race, run the world
Runner is a narrative-driven epic from Clubhouse Pictures with comic books, NFTs, series and films in the works.
Using their purpose to “create a world for anyone to explore so that they can create their own stories, new paths, and community”, they’re entering the Metaverse to challenge the dynamics of power and ownership in Hollywood. More on this?here.
Slogan: Inventors of the original hamburger
The Menches Brothers is a family-owned business that goes back over 130 years, to 1885 when Frank and Charles Menches invented the hamburger. Their values are based on community, storytelling, and legacy.
Honing in on their purpose to “use the delight of the original hamburger to bring people together” the Menches Brothers decided to launch into Web3 so they could share the original burger with the global community. More on how they did this, their story, and the lil Mench NFTs?here.
Testimonials
“The goal was really taking this local story and idea to a national and global scale. And Nicework helped make that possible for us”
“I really loved how Jason from Nicework captured the story that he built from reading the research behind the Menches Brothers. And he said it in such a way that was so comforting, it felt like home, it felt so us. And, I know that the team of Nicework was behind him. So that was really, I think, a pivotal moment for me”