Web3 for Enterprise - Week 1/6

Welcome to Web3 for Enterprise!

Here's what's up: for the next 6 weeks, I will take you on a journey to discover what it means to get into Web3 as a business.

The Web3 for Enterprise content series is part of the Linkedin UK Creator Accelerator Program.

You may be wondering what Web3 means or why you should care. We'll take care of that in a minute.

Web3 is essentially the future of the internet. "The future" seems far, but it's actually knocking on your door as you read.

You may remember the Web2 revolution in the year 2000 when we started seeing social media networks popping up (Facebook), blogs and wikis, video and image sharing (Youtube), and hosted web services (what we now call apps).

Today nobody uses the term Web2 anymore as the tech is integrated into our daily lives. The same exact thing will happen 5-10 years from now with Web3. You cannot beat progress, so you might as well join it.

Progress is brought by changes in the way we see the world. Generation Z, born after 1997, and Generation Alpha, born after 2007, see the world in a different way and are the drivers of such change.

They seek purpose and care less about physical ownership. They value freedom of movement and are passionate about sustainability and social impact. They understand centralized authority may not be the best solution for everything, but most importantly, they are digital natives and are born surrounded by immersive realities (i.e. PC games).

Generation Alpha sees purchase and ownership differently than their predecessors who gave birth to Web2. For them, purchase is sparked indirectly via personalized experiences. Ownership happens first in the digital world, and physical goods and services are often coupled with a digital element.

The physical-digital pairing AKA "Phygital", along with the personalized digital experience, is where Web3 comes in. It represents the next level of customer engagement and brand loyalty for your future as well as current audiences. Generation Z and Alpha will continue their buyer journey on Web3, which is why it is so critical every enterprise familiarizes itself with the technology and its implications.

This, however, does not mean businesses should build their solutions in Web3. Instead, they should see Web3 as a set of tools to engage with the upcoming and growing generations of buyers.

I know what you're thinking at this point...

1. You probably heard some pretty bad stuff in the news about Web3 either this week or last week.
2. You probably heard the word NFT in the news, and you potentially think they are a scam based on the "Greater fool theory".
3. You probably associate the Metaverse with Meta (Facebook rebranded), and are not quite sure what it actually means.
4. You probably heard the crypto market is down, and you would never invest given the current circumstances.

Let's address these 1 by 1:

What are NFTs, and what problem do they solve for businesses?

NFTs (non-fungible tokens) are digital assets with unique properties. In other words, they cannot be exchanged for an item of the same kind.

Imagine you lend a friend 100 USD in 1 bill. A couple of days later, she comes back to you with 2x 50 USD bills. Everyone's happy, and the debt is paid off. That's because money is interchangeable.

Now imagine your friend asking you to borrow your German Shepherd for a day. The following day, she returns with a Lab Retriever. That wouldn't work because every dog is unique and can't be exchanged. The same applies to NFTs.

NFTs are not hyperinflated jpegs! Simply put, they are smart contracts that certify you as the owner of a specific digital item in a safer, more efficient and more personalized way than any other tech out there.

They are super versatile in a business sense and can be used to formalize pretty much anything that entails an agreement between two parties. For example, as a way to connect with your customers directly, coupling digital and physical experiences, or for community memberships, tier systems, loyalty schemes, partnership programs, etc.

Because most people are still unaware, some early adopters have abused the system to scam those later on their journey. In the last week of this program, I will discuss how to stay safe in Web3.

Now the Metaverse. What is it, and how does it help businesses?

A Metaverse is a digital reality accessed through a browser or headset, which allows people to have real-time interactions and experiences across distances. Digital realities are divided into virtual (VR) and augmented reality (AR).

• (AR) Augmented reality augments your surroundings by adding digital elements to a live view, often using the camera on a device (like a filter on your smartphone).
• (VR) Virtual reality is an entirely immersive experience that replaces a real-life environment with a simulated one (like a 3D experience using a 3D headset or playing a video game).

Now think about the business opportunities to engage with customers in these digital realities, whether to share work experiences or create personalized delivery of products or services to your buyers (for example, using a filter to try on clothes at an e-commerce store from the comfort of your home!).

How do NFTs and the Metaverse come together?

A metaverse can only be defined as such if it integrates with digital ownership (NFTs). Therefore, for all intents and purposes, Meta is not actually a metaverse, as you are not able to purchase or own an NFT through the platform.

When you buy a certain item in the Metaverse (an NFT), your purchase is recorded in a transaction on a blockchain, which is basically a set of records grouped in blocks that are cryptographically connected.

This means the transaction can never be deleted or altered. Your purchase assigns you ownership of the NFT forever until someone else buys it from you, or you decide to destroy it.

How does this all relate to Crypto?

In most cases today, to purchase an NFT, we use cryptocurrency. To store cryptocurrency and enter the Metaverse, you need a cryptocurrency wallet. Contrary to popular belief, there are wallet solutions for businesses that allow access by multiple users.

Blockchain is the technology that enables the existence of cryptocurrency (like Bitcoin and Ethereum). A cryptocurrency is a medium of exchange (just like the money we use every day) but is digital and uses encryption techniques to control its creation and verify the transfer from one wallet to the other.

If you are confused regarding this last part, next week, there will be a dedicated session to walk you through how to open your very own cryptocurrency wallet.

So what's going to happen in the next 6 weeks?

Every week, there will be different themes with related posts, articles, documents, and live/ audio events. Some will be educational, leading you while you take your first steps in Web3. Others will feature professionals that bring their unique insight to these conversations. I will also be attending Web3 conferences and events to bring you the latest updates.

For the duration of the program (6-weeks), I will release a newsletter at the start of every week with details on what is coming. Below are the themes for every week.

Week 1: Why you should care

• An intro on why Web3 matters to business

Week 2: Getting into NFTs - part 1/2

• Starting your journey with NFTs (including a live session to set up a cryptocurrency wallet and buy an NFT)
• Attending the NFT London conference

Week 3: Getting into NFTs - part 2/2

• Looking at how brands are leveraging NFTs, and how you can apply them to your use-case
• Attending the Token2049 London conference

Week 4: Entering the Metaverse - part 1/2

• Looking at how brands are leveraging the Metaverse and how you can apply that to your use-case

Week 5: Entering the Metaverse - part 2/2

• Immersing you in the Metaverse (including a live session where we actually enter a few immersive realities)
• Attending the Crypto A.M. Summit & Awards

Week 6: How to stay safe in Web3

• Discussing the implications of having a cryptocurrency wallet as a business and how to stay safe from scams (including content showing you actual scams that people tried on me!)
• Attending the Enter the Metaverse conference

So, here's the schedule for what to expect this 1st week:

??? Tuesday (Oct 25th):

• An ask me anything (AMA) session on web3 for brands with Lauren Ingram and Becks perfect

??? Wednesday (Oct 26th):

• A spotlight document on your Gen Z/ Alpha customer persona and how to cater to them (Link to post)

??? Thursday (Oct 27th):

• A video about the Web3 Pyramid Model: my framework for looking at Web3 as a toolset to build the next level of customer engagement and brand loyalty (Link to post)
• Our weekly Linkedin audio live "Brands in Web3" with Ely Santos - analyzing 4 brands and breaking down how they join Web3 - discussing the use cases of Volkswagen, Porsche, Cheetos, and Lacoste as they enter the space

??? Friday (Oct 28th):

• A post with the registrations for the live session in Week 2 on how to open a crypto-wallet & buy an NFT ?? Watch the recording ??

??? Saturday & Sunday (Oct 29th/ 30th):

• Weekend announcements and updates including details about NFT London

Well, I hope you enjoyed the long read and found it informative. I really look forward to having you on this journey with me, so subscribe to this newsletter, join the coming events, and of course, the conversation in the comments below!

*PS: Follow me on Linkedin and click the bell on my profile to receive the latest updates!