What is the future of Digital Marketing with Web 3?

Now is the season of crypto winter. The mass NFT wash trading is now exposed, and metaverse use cases are now stale. The tech for immersive experience is still far off from being everyday tech. Does Web 3 have a future???

Misconceptions

Let's get some misconceptions out of the way.?

Web 3 focuses its build on blockchain. What's so great about it??

Like all technology, this will take time and comes with a rollercoaster ride of failure and improvements. The fact that blockchain is the backbone is a crucial point to note, and blockchain now is one of the best available resources that provide the highest data security.?

NFT - an easily right-click-savable JPEG or PNG?

It's agreed that at this point, wash trading is done to inflate the value of NFTs artificially by most of its creators.?

However, NFTs are more than images; they carry an encrypted code of the creator that enables people to identify who the original creators are in case of duplicate creations. Moreover, they also can be attached to utilities via a smart contract that is valuable to either a business or personnel - real estate, funding, donations, etc.,?

Companies such as bitsCrunch are rising to address NFT frauds dedicated to detecting and eliminating aforementioned malicious activities.?

Is crypto fraudulent digital money?

In Short, No. Crypto is just a weird combination of stock functionality and fiat currency, and it is a new breed in itself. The value depends on the individual or group of projects—the short and long-term success of the company that launched its crypto.?

Metaverse is just an immersive game. Isn't it?

Right now, yes. Metaverse is more or less like an immersive game. However - Meta, Google, Microsoft, and many underdogs are competing to make the technology needed to access it cheaper and accessible. In a decade, that tech will more or less become the norm like our mobile phones and laptops are today. Not might, they will.?

Now, with misconceptions addressed. Let's focus on the marketing aspects. The technologists are very busy with R&D and development; there is little to no progress in marketing.?

Digital Marketing in Web 3?

Yes, there are brands hosting events in the metaverse. Selling NFTs to communities is a start but much potential awaits, and there aren't enough marketers R&D-ing the possibilities.?

Communities are the new SEO.?

The most common thing now that brands have finally started building is communities.?

Communities are becoming a vital part of Web 3 projects since Web 3 aims to provide power to a group of people over individual entities. Later this evolved by companies providing NFT Drops to their community of supporters as they continued to support the projects. This applies to all verticals of web3 projects.?

Due to this, the communities may form the foundation of Web 3 SEO. One of the prime examples of this possibility is?Discord Search??and?DaoLens Library?

Metaverse. Website and social media as One.?

Metaverse will serve the purpose of both being a social media platform and an establishment for website space. Worlds like Decentraland , Somnium Space, The Sandbox , Voxels (formerly Cryptovoxels) , and many more are prime examples.?

It provides space to establish your company headquarters or small business space and supports e-commerce, while many also build social spaces like party halls, auditoriums, and others.?

Metaverse is just a 3D immersive version of different pages people and companies create on social media and their websites to establish their online presence for potential customers and clients.?

The Cluster of Marketing Entities

The knowledge of digital marketing alone will not be enough, not anymore, in the coming decade.?

The future of marketing in web3 is going to be ATL, BTL, and Digital marketing clustered into one. As mentioned before, Brand Activations (BTL) is already on the roll, and community building has become a prime factor (Digital).?

The ATL version is more likely to come into play as Metaverses become the new norm. A prime example of this is Infinite Reality Enterprise which focused on non-intrusive in-game ads, the principle that they are aiming to bring to metaverse as well -in the form of Digital Bill Boards, Ad Displays on Buildings, etc.,?

Start Now

The cluster has already begun. Marketers must educate themselves on traditional and current marketing methods and start experimenting with how to incorporate them in the coming decade of the next version of the internet. Daring to explore, mix and fail or be left behind.?

Marketing and Creators will form a vital part of Web 3 as much as technologists. It's time marketers take this seriously.

Article by Betsy Krishnamurthy , CMO at The Avenues .

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