Social media sites are failing to meet our expectations on trust, but despite concerns, people are still scrolling.
Over 100 Brands Entered Web3 in 2022, resulting in $54B in “Direct-To-Avatar” sales. Web3 is expected to reach a worth of $81.5B by 2030.
As marketers, we are focused on 1st to market opportunities and areas of immediate ROI for our clients. However, Web3 is a series of interconnected technologies, platforms and more that will require time to mature. Given the ongoing discussion on the topic, it’s also clear that our industry will rewrite the nomenclature for elements, e.g. NFTs becoming Digital Assets, in order to stem fatigue and drive newness and discovery from consumers.
We are most excited about how gaming, entertainment, sports, and music can leverage Web3 tech and forge new relationships with consumers. Similarly, retail, QSR, and similar categories will uncover new revenue sources as well as opportunities for consumer lifestyle connections that were previously held at brick-and-mortar or thru social media.
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