How to Rewire Your Brain (and Brand Strategy) using Web3

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July 9, 2024

In technology, as in life, this one always hits. Whether it’s AI-powered smart pillows, a fully NFC-chipped wardrobe, or an entire generation spending their allowance on avatars, the future of engaging consumers is no longer about maybe leveraging next-generation technology — it’s a must.

Nonetheless, it’s not always easy to keep up when so much change is in the air. Sometimes, it even requires us to completely rewire our brains to make room for what we must understand to thrive as a brand. Rather than turn this into a game of Operation, let’s continue.

Cookies & CRM ⏭️ Web3 wallets

If you read this newsletter, you've likely heard us say NFTs are the new cookies. We wrote an article on the topic in Blockworks. Just last week, our CEO Raahkee Miller took the stage at NFT.NYC to give an entire talk on the subject, sharing how NFTs enable brands to sell virtual goods, track consumer engagement across platforms, and gain dynamic new insights — all while respecting consumer privacy without relying on third parties.

Note: we have nothing against cookies as a delicious treat, but as the global standard for consumer behavior tracking, it's time for a change in diet.

And we're far from the only ones (gm, Google). Just head to Forbes to gain more insight into how web3 offers a decentralized, user-powered approach to enabling people to own their data and online identities while offering brands a 1:1 portal into consumer behavior.

In the article, Forbes Council Member Nitin Kumar describes how the "Web3 Wallet Network Effect" brings about a paradigm shift in brand marketing and consumer engagement.

This concept is a "self-reinforcing cycle" where more wallets lead to more customers as more brands build wallets and create "digital hubs" for users to interact with their assets, content, and personalized brand touchpoints. This positive feedback loop not only elevates the consumer experience but builds unparalleled trust between users and the brands and products they love.

Individuals ⏭️ Communities

From DAOs to NFT communities and even the current memecoin mania, web3’s emphasis on decentralization and participation has community built into its core (and smart contracts).

However, this change in mentality goes beyond how people see themselves as individuals to how brands should look at their customers as more than just numbers on an earning report.

Every single one of the names on our 10 Brands that Won Web3 in 2023 list is hip to the fact that when you look at your brand as bigger than any one customer or sales metric — and invite people to help shape the future of what you do — everyone wins.

Walled Gardens ⏭️ Transparent Hubs

Whether it’s a product roadmap, centralized CRM platform, or social application, gone are the days where centralized “walled gardens” built to keep users in and innovation out are the only option. The web3 stack establishes a super highway of information that can be leveraged by both sides — users and brands — to build value, leverage insights, and support open innovation.

AWS ⏭️ IPFS

Little do most know, but unfathomable amounts of data are stored on centralized cloud servers, namely centralized corporate enterprises like AWS and Microsoft Azure. These platforms can go down, lose data, get hacked, or rewrite the rules without us even knowing it.

In the decentralized landscape of web3, that doesn’t have to be the case. Decentralized file storage protocols like IPFS help reimagine our relationship to data storage and access, especially in the world of NFTs, where the tokens often just “reference” to offchain data stored on the aforementioned centralized servers. Data storage in web3 isn’t a one-size-fits-all approach, and one solution might work better for some brands than others. The key, however, is to understand your options.

Buy ⏭️ Mint

Following the birth of the internet, humanity was introduced to endless new terms and actions. Go-to-an-actual-place-and-take-out-your-wallet-and-buy-something-with-your-hands became “click,” which then switched to “tap” following the proliferation of smartphones, and then landed somewhere between swipe and scan your retina to unlock a digital wallet.

In web3, we know that’s still only the beginning. From “mint” to “collect” as a new way to connect to products and companies, the consumer action rule book has been rewritten and thrown out the window. As we wrote on our blog, in web3, words matter, and sometimes, they can set the spark to entirely new market cycles and waves of products. As brand leaders at the forefront of this exciting new world, it’s always essential to know what you’re saying — and why.

WEB3 RESOURCES FOR BRANDS

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Who’s hungry for zero-party cookies?

July 12, 2024

Welcome to the future of personalized consumer data.

Camilla McFarland isn't just a crypto OG who's been making moves onchain since 2013; she's also an advisor and member of Mojito's founding team, who's long been at the forefront of brand innovation in web3. 

What better person to wax onchain poetic on the future of brands in web3 at one of the industry's largest global gatherings: EthCC? 

Following her talk last year on Big Brands & Web3: NFTs and the consumer brand revolution, Camilla took the stage this week in Brussels to drop some more alpha on brands making moves onchain in a new talk, Zero-Party Cookies: the future of personalized consumer data

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Use Case: Richie Hawtin & Proof-of-Attendance NFTs

July 9, 2024

Breaking down a different future for drops.

For techno icon Richie Hawtin, drops are about more than just bass.

As one of the most acclaimed artists in electronic music history, the Ontario, Canada-bred musician has long had an affinity for leveraging futuristic technologies to make processes more efficient and engaging.

“Music and technology have absolutely always been intertwined for me,” Hawtin said in a 2022 interview.

From soundtracking Prada fashion shows with mind-bending audio-visuals to creating his own mixer (and tech-indebted sake brand), Hawtin has always pushed the bar.

Since 2022, his journey as a musical technologist has included a growing affinity for web3 — more specifically, Proof-of-Attendance NFTs.

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How to Rewire Your Brain (and Brand Strategy) using Web3

July 9, 2024

From web3 data to web3 wallets - the only constant is change.

In technology, as in life, this one always hits. Whether it’s AI-powered smart pillows, a fully NFC-chipped wardrobe, or an entire generation spending their allowance on avatars, the future of engaging consumers is no longer about maybe leveraging next-generation technology — it’s a must.

Nonetheless, it’s not always easy to keep up when so much change is in the air. Sometimes, it even requires us to completely rewire our brains to make room for what we must understand to thrive as a brand. Rather than turn this into a game of Operation, let’s continue.

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