As the idea of a blockchain-based “Web 3” internet goes mainstream, brands are naturally in a hurry to capitalize. 

However, before beginning a Web 3 marketing campaign, it is important to understand the environment that one is diving into, as many of the techniques that worked in previous paradigms do not necessarily apply to this new territory. 

Blockchain, community, and authenticity

Decentralization is the central concept that Bitcoin was originally built upon, and is key to the blockchain ethos. The original builders of, and investors in, this decentralized internet do not necessarily hold the highest esteem for large power structures or centralized capitalism. 

An almost punk-rock energy exists in the crypto community which can be a cause of tension in interactions with current Web 2 brands. 

For example, this can be seen through critical posts on LinkedIn about users’ NFT profile pictures being removed because they violate LinkedIn’s policies. In many cases, Web 3 users want the freedom to do what they think is cool, and will find a new space to gather if anyone attempts to infringe on their creativity.

The more that a brand can immerse itself in the Web 3 space and understand the language and values of its users, the better the chance of success that it will have in its endeavors. Many high-profile influencers have attempted to release crypto and NFT projects and failed, with their given reason being that they did not understand the level of community interaction needed to make the project successful. 

See: this and this. 

Through tokenization and the inherent game theory it creates, the idea of community in the Web 3 space is more important than in previous iterations of advertising models. Brands must think about long-term project interaction, while considering that decentralization naturally leads to a peer-to-peer value exchange, rather than an advertiser-customer one. 

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Data utilization

Through the transparency of the blockchain, brands will have more data with which to connect users to relevant experiences. 

Along with metrics from one’s own campaigns, it is now easier than ever to analyze what other companies have done and take their successes and failures into account. This naturally fosters a culture of collaboration and learning from each other, rather than secrecy and competition. 

The emphasis on data control for users is already being explored by clients like Brave Browser, a web browser that keeps user data private, and Swash, which puts data ownership into the hands of those creating it and provides a more personalized approach to data sales. 

This should create a more productive relationship between the data creator and buyer sides of the equation. On the flip side, the blockchain is forever, so advertisers need to deeply consider their plan before implementing a project—if it holds the appearance of a cash grab, this attempt will be analyzed by the community and forever immortalized. 

As Web 3 is in its infancy, it is much more valuable to take a thought out approach, rather than permanently risking one’s reputation this early.

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Creator ownership

The creator economy, a growing force since the development of social media, has now been granted digital ownership through blockchain. 

This means that content creators can directly monetize virtual collectibles and experiences, giving them even more reason to keep their brands authentic as they explore potential partnerships. 

For example, NFTs created by the Web 3 photographer Drifter grossed over $9 million over the past year. With these types of returns, content creators are not forced to rely on paid sponsored posts or a platform’s ad revenue to monetize their online presence, as they were in the Web 2 model.

Myosin celebrates the power that blockchain grants to top growth marketers and content creators, and is providing them with a way to collaborate with brands in an authentic, community-run way. 

As Web 3 enthusiasts with a history of successful, high-profile marketing campaigns, we aspire to bridge the gap by onboarding both brands and customers into the Web 3 world in a way that benefits all parties.

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