Hey there, Web3 fam! 👋

Let’s chat about why marketing is non-negotiable for Web3 projects in 2024 and beyond. We’re not here to rehash the same old marketing spiel. Instead, we’re diving into the nitty-gritty.

If you’re still wondering whether Web3 is taking off, have you seen the numbers from this year’s Onchain Summer? This multi-month extravaganza was more than just a celebration—it was proof of how far we’ve come.

• Over $5 million in onchain revenue for builders, creators, and projects.

• More than 2 million unique wallets diving into onchain experiences.

• A massive 24 million onchain assets minted.

Oh, and Base and partners threw in over 600 ETH in prizes, grants, and gas credits to keep things interesting.

Web3 is exploding, and we’re seeing new possibilities daily. We’re not talking about a little growth spurt; we’re in the midst of a full-on, neon-colored, NFT-fueled, meme-laden revolution.

However, even the coolest Web3 project could fail without solid marketing. In 2024, the competition is fierce, and building something solid isn’t enough anymore.

Whether you’re minting NFTs, building a new L2, or diving into decentralized finance (DeFi), you must get people talking, sharing, and emotionally invested in your project. If you’re not marketing wisely, you’re missing out.

What’s Shaking Up Web3 Right Now?

If Onchain Summer taught us anything, it’s this: Web3 isn’t static. With the rise of account abstraction, empowered NFTs, and AI-driven tech, Web3 is becoming mainstream. Institutions are throwing their weight (and wallets) behind it. Major companies like Amazon, Starbucks, Reddit, and Nike have begun integrating Web3 technologies into their operations.

But what exactly is driving this new wave of growth?

1. Social Payments and Commerce

Remember when onchain payments were, well... a headache? That’s over. Now, we’re seeing payments woven into the social fabric of Web3. It’s all about speed, ease, and—most importantly—connection. Projects like BasedCoffee and SwiftpayFinance make money move as effortlessly as a tweet, blending social vibes with financial transactions.

These aren’t just transactions; they’re moments of connection. The message is clear: if you want growth, build something that feels like second nature to users. No friction, no fuss—just pure, community-driven interaction.

2. Creator Tools

One of the most exciting things we’ve seen this year is the evolution of creator tools. Web3 is moving beyond just giving people ways to make cool things to giving them the power to do it their way. Projects like Feed let users create and own their content permanently, on their terms, censorship-free. And anglez.xyz is diving into generative art with onchain customizability—a unique experience every single time.

The line between creator and consumer is fading fast. In Web3, everyone can be a creator, and the tools are evolving to meet that demand. Whether it’s creating a blog, minting art, or building new experiences, the projects that empower users are the ones that capture not only attention but also loyalty

3. Zero-Knowledge Proofs (ZKPs)

Projected to grow into a $10 billion market by 2030, ZKPs are becoming the backbone for secure, anonymous crypto transactions. By the end of this decade, the demand for ZK proofs could require 90 billion to be performed, making it one of the most talked-about innovations in the space.

4. Phygital Commerce

The commerce scene is undergoing a massive glow-up. Web3 isn’t just about selling digital assets anymore—it’s bringing the physical and digital worlds together into something we call phygital. It’s at that level where you mint an NFT and, boom, you get a physical item shipped to you. For instance, FramePay is a platform that lets people create digital collectibles (NFTs) and exchange them for real-world items on Farcaster. The digital isn’t just staying in your wallet; it’s becoming something you can touch, experience, and brag about.

5. Discovery and Authenticity

Different projects are popping up like mushrooms after the rain but the challenge lies in making sure the right stuff gets noticed and that those behind the work get the credit they deserve. Onchain Summer showed us platforms like CodeCred, which put contributors in the spotlight, are taking off. Why? Because in a world of anonymity, people still crave acknowledgment. Authenticity and transparency are driving this ship—without them, we’re just lost in the hype.

6. Web3 Gaming

One of the brightest stars in the Web3 universe, we’re seeing $1.1 billion invested in Web3 gaming just in Q2 2024 alone (yeah, you read that right) and 2.8 million daily active wallets.

Blockchain gaming experienced significant growth in Q2 2024, reaching 2.8 million daily active users, a 33% increase from the previous quarter. Source: DappRadar

Web3 gaming is moving past the hype. We’re seeing platforms like BlueSocial combine GameFi and SocialFi to reward real-world social interactions. Successful Web3 games now focus on engagement, storytelling, and real connections—not just earning. Oh, and don’t forget Telegram-based Web3 games, like Notcoin, which attracted 35 million players with the biggest airdrop of 2024.

7. True Community and Social Engagement

Remember when community in Web3 meant having a Discord link? Yeah, we’ve leveled up since then. Now, it’s all about creating meaningful spaces where people actually want to spend their time. Platforms like GIVE onchain are tapping into this, making your contributions mean something.

Whether you’re staking on outcomes or being rewarded for adding value, it’s no longer just about being there—it’s about belonging. Onchain Summer made it clear: the future of community is emotional investment, not just financial. People need to feel seen, valued, and connected to a purpose bigger than themselves.

8. Tokenized Assets

In Q2 2024, tokenized, non-stablecoin assets hit $3 billion in value, more than 2x since the beginning of 2023, and they’re expanding horizontally across asset classes like government securities.

Names like BlackRock and Franklin Templeton are tokenizing U.S. Treasury funds worth billions of dollars. Source: Coinbase

These are potent trends, but here’s the problem: rapid growth often means increased competition, making it harder for any single project to stand out.

The Unique Marketing Challenges Facing Web3 Projects

Web3 marketing for projects in 2024 isn’t like for any other tech. Certain hurdles make growth particularly tricky. If you’re a project founder, you’re probably juggling ten problems already—and marketing might be the last thing on your mind. But here’s why you need to prioritize it:

1. Advertising Restrictions: Google, Facebook, and other mainstream platforms have slammed the door shut on crypto ads. Why? Scams, fraud, all that jazz.

2. Trust Issues: The Web3 space has its fair share of scams, rug pulls, and failed projects. Consumers are skeptical, and rightly so.

3. Regulatory Uncertainty: Depending on where you’re based, the legal environment for Web3 can be downright murky. The rules constantly change, so creating long-term marketing strategies is challenging.

4. User Acquisition and Retention: You might have a killer product, but if you can’t get users on board and keep them engaged, you’re toast. For instance, while tap-to-earn games are great at attracting users, they struggle with a [40% drop-off rate] within the first three months. Users need to believe in what you’re building to stay with you.

5. Marketing Attribution: Traditional marketing tools don’t always play well with blockchain. With [100+ wallets and 20+ chains] boasting millions of dollars in TVL, tracking user journeys is infinitely more complex than in Web2.

Why Traditional Marketing Falls Short

Here’s where we need to think differently. Traditional marketing tactics that worked in Web2 often fall flat in Web3. Why? Because Web3 isn’t just a new technology. It’s a new paradigm.

In Web2, you could rely on centralized platforms for user data and engagement. In Web3, users own their data, transactions are pseudonymous, and engagement is decentralized. This means:

• You can’t rely on user targeting.

• You can’t track users across platforms easily.

• You can’t assume users trust centralized authorities or brands.

Growth Marketing Solves These Challenges

Why is growth marketing the answer?

Targeted Campaigns Hit the Right Audience

In Web3, reaching the right audience is half the battle. Growth marketing uses data analytics to fine-tune your message and deliver it to the users who are most likely to care. Instead of casting a wide net, you’re hitting the bullseye.

Influencers Bring Credibility

Remember when Polygon teamed up with global brands like Nike and Adobe? Their strategic partnerships catapulted them into the spotlight, making them a must-watch scaling solution.

That’s the power of the right influencer backing your project. You don’t need to fight for attention all by yourself. Crypto influencers (or Key Opinion Leaders (KOLs), if we’re getting fancy) have built-in trust with their communities. Partnering with the right ones can give your project the credibility boost it needs, especially when you’re up against skeptical audiences.

Content Marketing Builds Thought Leadership

People are hungry for knowledge, especially in Web3, where things can be confusing. Blog posts, podcasts, and explainer videos are tools for educating users and showing them why your project matters to them.

Community Engagement Builds Movements, Not Just Brands

The heart of every successful Web3 project is its community. Whether it’s on Discord, Telegram, or Twitter (sorry, X), building a loyal, engaged community sets great projects apart from the good ones. Growth marketing helps you design and nurture communities where users feel emotionally invested in your success.

Data-Driven Insights Powers Smarter Marketing

Growth marketing isn’t about vanity metrics—it’s about actionable insights. By leveraging blockchain analytics and tools, growth marketers can track user behavior and optimize campaigns in real time. This data-driven approach ensures you’re not just guessing what works—you know what works.

Look at Axie Infinity. They didn’t just build a game—they built a nation. Their players felt like they were part of something bigger, and that sense of belonging turned Axie into a global phenomenon. That’s the power of community-driven growth.

What’s Next for Web3 Growth Marketing?

1. Decentralized Advertising Networks

Centralized ad platforms might lock you out now, but decentralized advertising networks are stepping up. These platforms eliminate the middleman, giving you more control over your budget and targeting. Think of it as peer-to-peer advertising.

2. Personalization on Steroids

Web3 allows users to own their data—a game-changer or a game-over for marketers. It’s all a matter of perspective. In 2024 and beyond, we’ll see more hyper-personalized campaigns that respect user privacy but still deliver tailored experiences. This is especially crucial for projects building trust in a skeptical market.

3. Gamification Is About to Blow Up

Gamification is huge already, but it’ll only get bigger. We’re talking about token-based rewards for community engagement, participation in governance, or even simple daily interactions. These strategies drive deeper engagement and give users a stake in your success.

4. AR/VR Will Redefine Interaction

Augmented Reality (AR) and Virtual Reality (VR) will create immersive experiences that blow users’ minds. Virtual events where users can experience your product or service before buying it would be a huge differentiator.

5. Corporate Adoption

Web3 isn’t just for crypto geeks anymore. Coinbase says 56% of Fortune 500 companies are already working on Web3 projects, which means there will be a lot more corporate money and attention in this space. Growth marketing must adapt to these more prominent players entering the scene.

Fortune 100 Companies: Web3 initatives by industry, Source: Coinbase

Are You Ready to Grow?

2024 is shaping up to be a make-or-break year for Web3 projects. The space is more competitive than ever, and the margin for error is shrinking. Growth marketing is the difference between your project being a blip on the radar or a household name in the crypto space.

At Myosin, we’re not just about marketing but building movements. Book an intro call with us if you’re ready to take your Web3 project to the next level. 🚀