What Is Web 3.0 and How Will It Affect Your Marketing?

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Web 1.0, Web 2.0 and Web 3.0 refer to different iterations of the internet and how users interact with it. Web 1.0 consisted of static, read-only web pages, whereas Web 2.0 saw the advent of user-created content such as social media, YouTube videos and blogs. Web 3.0 is characterized by a democratized and transparent web experience where users, not companies, own their data. Here are some of the ways businesses are likely to interact with Web 3.0 in the near future.


Digital Property Rights

NFTs, or non-fungible tokens, are commonly thought of as a means of purchasing digital art via blockchain technology. However, an NFT is really like a deed to access a piece of digital space — and often that space is connected to a vibrant online community. This means businesses could use NFTs to provide services to customers using the NFT as a kind of access pass — like a ticket to an in-person or online event. Through NFTs, businesses can collect perpetual royalties on intellectual property without having to rely on traditional publishers, agents and corporations to act as gatekeepers. And they also can serve as a conduit for businesses to interact with customers long-term and to build a rich digital community to enhance marketing efforts, generate repeat business and even gather customer insights for future products and services.


Smart Contracts and Ad Security

Smart contracts are digital agreements stored on a blockchain that go into effect when certain conditions, such as digital signatures, are met. By cutting out middlemen, this fully automated process can reduce administrative burdens and offer more robust online security. Because of these features, Web 3.0 technology can also help provide more secure marketing interactions. A recent study by Forrester found that among companies that spend more than $1 million per month on advertising, 69% lost at least 20% of their marketing budget to advertising fraud. Since blockchain securely verifies user data, the technology allows companies to detect fraudulent clicks and potentially reduce wasteful ad spending.


Digital Communities

While the metaverse is still in its infancy and hasn’t fully integrated with other Web 3.0 apps, it will allow more businesses to offer products and services in cyberspace — things like digital fashion and even real estate. Creating an interactive online community allows companies to not only attract new customers but also better understand the people they already reach. A metaverse community could open up new ways to fine-tune targeted marketing and boost brand messaging while simultaneously encouraging engagement among existing customers.


Web 3.0 Is Already Making Waves

Although Web 3.0 and its applications are still evolving, more and more businesses are finding ways to leverage the technology. Women Rise and Gucci have used NFTs to demonstrate their commitment to charitable causes, while others have found new ways to boost brand awareness. In 2021, for example, McDonald’s sold a limited number of NFTs featuring digital art based on its famous sandwich, the McRib, to generate interest as it returned to the menu. Customers had to retweet the post to be eligible for one of the collectible art pieces. By early 2022, the post had more than 93,000 shares.


As Web 3.0 becomes more widespread, forward-thinking businesses should consider whether integrating these technologies may help streamline their operations, build audiences and enhance their community engagement.