Web3 technology has been met with mixed reactions, with some users finding it unfamiliar, difficult to use, and lacking mass market use cases.
The recent launch of National Geographic’s NFT sparked an outcry on social media, with many calling NFTs a “bubble” that has already burst, and even labeling it as “bullshit” or “another way to launder money.” The current state of UX and popular opinion on Web3 is clear: it needs improvement.
But what can brands do to make Web3 work for them?
The key lies in focusing on the user’s needs and problems, not just the technology. Brands should prioritize utility and collective brand building as part of their marketing and customer development process.
For the next phase of Web3 for brands, it’s important to move beyond “another” NFT drop and focus on solving real user problems. The technology used is not as important as how easy it is for users to access and use.
Collective brand building:
NFTs are just one part of a Web3 strategy, which is also a marketing and customer strategy. With Web3, users can own part of the brand, the story, and the culture they help create. This creates a new relationship between brands, communities, and creators, changing how customer communities are managed, and how product value is created and shared.
Of course, there are challenges to overcome, including UX, interoperability, scaling, and privacy. But for the next phase of Web3 for brands, the battleground will be the user experience and the relationships that brands can build with their communities and superfans. The goal is to keep questioning, experimenting, and building, to make Web3 technology work for everyone.