In this post I will outline some use cases for blockchain technology and how brands can start thinking about integrating “Web3” into their business model and marketing strategy. Then I will share some actionable ways to stay ahead of the curve and ensure your team is set up for success when thinking about the future of digital marketing with collectibles.
Radical Transparency
All transactions on the blockchain are trackable. Businesses can use this to their advantage by backing their data with receipts of transactions on the blockchain, allowing their audience into a type of radical transparency not possible with a centralized banking system. Transacting all or some financial exchanges on the blockchain will allow consumers of a product to see where their money is going; supporting a healthy relationship between a company and their audience.
For example:
if a business was to send a charitable donation, they could do so using the blockchain to make the transaction trackable by anyone and prove its legitimacy.
Here’s an example of a transaction on chain.
Brands that are able to use a more active approach to accountability will change the standard for all business. Creative data visualization will be needed to make sure that content is still digestible.
Fundraising and The Creator Economy
Creators and entrepreneurs can now crowd fund their ideas through utility tokens, unlocking a new way to monetize products and potential. The tokens can represent a discount or promotion for their product for holding the NFT in return for initial funding. This is an efficient way to show proof of concept with community and product before looking to raise. The collectors of the token become a huge voice in what the business is building by being stakeholders, and in return are more invested in the growth of the business.
For example:
Sally wants to start a clothing brand and can use an NFT as a pre-order that doubles as a certificate of authentication.
Or
Ethan has a coffee shop and sells an NFT token that represents a 15% discount if you hold the NFT.
Choosing who to collect from is a different skillset. Be cautious for now.
Community building
Marketing for “Web3" is 100% organic and grassroots at the moment, happening on platforms like twitter, reddit, discord, and telegram. You can’t run ads for NFTs and influencers aren’t to be trusted. Because of the nature of the space, who you’re marketing to won’t likely be consumers of your product, but will always be potential investors in your IP.
Brands are given a unique challenge and opportunity to own their voice and story without fighting as many social media algorithms. Meanwhile they can build an organic audience and bringing together a community around their vision.
Brands must encourage conversation between the creator & consumer to be successful. Likely they will need a different marketing strategy than on IG & TikTok.
Embrace Creativity and Art Direction
The content you make is no longer here today gone tomorrow. Blockchain tech allows the infrastructure for consumers to collect the assets that brands create. This opens up new streams of revenue for creators and brands alike, incentivizing them to make their content collectible. The age of minimalism and Canva templates will soon be over, and originality and unique art direction will be the next to make waves in design and digital marketing!
Here’s an example of some content I made and minted.
I sold 11 editions of the piece for around $2. This means I got paid around $22 for the hour I spent making the post (vs. $0 for simply posting on social media).
And now, if you wanted to collect the piece, you could only do so on a secondary market for around $220.
What can you do to get ahead of the curve:
- Start growing your social presence on twitter. Twitter has completely unique voice and culture compared other platforms. Hiring someone who “gets it” is a great idea or make sure you spend months watching the conversation before you start to push messaging.
- Start personifying your brand. Either through the voice of your founder, a unique illustrated character, or by hiring a content creator to be the face of your brand. You will save a lot of money on influencers and build a loyal following by bringing your voice fully in house. To that point:
- Hire young people. Your entry level positions should be filled with the youngest talent possible. And you should listen to them. They have a finger on the pulse of digital culture that is necessary for the voice of your brand and sustainability in a fully online age.
- Lastly and most importantly, integrate art into your content strategy. Commission artists to bring your brand to life through story telling. With the current state of “web3” marketing, your art is your brand!
Thank you for reading! If you’d like to reach out to me, my email is macy@gettles.co and you can follow me on all social media platforms @gettles!
Best,
Macy
