Are you looking to get your brand into Web3?
Some simple ways include buying NFTs of projects that align with your business or a metaverse land (even if you have no plans of doing anything on it yet). Then communicate that you have entered into Web3. For example, Visa entered web3 by purchasing a Crypto Punk and MTN by purchasing a metaverse Land.
However, if you want to come in with a bang including launching your own NFT project, then consider these things in your plans.
1. Keep it simple in Web3.
Web3 technology is not as user-friendly (UI/UX) nor is it as interoperable compared with the Web2 tech stack. Exploits are commonplace and the ‘undo’ button rarely works on the blockchain.
2. Stay away from the investment narrative.
Individual collectors or traders can speculate about treating NFTs as investments, but this will be problematic for legal reasons for a brand. Your brand’s offering is rarely to help individuals make money. Let your Web3 adventure further your brand’s cause among your target audience.
3. Web2 is not old
Your team is probably stronger in creating experiences using Web2 technology, leverage it. You can do amazing things in Web2 and still launch in Web3. For example, Shopify now integrates with NFTs for merchandise sales. Improbable is creating cutting-edge (aka mindblowing) multi-player gaming experiences that integrate with Web3.
4. Find Web3-native partners for your brand
Behind the scenes of a successful drop is a complicated process. Find partners to help you navigate Web3 strategy, tech development, marketing, launch and community building. For example, TIME‘s TIMEPieces team is helping brands (even cities – https://lnkd.in/e95GfqEx) enter web3 after successfully launching multiple projects and overcoming many challenges.
Looking for help in getting your brand to understand Web3 better? Let’s talk.