As Web3 projects double in value, content creators needed to restore trust

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Through the lens of mainstream media, the crypto world has fallen dramatically out of favor. Over the past year, headlines chronicling macroeconomic instability, market forces, and scandal — which came to a crescendo when crypto exchange FTX collapsed last week — have driven a damning and brushed-up narrative. picture of an industry suffering from a crisis of confidence and credibility.

It’s true that cryptocurrencies have taken a hit, with Forbes’ tracker seeing $176 billion wiped out of the world’s 15 largest cryptocurrencies in the 72 hours following the FTX implosion. However, as Isaiah Douglass aptly puts it in his recent opinion piece for Coindesk, “The financial media and legacy gurus miss that the price of bitcoin is a thing and the history of adoption and technology around the ecosystem is another”.

One need only take a closer look at the web3 community to see that developers are still building, projects are still emerging, and trust in the underlying technology remains. It’s clearly not just crypto evangelists and proponents who believe this, given that over the past two weeks oil giant Shell has announced its entry into the bitcoin mining industry, and investment banking multinational JPMorgan has just successfully executed its first-ever cross-border transaction using decentralized finance (DeFi) on a public blockchain.

Despite all the scaremongering media, an important part of the narrative has been missed. As entrepreneur David Marcus said earlier this year, “It’s during the crypto winters that the best entrepreneurs build the best businesses. It’s time again to focus on solving real problems rather than pumping coins.

Behind the scenes, entrepreneurs and projects turn adversity into opportunity, but most people are unaware of all this activity because these stories don’t filter through the echo chamber of the financial media.

The web3 world desperately needs better marketing to help non-natives understand what’s really going on in the web3 space, why it’s here to stay, and how many solutions have already emerged. Projects also need help educating and integrating people.

This is why a growing number of Web3 marketing platforms are emerging to inspire content creators and influencers to bring more education and better messaging to projects in the space. For influencers who feel the hold that centralized social media platforms have over their content and communities, these new platforms offer freedom and autonomy that makes migrating to web3 marketing attractive.

Web3 influencer marketing: financial freedom, content autonomy

Over the past two years, many creatives across industries have been displaced by the pandemic and have turned to social content creation, especially short-form video, for sources of income. As a result, the creator economy is now worth around $100 billion, with more than 2 million people identifying as professional content creators and 48 million more identifying as hobby creators.

As the cost of living continues to rise sharply across the world, creators need to monetize and centralized Web2 platforms, such as Twitter, YouTube and Instagram, have offered revenue generation opportunities at the expense of ownership. Datas.

Web2 marketing is basically capturing user data to drive demand generation and customer acquisition. In web3, however, (the catch-all term for decentralized ownership structures, including blockchain, cryptocurrencies, NFTs, metaverse, etc.), growth and marketing are very different since data users are stored in distributed networks that do not belong to anyone. Web2 marketers can essentially buy access to user data and gain insight into identities, though actions, such as transactions and balances, are still meant to be private. In web3, however, the reverse is true: identities remain anonymous, while transactions are open and transparent.

Safary is a great example of a Web3 marketing attribution platform that emerged this year to adapt to this changing privacy paradigm and rebuild the marketing stack. This app targets the DeFi and GameFi sectors, provides a tool to calculate channel ROI and understand customer segments, to drive growth and mass adoption.

For Web3 marketers, understanding customers is key to growing communities. Indeed, in the world of web3, where data is open source and decentralized, products alone do not constitute a competitive advantage. Instead, the goal is to attract and maintain attention by creating communities.

Web3 marketing is community growth marketing, a perfect match for the skills of influencers and content creators, who build loyal and active communities to earn a living. Web3 makes it easy for content creators to be rewarded for their actions and brand evangelism through digital goods and currencies such as crypto and NFTs. Additionally, because the data is stored on the blockchain and does not belong to any platform, intermediaries can no longer prevent brands, creators, and fans from forming direct relationships. Instead, creators and influencers can find greater financial independence, direct access to their audience and earning opportunities, and more freedom to move across platforms and distribute their content. If a platform no longer aligns with their values, they can move on and take their content and community with them.

Web3 platforms and projects have a strong incentive to help influencers and content creators migrate from Big Tech, as professional and amateur content creators share the innate storytelling abilities needed to educate and reshape today’s media narrative.

Education is of course an extremely important need for web3 projects, which must make themselves accessible to non-crypto natives to be adopted by the general public. Here, even more innovation comes from web3 platforms, such as Rabbithole, which essentially allows people to “learn how to earn”. Users connect their wallets and progress through skills including L2, NFT, and DAO to earn credentials and unlock rewards by interacting with well-known blockchain protocols.

One project specifically helping creators migrate to Web3 is the WOM protocol. WOM is building an ecosystem of products that provide the technology to grow communities, reward creators, and manage user-generated display marketing. These include the so-called “Crypto TikTok” BULLZ App, which was launched in 2021 to enable all creators and anyone else who wants to monetize their content to earn rewards for word of mouth recommendations related to Web3. The BULLZ app rewards creators daily from a reward pool created and distributed by the WOM protocol. Rewards are distributed based on content engagement and a trusted peer review that content must succeed before it wins.

A network of verified Web3 creators with over 30 million people have already migrated to the app. Although users “create to earn” thanks to the built-in WOM protocol, the app has extended its functionality so that other Web3 projects can launch dedicated marketing campaigns with verified creators directly in the app. Brands including ROCKI, EuroReels, Ethermail, SingularityDAO, MixPay, Fidlecoin, Jigstack, and Mad Metaverse have set up campaigns using the decentralized BULLZ campaign manager.

WOM is part of a rapidly growing landscape of community growth technology products emerging in the web3. These range from tools designed to help establish communities, such as Safari, Jump and Myosinup to those who help with messaging – think Dispatch and pearl — to those that offer incentives and rewards, such as ZeroDrop Where Dappback.

For professional and hobbyist content creators new to NFTs, Metaverse, and Reward Tokens, these tools help them get started in the Web3 space.

The Untold History of Cryptography

The web3 space is very much alive with activity, purpose and staying power, but the mainstream media is too focused on its negative narrative to draw attention to it. Now, more than ever, Web3 projects need the help of content creators to spread awareness, education, and messaging. Web3 marketing platforms have a pivotal role to play in showing creators and influencers that there are exciting opportunities for reinvention and revenue in the alternative world of Web3.

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