Entering the Web3 Space: A Guide for Big Brands. Fireside w/ Artūrs Garais & Aléksa Mil

Learn how big brands can successfully enter the Web3 space by building a loyal community, providing real utility, and having a clear strategy. Experts share insights on choosing the right blockchain, overcoming challenges, and working with experts.

Key takeaways
  • Web3 is about community and building relationships with customers. Brands should focus on creating a loyal community that feels valued and appreciated.
  • Utility is key. NFTs and tokens should provide real value to customers, such as access to exclusive experiences, discounts, or rewards.
  • Don’t just do a marketing stunt. Brands should have a clear strategy and long-term vision for their Web3 initiatives.
  • Start small. Brands don’t need to do everything at once. They can start by experimenting with a few small projects to learn and grow.
  • Choose the right blockchain. There are many different blockchains to choose from, each with its own advantages and disadvantages. Brands should carefully consider which blockchain is right for their needs.
  • Be prepared for challenges. Web3 is a new and evolving space. Brands should be prepared for challenges, such as regulatory uncertainty, security risks, and user adoption.
  • Work with experts. Brands should partner with experts who can help them navigate the Web3 landscape.
  • Be patient. It takes time to build a successful Web3 community. Brands should be patient and persistent in their efforts.
  • Don’t forget about the human element. Web3 is about more than just technology. Brands should remember that they are still dealing with people, and they should focus on creating a positive and engaging experience for their customers.
  • Be transparent. Brands should be transparent with their customers about their Web3 initiatives. They should explain the benefits and risks of Web3, and they should get customer consent before using their data.