When creating an NFT or metaverse strategy, brands have many challenges to navigate. Beyond the technical knowledge of blockchain technology and token standards, there is an immense amount to understand about the capabilities of NFTs, the intricacies of community development, pitfalls of brand reputation, and the sometimes-peculiar online crypto crowd.
Large brands have already sought out both consultation and technical services from web3-native companies to launch their NFT activations. We anticipate these sorts of partnerships to accelerate, and for an identifiable ecosystem of “web3 partners” to emerge — companies with strong web3-native expertise who carve out a niche in guiding large brands through blockchain activations. Critically, we expect most, if not all, of these web3 partners in the medium term to adopt web2.5 frameworks — leveraging existing networks, existing distribution, and existing channels to promote web3 assets.
Regardless of what technology, platform, or trend is grabbing global attention, the goal of brands has always remained the same: attract and retain loyal customers. Decentralized technology isn’t asking brands to reconsider their entire business goal. Rather, it’s providing alternative, more enriching ways to engage, grow, and reward their communities. The brands that successfully activated NFT strategies during the first wave of popular adoption in 2021 did so in the web2.5 model, demonstrating the payoff and the power of innovation and brand evolution.
Serotonin is the marketing firm and product studio for web3.
Mojito is an NFT platform allowing brands and creators to create, own, and manage their own branded marketplaces.Get in Touch