Web3 is still in its nascent stage, and many companies have only just begun to explore the business opportunities it can provide. The possibilities are endless, but similar to the early days of the internet and the rapid expansion of Web2 in the early 2000s, engaging with Web3 can feel daunting and unnerving.
To gain Web3 experience and the knowledge needed to fully leverage its capabilities, there are a number of tools and resources one can use to achieve success and manage the risks. Our favorite tools include the following:
There are several key indicators that help us track the evolution of Web3, including the price of major cryptocurrencies and the number of new registrations and user engagements on various Web3 platforms. Analytic platforms such as Hello Moon can help track historic trends, forecast future happenings, and help users gain a better understanding of how major platforms are evolving in real time. Understanding market trends will accelerate the Web3 learning curve, and enable marketers to make informed decisions about when and where to engage.
Tracking User Behavior and Engagement
Similar to Web2, a key to success in mastering Web3 is to understand your audience. Blockchain explorers, such as Solscan and Etherscan, can help marketers monitor transactions, track token/NFT holdings, and scrape top influencers via social media, sorting them by portfolio value, which can help strategically align your business with potential audiences. Blockchain explorers will also detect the Web3 applications people are using the most, and the ideas and projects in which they are investing. This information can help you decide how to best align your objectives with the right audience, improve your marketing strategy, and increase user engagement.
Connecting with Users
There are also Web3 tools such as @hey_wallet that can help to build connections. Hey Wallet! is the world’s first crypto wallet built on Twitter, and makes it so that any Twitter account now has the ability to engage in Web3. Not only can you send and receive crypto with just a tweet to any account, but it also has a function that lets you craft messages and reward those who retweet, follow, or listen to live talk spaces (e.g., “send 200 tokens to the first 1,000 retweets”). This tool, and others like it, foster engagement, helping to spread awareness of content and build a direct relationship with key audiences.
Listening to the Audience
CryptoTwitter/Spaces and Discord are great tools for social listening. “Listening” in this way can help gauge audience sentiment and perception, and determine the solutions that are meeting users’ needs and demands. This strategy has a low barrier to entry, offering a quick path to begin understanding the nuance and value of different Web3 communities.
Learning from the Early Adopters
Sometimes the best way to learn something new is through osmosis. With that in mind, here are several brands that have successfully engaged audiences via Web3 platforms and technologies.
Web3 is an ever-growing sphere of tools, platforms, and technologies that are ripe for experimentation. Tell us what you think about these tools and any others you would recommend using
Interested in learning more about Web3? Check out the first articles in our series A Brief Intro and Overview of Web3 & Web3 and Business Today, and keep an eye out for more coming in the next few months!