Despite growing interest from Web 2.0 companies, the explosion of web3 into the mainstream, combined with the high complexity of the technology, has caught many on the back foot. There has been much confusion around how to integrate the technology into Web 2.0 business models in a way that is authentic, adds value to the customer and does not cannibalize existing revenue. There’s also plenty of healthy skepticism — is web3 enabling meaningful new user experiences, or is it just a hype bubble complicating what was already possible in Web 2.0?
There is, however, clearly inherent value in blockchain technology, and the gaming industry is poised to become the focal point for mainstream adoption.
While it’s still unclear what the winning models for web3 gaming will be, it seems increasingly likely that the next exponential growth in blockchain adoption will be driven by gaming and gamified experiences. The overarching vision for web3 gaming is to empower players with more control, reward them in proportion to the value they contribute and to lower the bar so that it’s not just the top 0.1% of players who can make a living through gaming.
To prepare for the shift to web3 content, Web 2.0 organizations should think about how their brand can exist within a traditional gaming environment.
If that can be achieved, then web3 gaming is going to fundamentally transform the career choices of millions and the entertainment industry for just about everyone.
Despite how promising this opportunity is, it can be a daunting prospect for many Web 2.0 brands looking to capitalize on the benefits offered by web3 gaming. So, where do we begin?
Take baby steps
Non-gaming brands have already woken up to the potential of gaming for building awareness with younger audiences. Fortnite has become famous for this type of activation within their game, such as their recent Balenciaga X Fortnite collaboration.
But the key difference in blockchain gaming is that commercial activity is already built into the core of the game. Similar activation can therefore take a player from brand awareness to conversion with less deviation than standard gameplay.