Despite growing interest of Web 2.0 companies, the explosion of Web3 into the mainstream, combined with the sheer complexity of the technology, has taken a lot of their toll. There has been a lot of confusion about how to integrate technology into Web 2.0 business models in a way that is genuine, adds customer value, and doesn’t cannibalize existing revenue. There’s also a lot of healthy skepticism – does web3 enable meaningful new user experiences, or is it just a hype bubble that complicates what was already possible in Web 2.0?
However, there is clearly an 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 will be for Web3 games, it seems increasingly likely that the next exponential growth in blockchain adoption will be driven by games and gaming experiences. The overall vision of Web3 gaming is to give players more control, reward them proportionally to the value they bring, and lower the bar so that it’s not just the top 0.1% of players who can win their lives through gambling.
To prepare for the shift to Web3 content, Web 2.0 organizations need to think about how their brand can exist in a traditional gaming environment.
If this can be achieved, then Web3 gaming will fundamentally transform the career choices of millions of people and the entertainment industry for just about everyone.
Despite the promise of this opportunity, it can be a daunting prospect for many Web 2.0 brands looking to capitalize on the benefits offered by Web3 games. Where do we start?
Take baby steps
Non-gaming brands have already realized the potential of gaming to increase awareness among younger audiences. Fortnite has become famous for this type of activation in its game, such as its recent collaboration Balenciaga X Fortnite.
But the main difference in blockchain gaming is that business activity is already built into the core of the game. So a similar activation can take a player from brand awareness to conversion with less deviation than standard gameplay.