What Web3 Means for Marketers

Bridging the gap between fandom and ownership

Are you curious about what Web3 is and what it encompasses in its early stages? Wondering what the next era of the internet includes? What is an NFT, anyway? How do you get to the metaverse? Avery Akkineni, president of VaynerNFT, Allison Sturges, head of strategic partnerships at Genies and Rachel Webber, chief brand and strategy officer at Playboy, formed a panel at Social Media Week to break down what Web3 means for marketers.

Unlocking a monumental technology shift

According to Webber, deciding to enter Web3 was easy for Playboy. The brand saw several similarities between its mission and the mission of Web3.

“We really saw an intersection of the core values of Playboy around free expression, serving as a platform for artists, anti-censorship, giving people an ability to participate and feel part of a community,” she said.

Playboy entered the space through the art lens for its first NFT drop, a collaboration with the artist SLIMESUNDAY.

“We gave him access to the Playboy archive to create new original work utilizing previous art and typography that we had,” Webber explained. “We loved the ability of NFT drops to reinvent and show the regenerative nature of an archive and the power of art and photography and the ability to turn that into new collectibles and new consumer experiences.”

Webber said Web3 was an instrumental tool in fostering deeper, more meaningful connections between the Playboy brand and fans.

“For us, access to the Playboy archive, access to a Playboy party, are very much getting access to the Playboy lifestyle, and that’s authentic to the type of experiences that we believe Playboy can offer.”

Bridging the gap between old and new

According to the panellists, Web2 and Web3 work together, and they should be used mutually to help bridge the gap between Web2 and Web3.

“With anything within marketing and social media, you have to understand which metrics are living on which platforms,” Sturges said. “For us, we’ve been able to establish the fact that Twitter and Discord are where the NFT natives are spending their time. So, we leverage both of those platforms to build out our platform. Discord has been a way for us to create directly with our users and get product feedback. It’s a great tool for us to connect and build actual relationships with our users.”

According to Sturges, the ethos of Web3 is all around giving back ownership and freedom as marketing bridges the gap between Web2 social and Web3 ownership.

“I think for brands and marketers, finding ways to provide that ownership and freedom for your users, fans, and customers is key,” she said.

“Back in January, Genies announced we would give full ownership to our creators, users, and talent — really allowing them to have full commercialization rights of any of the creations they create within our ecosystem. That really gives a true sense of their identity. They created this; it’s a part of the digital IP they’re building. And they also have that ownership in what they want to do with it and how it can be leveraged. I think that’s really important as we move into the next stage of the internet.”

Feature Image Credit: Sean T. Smith for Adweek