Digital Marketing Will Become Web3’s Next Major Use Case, Says Report

The rise of Web3 presents a promising opportunity for digital marketers, with nearly 200 companies already exploring ways to leverage the Web3 tech stack. Safary, a Web3 marketing analytics firm, recently released a comprehensive report titled “The Web3 Growth Landscape 2023,” highlighting the potential for growth in this new era.

The report points out that the 2010s were considered the “golden age of digital marketing” with Web2 technology, witnessing a significant increase in marketing companies from 150 in 2011 to 11,000 in 2023. However, the digital marketing landscape has shifted towards a more privacy-centric environment in recent years, prompting marketers to adapt and embrace Web3 technology.

According to Safary’s findings, almost 200 companies are actively exploring the possibilities of the Web3 digital media landscape, and among them, 71 have collectively raised an impressive $600 million in funding. The most well-funded categories include Messaging, Questing, and Loyalty platforms, each attracting over $100 million in funding.

Quest platforms like Yield Guide Games create engagement marketplaces, fostering direct brand-user relationships through incentive offers instead of traditional ads. On the other hand, loyalty companies use NFTs and tokens to power rewards programs, enabling brands to enhance customer value and retention.

Web3 also offers analytics tools like Nansen and Dune, which aggregate on-chain, platform, and social data to provide growth insights on Web3 communities. Additionally, Discovery platforms like DappRadar have the potential to become significant advertising real estate in the Web3 world, provided they invest in long-term strategies like SEO. CoinMarketCap is an example of one of the most highly-trafficked websites on the internet.

Moreover, 18 Web3 growth agencies specialize in advising and implementing growth strategies for blockchain projects. Chiefmartec, an industry analytics outlet, has recorded 11,038 marketing solutions and services in 2023, marking an 11% increase from the previous year, demonstrating the growing interest in the Web3 space.

Marketers must stay ahead of the curve as the Web3 ecosystem evolves and expands. The fact that hundreds of startups are actively exploring Web3’s potential signifies the immense growth opportunities in this new digital frontier. Web3 could become the next golden opportunity for marketers willing to embrace the change to make their mark in the industry.