Report Digital marketing will become the next major use case for Web3.
Digital marketing is the next major use case for Web3.
Author: MARTIN YOUNG, COINTELEGRAPH; Translation: Song Xue, LianGuai
The Web3 ecosystem may become the next golden opportunity for digital marketers, with nearly 200 companies already considering how to leverage the Web3 technology stack.
On July 25th, Web3 marketing analytics company Safary released a comprehensive report titled “2023 Web3 growth prospects”.
The report points out that the 2010s were the “golden age of digital marketing”, with marketing companies increasing from 150 in 2011 to 11,000 in 2023 with the development of Web2. However, in the past three years, the digital marketing landscape has shifted towards a more privacy-centric environment. Therefore, marketers may need to change their strategies and embrace the Web3 technology stack.
Their survey results show that currently there are nearly 200 companies that are “deeply considering” the new digital media landscape, with 71 companies having raised $600 million in funding.
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Market chart showing over 180 teams building Web3 growth tools and experiences: Source: Safary
According to reports, messaging, query, and loyalty platforms are the most well-funded categories, with each platform attracting over $100 million in funding.
Quest platforms such as Yield Guide Games have created participation markets that guide users to complete incentive offers. This is more advantageous than advertising in establishing more direct brand-to-user relationships.
In addition, loyalty companies help brands increase customer value and retention through reward programs supported by NFTs and tokens.
There are also analysis tools available for marketers to use, such as Nansen and Dune, which aggregate on-chain, platform, and social data to discover the growth of the Web3 community.
Discovery platforms like DappRadar have the potential to become the largest advertising real estate owners in Web3, provided they invest in long-term strategies such as SEO. The survey also cites CoinMarketCap as an example of “one of the highest-traffic websites on the internet”.
There are also 18 Web3 growth agencies that provide advice and deploy growth strategies for blockchain projects.
The marketing industry analysis firm Chiefmartec has recorded a total of 11,038 marketing solutions and services this year, an 11% increase from 9,932 in 2022.
With the development and growth of Web3, marketers need to keep up, and it seems that hundreds of startups have already seized the opportunity.