Digital marketing will become Web3’s next major use case, says report

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The Web3 ecosystem may turn out to be the subsequent golden alternative for digital entrepreneurs, with virtually 200 corporations already “considering deeply” about how you can make the most of the Web3 tech stack.

On July 25, Web3 advertising analytics agency Safary launched a complete report titled The Web3 Development Panorama 2023.

It famous that the 2010s had been the “golden age of digital advertising” with Web2 development seeing 150 advertising corporations in 2011 improve to 11,000 in 2023.

Nonetheless, over the past three years, the digital advertising panorama has to a extra privacy-centric surroundings. Subsequently, entrepreneurs might also want to vary tack and embrace the Web3 tech stack, it stated.

Their findings reveal that there are at present virtually 200 corporations already “considering deeply” in regards to the new digital media panorama, and 71 of them have collectively raised $600 million in funding.

Market map exhibiting 180+ groups constructing Web3 development instruments and experiences: Supply: Safary

Messaging, Questing, and Loyalty platforms are probably the most well-funded classes, it reported, with every attracting greater than $100 million in funding.

Quest platforms like Yield Information Video games create engagement marketplaces, directing customers to finish incentive affords. This facilitates a extra direct brand-user relationship than advertisements.

Moreover, loyalty corporations assist manufacturers improve buyer worth and retention by means of rewards packages powered by NFTs and tokens.

There are additionally analytics instruments for entrepreneurs like Nansen and Dune that combination on-chain, platform, and social knowledge to uncover development insights on Web3 communities.

Discovery platforms corresponding to DappRadar “have the potential to be among the largest advert actual property proprietaries in Web3,” it added, offered they put money into long-term methods like website positioning. It additionally cited CoinMarketCap for example of one in every of “the very best trafficked web sites on the web.”

There are additionally 18 Web3 development companies that advise and deploy development methods on behalf of blockchain initiatives.

Associated: Web3 has completely modified how advertising works

Advertising business analytics outlet Chiefmartec has logged 11,038 advertising options and companies this 12 months general, an 11% improve from the 9,932 it charted in 2022.

As Web3 evolves and grows, entrepreneurs might want to sustain and it seems that lots of of startups already have a head begin.

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