Digital marketing may find its new thriving arena in the Web3 ecosystem, with a report from Safary indicating almost 200 companies pondering over the utilization of this novel tech stack.
The Rise of Web3 Marketing
The “Web3 Growth Landscape 2023” report by Safary, a leading marketing analytics firm, was released on July 25. The report marks the 2010s as the “golden age of digital marketing” that saw a steep rise in the number of marketing companies, from 150 in 2011 to 11,000 in 2023.
The past three years have witnessed the digital marketing landscape shifting towards a more privacy-focused environment, necessitating marketers to adapt and harness the power of the Web3 tech stack.
The Landscape of Web3 Marketing Startups
The report reveals that about 200 companies are already making strides in understanding the new digital media landscape. Among these, 71 startups have managed to raise a whopping $600 million in funding collectively.
Messaging, Questing, and Loyalty platforms emerged as the most funded categories, each attracting over $100 million. Quest platforms such as Yield Guide Games are reshaping the relationship between brands and users through direct engagement marketplaces.
Leveraging NFTs and Tokens for Customer Retention
Loyalty companies are using NFTs and tokens to enhance customer value and retention with rewarding programs. Analytical tools like Nansen and Dune are providing marketers with in-depth insights into Web3 communities by aggregating on-chain, platform, and social data.
Uncovering the Potential of Web3 Ad Real Estate
Discovery platforms like DappRadar and CoinMarketCap are poised to become significant proprietaries of ad real estate in the Web3 realm, given they focus on long-term strategies like SEO. There are also 18 Web3 growth agencies already advising and executing growth strategies for blockchain projects.
As per Chiefmartec, an analytics outlet for the marketing industry, there’s been an 11% increase in marketing solutions and services this year compared to 2022, hitting 11,038 in total.
The Future of Digital Marketing in Web3
With the constant evolution and growth of Web3, marketers will need to keep up. It appears that hundreds of startups have already made their move, gearing up for this next big revolution in the digital marketing sphere.