Mumbai: Web3, blockchain, and metaverse are three concepts that are generating a lot of buzz and enthusiasm in the domain of business technology right now. There are new technologies emerging all the time, and web 3, blockchain, and metaverse are among those that have the potential to change many industries. Digital marketing is always evolving and developing as new technologies emerge. We now have a much better approach to connecting consumers and companies as we go to Web 3. The metaverse, on the other hand, is now a catch-all term for virtual worlds in which users may connect with one another and interact using applications and services in a significantly more realistic manner. With the advent of digital marketing, various new and innovative internet marketing trends have emerged to target customers. Things are set to change again, especially with the advent of blockchain technology.
Let's have a close look at what Web3, blockchain, and metaverse play in digital marketing and how these three are changing the dynamic of the industry-
1) Web3
What really is the purpose of the name web3? because it is expected to be the third significant development of the internet, following the worldwide web (web1) and the consumer web (web2, or social media). The idea behind the creation of web 3 was to create a more democratic internet. No single party will be able to restrict the information flow or "pull the plug" and terminate a network just because they possess the hardware on which it runs.
Web 3 undoubtedly raises the bar in order to provide something innovative and remarkable, but also engaging and uplifting in the digital marketing industry. Web 3 seems to be something that allows businesses to engage with customers and give them reliable solutions. It clearly works, and if used correctly, it may yield fantastic benefits. Web3 intends to be wiser and more knowledgeable than earlier internet eras. We can anticipate digital marketing changing as a result of newer, more immersive technology. Digital marketing is by far the most effective method of reaching out to audiences and consumers.
2) Blockchain
Blockchain technology improves transparency, prevents fraud, and ensures that data collection is done correctly and without issues. It undoubtedly contributes to this element and experience, yet pushes the boundaries in a really unique way. Blockchain marketing is a modern digital marketing method that makes use of blockchain technology. A blockchain is a database that enables transactions to be safe, transparent, and tamper-proof. It is an ideal marketing tool since companies can trace data transfer and guarantee its accuracy.
Blockchain technology overcomes this problem by bypassing networks such as Facebook and Instagram, providing companies with immediate access to their clients. As an outcome, companies may be more creative in their marketing strategies and more proactive when anything goes wrong.
3) Metaverse
Marketing in the metaverse is still very much in development. While everyone wants to enter the metaverse, leading companies say that the industry is still trying to figure out what marketing in the virtual world entails, whether through social media, public relations, or digital marketing. An entrepreneur evaluates and understands if marketing in a metaverse leads to a greater return on investment (ROI) or more engagement with their end customers than marketing in the digital or physical worlds where they are directly targeting their consumers.
Old-fashioned advertising methods are being phased out in favour of fresh concepts that reach individuals of all ages. Influencers, who post photos or videos on social media platforms like Instagram and other platforms to show off their products in an engaging way, are the most popular type of digital marketing—it's not uncommon for personal sponsorships from everyday people with a large number of followers (or "influencer") accounts to attract thousands, if not millions, more views than traditional ads alone!
Web3, metaverse, and blockchain are technologies that will influence our future. As we speak, the way we live, earn, and socialise is changing dramatically. The greatest method is to have an open metaverse in which everyone may come and depart whenever they choose. This is where everyone may explore projects and communities that they are interested in. Blockchain technology is changing not just the way digital marketers buy advertisements, but it is also opening up new prospects for small companies. Blockchain's security, transparency, and simplicity will revolutionise the way businesses do business online, including making their social responsibilities more visible to customers.
The author is Hyper Connect Asia co-founder and business & growth lead Ankur Pujari.
