In this series we'll look at the trends that arched across sectors, from finance to pharma, retail to travel, and be examining how businesses of all sizes have responded to these trends.
'Web3' is a term used to group together various technologies like blockchain, cryptocurrency, non-fungible tokens (NFTs) and the metaverse. While originally coined in 2014, the idea of 'web3' truly rose to widespread prominence in 2021, as NFTs captured the imagination of businesses and many consumers. This was swiftly followed by the metaverse, which was hailed as the future of online interaction, with Facebook (now known as Meta) and Microsoft among the major tech companies making big investments.
However, the new paradigm of web3 is looking a lot less certain on the heels of a volatile 2022 and an inauspicious start to 2023. What happened to web3 in 2022, and what might this mean for brands with web3 projects?
- NFTs: in search of a use case
- NFTs as digital wearables?
- NFTs as community?
- NFTs as loyalty scheme?
- Whither the metaverse?