If you caught our episode of #MarTechFest Dial Up with Content Kings Joe Pulizzi and Robert Rose, first up - you're welcome. Secondly, we have lots of things to discuss.
2022 will be an exciting time for marketing, we all know this. But it's been the last few months of this year which have acted as a catalyst.
And in one word, that catalyst is: de-centralisation.
But it's Web 3.0 we're taking a further look into today. This is something that will inescapably shake up the world of marketing specifically. Right now, we're living in peak web 2.0, according to Joe Pulizzi. The social platforms which have reigned supreme in this era have risen to the heights of their prominence. And there's only one way to go from there, and that's down.
Joe suggests that users of these platforms are fed up, especially those who create. Think the mass exodus of YouTubers to Twitch in recent years. These creators' homes have not been social platforms in quite some time.
Robert agrees. We've seen creators building their own little communities away from the all-controlling hands of social giants. R hears they've been asking:
Why are we building their audience, and not ours? People are sick of living in the halo of Facebook's trust."
Joe and Robert both have their own definitions of the web iterations, offering a creator-focused perspective of each one.
Web 1.0. Web 1.0 was all about reading, and getting information.
Web 2.0 was all about reading, writing, and creating. So, users joined social platforms, and these platforms got big because of this created content.
Web 3.0 is all about reading, writing and owning. So, builders and creators can now own a piece of their own community, through NFTs, tokens etc. With Web 3.0, a lot of traditional loyalty programmes, such as for companies like Starbucks, will become token driven. Users will get some value and ownership through these tokens, which they can trade, use for perks, or keep for access purposes. Basically, loyalty becomes valuable, and it's all about ownership.
Web 1.0 involved helping people find something better.
Web 2.0 involved helping people experience something better.
Web 3.0 will involve helping people create something better.
He suggests, at the moment, we'll be seeing some sort of Tulip Mania - a term used to describe people investing huge amounts speculatively, because of positive sentiments around that specific thing. People went mad for tulips in the 17th century Netherlands, apparently.
But the technology, and the co-creation tech which gives customers a voice in what's being created is far from this. It might be hosting a fad for now, but the backbone of this tech is what counts.
Robert gives the example of Lego. The toy company understands its community - community, not customers - on board through their ability to co-create products. They can go online to propose, and vote on, what product is bought into the market place.
For Joe, the idea of tokenisation can mean being able to co-own, co-create, or co-experience, through content, products, or loyalty. So, the tech of blockchain, and tokens, will shift and provide for the next level of what opt-in really means.
But who else is excited about the growth in this space? Well, you don't have to go far to find out.
In the first edition of this iteration of Dial Up, Steven stressed the importance of decentralisation, be it in the form of De-Fi, NFTs, blockchain, or tokenisation. This is the kind of independent technologies away from central powers which Web 3.0 relies on.
And this decentralisation, in how it applies to marketing, means power moves into the hands of creators. Web 2 saw the growth of social media giants like Facebook and Twitter, utilising data and pervasive advertising. Whereas Web 3.0 is growing from the ashes of this space, which has destroyed consumer trust due to data and power breaches. And this decentralisation extends to digital content.
But what does Steven Bartlett think? Well, challenging the content-creator crown himself, S.B sees Web 3.0 as a way to aid the creator economy.
You can now own the thing you create…I can now tokenise my community.
That means if you’re a ticketing company, if you’re a fashion brand, if you're an entrepreneur, if you’re a creator, you can now own the things you create”.
The creator economy has enabled individuals to create digital content that utilises blockchain technology. This could, number one, alter what the financial landscape looks like for these creators, and number two, make it possible to earn a lot of money on a single piece of work alone.
Peter Yang believes that, with NFTs, creators won’t have to deal with intermediaries who can take control of content rights, as well as their visibility and a percentage of earnings.
Platforms like BitClout have sprung up out of all this excitement. Over one seven days period the site saw 4,000 NFTs created, with 7,000 bids made, and 2,000 sold. BitClout self-describes as "decentralising social media."
“So, for me, instead of having followers, who are just numbers on my Instagram, I can now tokenise my community," says Steven.
So, he can develop a Steven Bartlett token or card, drop it for free, and everyone who gets one gets special access to him and his content. From special messages, to royalties on the money he makes, his followers can benefit from supporting him directly, in the specific way they’d like.
“It’s like you betting on that future”
It’s about owning the things you consume, and benefiting financially from the things you consume. And Steven thinks this’ll cause a massive shift.
He’s talking to the most forward thinking brands about NFTs, and is planning NFT drops for them.
”Don’t think about it like art. Think about it like removing the middle man”
Hate to miss out? Well, you can catch the entire sesh on demand, right here! 👈