The Web3 ecosystem could be the next golden opportunity for digital marketers. Nearly 200 companies are already deeply considering how to utilize Web3 technology. On July 25th, Safary, a Web3 marketing analysis company, published a comprehensive report titled “Web3 Growth Potential 2023”. According to the report, over 70 startups have raised over $600 million in the Web3 digital marketing sector.
The report highlights the growth of the Web2 era, where the number of marketing companies increased from 150 in 2011 to 11,000 in 2023, making the 2010s the “golden age of digital marketing”.
However, in the past three years, the digital marketing landscape has shifted towards a more privacy-centric environment. Therefore, entrepreneurs may need to change their direction and embrace the Web3 technology sector.
The findings mentioned in the report reveal that there are currently nearly 200 companies “deeply considering” the new digital media landscape, with 71 of them raising a total of $600 million in funding.
Messaging, Research, and Loyalty platforms are identified as the best-funded categories, each raising over $100 million in funding.
Research platforms like Yield Guide Games are creating interactive marketplaces that incentivize users to complete rewarding offers. This facilitates a more direct brand-user relationship than traditional advertisements.
According to the report, loyalty companies also help brands enhance and retain customer value through NFTs and token-backed reward programs.
There are also analysis tools, such as Nansen and Dune, that bring together on-chain, platform, and social data to uncover growth drivers in Web3 communities for marketers. Discovery platforms like DappRadar have the potential to be one of the largest advertisers in Web3, provided they invest in long-term strategies.
The marketing industry saw an 11% increase in the total number of marketing solutions and services, reaching a total of 11,038, according to Chiefmartec, a data analysis firm.