HOW DOES WEB 3.0 LEAD A CULTURAL PHENOMENON
Web3 is not merely a technological advancement for the next generation of Silicon Valley unicorns; it is also a cultural phenomenon.
Web3, as the initial digital trust layer for the internet, is igniting a cultural revolution and reshaping the dynamics between users, assets, and businesses.
Countless NFT collections across various blockchains have emerged, resulting in billions of digital items being traded. However, it is time for us to move beyond Profile Pictures (PfPs).
It is time for Web 3.0 to approach the mass market, where millions, if not billions, of users, collect, trade, and assign value to their digital possessions.
To achieve this, technology must go beyond functional value and embrace cultural value. It needs to establish a personal connection.
In the 1990s, Tamagotchis, the popular digital pets, was a cult. Handheld devices displayed virtual pets that users could care for, requiring feeding and playtime. Neglecting the pet could result in its virtual demise. Tamagotchis became a cultural phenomenon, marking one of the earliest instances where technology felt “personal” to millions of users. Zynga’s Farmville did the same. People were so attached to the animals and plants they were raised on farms that if they went on vacation, they would assign their friends to feed them. Crypto-Kitties evoked the same emotion in their owners.
For Web 3 to attain cult status, NFTS must become more personal and infused with cultural values. The emotions attached to NFTs and digital goods are the future of how deep Web 3 will inculcate as a norm.
Digital Products will need to be designed with a foundation of behavioral science.
Singularity: Online persona is a complex social psychological phenomenon. Communication in cyberspace always carries degrees of anonymity, for users present virtual identities constructed by themselves in cyberspace, hiding their real identities and constructing their online identities. New media provides tools and environments for virtual identity building.
Although the anonymity of the internet facilitates the subjects’ construction of their virtual identity, their online virtual identity is not entirely anonymous and can be identified and authenticated online. Identification is a social process that matches internal self-identity with external identity types, and it is also a process and a reflection of internal perceptions.
Synergy: The synergy between physical and digital continues to strengthen as consumers demand a seamless experience when making a purchase and how purchasing is no longer a “one-and-done” event but the initiation of a broader journey for organizations to capitalize on.
Sentiments: By incorporating sentimentalism, an item transcends its mere function and acquires a more profound significance through storytelling and culture. This infusion of intangible value is what ultimately ensures its sustainability.
The ultimate connection is made when physical items can become a part of that individual's identity in their digital life. Therefore, if an item has value, it must be an NFT.
So, Alfa Romeo need not just release a picture of its new 2023 model but also use an NFT to codify, financialize and digitally commodify its new release as a cultural asset.
Web3, as the initial digital trust layer for the internet, is igniting a cultural revolution and reshaping the dynamics between users, assets, and businesses.
Countless NFT collections across various blockchains have emerged, resulting in billions of digital items being traded. However, it is time for us to move beyond Profile Pictures (PfPs).
It is time for Web 3.0 to approach the mass market, where millions, if not billions, of users, collect, trade, and assign value to their digital possessions.
To achieve this, technology must go beyond functional value and embrace cultural value. It needs to establish a personal connection.
In the 1990s, Tamagotchis, the popular digital pets, was a cult. Handheld devices displayed virtual pets that users could care for, requiring feeding and playtime. Neglecting the pet could result in its virtual demise. Tamagotchis became a cultural phenomenon, marking one of the earliest instances where technology felt “personal” to millions of users. Zynga’s Farmville did the same. People were so attached to the animals and plants they were raised on farms that if they went on vacation, they would assign their friends to feed them. Crypto-Kitties evoked the same emotion in their owners.
For Web 3 to attain cult status, NFTS must become more personal and infused with cultural values. The emotions attached to NFTs and digital goods are the future of how deep Web 3 will inculcate as a norm.
Digital Products will need to be designed with a foundation of behavioral science.
Singularity: Online persona is a complex social psychological phenomenon. Communication in cyberspace always carries degrees of anonymity, for users present virtual identities constructed by themselves in cyberspace, hiding their real identities and constructing their online identities. New media provides tools and environments for virtual identity building.
Although the anonymity of the internet facilitates the subjects’ construction of their virtual identity, their online virtual identity is not entirely anonymous and can be identified and authenticated online. Identification is a social process that matches internal self-identity with external identity types, and it is also a process and a reflection of internal perceptions.
Synergy: The synergy between physical and digital continues to strengthen as consumers demand a seamless experience when making a purchase and how purchasing is no longer a “one-and-done” event but the initiation of a broader journey for organizations to capitalize on.
Sentiments: By incorporating sentimentalism, an item transcends its mere function and acquires a more profound significance through storytelling and culture. This infusion of intangible value is what ultimately ensures its sustainability.
The ultimate connection is made when physical items can become a part of that individual's identity in their digital life. Therefore, if an item has value, it must be an NFT.
So, Alfa Romeo need not just release a picture of its new 2023 model but also use an NFT to codify, financialize and digitally commodify its new release as a cultural asset.
Web 3.0 allows brands to bring their communities closer to their presence. A group of people passionate about the brand and its culture can create a brand culture that surpasses the brand’s internal vision.
With decentralization as the guiding principle, empowering and connecting human systems and communities flexibly and interwoven is inevitable.
This shift combines newly developed horizontal coordination mechanisms alongside traditional top-down control, creating a stronger and more resilient social fabric.
In digital communities, ownership is not limited to just possessing that digital asset in your wallet; it means more than that. It is the tool of self-expression, a link to a person’s perspective that is more valuable here than in the physical world where everyone can own everything that someone else mass produces.
When people with the same interests, perspectives, hobbies, or viewpoints can converge around, they create the culture of communities, while the communities create the culture.
Iconic brands possess cultural significance, driven by the power of communities. These communities, in turn, are fueled by culture.
The relationship between community and culture is intricate, multifaceted, and constantly evolving. Building and maintaining thriving communities requires ongoing nurturing and effort.
This is why many Web2 brands entering the Web3 space need help to sustain engagement beyond the initial NFT drop.
On the other hand, branding in the Web3 era has remained essentially unchanged. Branding techniques continue to be essential for creating cultural relevance, and the most successful brands are still deeply rooted in culture.
Web3 augments communities by enabling digital ownership through a decentralized layer of trust, thus enabling new forms of utility.
Values, motivation, and milieu are reciprocal and require communities to operate cohesively.
The brands of the future will be constructed upon their purpose, utility, and the devoted communities that surround them, all while incorporating the concept of ownership. These brands will actively collaborate with their communities to foster mutual growth and create shared value.
“Community as a Service” (CaaS) plays a crucial role in the Web 3 growth ecosystem, especially as the market becomes more competitive and customer acquisition becomes increasingly challenging. The diminishing presence of brand loyalty is another significant factor driving the adoption of CaaS.
While the popularity of CaaS among brands is understandable based on our observations, there remains to be skepticism regarding the scalability and modularization of community building.
To succeed, brands must amalgamate values, motivation, and milieu in their Web 3 strategies.
Web3 inherently enables the transfer of digital assets across platforms through digital wallets, granting users actual ownership. However, these assets must be built using standardized protocols and frameworks to ensure seamless interoperability.
Interoperability is the key to enabling a smooth exchange of information and assets between various decentralized applications (dApps) and virtual environments.
It is widely acknowledged that for this new paradigm to thrive, users must be able to seamlessly transfer their assets between different virtual environments and platforms and between the virtual and physical realms.
Web 3 is already here and ready. And the communities are coming.
Talk to us at hello@liveplex.io about how to build Web 3.0 communities.
With decentralization as the guiding principle, empowering and connecting human systems and communities flexibly and interwoven is inevitable.
This shift combines newly developed horizontal coordination mechanisms alongside traditional top-down control, creating a stronger and more resilient social fabric.
In digital communities, ownership is not limited to just possessing that digital asset in your wallet; it means more than that. It is the tool of self-expression, a link to a person’s perspective that is more valuable here than in the physical world where everyone can own everything that someone else mass produces.
When people with the same interests, perspectives, hobbies, or viewpoints can converge around, they create the culture of communities, while the communities create the culture.
Iconic brands possess cultural significance, driven by the power of communities. These communities, in turn, are fueled by culture.
The relationship between community and culture is intricate, multifaceted, and constantly evolving. Building and maintaining thriving communities requires ongoing nurturing and effort.
This is why many Web2 brands entering the Web3 space need help to sustain engagement beyond the initial NFT drop.
On the other hand, branding in the Web3 era has remained essentially unchanged. Branding techniques continue to be essential for creating cultural relevance, and the most successful brands are still deeply rooted in culture.
Web3 augments communities by enabling digital ownership through a decentralized layer of trust, thus enabling new forms of utility.
Values, motivation, and milieu are reciprocal and require communities to operate cohesively.
The brands of the future will be constructed upon their purpose, utility, and the devoted communities that surround them, all while incorporating the concept of ownership. These brands will actively collaborate with their communities to foster mutual growth and create shared value.
“Community as a Service” (CaaS) plays a crucial role in the Web 3 growth ecosystem, especially as the market becomes more competitive and customer acquisition becomes increasingly challenging. The diminishing presence of brand loyalty is another significant factor driving the adoption of CaaS.
While the popularity of CaaS among brands is understandable based on our observations, there remains to be skepticism regarding the scalability and modularization of community building.
To succeed, brands must amalgamate values, motivation, and milieu in their Web 3 strategies.
Web3 inherently enables the transfer of digital assets across platforms through digital wallets, granting users actual ownership. However, these assets must be built using standardized protocols and frameworks to ensure seamless interoperability.
Interoperability is the key to enabling a smooth exchange of information and assets between various decentralized applications (dApps) and virtual environments.
It is widely acknowledged that for this new paradigm to thrive, users must be able to seamlessly transfer their assets between different virtual environments and platforms and between the virtual and physical realms.
Web 3 is already here and ready. And the communities are coming.
Talk to us at hello@liveplex.io about how to build Web 3.0 communities.