Page 33 - ADNews magazine March-April 2022

www.adnews.com.au | March - April 2022 33
audience, but the opportunity to take your mainstream audience into the new online world. To be successful, you need to be authentic. Web3.0 is all about community so you need to invest in where the Web3.0 audi- ence are (Discord and Twitter).
“Don’t be afraid to make mistakes. Even the biggest projects experi- ence rollout issues. The rewards for embracing Web3.0 early far outweigh the risk.
“There is money to be made, but also money to be lost. Do your research. As with any investment opportunity, it’s important to under- stand what you are investing in. Consider which metaverse you buy in. Consider how easy it will be to build in there. As in the real world, loca- tion, location, location is everything. Look at who your neighbours are (and make sure you really know who they are). You could be next to Snoop Dogg or someone pretending to be Elon.”
Jordan Taylor-Bartels at Magic: “Advertisers and marketers need to
“Most consumers are not yet ready to use the metaverse on a regular basis, therefore, it’s not mature enough
to be a regular advertising channel yet, only some pilot marketing.”
Analyst, Forrester, Xiaofeng Wang
begin to understand the technol- ogy behind the platform now, not just its revenue-opportunity; and we must not make the same mis- takes that we, as industry, made with data and privacy. We need to, as a collective, fundamentally understand:
“Blockchain, who it was made by, why it is so intrinsically reliant upon Ethereum and Solana.
“Non-fungible tokens, and what the contracts enable, and why the decentralisation of intellectual property repositories (via these smart contracts) will bring account- ability and speed-of-delivery that no one has witnessed before
“The worst thing that can hap- pen is that brands enter the space as early-adopters, but don’t inno- vate ... What the space needs now is committed brands”