One of the simplest yet most pertinent thoughts shared by a speaker at the recent Zebu Live conference in London was the suggestion that brands and content creators approach web3 as they do social media.
Imagine the following scenario:
You create an Instagram account for your company. Then, for your first post, you ask your customers to spend hundreds or even thousands of dollars on your product.
This would clearly be a ridiculous strategy to build your brand and business on social media.
But this is exactly how companies are kicking off their web3 presence.
Each day, collections of 1000, 5000 or 10,000 NFTs are listed for sale with little groundwork or thought for wider goals or opportunities in the space.
Asking for your customers’ money with no investment on your part is highly unlikely to generate meaningful revenue but will harm your brand.
Instead: invest in your web3 strategy, serve your customers, and you’ll be paid back over time.