Before we go into what matters for web3 brand building, it is important to outline a single, fundamental principle — brand building in web3 is decentralised. Anyone serious about web3 brand building needs to start here.
At this very point in time, there are stupendous success stories of native, web3 brands and web2 brands transitioning into web3, while on the other hand there are numerous failures. There are brand builders who are getting it right, and equally (if not more) who are getting it completely wrong. So, how do you ensure that your brand is a web3 success?
We will discuss some principles of web3 brand building success, one of which we have already touched upon in the first paragraph. These principles will help you go much beyond just designing a logo, coming up with a slogan or typeface or a set of visual identities. They will be your secret sauce in crafting and implementing a strong and differentiated positioning for your brand.
Firstly, decentralization is not a plain vanilla feature. You need to first ask whether your brand is ready for decentralization. Many brands will find it easier to embrace this dynamic, while many will struggle. This leads to an even bigger question — whether you are ready to enter web3.
If you think you indeed are ready, then decentralisation means building your brand as a shared entity, which is going to be shaped by the users who engage with it. Most traditional firms that have seen web3 success have adopted strategies that allow their brands to be shaped by a community of fans and creators. As it is not plain vanilla, this decentralized approach can take many shapes:
- Full decentralization wherein you allow significant creative freedom to fans and creators to build the brand they want (a case of highly malleable IP)
- Partial decentralization wherein you keep certain aspects of your brand under control, and allow other aspects to flourish
- Limited decentralization, where majority of the branding assets remain unchanged during a web2 to web3 transition, and only very limited elements are set free (for example, get creators to design a communication campaign)
Launching NFTs, however successful they might become, are not examples of full…