In this insightful discussion between Brent and McKenna, they delve into the multifaceted world of Web 3.0, explaining it as both an abstract and broad concept, yet a crucial evolution in how we consume and own content online. Starting from Web Zero, represented by traditional newspapers, McKenna navigates through the progression to social media, which made content a two-way conversation among users, brands, and media companies.
Highlighting the diverse nature of content, ranging from written word to art, fashion, and commerce, McKenna anticipates a future where the digital world incorporates 3D elements, alluding to platforms like Roblox and Fortnite as precursors to an imminent Metaverse. The conversation delves into the inherent need for digital ownership in this increasingly online existence, pinpointing blockchain technology as a solution, especially in the context of NFTs.
They also touch upon related technologies like augmented reality and virtual reality, which though tangential, play a role in these immersive 3D worlds. Discussing the implications of Web 3.0 from a marketing perspective, McKenna notes the need for a publicly distributed yet private ledger, ensuring there’s no single point of failure for data. However, the tension between privacy and the public distribution of data becomes evident, particularly when it comes to token gating, which opens up new avenues and challenges for marketers.
They also explore the possible trajectory towards a “cookie-less” future, considering the idea of tokens as a replacement, enabling a more direct and intimate brand-customer relationship. Though the pool might become smaller, this scenario fosters a more engaged audience, thereby increasing customer lifetime value.
The podcast concludes with McKenna’s optimism about Web 3.0, considering it as a significant shift towards the consumer’s advantage, leading to a more tangible connection with brands and prompting more informed, involved consumer behavior. In turn, this evolution brings opportunities for marketers, introducing new ways to leverage consumer data with consumer consent, opening a new chapter in the digital marketing landscape.
