Web3 Media | European Blockchain Convention

foreign [Music] thank you everyone for being here so my name is Amari I'm working for Singularity Dao responsible for marketing and partnership Singularity is a decentralized protocol uh doing Ai and D5 built on ethereum and BNB chain everyone that is me in the middle uh that's a maybe nft but I'm Michael Lipman I work at creative industry called media monks and we are a traditional agency but we also have web3 offering which I'm a part of in The Innovation team we have around 10 000 people around the world in 30 plus countries so we're we're pretty much everywhere and I'm here both as a personal Builder but also as a nft onboarder for Brands that's me thanks my name is itai I'm one of the partners at market across we are a Tel Aviv Israel based uh PR firm and we work with some pretty cool players in the web 3 space and also help this event out a bit and um yeah pump to be here all right so we are we are here to talk a bit about media and web3 and one of the first question I wanted to ask you to both of you guys it's a bit for all the builders that are uh are here what are for you in what you're doing in your daily activities the main differences and the main purposes of using social social media PR because there are a lot of stuff that we can cover in marketing web 3 but each one has several purposes so um sure so my background is web 2 I guess before it was called Web 2 and we have a whole web 2 side of the business um it's funny um I I always say this and it's maybe not beneficial because I'm a PR guy but um blockchain's a bit over pr'd and under marketed um and um only in the web 3 space do I have clients who have um a announcement schedule but before they have a marketing plan um so I do think that there is maybe too much announcing and not enough just product building and that's also a lack of products so it is a a bit interesting because there's just a lot of news that happens in crypto that no one has anything to do with so project a and Project B do a partnership but project a is a protocol that has not yet been deployed in Project B is a is a market maker that has no nothing to do with any b2c people so not a lot of quote unquote things to do there so I just think there's a bit of a gap between the pr side which is still very interesting but it doesn't trickle enough yet to what's more traditional product marketing and that's a bit of a gap that I hope that the industry now as we're getting better products out there will Bridge a bit more less announcements more uh product features yeah I think what we have seen over the past 12 18 months is a huge hype cycle there's been a real rush to to getting Half Baked products out and um there has been you know a bit of a maybe a cash grab era in the brand nft space that is now leveling out and we're we're getting to a little bit more of a sort of maturity level where things are um becoming less volatile but more um more rigorous a little bit more established people are not just buying into things without doing their own research and understanding what they are buying into so I think it's actually important but is nft a product like do I like it's a cool activation we can talk about that but that's yeah a bit of a gap there where people think that the fact that they have a nft out there then that's it that's that's a product that we can run with that we're in that we're in the weather business right now I had two hours on canva and an AI generator and now we're in business so absolutely so we're going to see those more established can we call them blue chips that are the likes of you know Nike with artifacts and um stuff like I'm not going to mention board Apes but they are the one that people always refer to the Doodles of the world they are becoming the Next Generation IP and you know they all have to start somewhere too but if you look at someone like Doodles I think they're going to be like the next Generation Disney in the web 3 space and that that's where we can see a slight difference from uh just uh a group of people that have come together over a weekend to put something together versus um fully fledged businesses that are creating those products ah thanks guys and regarding something that you said it all that is interesting so you're coming from web 2 and I guess there are also some people here coming from web2 and what is for you uh to both of you again the big step that company is coming from web 2 have to do to do some marketing and Torito jumps in rep 3 because most of the people in web 3 come from traditional crypto let's say they get some crypto on centralized exchange they learn to beat the Discover web3 wallet and started doing D5 and stuff like that but that's not the case from directly brands from from web 2 and how do they get to their customers looking at the barrier the entry barriers like having a web 3 wallet and stuff like that without going by the crypto way how do you come from brands that I clean too so I think it's two-way um first of all I I think that web 3 people should understand that we live in a web 2 world that's again maybe can be fixing but it's there like a lot of times I meet projects I ask them who's your competition and they say we don't have any competition I said well we all live in a world that's maybe maybe centralized and can be approved but we're we're there so first of all I think web three people shouldn't think that we're inventing the wheel completely and everything's broken and everyone uh but also the other way around I think a lot of web two businesses get into web3 and I meet a lot of people saying oh you guys are a bunch of pirates doing uh you should be in jail but we're going to come in and fix it all we're going to do our data driven marketing and whatever and analytics and Etc and we're gonna kick all your guys asses because you're a bunch of like uh djen schillers and I just also don't think that that's correct we've still built a multi-billion dollar industry and people from all around the world traveling so first of all mutual respect from both sides um and also think that like that's the first thing and the second thing is why do Brands need I'm I I'm not trying to combat but why do Brands need to get into web 3 like why is that a necessity okay Nike did something really cool and it works but the concept that a b2c brand like Disney needs to be in web 3 then okay maybe they're stockholders or whatever want that but a cool way to do that is to build a decentralized prod product inside their their system I think that's a much cooler way than doing I guess uh nfts of Pocahontas now maybe that will end up being part of it but if you want to get into web 3 then how about like building something that looks like a web 3 product look at Facebook or meta it might be not decentralized but they're going really deep into that love it or hate it so I think brands should get into web 3 by developing an actual product in the space and no disrespect I might love or hate nfts I don't think nft is a product yeah so web 2 exists without the need for web3 in many shapes and phones but I think we both and to your point we both kind of need each other to grow the collective Industries so I think web 2 thinking that it's going to be the Crusade to kill off web 2 is not the approach I think we're in some sort of Middle Ground here where there is like a web 2.5 establishing where the web 2 players and the web 3 collaborate and I actually don't think that it is so black and white where we're going to have two separate factions and they're going to be at war with each other I just don't think that's the case I completely agree and I think what we're seeing is in the fintech space we're seeing the likes of you know Visa Mastercard Etc going actually up against the the new emerging players like moonpay and you know we're going to see a world where we won't need visa processes in one minute more than the moon payable process in the next year but that's just that's a like that's the fact right so moonpay is wanting to disrupt the traditional fintech space but the traditional fintech space is going to disrupt the web 3 players as well so I think it's healthy to have that competition between the two but I actually think that adding this this new decentralized layer onto the traditional Brands business offerings is going to be hugely powerful for them to enter the space authentically you know we talk about media monks where I work we talk about entering into this place space with firstly with the cultural creativity to understand how and why and where they're entering then following on with community and only then after that going into Commerce so it's kind of the three C's and if you just go straight to Commerce there can be a little bit of a kind of shortcut that people think they can do I actually want to continue from what he said I think that a great example actually is uh Starbucks in polygon so I think that that's a very cool example never mind never liked that one um first of all yeah it's not super decentralized Starbucks can change the terms and conditions whenever they want you can off you can't off-board the system but it is a usage of web3 and the main thing I love about it is there's no financial asset behind it and then people won't pissed because the problem with what we talked about about the panel is I think a huge difference between web 2 and web 3 I love Netflix I love Netflix but I don't care that the stock went down 80 maybe if they jack up the prices or the content sucks but there's a complete disconnect between the user base and the asset holders it might be the investors or whatever in web3 that's not the case so if I'm a brand right now and I'm doing something cool and now I give them this asset even if I got given it for free if it's worth a hundred dollars tomorrow and then two days later it's worth seven dollars that Community is not a happy camper so I think that using web3 in a cool way by Brands is interesting throwing them these new little cool assets can really backfire because I always say like your community is good as your floor price so I do want to see more integration of cool things into that and it could be media channels it could be a lot of stuff but don't make it a non-financial asset it could be kudos for things it could be access Forbes is now starting to do stuff in the metaverse they want there's really cool things but just don't throw Financial Assets in situations where they're not needed if you ask me all right and regarding that uh this specific uh sorry uh the specific work you've been doing for some client like crypto client and non-crypto clients do we have some examples of direct uh cases you've been working on for companies coming from web 2 to web3 Let's we can say web 2.4.5 with non-financial products or directly for crypto clients how do you work with them and what what basically you can do in the web 2 web 2.5 and web3 ecosystem yeah so I'm not going to say that it's right for every brand um to enter into the space it isn't um but we have had great success with you know the large Brands out there like Gucci and Adidas and mugler more recently in the past week and what we have done for those guys let's take Gucci for for example um we helped launch them into web3 and that has been over the past 18 months that has been you know Collaborative Learning Journey that we've both been on together with an amazing Pioneer of the space and we launched the Gucci Vault Art Space which is a platform for Gucci which was their own Marketplace to sell nfts by artists that were kind of authorized and approved by Gucci so they basically created the first branded Marketplace for a collaborative collection of artist Creations which is huge that obviously there was many many months and over the years has been a collaborative process with them so it's not been something that that they initially went into expecting an immediate Revenue return and I think that's probably one of the biggest changes and shifts that we have seen in working with clients that are getting into this on a long-term roadmap this is not just a short-term quick fix for them so that is when I talk about you know entering in authentically through the culture that is something that I think they've been very successful in as one example um yeah so I'm going to focus on like web Three core because I got the stuff that we work with so um it's not very uh interesting or sexy but we just take really basic things out of web to marketing and implement it into web3 like you know SEO analysis and oh what's your features and what features do your custom do your competitors not have let's go after that let's say all right you're a wallet in a certain ecosystem and you're the only Mobile wallet and the other ones aren't Mobile Wallet let's go to producton let's go to create GitHub discussions let's understand that kind of thing so um I really really think that that type of stuff so let's see we've been working with binance for years and one of the main things that we started working with Finance in 2018 was solidifying the notion that they are the largest crypto Exchange in the world by volume now the way that we work with binance is that in front of the clients any article we would have gotten almost anywhere in the world that has binance comma the largest crypto Exchange in the world in the world our volume common then anything is a good start that's great because we solidify that narrative if it didn't have it even if it's in the New York Times they're even more pissed because why didn't we solidify the narrative there so I think that a lot of it is really going back to core understanding the two three main what's your main keyword who's your main competitors how are you better than features what do you want people to think about you in one sentence that's a very important crypto because there's not that many different use cases out there just yet don't tell anyone you know 100 different base layers that are all doing a different race of anything eth can do we can kind of do is just not a very good look so instead of like just doing the community and the pricing and the Shilling how about really communicating that kind of thing and I think Cosmos is doing a great job right now but oh there's this thing called an SDK model for dropability that's really cool let's check into that in a lot of different wallets or base layers or whatever just don't sit enough in thinking about why you should use me and not someone else by definition what will people search when they look for a problem so it's really kind of corticore basic stuff that we sometimes need to reverse engineer into crypto companies speaking about that um because I think that a lot of people building and starting to build some projects here what would be uh let's say not your best advice but the number one error the number one mistake not to do when you start doing marketing in crypto um so first of all I think it's about being consistent um I think that we have a lot of clients or people who come to us and say oh we don't want to chill we don't whatever we're going to talk to the Press only when we have really huge things to say now again I might be speaking in a position but it is my actual opinion um I think that sometimes at least the pr game or or comms has been more of like Moneyball you can't just go for home runs because first of all if you only go to the Press when you have something amazing first of all you might they might not want it or whatever and then you just missed your home run and you also didn't create a situation where these people know that you're legit there's so many companies out there and sometimes you just need the audience the the journalist or whatever to know that this is an actual live company and it works by trying again and again again yeah maybe four or five pitches won't go but at least the people know that these guys are doing and then this concept like oh when I have a mainnet uh I have test net and I have funding then I'll I'll go to press or whatever other than that I don't talk to them I think that's a pretty bad idea and again I speak from position and the other that I'm kind of seeing pretty big right now is just like you know we're not funded enough it's a bear Market we're trying to see what's our you know Runway and we're going to go into the cave and wait for the winter to to pass and first of all I don't think that that's what startups are about like I don't think that a startups kpi or job is to survive and the second thing is that the way that this people's Cycles go is that you might walk into this cave for six months come out with not that much ammunition left and people have completely forgotten about you or or it's irrelevant to whatever so I really think that you it's from the moment you leave South you're in Market to Market um and it's about repetition and you can't stop doing it you can maybe do less or do more but quiet periods for direct to Consumer Brands and yes if you have an nft or a token you're a direct-to-consumer brand if you like it or not um then I think that that is is is is and the second thing is thinking that Twitter is everything uh very people think like oh yeah just look at Twitter and we're doing a lot of cool stuff on Twitter yeah but that not all the world lives on Twitter so those are my two uh uh pieces of advice okay yeah I think from my side um I think we're over the period of Builders just building in silence and in isolation and not ongoing communication of that consistency that we talked about here because if what you're looking for is track record credibility team consistency um a you know a potential um you know Market that is is growing and you know I think um if you go silent that becomes kind of thud and people are a bit like are these guys still around you know so I think silence is probably the worst thing that you can be doing if you have a project so I think you need um your your marketing team needs to be like there in from day one to be helping understand crafting the message but also communicating ongoing beats you know we see in Discord and on Twitter spaces people have like weekly monthly Cadence check-ins externally so people know that you're building and developing and so they can kind of go along that Journey with you there's a handicap right now in the web 3 marketing spacers I think is an opportunity so a lot of web 2 especially B2B SAS or even director consumer just to rely 100 on paid advertising pay-per-click now again no disrespect is very important maybe more important than marketing but it's advertising it's not marketing I don't have to convince anyone it's me against the platform now in crypto it's not exactly that possible media doesn't like it there's cooking is a problem the cookies is not we're not cooking um that's actually a pretty cool opportunity to actually need to talk to people create a community whatever so where a lot of the web 2 businesses just buy traffic by bulk and optimize and whatever we don't yet have that uh Community grow stuff yeah exactly so it's actually also a pretty big opportunity I think right we're running a bit of out of time but just in one two sentences whatever you the biggest Innovation that's gonna come in the next year uh in web 3 media maybe with AI or different stuff so we didn't I think talk about media enough more but I think it was interesting but um I personally think um that um influencers are going to die a bit and I really want that to happen I think that like it's just it's it's we're done with that I think we have to stop uh whatever and I think that also crypto media itself really took a big hit so I think that what we're going to be seeing is uh new formats of people creating Dao like non-for-profit I want to see a Dao media channel a News website I want to see a new business model inside crypto news that's going to be community centers Civic there was a a few years ago but I think that it's time now what we saw with the blog what we see now with dcg and coindesk um we need to create truly independent Sovereign media and I think that it's which is the purpose also of web tree I hope I've got two things one I think there's going to be tokenized media companies so you're going to have subscriptions but that will be tokens for your access so it won't be your email but it might be your wallet and then second obviously AI is getting into everything right now so we're going to see a lot of the the big Tech integrating AI we're seeing that with Bing already right now so those are probably my two hot areas for the next 12 18 months thank you yes to both of you thank you to everyone thank you very much