Want to master the art of thriving in the Web3 space? This episode is packed with insights that will help you navigate and succeed in this evolving landscape. We have an amazing discussion with Kevin Riedl, a Web3 software agency expert, on the intricate shift from buying random coins to delivering genuine value.
We dive deep into the growing trend of utility and business in NFTs, share the most effective strategies for gaining market share, and highlight the best examples of NFT utilities.
Did you ever imagine a world where digital identity, Non-Fungible Tokens (NFTs), and Metaverse would be game-changers? Well, this episode demystifies these concepts, their impact, and how they are shaping the future of marketing. We discuss the potential of the Metaverse and AI, and how you can use MetaFers to create unforgettable events and experiences. Plus, we explore the potential of augmented reality in fostering connections, the brands making a splash in the social metaverse, and we reflect on the excitement and fear that these advancements bring. This is a must-listen episode if you want to understand how Web3 can elevate your business, the importance of digital identity, and how to approach NFTs and Metaverse from a regulatory standpoint. Join us!
Unraveling the Web3 World: Insights from Joeri Billast and Kevin Riedl
Web3 has been making waves in recent years, transforming how businesses operate. But what does this mean for you?
In this article, we delve into the world of Web3 with insights from two experts - Joeri Billast and Kevin Riedl. They discuss everything from the evolution of Web3 to its impact on businesses, NFTs' potential for SMEs and larger corporations, technical challenges in Web3 development, marketing opportunities in the Metaverse, and much more.
The shift towards a more business-oriented approach in Web3 is reshaping industries as we know them. It's not just about buying coins or jumping onto trends anymore; it's about creating tangible value that outperforms traditional offerings.
We'll answer all your burning questions about these topics and provide valuable insights into navigating this new digital frontier successfully.
Introduction to Web3 and the Hosts
In recent years, Web3 has undergone significant development and transformation. Companies are now required to build sustainable businesses in this space, marking a shift from the initial hype-driven phase. In this episode of the Web3 CMO Stories podcast, Joeri Billast and Kevin Riedl discuss various interesting topics related to Web3. Joeri, with a background in marketing, focuses on helping companies in Web3 with their marketing strategies. On the other hand, Kevin, with his technical expertise, runs a Web3 software agency in Austria. Together, they provide valuable insights into the evolution of Web3 and its impact on businesses.
The Evolution of Web3
Over the years, Web3 has matured significantly. Initially driven by hype and speculative investments, the focus has now shifted towards building practical and useful applications. From a regulatory standpoint, companies operating in the Web3 space are now required to navigate complex licensing requirements and generate sustainable cash flow. This shift has forced startups to develop products and services that offer tangible value to users.
Companies and individuals are no longer solely interested in buying random coins or jumping onto specific trends without considering their long-term viability. Instead, they are looking for solutions that provide more value than traditional Web2 offerings. This maturation of the Web3 space has led to a more discerning approach from both investors and consumers.
Introduction of Joeri Billast
Joeri Billast is a marketing expert who has been actively involved in various technological advancements throughout his career. He previously owned an IT company and a business analytics company before transitioning into marketing. With his deep understanding of emerging technologies, Joeri is passionate about helping companies succeed in the Web3 space. He assists companies already operating in Web3 with their marketing strategies and also guides Web2 businesses looking to transition into the Web3 realm.
Joeri's expertise extends beyond marketing. He hosts a podcast, similar to Kevin, where he shares his insights and knowledge about Web3. Additionally, he runs a Mastermind group, providing a platform for like-minded individuals to collaborate and learn from each other.
Introduction of Kevin Riedl
Kevin Riedl is a technical expert in the Web3 space. He is the co-host of the Web3 CMO Stories podcast and runs a Web3 software agency based in Austria. Kevin's agency primarily works with companies from the US, UK, Switzerland, and Dubai, assisting them with various aspects of Web3 development, including smart contracts, NFTs, and blockchain architecture.
With his extensive experience in the technical side of Web3, Kevin provides valuable insights into the challenges and opportunities that arise when building businesses in this space. His agency caters to a wide range of clients, from startups to large corporations, helping them navigate the complexities of Web3 technology.
The Hosts' Journey in the Web3 Space
Joeri Billast and Kevin Riedl have both been actively involved in the Web3 space for several years. They first met at a conference in Germany focused on Web3 vision and quickly realized their shared passion for this emerging field.
Joeri's journey into Web3 began with his interest in staying ahead of technological advancements. Throughout his career, he has embraced various technological shifts such as big data, data warehousing, business intelligence, and social media marketing. With the advent of Web3, Joeri saw an opportunity to bring together all these elements and help companies thrive in this new era.
Kevin, on the other hand, has a technical background and has been working with Web3 technologies for a longer period. His agency specializes in providing technical solutions to companies operating in the Web3 space. From smart contracts to blockchain architecture, Kevin's expertise enables him to guide companies of all sizes through the complexities of Web3 development.
Together, Joeri and Kevin bring a unique blend of marketing and technical expertise to the Web3 CMO Stories podcast, offering valuable insights into the evolving landscape of Web3 and its impact on businesses.
The Evolution and Maturation of Web3
Web3 has undergone significant evolution and maturation in recent years. The initial hype-driven phase has given way to a more business-oriented approach. Companies operating in the Web3 space are now required to build sustainable businesses, moving beyond speculative investments.
One of the key developments in Web3 is the emphasis on utility. Unlike the early days when people were solely focused on buying random coins or jumping onto trends, there is now a greater demand for products and services that offer tangible value. This shift has led to a more discerning approach from both investors and consumers.
The Importance of Utility in Web3 Products and Services
In the realm of NFTs, utility has become a crucial factor. It is no longer enough for an NFT to simply provide access to a community or have a basic form of art. Instead, NFTs need to offer real value and utility to their holders. For example, loyalty programs have emerged as one of the most effective utilities for NFTs. By offering rewards and benefits to loyal customers, companies can incentivize customer retention and foster stronger relationships.
Another popular utility for NFTs is access to exclusive events or memberships. This allows NFT holders to enjoy unique experiences or gain entry into restricted communities. By providing these exclusive opportunities, companies can create a sense of exclusivity and enhance the value of their NFTs.
The Potential of NFTs for SMEs and Larger Corporations
NFTs are not just limited to larger corporations; they also hold potential for small and medium-sized enterprises (SMEs). While SMEs may not have the resources to develop custom software solutions or smart contracts, they can still leverage existing platforms and tools to incorporate NFTs into their marketing strategies.
For example, platforms like Uncut provide an easy way for SMEs to mint and distribute NFTs. This allows them to offer unique rewards or access to their customers without the need for extensive technical expertise. By utilizing these platforms, SMEs can tap into the benefits of NFTs and enhance customer engagement.
However, it is important to note that custom software development and smart contracts may still be relevant for larger corporations with unique requirements. These companies often have the resources to invest in tailored solutions that align with their specific business needs.
The Technical Challenges and Opportunities in Web3
While Web3 presents numerous opportunities, it also comes with its fair share of technical challenges. One of the main challenges is the need for user-friendly solutions that make it easier for individuals to navigate the Web3 landscape. Many people find the concept of wallets and blockchain technology complex and intimidating. Therefore, there is a growing demand for platforms and tools that simplify the user experience and make Web3 more accessible to a wider audience.
On the other hand, custom software development in Web3 can be costly and complex. Developing smart contracts and ensuring their security requires specialized knowledge and expertise. Security audits alone can add significant expenses to a project. This makes custom solutions less feasible for small companies with limited resources.
However, there is a silver lining in the form of template solutions. Just as website templates revolutionized web development in Web2, similar solutions are emerging in Web3. These templates allow businesses to quickly deploy projects without the need for extensive technical skills or resources. While these solutions may not offer the same level of customization as custom software development, they provide a practical entry point for SMEs looking to leverage Web3 technologies.
The Potential of Web3 Marketing Solutions and the Metaverse
Web3 marketing solutions offer exciting possibilities for businesses looking to engage with their audience in new and innovative ways. One such solution is the use of NFTs in marketing campaigns. NFTs can be used to reward customer loyalty or grant access to exclusive events or content. For example, a fitness club could issue NFTs as digital membership cards, providing customers with unique benefits and experiences.
In addition to NFTs, the Metaverse presents another intriguing opportunity for marketers. The Metaverse is a virtual world where people can interact with each other and their environment. It offers a range of possibilities for marketing events, such as virtual conferences or product launches. The ability to translate conversations in real-time can also facilitate global collaboration and communication.
While the Metaverse originated from the gaming industry, its potential extends far beyond entertainment. Industries like medicine and industrial IoT can benefit from simulations and virtual environments. From a marketing perspective, the Metaverse provides a unique platform to engage with customers in immersive and interactive ways.
The Role of Brands and Fashion in the Metaverse
In the Metaverse, brands play a significant role in shaping the virtual landscape. While some may assume that there is no advertising or branding in the Metaverse, this is not entirely true. Brands like Nike have established their presence in the virtual world, creating spaces like the Nike World or the Nike Room. These branded spaces offer unique experiences and opportunities for users to engage with the brand.
Furthermore, fashion is one aspect of the Metaverse that has seen significant evolution. Just as teenagers buy skins for their avatars in gaming worlds, people can now purchase digital clothes for their virtual selves in the Metaverse. This trend reflects the desire to look good and express one's identity even in the virtual realm. For example, during events like Fashion Week in the Metaverse, users can explore and purchase digital clothing items to enhance their avatar's appearance.
It's important to note that the concept of the Metaverse extends beyond gaming worlds. Platforms like Microsoft Teams are incorporating avatars into their meetings through features like Microsoft Mesh. This integration allows users to have a virtual presence during team meetings, fostering a sense of connection and collaboration. Additionally, companies like Apple are investing in VR glasses, while Meta (formerly Facebook) continues to develop new technologies for the Metaverse. These advancements indicate that virtual worlds and avatars are becoming increasingly integrated into various platforms and devices.
The Future of Augmented Reality and Personalization in the Metaverse
As the Metaverse continues to evolve, there are several exciting possibilities on the horizon. One such possibility is the ability to scan oneself into virtual worlds. This technology, currently being explored by companies like Meta, allows individuals to create high-quality digital representations of themselves and immerse themselves in the virtual realm. By scanning their physical features and movements, users can create avatars that closely resemble their real-life counterparts.
This advancement in augmented reality has the potential to revolutionize personal connections in the Metaverse. As people become more isolated in their physical lives, the ability to interact with others in a virtual space that feels incredibly real can bring individuals closer together. Imagine sitting next to someone who is physically far away but feels as if they are right beside you. This level of immersion and connection has both exciting and scary implications for the future of social interactions.
While it is difficult to predict exactly when the Metaverse will become mainstream, there is a growing appetite for this technology. Just as an event or breakthrough can suddenly propel a concept into the spotlight, the same could happen with the Metaverse. Already, we have seen how AI has gained widespread attention with advancements like Chat GPT. Once a niche topic, AI is now a part of everyday life for many people, whether they realize it or not.
The Influence of AI and Chat GPT in the Metaverse
AI plays a significant role in shaping the Metaverse experience. Many individuals, including Kevin and myself, rely on AI technologies like Chat GPT in our daily lives. For developers like Kevin, AI tools such as image generators and coding assistance are invaluable resources that enhance productivity and efficiency.
As a marketer, I also heavily rely on AI in my work. From generating images for social media posts to creating show notes and articles for my podcast, AI has become a game changer. It allows me to automate tasks and streamline processes, ultimately saving time and improving the quality of my work. However, it is important to note that not everyone is fully utilizing AI in their daily lives. The adoption of AI technologies varies depending on the individual's industry, interests, and exposure to these tools.
As the Metaverse continues to develop, AI will likely play an even more significant role in shaping the virtual landscape. From intelligent virtual assistants to personalized recommendations, AI has the potential to enhance the user experience and create more immersive and tailored interactions within the Metaverse.
Connecting with Kevin and Joeri
If you would like to connect with Kevin or myself, there are several ways to reach out to us. Kevin can be found on LinkedIn, where he is active and publishes insightful posts. His podcast, Web3 CMO Stories, provides valuable insights into the world of marketing in the Metaverse. Additionally, Kevin's company has a website with contact information and a presence on various social media platforms.
As for myself, you can also find me on LinkedIn, where I share my thoughts and engage with the community. My podcast, Web3 Net, explores topics related to Web3 and features interviews with industry experts. I also have a personal blog called Web3.net, which offers additional content and resources.
We both encourage you to follow us on social media and stay updated on our latest podcast episodes and insights. We look forward to connecting with you in the Metaverse!
The Use of AI in Daily Life and Work
AI has become an integral part of our daily lives, impacting various aspects of our personal and professional routines. Technologies like Chat GPT and image generators have made AI accessible and useful for individuals from different backgrounds.
For many people, AI has become a valuable tool in their daily lives. Chat GPT, for example, is widely used for communication and information retrieval. Whether it's answering questions, providing recommendations, or engaging in conversation, Chat GPT has become a go-to resource for many individuals. It has become so ingrained in our lives that we often don't even realize we are interacting with an AI-powered system.
In addition to its use in everyday life, AI also plays a significant role in coding and development. Developers like Kevin rely on AI tools such as image generators and coding assistance to streamline their work processes. These tools help automate repetitive tasks, improve productivity, and enhance the overall development experience. By leveraging AI technologies, developers can focus on more complex problem-solving and innovation.
AI has also made a significant impact on the field of marketing. Marketers like myself utilize AI-powered tools to generate images, create content, and automate various marketing tasks. For instance, generating images with AI algorithms allows marketers to quickly create visually appealing content without the need for extensive design skills or resources. This not only saves time but also enables marketers to experiment with different visuals and iterate on their campaigns more efficiently.
Furthermore, AI has the potential to be a game changer for companies across industries. By harnessing the power of AI, businesses can gain valuable insights from data analytics, personalize customer experiences, automate processes, and make more informed decisions. The integration of AI into various business functions can lead to increased efficiency, cost savings, and improved customer satisfaction.
Wrapping Up
As we conclude this comprehensive exploration of Web3, the Metaverse, and AI's role in our daily lives, let's revisit some key takeaways.
The evolution of Web3 has shifted from hype-driven investments to a focus on building sustainable businesses that offer tangible value. This maturation is reflected in the increasing demand for practical applications over speculative trends.
NFTs are emerging as powerful tools for marketing strategies, offering unique rewards or access to customers. The Metaverse also presents exciting opportunities for immersive customer engagement and innovative marketing events.
AI technologies like Chat GPT have become integral parts of our daily lives and work routines. They enhance productivity by automating tasks and streamlining processes across various industries including coding, development, and marketing.
With these advancements come new challenges - how can we ensure user-friendly solutions that make complex concepts like wallets and blockchain technology accessible? How will augmented reality revolutionize personal connections in the Metaverse? And what does it mean when virtual worlds feel incredibly real?
We'll continue exploring these questions until next time!
Kevin Riedl
KEY HIGHLIGHTS
[02:39] Joeri to Kevin: "Kevin, how have you seen things evolve in the Web3 space over the last few years, considering you've been in the space longer than I have?"
[06:04] Kevin to Joeri: "Are there any trending utilities that you would say are working better now compared to the past in the Web3 space? What strategies are projects employing to gain market share? What's
[06:55] Joeri to Kevin: "Do you believe we will see an increase in loyalty programs in the Web3 space?"
[07:10] Kevin to Joeri: "I'm curious about your perspective from a marketing standpoint. Do you think loyalty programs are something primarily for large corporations, or do you see potential for SMEs as well?"
[08:16] Joeri to Kevin: "What's your vision on this topic? From the technical side, do you think Web3 is ready for broader adoption, or do things need to become more user-friendly to attract more people to Web3?"
[13:16] Kevin to Joeri: "Can you easily assemble Web3 marketing solutions, or how does it work in general? Are there similar solutions in your segment as well?"
[21:17] Joeri to Kevin: "Many people are talking about AI, and with ChatGPT, it's become a hot topic. Are you actively using AI in your daily life, Kevin?"
NOTABLE QUOTES
" The main difference or the main development that we have seen in Web3 is that companies now actually need to build businesses. "- Kevin Riedl
" You don't build a business on a hype, so what after the hype, and so there we are now. " - Joeri Billast
"But once you need custom software development or custom smart contract, things get really expensive really fast, especially because you need a security audit, someone looking at your code." - Kevin Riedl
" I see this also happening for smaller businesses, but of course, it's like every time there's a new technology, they're not the first using it, like in the beginning. " - Joeri Billast
"Luckily there are a lot of solutions out there that you could use, from third web to all these tools that allow you to develop or deploy projects without a blockchain engineer or just a small fraction of that time." - Kevin Riedl
