What do a DAO, NFT, and ETH all have in common with the media industry? Other than a love for confusing acronyms, media and decentralized web tools and concepts are increasingly being discussed among marketers during conference calls. That’s partly because panic and worry are setting in with brands, concerned by being left behind. Many believe that the internet is evolving from the digital, centrally owned platforms we know today into a more democratic world in which consumers retain self-sovereign identity and share in value creation in the so-called decentralized web. (And we all thought a ”cookieless” future was going to be a shift!)
Brands are looking to educate themselves so they can make informed decisions in testing and road mapping the future of crypto currency (such as ETH = Ethereum) and NFTs (non-fungible tokens). They want to know how Web3 technologies could change their organizational structures, workforces, or even future loyalty programs via DAOs (decentralized autonomous organizations). They’re looking for guidance and education to key in on what’s possible—and when the time might be right to test the water.
Today, dentsu is announcing our partnership with Decrypt, a news and information site dedicated to demystifying the decentralized web.
The partnership will provide valuable, no-nonsense education and industry updates to our global and local teams about what’s possible—and where we’re at in the adoption and use of Web3 tools and technologies. The partnership was put together by the newly formed dentsu W3 Committee, with the objective of bolstering our team’s passion, while testing new ideas and approaches in this rapidly developing space.
- dentsu clients and employees will have access to the latest thinking and audience research from Decrypt to build the most effective client solutions.
- dentsu clients and teams can innovate, test ideas, experiment with hypotheses and learn about evolving technologies and platforms via Decrypt’s media properties and Decrypt Studios production service offerings.
- dentsu will be the first agency partner to pilot an executive eLearning program, providing global Web3 training for people working across the dentsu organization in media, creative, and CXM, as well as training opportunities for clients. The program will also include exclusive access to training and support for NFT and Metaverse strategy and execution.
Web3 may feel a bit far off, and in many cases that is true. The advertising industry loves a hype cycle—indeed, the “year of the mobile” seemed to span a decade. However, as an industry, it can take us a while to dip our toes in the water and get comfortable with being uncomfortable. Prepping ourselves for active and open conversations about Web3 will be beneficial in driving value, trust, innovation, and utility to the millions of consumers with whom we’re hoping to connect. Even if it’s a small percentage today, it may be most people over the next decade. How we think Web3 will affect our businesses today, vs. where we will end up, will look different. However, partnering with informed journalists, educators, and research from partners like Decrypt will make those conversations less scary.
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