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Forj Alpha Report: State of Web3 Adoption Report

Validated Media

by Harry Liu

A detailed look at the acceleration of Web3 adoption, despite all of the FUD you may be hearing.

We will go over

  • Web2 Brand's Revenue Ranking in '22
  • Utility Models
  • Audience Demographics
  • Lessons from Nike's Web3 Journey
  • Lessons from Reddit's Web3 Journey
  • Validated Go-to-Market Strategies
  • Vertical Case Studies
  • Five Trends
  • Challenges & Opportunities

Consumer Blockchain Breakdown

There are a number of key components that have helped build the foundation of the “Consumer Blockchain”.

#Crypto, #NFTs, #defi & the #metaverse, are paving the way for a digital renaissance that will impact art, music, gaming, fashion, sports, & your very own I.D. online!

However, consumer, Web2 brands are currently leading the way, both in terms of popularity and revenue, including:

@Nike with @RTFKT @DolceGabbana @TiffanyAndCo @Gucci @Adidas @Budweiser @TIME @Budlight @AustralianOpen @LACOSTE and more!

Key takeaway from RTFKT’s partnerships with Nike

The pyramid of target audiences

The pyramid of target audiences is a useful tool for web3 brands to prioritize their resources and efforts when it comes to reaching and engaging with different groups of people.

The Success of Reddits Web3 Adoption

There are more NFT owners on Reddit than OpenSea now!

How did Reddit onboard millions of users?

So how did @Reddit onboard millions of users?

[1] Airdrop

There are at least 4 other collections which were airdropped to top users of specific subreddits. For example, Drip Squad - these have hundreds of thousands of holders, with traits seemingly evenly distributed.

[2] Rich utilities:

6 utilities right out of the gate. Recognition of utilities from Web3 audience accelerate adoption.

[3] World-class partnerships:

  • Netflix series partnerships, AAA game partnerships, @AFL and artists collaboration .
  • Getting Subreddit community support.

Key takeaway from Polygon x Reddit’s Success

1️. Seamless Onboarding Experience

2️ . Lower Price Point - Price the collectible at $1-10, lower barrier for entry.

3️. Large audience base - 430 million monthly active users.

Challenges that lie ahead:

• Low audience Web3 literacy

• Saturation of #P2E, not for fun

• Lack of content on Web3 and the Metaverse

• Bear market conditions

• Teams downsizing

But where there are challenges, there are also opportunities!

• Develop a top-down, bottom-up Web3 strategy

• Learn from the best projects

• Focus internally on Web3 education

• Lock-in strong technology partners

• Co-develop with the community to end zero-sum

Although the crypto & NFT industries have been rocky over the past few months, you wouldn't know it by digging deeper into what companies are doing, rather than saying!

There are still hurtles to overcome in the next few years, but it's never been more exciting!

Thank you for reading and we hope that you were able to takeaway at least a few optimistic points! If you haven't already, subscribe through the following link to receive Forj's Alpha Reports directly to your inbox!

📝 FULL REPORT LINK: http://tiny.cc/DocWeb3Adoption

💬 BINANCE LIVE LINK: https://www.binance.com/en/live/video?roomId=2113792

Web3 Crypto NFT Metaverse
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