**Web3 Projects: Success Hinges on Commitment, Says Qiibee CEO**

In a recent interview with Cointelegraph, Qiibee founder and CEO Gabriele Giancola shared insights on why some legacy Web2 brands struggle with Web3 projects. Giancola believes that brands failing in Web3 often lack sufficient time, investment, and commitment. He argues that these brands merely "dipped their toes" instead of fully diving into the technology.

A paper by Polygon Labs, Google Cloud, and Accenture supports this, highlighting Web3's potential to enhance loyalty programs. However, some projects, like Trip.com's NFT initiative, have been shut down, facing community backlash.

Giancola emphasized the need for education in the space, noting that many still equate blockchain solely with Bitcoin. He pointed out that brands like Lufthansa have significantly reduced costs and increased market share through Web3.

Ultimately, Giancola sees Web3 as a dual opportunity for cost efficiency and capturing new purchasing power, urging brands to fully commit to realize these benefits.