I have been watching Web3 & Enterprises for a while now, while I believe in this future, I think many brands and start ups in the space are focused on the wrong things.

1 - Web3 isn't just about NFT's. Yes, those are a thing for some brands but not most. Most brands Web3 ideas are driven by the past NFT Bull Run. They see NFT's as a revenue source, not a way to solve a problem. They don't understand the tech or ethos, they just see $$$$$.

Before jumping in, dive deep and understand the tech and ethos. There is much more than NFT's.

2 - Web3 doesn't mean Blockchain. Web3 is an ethos of ownership, decentralization, and interoperability.  Sometimes that requires the blockchain, other times it doesn't. Blockchain isn't required for everything in Web3.

Understand the double spend problem. If you don't have it, you don't need blockchain. That doesn't mean you don't need Web3.

3 - Brands don't have Web3 problems. Brands have existing problems they need to solve, not "Web3 Problems". If your tech doesn't solve an existing problem it's not going to make it.

No consumer is asking for Web3. They are asking for more ways to purchase, better control of their digital lives, and better experiences.

4 - Web3 is still a test for 95% of brands. While we all see headlines about mega brands and Web3, but what you aren't hearing is how those are all tests. There is no playbook yet, and everyone is testing.

Don't get confused with the headlines. Everyone is still testing, don't FOMO in.

5 - Web3 Loyalty isn't what you think it is. You shouldn't simply create a tokenized loyalty program. Most consumers don't want tokens, there is more friction created by adding a wallet, and 90% of your customers will use a custodial wallet eliminating the idea of interoperability and utility past your walls.

Loyalty is created by how you treat people, and the value you create, not the tech you use. If you can't create loyalty with existing tech, Web3 won't solve that for you.

6 - Most Web3 Activations are marketing ploys. I diagramed over 275 brands entering Web3. The large majority were executed by marketing agencies, and done as one-off marketing campaigns.

This is a tech revolution, not a media revolution.

7 - Not all consumers want a community. Most of your customers don't want or need a community, or want to do work for you.

If you can't create a community with existing tech Web3 won't solve that either.

Keep in mind...

Web3 isn't sexy. It's nerdy. It works best when it fades into the background and consumers simply get greater value from the experience. "Value" also doesn't mean financial value. Most consumers engage for other reasons. Don't lose sight of that.