Web3: Revolutionizing Traditional Marketing Through Meaningful Engagement
Traditional marketing has long struggled with a conversion problem, but Web3 technology holds the key to fixing it. The limitations of Web2-style digital marketing stem from the lack of meaningful two-way interaction with users. Despite the vast opportunities for interaction provided by social media, traditional marketing efforts often treat users as mere recipients of communication, earning them the name “end users.”
The consequences of this ineffective targeting are staggering. More than 95% of digital marketing efforts result in no conversion, wasting nearly $240 billion on inefficient ads. For an industry projected to surpass $689 billion by 2028, this is a significant amount of money going down the drain.
To overcome this lack of conversion, transparency, traceability, and superior analytics are needed. These features align perfectly with blockchain technology, making marketing a prominent trend within the Web3 space.
Decentralized finance (DeFi) has made it easier than ever to issue new digital assets, leading to the widespread adoption of creating tokens for Web3 projects. These tokens have become essential for building a two-way interaction bridge with the community, giving rise to a concept known as MarketingFi. Airdrops and social farming, terms that have quickly become part of the Web3 users’ lexicon, play a crucial role in this ecosystem.
Web3 startups have embraced airdrops as an effective way to attract new users and potential investors. Social farming, also known as bounty airdrops, takes this concept further by incorporating unique tasks and gamification elements. These tasks can include connecting social network accounts or performing specific actions on platforms like X (formerly Twitter), Discord, or Telegram.
By leveraging Web3 wallets for signups, MarketingFi has made strides in solving the issue of ineffective targeting in digital marketing. Though it currently represents a small portion of the overall digital marketing market with a modest $1.3 billion market size in 2022, MarketingFi is expected to reach $45 billion in ten years, boasting a compound annual growth rate of 46%.
Web3-based projects have found innovative ways to utilize airdrops and social farming to boost community engagement. By initiating token airdrops for activities like tweets, retweets, quotes, replies, and likes on posts mentioning their tokens, projects like BlockGames (BLOCK) and Portal Coin (PORTAL) have successfully kept their communities engaged. As a result, the value of the PORTAL token surged to 68 times its initial value, while Block Games gained almost a million followers on X, demonstrating the effectiveness of the social farming model.
However, the rising popularity of Web3 airdrops has also attracted bad actors. Farm accounts and bot-powered Sybil attacks continue to undermine the efficiency of Web3 marketing campaigns. These malicious actors exploit the system through minimal engagement or automated bots, diluting the value intended for genuine community members and stifling project growth.
To address this challenge, AI-powered analytics are emerging as a game changer for Web3 marketing. By combining AI with Web3 data and wallet analytics, it becomes possible to prevent bots and token farmers with no genuine interest in the project from affecting airdrop campaigns. Cookie3, an AI data layer designed for the MarketingFi space, is one such project utilizing AI-powered analytics to incentivize genuine community interaction.
Cookie3 is a strategic partner of Cookie DAO, a collective of MarketingFi enthusiasts dedicated to promoting decentralization through innovative blockchain solutions. The COOKIE3 token, issued by Cookie DAO, serves as the utility token within the AI-powered MarketingFi ecosystem built by Cookie3. The ecosystem aims to create a transparent marketing economy by incorporating an AI data layer into MarketingFi campaigns, unlocking value for users, creators, and businesses within the Web3 ecosystem.
Taking inspiration from the success of recent Web3 campaigns, Cookie3 aims to become a cornerstone in the evolution of MarketingFi. It combines elements of social farming, referrals, key opinion leader (KOL) engagement, analytics, and AI data layer to promote the airdrop for Cookie DAO and the upcoming COOKIE token. The COOKIE token airdrop, conducted by Cookie DAO, leverages Cookie3’s MarketingFi Score, a comprehensive scoring system that assesses user behavior both on and off-chain to determine user value. This system effectively filters out bots and malicious actors, enabling projects to reward quality users with access to airdrops, specialized campaigns, and exclusive events.
By building a streamlined social farming ecosystem, Cookie3 and Cookie DAO have achieved remarkable success. The COOKIE token airdrop campaign attracted over 100,000 participants in less than a week. Filip Wielanier, CEO and co-founder of Cookie3, emphasized that the airdrop utilizes Cookie3 analytics and AI technology to create a viral marketing phenomenon. The ultimate goal is to establish a new standard for airdrops and social farming, focusing on cultivating a community where every interaction counts.
Web3 technology enhances user engagement by leveraging blockchain’s transparency and traceability, revolutionizing the way community interactions are valued. By using AI to score both on- and off-chain actions, rewards can be effectively directed towards genuinely engaged users. This shift prioritizes meaningful engagement over mere participation and promises a future where active, value-creating community members are at the forefront of the digital landscape.
Please note that some functionalities of Cookie3 are still under development and not yet live.
Disclaimer: This article is for informational purposes only and does not imply a contractual relationship. The authors are not brokers, intermediaries, agents, or legal advisors, and readers should consult their independent financial, legal, or tax professionals before making any decisions. The prices of blockchain assets are highly volatile, and fluctuations can adversely affect the value of the COOKIE token in the future. This article should not be considered as investment advice.