GeckoCon Recap: Why Brands Need To Embrace Web3
With the increasing adoption of web3 globally, Ben Fairbank, Co-founder & CEO at metaverse builder RFOX, one of the speakers of a panel discussion “Why Brands Need To Embrace Web3” during the first day of GeckoCon – The Decentralized Future shared that a lot of big brands and even individual creators expressed their desire to adopt the innovations brought by Web3.
The panel also had the participation of other leaders and builders in the metaverse such as Sébastien Borget, Co-founder and COO of virtual metaverse The Sandbox, and Irene Zhao, Co-founder at community-centric platform SO-COL. The discussion was moderated by Marissa Trew, Senior Content Lead at Blokhaus Inc. and the host of TezTalks Radio.
In the beginning of the talk, Fairbank disclosed that with the growing popularity of web3 there are a lot of big brands that have contacted them regarding the technology.
“There are a lot of brands talking to us and saying; we have a brand to protect, we are going into a new realm, the stigmas associated with blockchain and crypto, how do we make sure that our brands are looked after and the integrity is kept with the experiments with the technology?” Fairbrank disclosed.
He explained that this is the reason why there are a lot of collaborations as it is where the people are able to test the waters. He also advises that the brands must always think and note the way that they can be a platform that introduces the creators and brand to the customers and how they can create the tools to allow the customers to create their own experience and entry points.
“And of course, when you’re developing that technology you also try to run a pivot and a piece so we have to quickly get the tools in place to allow these people to smoothly transition. But what we were saying especially for the last 3-4 months is we were in a move towards creators becoming brands. People would understand the technology, people will be more flexible and they can be a bit more experimental,” Fairbank stated.
Further, he noted that the brands that will be launched in the metaverse and web3 space are moving much quicker and they are excellent in community building. He also added that they have the opportunity to integrate some “web 2 spices”.
“I think it’s a relatively exciting period, like an arm wrestle, and like what you said before, we really don’t know where it’s going to go. But in this particular period in time, I think that allowing the people to platform in the opportunity to introduce the world to their brand and concepts. And allowing the people to own and earn from doing so is definitely the key. The quickly we have these tools into people’s hands, the quicker we find out how this goes.” he explained.
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