A detailed article on Web3 use cases

23 Feb 2023

Web3 has the power to revolutionize the way brands and customers connect with each other. Many brands are already experimenting with using NFTs and metaverses to increase brand awareness and consumer loyalty in a way that traditional social media and e-commerce channels simply cannot.

Brands like NIKE and Vodafone were the first to recognize the value of NFTs, while luxury brands such as Gucci, Balmain, Prada, and Balenciaga have launched their own NFTs.

"How do you integrate business with Web3?" This is a question we are often asked by traditional organizations.

Talent and Human Resources

Motivate and coordinate a global pool of on-demand talent

There are two key factors for traditional organizations/enterprises wanting to support Web3: ownership and decentralization.

The emergence of organization-native tokens that can be traded with other cryptocurrencies, fiat currencies, makes it easier for organizations to motivate and pay talent from all over the world for one-time, short-term and long-term tasks.

As organizations become more distributed than ever, leveraging a global talent pool can help organizations source the right talent at the right time, keep their cost base low and optimize output.

Encourage staff

Tokens can be used not only to pay employees, but also to incentivize long-term work. The longer a person works in an organization, or the more work is done, the more tokens can be unlocked.

In addition, many Web3 tokens can be staked (staking) - that is, locked on the blockchain to provide liquidity - and pledgers can earn staking rewards (kind of like interest on fixed deposits).

Operations and Technology

Governance and decision making

When organization tokens are used in conjunction with voting tools like Snapshot, tokens can be used to vote on important decisions. This way, voting is truly secure, transparent, and the results immutable. You can also write rules for how many people voted, what type of voters they voted for, and when polls close.

Opening up your core team, customers, partners, and community to the ability to influence decisions can be an important selling point for them to agree to work with you or use your product.

Remote work and team cohesion

Some analyst predict that in the future we will spend more of our work time in virtual worlds, connecting with colleagues across the globe in virtual worlds on metaverse platforms like The Sandbox.

Whether that happens or not, the Metaverse will at least be a welcome way to work remotely.

Finance and investment

Money management

Tools like Llama provide financial management services for decentralized organizations.

what does that mean? Well, Web3 organizations often raise millions of dollars in funding, and managing those funds comes with a lot of responsibility. Fund management involves determining budget allocations, asset diversification strategies, lending strategies, and internal and external governance.

To raise funds

Many brands, especially independent creators, are realizing the powerful financing utility of Web3. Whether issuing social tokens or NFTs, brands can raise millions of dollars overnight to fund ideas, products, communities, and philanthropic initiatives.

NFTs can be used to raise funds and build stronger communities with customers, fans.

Consortium creation and management

Raise funds and manage the distribution of funds in a safe, fair and transparent manner, which can be useful for brand partnerships, joint investments in on-chain and off-chain assets (or crypto and non-crypto startups), and joint ventures.

Investment and asset diversification

A) Buy, hold and trade cryptocurrencies, NFTs

It’s no secret that the crypto market is volatile — at least for now.

Despite its ebbs and flows, cryptocurrencies, like the broader financial markets, appear to be on the rise over time and can be a convenient investment or part of an organization's diversification strategy. NOTE: THIS IS NOT FINANCIAL ADVICE

B) Pledge cryptocurrency

In addition to buying and holding cryptocurrencies, tokens can also be staked, and if executed properly, staking can offer organizations the opportunity to generate significant passive income outside of product and service sales.

C) Investing in cryptocurrency funds (investing in DAOs, index funds, etc.)

Crypto startup investment funds like Flamingo DAO and Global Coin Research have easy access to the deal flow normally only available to top VC funds, and exposure to the high-risk, high-reward opportunities that come with early-stage startups.

In addition, index fund platforms such as Index Coop provide investors with easy access to asset portfolios representing areas such as DeFi (decentralized finance) and the Metaverse.


Vote on governance decisions

See #Governance and Decision Making#

Strengthen security with multi-signature contracts

Authorization can be assigned for different types of decisions.

Multi-signature contracts, similar to multi-signature bank accounts, require multiple people to co-sign transactions in a wallet.

Given the private-key nature of wallets, and the fact that transactions are presented on a public blockchain for all to see, this provides more transparency for decentralized organizations, even those using Web3 in some part of their business.

Intellectual property

The blockchain can serve as an IP registry where intellectual property owners keep their digital certificates.

Automatic distribution of royalties

Intellectual property on the blockchain can be used to capture royalty triggers and events (such as the streaming of a song), and generate and distribute royalties to intellectual property holders.

Not only that, but subsequent sales rights can be encoded into smart contracts. For example, if I create and sell NFTs, I can also earn a percentage of subsequent sales.

Additionally, brands, artists, and creators can incentivize their customers and fans by sharing royalties. For example, some artists distribute a portion of their future earnings to holders of their tokens or NFTs as a perk for supporting projects.


Financing of new products and growth initiatives

​Financing new products can be difficult for traditional organizations—especially when the new product strays away from the core business.

But with the emergence of the token economy, brands can use social tokens, or NFTs, to raise funds for new products, and users can invest in exchange for rights such as early access, distribution of future revenue, and lifetime access to the product.

Build on-chain products at speed and scale

Building a distributed team of developers on a blockchain can provide organizations with advantages in terms of development speed, delivery scale, and geographic reach.


Influencer and Brand Partnerships

Collaborating with influencers has become big business in the Web2 world - especially on Instagram. But when it comes to the Web3 world, the results of working with influencers can be huge.

Whether it’s collaborating at events in virtual worlds (like Decentraland, The Sandbox, Ethereum Towers), or collaborating on NFTs, there are countless ways to get influencers interested.

Partnering with influencers (musicians, actors, social media personalities, influencers, etc.) is a great way to position your brand and expose it to a whole new audience.

Advertise in the metaverse

Traffic will always be monetized — whether it’s a busy highway, an Instagram feed, or now, in a virtual world.

However, it's still early days for most of the Metaverse. Currently, advertisers can reach a larger audience with a lower "per-click" cost .

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