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I’m lucky enough to have had great experiences with both huge Fortune 500 brands and also with amazing start-ups.

Since I joined the Web3 space, I’ve helped build insane projects for global companies and also contributed with small teams to get their projects off the ground.

As you can imagine, each “side” requires different approaches and strategies.
Some of our recent editions (#37, #39, and #40) explored how Web3 can help smaller businesses and solo builders reach their goals. Then, edition #42 was about how the space is also very interesting for bigger companies.

And today, I want to continue on the latter. And also discuss the importance of those big names to our ecosystem.

LFG!

Sometimes, you gotta go fast:
The agility of smaller Web3 projects

“Fast-paced”

“Everchanging”

“Volatile”

These words are commonly used to describe the Web3 space. Yeah, they may sound like a cliché, but they are also true.

In Web3, smaller and more nimble projects and companies often take the lead. They often have the advantage of being able to quickly adapt to changing environments and implement innovative ideas without the bureaucratic red tape that often slows down larger corporations.
This agility allows them to experiment with new technologies and respond to market demands.

Moreover, smaller projects are frequently at the forefront of community engagement and user-centric development → vital ingredients for Web3.
By closely interacting with their user base and incorporating feedback into their development cycles, these projects create products that truly resonate with their communities, which fosters loyalty and engagement.

For instance, decentralized finance (DeFi) startups have revolutionized financial services by offering decentralized lending, borrowing, and trading platforms that operate 24/7, far outpacing traditional financial institutions in terms of innovation and adaptability.
(If you want to read more about DeFi & Finance in Web3, check our edition #20).

However, while smaller projects excel in innovation and community engagement, they may face challenges in scaling and sustaining long-term growth. Limited resources and funding can sometimes constrain their ability to expand, and they may struggle to navigate regulatory landscapes.

Despite these challenges, the contributions of smaller Web3 projects are invaluable, as they push the boundaries of what is possible and lay the groundwork for broader industry advancements → And following the “put your money where your mouth is” idea, I am currently working with several projects, from different sizes, each with its own challenges and goals.

Reach, funds, and scale:
The role of big brands in Web3

Whether we like it or not, big brands and Fortune 500 companies play an important role in the validation and mass adoption of Web3 technologies.

These established entities bring significant resources, credibility, and a broad audience reach that smaller projects often lack. When a well-known brand enters the Web3 space, it not only helps showcase the technology but also draws mainstream attention and investment.

For instance, according to Coinbase, the number of blockchain and Web3 initiatives announced by Fortune 100 companies increased by 39% year-over-year, indicating a growing interest and commitment from major players.

The involvement of big brands also serves as a bridge for mass adoption.

These companies have the marketing power and customer trust needed to educate and onboard a wider audience.
By integrating Web3 tech and concepts into their operations, they provide real-world use cases that demonstrate the practical benefits of blockchain and related innovations.

In recent editions, for example, we explored use cases from names like PayPal, Telegram, and Mastercard → Their hundreds of millions of users can never be ignored.

Additionally, big brands contribute to the development of robust and scalable Web3 infrastructure. Their investments in technology and talent help build the necessary foundations for widespread use.

Despite the whole “crypto x traditional banks” thing, names like JPMorgan have facilitated billions in daily transactions showcasing with their Onyx platform, while BlackRock and other big guys made noise when Bitcoin ETF hit the news not long ago.

So whether it’s through crypto or using other paths (collectibles, rewards, etc.), traditional brands can contribute a lot to mass adoption.

In past editions, we talked a lot about the benefits that big companies can get by adopting Web3 - now, here’s a quick summary of the positive things they can bring to the table:

• Validation and Trust: Big brands help validate Web3 technologies, lending credibility to the space.

• Mass Adoption: They act as a bridge for mass adoption, leveraging their broad audience reach.

• Infrastructure Development: Investments by major companies help build robust and scalable Web3 infrastructure.

• Educational Role: These brands can educate their customers about the benefits and uses of Web3.

• Market Influence: Their involvement drives market trends and encourages other businesses to follow suit.

(In case we want to read more about the parallels between huge companies and start-ups in the Web3 space, check our edition #9).

Spotlight:
Lamborghini and Animoca Brands Partnership

One interesting example of a big brand embracing Web3 is the partnership between Automobili Lamborghini and Animoca Brands.

This collaboration aims to blend luxury automotive with digital innovation, creating unique experiences for both car enthusiasts and Web3 fans.

Lamborghini, known for its high-end cars, has in this partnership a way to engage with a new generation of tech-savvy consumers who are enthusiastic about digital assets and blockchain technology.

The partnership focuses on creating exclusive digital collectibles and experiences tied to Lamborghini's iconic vehicles. These collectibles, in the form of NFTs, offer owners a chance to own a piece of Lamborghini's legacy in the digital realm.

The NFTs can include virtual tours, limited edition artwork, and even access to real-world events. This strategy enhances Lamborghini's brand appeal within a new space, while also providing a new channel aimed at younger/future generations.

Animoca Brands brings its expertise to the table, ensuring that the digital experiences are engaging and seamlessly integrated.
Thanks to blockchain, the partnership ensures that the authenticity and ownership of these digital assets are verifiable, adding a layer of trust and exclusivity - something even more valuable when we are talking about luxury items/brands.

This blend of luxury and technology is a cool use case of how traditional brands can evolve with Web3 to stay relevant and innovative.

“This is just insane”

By the way, Chris is referring to one of the numbers in one of the images I shared above: “56% of Fortune 500 executives say their companies have onchain projects”.

And yes, it’s insane!

I have been saying this for a long time, but here it is again: let’s think BEYOND crypto.

Yes, that’s a very important and exciting aspect of Web3, but when it comes to Fortune 500 brands, the conversation tends to be very different. We are talking about blockchain, immersive commerce, open loyalty, and many other different applications of Web3 concepts.

“It’s happening”

Well, I know, right? 🤝 

So, instead of thinking that this is a conversation for the future, or that Web3 is just for our bubble, think about how you/your business can leverage this revolution and position yourself accordingly for what’s ALREADY HAPPENING.

(Loved the beanie, Aram 😅)

“Seamless integration”

PREACH!

Exactly, Ray.

And since we are talking about big brands today, this is especially important.
When you have millions of users, your product/solution shouldn’t be complex.

Let’s leave all the jargon, fungibles, blocks, and chains for the developers and builders to take care of.

—

All these comments were made on my LinkedIn, on posts about Fortune 500 brands and/or Web3 solutions.

Charts, numbers, and data:
An overview of the current scenario

I want this edition to end with some interesting data that can help us better understand the current state of the relationship between some of the world’s biggest brands and Web3.

As you can imagine, this may look very different next year, but RIGHT NOW, it’s undeniable that moves are being made for those big guys.

The image above helps reinforce the fact that Web3 is MUCH more than crypto.
As you can see, things like Smart Contracts and Tokenization, while not as popular as terms like “Bitcoin” and “NFTs”, are great Web3 use cases for big companies.

For the next image, I recommend you zoom in. Believe me, it’s worth it.

Yes, it’s a chart about “Drivers and Barriers to Engaging Onchain”, but we can also see it as a list of business opportunities.

For example: “Lack of trusted talent with the right skills” can be seen as “Hey, if I know Web3, I can be better positioned for jobs at these companies”, while “Uncertainty on how to get started” may be your chance to go educate those companies.

Yes, a lot of opportunities.

See you soon.

#LFGrow
Diego Borgo