Web3: Revolutionizing Marketing with AI and Blockchain
Traditional marketing is facing a conversion problem that Web3 technology aims to solve. The limitations of Web2-style digital marketing stem from the lack of meaningful two-way interaction with users. Despite the vast opportunities provided by social media, traditional marketing still treats users as the end of the communication chain.
Due to ineffective targeting, over 95% of digital marketing efforts fail to convert, resulting in nearly $240 billion of wasted marketing budget. This is a significant loss for a market that is projected to reach $689 billion by 2028.
To overcome the conversion problem through better targeting, transparency, traceability, and superior analytics are needed. These features align well with blockchain technology, which is why marketing has become a prominent trend in the Web3 space.
Web3 startups have embraced marketing as a way to engage new users and potential investors. Airdrops and social farming have become integral parts of the Web3 user experience. Airdrops involve distributing tokens to users for specific actions, such as connecting social network accounts or engaging in activities on platforms like Twitter, Discord, or Telegram.
Using Web3 wallets for signups, MarketingFi (the fusion of marketing and decentralized finance) has made significant progress in addressing the issue of ineffective targeting in digital marketing. With a market size of $1.3 billion in 2022, MarketingFi is expected to reach $45 billion in the next ten years, with a compound annual growth rate of 46%.
Web3-based projects have leveraged airdrops and social farming to boost community engagement. Projects like BlockGames (BLOCK) and Portal Coin (PORTAL) have successfully used token mentions on platforms like Twitter to keep their communities actively engaged. As a result, the PORTAL token’s value surged to 68 times its initial value, and Block Games gained nearly a million followers on Twitter.
However, the increasing popularity of Web3 airdrops has also attracted bad actors. Farm accounts and bot-powered Sybil attacks have harmed the efficiency of Web3 marketing campaigns. These malicious activities dilute the intended value for genuine community members and hinder project growth.
To mitigate these challenges and encourage meaningful engagement from the community, AI-powered analytics can play a crucial role. Artificial intelligence has the potential to prevent bots and token farmers from impacting airdrop campaigns. Cookie3, an AI data layer designed for the MarketingFi space, is one project utilizing AI-powered analytics to incentivize genuine community interaction.
Cookie3, in partnership with Cookie DAO, aims to establish new standards for Web3 marketing. By combining elements of social farming with referrals, key opinion leader engagement, analytics, and AI data layer, Cookie3 seeks to deliver a transparent marketing economy. The COOKIE token, issued by Cookie DAO, will be distributed through airdrops based on user behavior assessed by Cookie3’s MarketingFi Score.
The COOKIE token airdrop campaign conducted by Cookie DAO attracted over 100,000 participants in less than a week. Cookie3 aims to become the new standard for airdrops and social farming by emphasizing quality conversations and genuine engagement within the community.
Web3 technology, with its transparency and traceability, enhances user engagement and values meaningful interactions within communities. By utilizing AI to score both on- and off-chain actions, rewards can be directed more effectively to genuinely engaged users. This shift promises a future where active, value-creating community members are prioritized in the digital landscape.
It is important to note that some functionalities of Cookie3 are still under development and not yet live. The information provided in this article is for informational purposes only and should not be considered as investment advice. Before engaging in any activities related to the COOKIE token or the Cookie3 ecosystem, it is advised to consult with independent financial, legal, or tax professionals.