“The Rising Tide of Web3 in Digital Marketing: Over $600 Million Raised by 70+ Startups”
In a groundbreaking surge, more than 70 startups have secured a staggering $600 million in funding within the nascent Web3 digital marketing sector. As the Web3 ecosystem blossoms, it presents an unprecedented opportunity for digital marketers, with close to 200 companies actively exploring ways to leverage the Web3 technology stack.
Recently, Safary, a renowned Web3 marketing analytics firm, unveiled a pivotal report titled “The Web3 Growth Landscape 2023” on July 25. The report shed light on the remarkable transformation of the digital marketing realm. While the 2010s were deemed the “golden age of digital marketing” under the Web2 growth era, witnessing a surge from 150 marketing companies in 2011 to a staggering 11,000 in 2023, the landscape has since shifted towards a privacy-centric environment.
The findings reveal that marketers must adapt to these new realities and embrace the potential of the Web3 tech stack. Presently, nearly 200 companies are deeply immersed in exploring the possibilities of the evolving digital media landscape. Among them, 71 have collectively raised an impressive $600 million in funding.
Leading the pack in well-funded categories are Messaging, Questing, and Loyalty platforms, each attracting funding amounts exceeding $100 million. Quest platforms like Yield Guide Games are creating engagement marketplaces that facilitate direct brand-user interactions, providing an alternative to traditional ads. Furthermore, loyalty companies are enhancing customer value and retention through innovative rewards programs powered by NFTs and tokens.
For marketers, several analytics tools like Nansen and Dune have emerged to aggregate on-chain, platform, and social data, enabling growth insights into Web3 communities. Discovery platforms, exemplified by DappRadar, have the potential to become prime advertising real estate in the Web3 world, given their long-term investment in strategies like SEO. Notably, CoinMarketCap stands as a shining example of one of the highest-traffic websites on the internet.
Adding to the momentum, 18 Web3 growth agencies are now actively advising and implementing growth strategies on behalf of various blockchain projects. The marketing industry itself has witnessed a substantial 11% increase, with 11,038 marketing solutions and services being logged by Chiefmartec this year, compared to 9,932 in 2022.
As Web3 continues to evolve and flourish, marketers must stay ahead of the curve. Already, hundreds of startups have embarked on this transformative journey, marking the dawn of a new era in digital marketing.