The Echoes of the Past: Web3 and the Dot-Com Era
The author compares the current rise of Web3 to the dot-com era, highlighting similarities in the disruptive nature of these technologies. They reflect on their personal experience during the dot-com boom and subsequent crash, drawing parallels to the current state of Web3.
Key Points:
- In the aftermath of the dot-com crash, companies that focused on building relevant products and sustainable brands survived, while those that were less prudent disappeared.
- Established companies, once the pressure eased, were able to make rational investment decisions and explore the internet at their own pace.
- Surviving challengers became more willing to collaborate on integrated offerings, recognizing that online solutions were not the sole path to success.
- Talent that had left traditional corporations for startups re-entered the job market with fresh ideas, which companies could harness to develop meaningful online strategies.
- As the commercial landscape settled into the new digital reality, bricks and mortar evolved into “clicks and mortar.”
The New Era: Blocks and Mortar
The author predicts that we are entering a new era of “blocks and mortar” solutions that will define the Web3 generation. Drawing from history, they anticipate that some of the current Web3 protocols and players will become highly valuable investments in the future.
Key Takeaways:
- Focus on doing what you do best and telling a consistent story rather than riding the hype.
- Consider how your brand-new technology can work with existing systems for a more powerful evolution.
- Build connections to what your customers already know and value to ease the adoption of new technologies.
- Lead clients to change slowly, showcasing how you can build a new world with them rather than turning their world upside down.
- Recent announcements from enterprises like Sotheby’s, Sports Illustrated, and Mastercard demonstrate the integration of Web3 into existing businesses.
Hot Take
The era of blocks and mortar has arrived, and the future of Web3 looks promising. As more companies embrace this technology, it will become an integral part of our daily lives, just like going online did over a decade ago. Exciting advancements and collaborations are already happening, and the potential for growth and innovation is immense. Get ready for a thrilling ride into the world of Web3!
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