A mindset of collaboration. Not competition.

So how do you develop this mindset?

The first step is to understand the Web3 vision and why it matters.

Web3 is not just about using technology to build faster, cheaper, and more secure applications. It’s about creating a more open, fair, and inclusive internet that respects user sovereignty, privacy, and choice.

According to Sharad Agarwal, Chief Metaverse Officer of Cyber Gear, “Brands need to look at Web3 with a fresh pair of eyes. Leaders need to think of innovative ways to collaborate with competitive brands to understand the demographics of the fansumers and grow the market. We all need to move away from how we used to do things in Web 2.0 and embrace what Web3 has to offer. Create a Win: Win model.”

The most significant distinction between Web 2.0 and Web3 is the change from a centralized to a decentralized internet. For the first time in history, power is now shifting from big brands to, we the people. You and I will decide what we buy, and the brands will manufacture exactly what we need. This will in fact lead to more sustainability and less wastage. Good for the planet.

In the new creator economy empowered by Gen AI tools, we simply do not have any excuse, but to succeed. We are now enabled with powerful AI apps to co-create businesses in a quick time. Something that was not possible, up until now.

Trust and user empowerment are the cornerstones of Web3. E-commerce enablement will be the new norm. While Web 2.0 would require the user to enter bank or credit card details so that a company would handle the payment, Web3 uses blockchain to allow payments to be made directly, which can be more efficient and seamless.

Web3 is a movement that challenges the status quo and aims to create a more democratic and participatory web. To succeed in Web3, you need to build a robust Web3 community of open-hearted and like-minded people. A community where you listen to the voice of the members.

Starbucks got the idea to launch Mocha Frappucino, their best-grossing product to date, from a barista in Mexico. Your best friends, therefore, should be the gatekeepers of successful Web3 communities. Join networks, such as DAOs, NFTs, or DeFi projects, and contribute to their development, governance, and sustainability.

It is important to align your purpose, values, and incentives with the Web3 vision and communicate them clearly to your team and all stakeholders. Stay curious!

Finally, to adopt a Web3 culture, you need to share your knowledge, skills, and stories, and inspire others to get involved and benefit from Web3. A good example of a successful model is the Meta Shapers community at www.meta-shapers.com

Web3 is for every industry in every geography. Cyber Gear has documented several successful case studies for global brands that have built Web3 and Immersive experiences.

Visit www.cyber-gear.io for more insights.