On this week's MadTech Podcast, Amina Folarin, chief executive officer, UK group, at Oliver Agency, joins ExchangeWire editor Grace Dillon and head of content John Still to discuss how brands are experimenting with Web3, the nature and importance of live events, and more.

Agencies continue to experiment with Web3 tech

In what ways have you seen brands experiment with Web3 technology? How can agencies support them in the transition from Web2 (or 2.5) to Web3?

While excitement around Web3 has cooled slightly, media agencies are continuing to explore its technologies and say that clients are still interested in trying out what the next phase of the internet has to offer. 

A number of media agencies have recently worked with clients on digital wallet and blockchain integrations, with brands reportedly exploring how Web3 can create greater value for and loyalty from their customers. Companies have partnered with agencies on projects including custom NFTs and immersive metaverse experiences. To date, decentralised virtual world The Sandbox has partnered with around 400 firms (such as Warner Music Group and Adidas) to deliver new engagement experiences. 

Changes to events offers new opportunities for marketers

What place should events have within a brand’s marketing strategy? 

The nature of events has changed dramatically as a result of the pandemic, and some creative agencies have used this shift to implement new ways of building shared experiences. Live Marketing, where brands “build an ecosystem” for connecting and integrations of both pre-existing (such as video chat) and emerging (like the metaverse) technologies are providing new opportunities for brands to connect with their target audiences. With a lower risk of fraud, hosting online events also offers another way of engaging with audiences while also gaining quality first-party and contextual data.