Any brand can tap into Web3. Conversely, every business and industry has the potential to be disrupted by the metaverse. To get a grasp of the metaverse, start with the foundational principles. New to the metaverse? Join the club. Megan Effertz with D2 and Nuno Leal with EY discuss how to wade confidently into this new platform and talked about the types of C-Suite conversations your team should be having to onboard Web3.
C-Suite Conversations You Should Be Having
Megan Effertz, vice president of Web 3.0 for D2, took the stage at the 2022 D2 Summit in New York City with Nuno Leal, partner at EY. They discuss what C-Suite conversations conference participants and other Web3 and metaverse champions should be having to move Web3 forward. The two kicked off their conversation with Effertz asking Leal what presentations stood out for him throughout the conference. “A lot of things. I really like the good mix of company stories, crypto native stories,” says Leal. “I love the Mattel discussion….that’s a proof point that any story can tap into this technology, any brand can tap into this technology. [Mattel] is a brand that is almost 100 years old. It’s very important that [Web3] is not just about tech companies,” he says.
What Stood Out
Effertz says that what stood out to her were the new opportunities for enhancing the customer experience. “So much of what we’ve already done from a customer experience exists. This is just that new technology that you can tap into. You could do what you’re already doing but you could actually have more engagement, a deeper engagement, know your customer better. And I think at the end of the day that is what all brands want to do,” she says.
Effertz asked Leal what advice he would give to the C-Suite to go deeper into the technology? “I find [the metaverse] harder to study than other topics because it brings a lot of different concepts,” such as technology, math and economics, business modeling, and game theory. “It’s very hard to understand if you’re just reading one-off articles,” Leal says.
To form a greater understanding of the technology, Leal suggests reading long-form texts, such as books and white papers, following the metaverse expert community on Twitter, and becoming a user of the technology yourself: Buy an NFT, set up a wallet, etc.
The Most Common Question
The most common question Leal gets from companies is: “Why do I need Web3 to do this?” He notes that these were the same questions when the internet was first introduced. Every industry, says Leal, can be disrupted by Web3.
“So, people really should be thinking about how this can disrupt this business, how they are going to change with it, how they are going to take advantage of it, rather than fall victim to it?” asks Effertz. “100 percent,” says Leal. The business mentality, he says, should be about trying things, disrupting parts of the business, and looking at new ways to solve problems with a different set of tools.
To learn more about how you can get started with Web3 technology and hear what Brands and Fortune 1000 companies are doing, sessions from the event are streaming on demand here.