“It’s not the story,” Jacquemin said. “It’s just a way to enhance the story.”
The recent Coinbase Institute report revealed a gap between those who are aware of Web3 and those who have actively adopted it. Chris Jacquemin, head of digital strategy at global talent agency WME, said, “It’s one thing to go jump into Web3 having done your research. It’s another thing to really gradually move into this space, so it feels like you’re foundationally getting it right.” Web3 education remains a major pain point for developers and consumers, and the number of active wallets has shrunk across crypto sectors.
The entertainment industry is making a strong case for how to naturally implement Web3 strategies and onboard the masses. Visual media can serve as a reminder of our humanity and community, and projects like Atrium and NounsDAO are releasing an animated film based on the popular NFT characters. Global talent firm United Talent Agency (UTA) launched its Web3 division in 2021, and celebrities have flocked to blue-chip NFT projects to develop their online identities.
Web3 is changing the way media interacts with its audience, creating new opportunities for engagement. It allows for greater provenance and tracking, and offers newfound access to community and tools that are otherwise not readily available. Talent from traditional media giants are drawn to Web3 because it encourages more creative freedom and offers competitive compensation and less structure.
“We get to work with some of the best minds to create new use cases for Web3 tools,” said Lesley Silverman, UTA’s head of Web3. “We’re seeing early success stories around decentralized fan engagement and brand loyalty, with huge pop stars to luxury brands and more.”