From Gucci to Starbucks to Nike and Netflix, it feels like every major brand is working on their Web3 strategy. But what does this have to do with you?

Brands are making small consistent bets and big MONEY moves because they understand the next phase of customer loyalty lives in Web3 . 

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Here are two big examples: 

Gucci continues to bring potential customers into their digital world in Web3. Starting from May 2021 Gucci launched a collaboration with Roblox called Gucci Garden, where users enter through a virtual lobby to try on and purchase Gucci products. In January 2022, Gucci collaborated with Superplastic, an entertainment company known for their digital celebrities, and created a three-part drop including NFTS, ceramic figurines and vintage Gucci pieces. 

After making moves in the digital native space like Roblox or Superplastic, Gucci started moving more mainstream. In May 2022, they announced that they would accept crypto payments at select locations i. And to be Web3 official, Gucci launched Gucci Town, a permanent space in Roblox in June 2022; and in July 2022, Gucci joined the SuperRare Dao and acquired $25,000 worth of RARE Token. 

In August, Gucci also became the first major brand to started accepting ApeCoin (Bored Ape Yacht Club token). Gucci has become one of the leading brands in Web3 through its consistent, subtle and yet ambitious small bets. Each of their move represents who they are as a brand and demonstrates that they are deeply involved with the culture. As a Gucci customer, you can easily connect with the brand with both of your online and offline identities and experience Gucci in many different forms of Web3. 

Compared to Gucci, brands like NIKE are another interesting example. Instead of making consistent small bets, they made big bets like acquiring RTFKT, a digital fashion and 3D creation studio with which they launched co-branded digital sneakers, NIKE Cryptokicks. Nike acquiring a Web3 native team is a bigger bet than most other brands that enter the space by doing partnerships or building a small in-house team. It’s very authentic from its artistic alignment to the brand identity, which enables Nike fans to reflect their fashion preference in their digital identity as well. 

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Let’s break down how these big and small moves add up to a Web3 customer loyalty strategy.

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Identity     

When it comes to Web3 brand identity, someone in the company needs to understand what’s going on in the metaverse. Not the technicalities of it, but the Web3 culture. Partner at BITKRAFT Ventures, Moritz Baier-Lentz mentioned that “Getting Web3 'right' means more than understanding the underlying technology. Brands who see NFTs primarily as a monetization channel miss the point: this is about empowering consumers by building a community with shared incentives and opportunities for fan involvement—from creation (UGC) to marketing (Discord) and even decision-making (DAOs).” 

How do you understand Web3? Study it, listen to podcasts, read newsletters and hang out in Discord groups. Develop an understanding of why people are into it from a psychological level.

When Gucci and Superplastic was launching the SuperGucci collection, Gucci’s head of design Alessandro Michele co-created the collection with artists Janky and Guggimon. While Gucci can easily put a logo on top of the digital character’s outfit, the collection was way more than a simple logo stamp. It was well designed with Gucci’s iconic flowers, and the vibe of the artwork made it clear Michele had spent time thinking specifically about Web3 branding. 

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Partnerships     

Know who you are and stop chasing who you are not. When it comes to brand partnership, it’s so easy to go after the most obvious solution or the most popular brand in the industry. However, you need to be more subtle. You need to really understand your strengths and weaknesses. 

Brandon Yahn, Partner at Convivialite Ventures, the venture arm of Pernod Ricard (the world's second-largest wine and spirits seller), shared that when Absolut Vodka was launching Absolut Juice, the team collaborated with music artist Lizzo. Lizzo has a song called Juice, and the collaboration received commercial success because of the synergy between the brand and the artist.  Lizzo’s song is about going out, having a good time, Absolut Juice is celebrating the same spirit. It's the same for Web3. Brands should collaborate with artists/ technology that empowers them to be who they are.           

A brand like Nike can easily partner with any top artists. However, it decided to go for the synergy and design style instead of chasing the fame. Nike’s acquisition of RTFKT lead to their successful launch of Cyptokicks, an extremely authentic collaboration. 

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Community

Brand loyalty comes down to community. Best brands have a cult-like following because of the sense of community they provided to people, not one specific product or service. 

Starbucks fans might like the Starbucks Star program, but that’s not why they chose Starbucks. They chose Starbucks because the fans know that they can trust that Starbucks has a standard in creating a stable product and an environment people like. When it comes to Web3, your brand needs to create a digital place where like-minded people meet and become friends, create a certain level of belonging and trust. Curiosity is what draws people in, but a community makes them stay. The feeling in the community creates brand loyalty. 

Founding BFF Avery Akkineni, President of Vayner3 mentioned that Vayner3 has been hiring from within the crypto native and Web3 community (like Twitter). 

“Web3 is built by the community and for the community. Web3 has changed how consumers interact, engage, and express themselves by unlocking this unprecedented opportunity for digital identity and ownership. It brings a massive opportunity for brands as well as consumers, she said.

Bottom line: Gucci and Nike are some of the most iconic brands in the world. They have cult-like followings because they are constantly innovating, they adapt cutting edge technologies not only to advance their brands but also to stand for something. Web3 and NFT is a culture revaluation. It’s a place where brands can talk to their fans through giving them opportunity to own part of the cultural movement. What’s more exciting than owning a pair of Nike or a Gucci bag? Owning the cutting-edge energy. The identity tells people who you really are.  

In Web3, building a brand helps people reflect their true identity. Build a brand that consistently delivers that feeling to those in your community. 

This is not financial advice. If you don't want to spend money investing in crypto or Web3 — you don’t have to. The intent of this article is to help others educate themselves and learn.

Grace Gong is the Founder, CEO and Host of Smart Venture Podcast