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The Rise of the Web3 Growth Stack
The Web3 Growth Stack, is gearing up to become a key layer in the next stage of crypto utilization. Learn more about the 125+ startups laying the foundations in Web3 growth.
Note: This post is a revised version of this Twitter thread.
Today, there are over 125+ startups working on solutions to empower some of the world’s most innovative companies, ecosystems, and brands as they navigate Web3 growth. From analytics and identity to CRM the software category is diverse.
Let's dive in and learn more 👀
Covering everything from analytics, attribution, and advertising to CRM, community, and loyalty, the tools that are surfacing may be familiar to many traditional marketers, and yet, they’re something entirely new: a category slowly becoming known as the “Web3 Growth Stack”.
The Web3 Growth Stack, or simply the tools and solutions product managers and marketers utilize to attract visitors, convert users, drive engagement and hit retention goals (using Web3 technologies) is gearing up to become an important layer in unlocking the next stage of crypto utilization.
If blockchain & NFT technologies are to achieve mass adoption, the value to be captured within this software category is immense. You just have to look at web2 counterparts like @HubSpot, @klaviyo and @mixpanel to understand the indispensable nature of these solutions
The importance of the MarTech category is at least partially substantiated by the sector's stratospheric growth – surging 6,571% or from 150 to 9.9k+ companies during the 2011 to 2022 period.
In hindsight this is obvious.
These tools (i.e. CRM/MarTech software) help support brands, startups, and enterprises manage business critical operations, including sourcing demand, engaging their users, measuring conversions, monetizing, and generally keeping customers happy.
And yet much of the web2 growth tooling is ill-suited to the needs of the companies and projects operating within crypto and web3.
Marketing automation and customer engagement solutions like @salesforce and @Mailchimp don’t account for on-chain activities and events. Product analytics and attribution platforms like @segment and @Amplitude_HQ lack blockchain and NFT data.
The list goes on...
The reality remains. Founders in Web3 are at a fundamental disadvantage to their Web2 counterparts when it comes to marketing and sales as they lack the ability to effectively leverage most current tools for growth. Tools that are considered indispensable in Web2.
Cue the rise of the Web3 growth stack.
Not only does this new generation of software fulfill the needs of the most innovative organizations, they’re also setting the standard for a new class of software that bridges the gap between traditional SaaS and blockchain based solutions.
The Web3 Growth Stack: Areas & Companies to Watch
Here are a few areas our team @metacommerceapp is watching closely.
- Decentralized Identity
- Analytics
- Loyalty & Rewards
- Marketing, Automation, Customer Engagement
- NFT Tooling & Protocols
- Community Growth
- Communities
Let's check out some of the leaders in each!
Decentralized Identities
In web2 you can build rich customer profiles for targeting. In web3 we're witnessing new data sets emerge to support this need. These on-chain credentials, identities, and namespaces are all providing new layers of insight and control.
On-Chain Analytics
Blockchain analytics platforms have received considerable interest in 2021/2022 and rightfully so. Analytics power better decision making. Here are a few of the best
Loyalty Software
With the introduction of @Starbucks Odyssey, the interest in web3 rewards/loyalty solutions has been heating up. These are a select few defining how NFTs and web3 fit into it all.
Marketing, Automation, and Customer Engagement
Every company needs tools to better understand, manage and engage their community members, users, or customers. But Web2 solutions are all geared to "Contacts" not people with wallets.
These are the companies defining a new path.
NFT & Smart Contract Tools
Tokens and digital assets are being used in a variety of ways to drive revenue, and or kick start growth. At the core are smart contract and NFT studio solutions (cough @manifoldxyz ).
Community Management
Community-led growth has become a category all in its own. While these companies err more on the web2 side of things, many web3 companies find themselves leveraging these tools to manage their myriad of social channels.
Marketing Communities
Of course, we can't gloss over communities.
Everyone can benefit from a strong network that they can lean on for support or advice, especially in web3. You don't need to walk the path alone!
The TLDR
If it's not clear by now, our team is sufficiently bullish on web3 growth tooling. It's our belief this category of software will supplant previous generations of MarTech tooling - as it solves for many of the challenges we face online today.
People are tired of being used for their data, they care about their online privacy, and they are seeking community, over products.
On the flipside, businesses are facing increasing ad competition and rising CAC.
This has created the perfect storm for blockchain adoption.
Cutting this article (err thread?) here but if you have any suggestions for how to improve this article, or companies to add, don't hesitate to drop us a line at hello@metacommerce.app.