Supporting Web3.0-related businesses holistically through an open organization. The world envisioned by "web3 club™️" (Part 1)

Web3.0, a next-generation internet technology based on blockchain, is attracting significant attention. Its market is projected to exceed approximately ¥11 trillion by 2030. Markets are already emerging across a wide range of fields, including not only NFTs and crypto assets, but also Decentralized Autonomous Organizations (DAOs), Decentralized Identities (DIDs), Decentralized Finance (DeFi), and Decentralized Applications (DApps).

To address this landscape, the Dentsu Group established "web3 club™️," a cross-functional organization bringing together business designers, creators, content directors, data scientists, engineers, and specialists in legal and tax fields. This group supports solving diverse challenges in the Web3.0 domain, providing support for Web3.0 businesses and developing/delivering solutions. We spoke with Yasushi Echizen, Leader of web3 club™️ at Dentsu Inc.'s Business Co-creation Bureau, and Shinji Monemoto of Dentsu Group Inc.'s Dentsu Innovation Initiative, about the intent behind establishing web3 club™️ and the initiatives already underway.

We aim to foster a broad range of Web3.0 business areas in an open manner, extending beyond content and entertainment.

Q. First, could you tell us what kind of organization "web3 club™️" is and what business domains it handles?

Echizen: "web3 club™️" is a cross-organizational team comprising members from Dentsu, Dentsu Innovation Initiative (DII) which drives R&D, Dentsu Group Inc.'s system integrator Dentsu International Information Services (ISID), and Septeni Incubate, Inc. which discovers and nurtures new businesses. Anyone interested in Web3.0 is welcome to join. We bring together a diverse range of talent, including people from the entertainment sector, technology experts, and those who support clients in commercializing their businesses.

Web3.0 refers to the entire domain of next-generation internet and web technologies leveraging blockchain. Therefore, our business scope extends beyond NFTs, content, and entertainment—it encompasses virtually every field.

Fumimoto: Web3.0 also has a countercultural aspect relative to existing Web2.0, emphasizing open forms that aren't confined to a single company. We too don't want to be confined to just the Dentsu Group; we want to collaborate with various companies and, as a community, work together to energize Web3.0. It was with this spirit that we named it "web3 club™️".

Q. Since the launch of "web3 club™️," are there any initiatives already underway?

Echizen: The "web3 club™️" initiatives span several categories, including NFT projects and building new Web3.0-style CRM systems. However, at this stage, we still receive many inquiries like "How do we approach Web3.0?" Consequently, a significant portion of our current work involves advancing NFT-related projects for client companies. We distribute NFTs in collaboration with companies invested in by DII. For example, we've distributed NFTs using IP from gourmet manga.

Fumimoto: Regarding Web3.0 utilization support, NFT-based initiatives are currently central. To give one concrete example: selling NFTs to build a community, fostering co-creation relationships with users to boost IP value. For instance, we're advancing a Web3.0 native IP project using NFTs to promote idols—where holders of NFT membership cards can participate in idol activities. Additionally, we've begun initiatives like distributing character NFTs at sports tournaments and distributing NFTs to attendees of anime events in Middle Eastern countries. The vision is to foster fan-driven community building through such efforts, where NFT holders can log into official websites to view their NFTs or gain utility.

Feel free to consult us about anything related to Web3.0

Q. "web3 club™️" was established in September 2022. What kind of inquiries and feedback have you received so far?

Echizen: We've received many inquiries from client companies asking for advice or requesting study sessions. We've also received requests from overseas startups with cutting-edge Web3.0 technologies asking, "We want to launch this initiative in Japan—can you join us?" Previously, startups often felt "Web3.0 isn't for large corporations," but now that Web3.0 is entering the commercialization phase, more startups are actively seeking partnerships with major companies.

Q. What kinds of inquiries do you anticipate receiving from companies going forward, and how do you plan to respond?

Echizen: Last fall and winter, we received many vague inquiries like "What is Web3.0?" or "Is there room for us to use Web3.0?" However, as we continued sessions with these companies, some began to think, "We want to do something with NFTs within our own business." Now, some companies come in with a clear vision from the start, like wanting to implement something like "X to Earn" (a mechanism to earn cryptocurrency through actions like "Play to Earn" or "Sleep to Earn"). But most companies are not yet at that stage. So, right now, we respond to all inquiries with an open approach.

Bunmoto: Requests like "We want to utilize NFTs for marketing" or "We want to create new Web3.0-native IP using NFTs" are, of course, welcome. We, too, are eager to take on such challenges with many companies.

Web3.0 remains largely unfamiliar territory for most companies. To overcome these challenges and deliver new value, the Dentsu Group's cross-functional organization "web3 club™️" supports Web3.0 initiatives—including NFTs—and develops/provides solutions. In Part 2, we delve deeper into the business and societal vision "web3 club™️" aims to achieve.