Integrated support for Web3.0-related businesses through an open organization. The world "web3 club™️" aims to create (Part 2)

Web3.0, the next-generation internet infrastructure, is projected to exceed a market value of approximately ¥11 trillion by 2030. Established as a cross-functional organization within the Dentsu Group, "web3 club™️" supports solving challenges across a wide range of fields in this domain. The club already has various projects underway, including NFT marketing and IP creation utilizing NFTs. Web3.0, which emphasizes direct connections between individuals, holds the potential to significantly transform current business models and corporate structures.

In the first part of our interview with web3 club™️ leaders Yasushi Echizen of Dentsu Inc.'s Business Co-creation Bureau and Shinji Monemoto of Dentsu Group Inc.'s Dentsu Innovation Initiative, we discussed the establishment background and past initiatives. In this second part, we delve into the future vision and outlook for web3 club™️.

NFTs as Proof of Achievement: Building Personal Credit and Creating a World Where Self-Realization is Easier

Q. A key feature of "web3 club™️," which involves various organizations within the Dentsu Group, is that its positioning and perspectives differ depending on the affiliated organization and members. From an R&D perspective, what future outlooks and challenges do you see?

Bunmoto: From an R&D perspective, we believe NFTs' function as proof of achievement is more important than their value as a commodity. For example, the NFT-based loyalty program implemented by a major coffee chain is an NFT serving as proof of achievement. Users earn NFTs by participating in quizzes or games, gaining corresponding benefits or experiences. We envision that accumulating such NFTs as proof of achievement will gradually form something akin to an individual's identity.

Individuals could leverage the credit formed by these achievement-proof NFTs to participate in DAOs (Decentralized Autonomous Organizations). They could say, "This person has these achievements, so let's offer them this job," or "I have these achievements, so I can do this." I believe we're heading toward a world where individuals can achieve self-realization through NFTs in this manner. That's the kind of world we want to realize through Web3.0.

Q. Are there any existing projects based on this concept?

Bunmon: At a summer school run by a media artist, graduates are awarded their certificates as NFTs. In the future, a community could form where only holders of this NFT certificate can participate. This community might provide support beneficial for university entrance exams, or after entering the workforce, enable job opportunities through that community. Such possibilities could become reality.

Echizen: Even the current corporate use of NFTs for marketing, from an individual's perspective, is an activity for building personal credit. Going forward, we need to create mechanisms for how to utilize this beneficially for society as a whole. I hope we can take on that challenge together with other companies.

Improving UX is key to popularizing NFT-based credit

Q. Web3.0 enables a world where individuals can achieve self-realization. Conversely, this might mean marketing will increasingly need to be considered from the perspective of what companies can do to support individual self-realization.

Bunmon: Exactly. Responding to and supporting such strategic direction is precisely the strength and defining feature of "web3 club™️."

Furthermore, to effectively utilize individuals' NFTs as credit in the future, it's crucial to move beyond closed economic ecosystems (limited organizations). Instead, permissionless public blockchains—accessible to anyone without administrator approval—will become vital, enabling diverse companies and services to utilize NFTs. On the user side, however, challenges exist in the UX when interacting with Web3.0 services. For instance, purchasing NFTs often requires cryptocurrency, and users must set up their own wallets. We feel there is room for improvement here. Therefore, we invest in companies developing wallets that enhance the UX when users interact with Web3.0 services, as well as companies developing services to spread such NFTs throughout society. We're also starting to create services with good UX using public blockchains.

Echizen: We want to take on challenges alongside companies that leverage these public blockchains, avoid locking in customers, and collaborate with various businesses to transform society. In the Web3.0 world, we want to work with such companies to figure out how to create services that provide better value for individuals.

The Web3.0 era, where NFTs become personal credit and each individual can achieve self-realization by valuing their own principles. Marketing approaches and business models will undergo significant transformation. For this era, the challenge of "web3 club™️"—where diverse organizations and members team up—has only just begun.