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Between Charmin toilet paper NFTs and Whoppers with a side of digital coins at Burger King, 2021 was the year cryptocurrency and the technology surrounding it became inescapable in the marketing world.
While brand marketers have long talked about the transformative potential of blockchain—the digital ledger system that serves as the backbone of cryptocurrency—the concept grew in mainstream consciousness into a constellation of technologies that some enthusiasts now collectively refer to as Web3. Definitionally, Web3 is an internet of the future that runs on a blockchain-based digital ownership tech called nonfungible tokens (NFTs) and incorporates shared virtual spaces known as the metaverse.