With a continuous incline in the adoption of crypto and blockchain tech by web2 companies, it is expected that their web3 counterparts will play a great role in the assimilation of web3’s processes by the web2 giants. In one of such moves, web2 company Google, has partnered with Solana to develop the integration of Google Cloud into crypto gaming, as a solution to off-site data storage, tagged GameShift.
The goal of GameShift is to simplify web3 games integration with Google Cloud, as a provision for creating and managing in-game assets, securing wallets, handling payments, and so much more. And for our topic today, we shall be discussing how web3 builders can leverage the transition of web2 giants into crypto technology, as a medium to drive global blockchain adoption.
Web2 companies are increasingly moving toward Web3 for its benefits such as decentralisation, enhanced user control, and new business models. In Web3, users gain greater control over their data and digital identities through blockchain technology, shifting power from centralised platforms to individuals. This presents a new set of opportunities in terms of data usage, marking a significant change from Web2’s centralised data model, where companies control user data.
For businesses, new opportunities for monetization, such as non-fungible tokens (NFTs) and decentralised finance (DeFi), presents fresh revenue streams, as user interaction creates value within the platforms they use. Additionally, Web3’s focus on transparency and security, powered by blockchain, is attractive to companies that prioritise data integrity and user trust. Meta (formerly Facebook) is exploring blockchain solutions to create decentralised social media ecosystems, giving users more control over their data and reducing privacy concerns. By adopting Web3 technologies, Web2 companies can align with growing user expectations for transparency, security, and fairer participation in digital ecosystems.
In terms of onboarding web2 companies who come to build or integrate web3 strategies into their operations, native web3 builders play a huge impact on their performance, having a positive impact in each interaction. Take the GameShift project as an example. With Google Cloud, traditional devs can access its digital storage platform, and build their projects/products with it. But to penetrate into the crypto economy, Google has had to partner with Solana, a leading blockchain network with diverse crypto niches.
This shows the relevance of directives/support from native web3 builders for web2 companies coming into web3, as it can impact the overall performance of the project/product. As of 2023, global spending on blockchain solutions crossed $17 billion, indicating growing interests in decentralised technologies. However, many Web2 businesses face technical and operational challenges in building and using blockchain tools. By leveraging their expertise, Web3 builders can become key facilitators in this migration, offering a simplified onboarding process. Web3 builders can create tools like APIs, middleware, and integration platforms, allowing Web2 businesses to gradually explore the benefits of blockchain, without fully “exposing” their entire operations.
Web3 builders can also capitalise on this opportunity by offering education and consultation services. A 2022 Gartner report found that 75% of businesses had little to no understanding of blockchain or Web3 technologies, which contributes to their hesitancy in adopting these systems. Native Web3 builders can address this knowledge gap by providing workshops, tutorials, and consulting sessions. By demystifying complex concepts, the web2 companies can then clearly understand how Web3 technologies can improve their operations, encouraging them to embrace the shift.
Lastly, Web3 builders can drive impact by creating real-world use cases and pilot projects that are tailored to the needs of such Web2 companies. For instance, by 2021, over $23 billion in NFTs were traded, signalling the enormous potential of tokenized assets for companies looking to engage users in new ways. Web3 builders can collaborate with Web2 companies to develop blockchain-based loyalty programs, decentralised data storage solutions, or tokenized customer engagement platforms. These pilot projects offer Web2 companies a low-risk environment to explore decentralised technologies while gradually building confidence in them.
By addressing existing pain points and unlocking new opportunities, Web3 builders can help businesses realise the practical value of transitioning to decentralised platforms, ensuring a smoother and more widespread adoption of Web3 technologies.
How Can native builders focus on improving onboarding experience for web2 giants?
Native Web3 builders can adopt several effective strategies to simplify the onboarding process for Web2 companies, ultimately benefiting customer usage. One of the primary strategies is to create intuitive and user-friendly interfaces that minimise the technical complexity for both businesses and their customers. For example, builders can develop seamless integration tools, such as APIs and plug-ins, that allow Web2 companies to adopt Web3 features without overhauling their systems. This enables customers to access decentralised services, such as blockchain-based payments or decentralised identity systems, with minimal friction, creating a smoother user experience while retaining the familiarity of Web2 platforms.
Another key strategy is to offer personalised consulting and education to Web2 companies to help them better understand how Web3 technologies can enhance customer experiences. Native Web3 builders can provide step-by-step guidance and industry-specific use cases to demonstrate how decentralised technologies, such as token-based reward systems or decentralised finance (DeFi) platforms, can offer new value propositions to customers. By focusing on clear, practical applications, builders can help businesses implement Web3 features that improve customer engagement, increase transparency, and offer new monetization opportunities.
Finally, prioritising interoperability and hybrid solutions is essential for easing the transition and ensuring customer benefits. Native Web3 builders can create hybrid models that allow Web2 companies to adopt Web3 gradually while maintaining compatibility with existing systems. This allows customers to experience the benefits of decentralisation, such as increased data ownership or blockchain-based rewards, without losing access to traditional Web2 services. By focusing on hybrid solutions, Web3 builders can ensure that customers can enjoy the advantages of both worlds, creating a seamless, user-friendly environment that fosters wider adoption of Web3 technologies.
When Web2 companies integrate Web3 technologies, users are presented with several significant benefits that enhance their digital experiences. And one of the key advantages is the greater control over personal data. In Web2, companies typically manage user data in centralised systems, often monetizing it or leaving it vulnerable to breaches. But in web3, through blockchain and decentralised networks, data ownership shifts back to the users. This gives users full control over how their data is used, shared, and monetized, ensuring better privacy and security.
Increased transparency and trust is another major benefit for the integration of web3 technology. This transparency fosters greater trust between companies and users, as it eliminates the potential for businesses to manipulate information or engage in unethical practices. For example, users can track how their funds are handled on decentralised finance (DeFi) platforms, or verify the entire supply chain of a product using web3. This level of transparency enhances user confidence in the platforms and brands that adopt Web3 technologies.
Finally, Web3 integration offers new financial opportunities and rewards for users too. Through token-based reward systems and decentralised applications (dApps), users can earn cryptocurrency or digital assets for participating in platforms, contributing content, or engaging with a brand's community. These assets can often be exchanged for real-world value or used within the growing Web3 ecosystem. This shift empowers users to monetize their participation directly, unlike the traditional Web2 model, where platforms capture most of the value.
As Web2 companies continue to adopt Web3 technologies, users too will benefit from enhanced data control, increased transparency, and access to new financial rewards, leading to more secure, empowering, and engaging digital experiences. However all of these benefits can only materialise when the web2 companies are properly onboarded and supported in their vision to integrate web3 into their processes.
Hence, web3 native builders have a great impact on web2 companies onboarding, not just driving the adoption, but also guiding the integration, and providing benefits for the end-users of the web2 companies products/services.
