Thanks to the moves from McDonald’s, Adidas, and Budweiser, advertisers left 2021 with at least a vague understanding of Web3 Alphabet Soup, rich in non-fungible tokens, cryptocurrency and, of course, metaverse.
Last year, brands created and bought NFTs, created virtual real estate, and made headlines, but not much else. While time (and wallets) will tell if these were one-off gadgets – a mass meta-crypto-fever dream – or meaningful engagement tactics, one chat room is trying to make sense of it all. that.
Called Jump, it is touted as the first “symbolic community for marketing and advertising professionals”. Hosted on the Discord messaging platform, this is where advertisers can follow the intersection of Web3 and their industry, ask questions, and join groups by interest.
Since its debut last June, Jump has over 630 members, publishes a newsletter twice a week, and has hosted (virtual) panel discussions with executives from Publicis, Playboy and slash artist-musician Young & Sick. .
Conversations on Jump range from discussions about branded NFTs to privacy in the Metaverse. There are sports, games and music channels. (An ad-tech channel was taken down due to low activity. Shocking.)
Like many other online communities, conversation is often fluid; it can be difficult to follow, even if they are only members sharing links.
“I can’t walk into a meeting and just talk to 20 other people and have a conversation about the intersection of crypto and Web3 and marketing. I don’t know if this is happening anywhere other than inside Jump, ”said founder Jeff Kauffman Jr., who was previously responsible for business and product innovation at The Richards Group, a position he has. left last year. He is now also the Founder and CEO of Parachute, a consulting firm that helps marketers navigate the web3.
Web3, the decentralized blockchain-based internet, a bit like a New the Internet–has become the catch-all term for everything cryptocurrency, metaverse, and NFTs. Those who proselytize Web3 envision an internet where communities, including members of Jump Discord, take ownership of their experiences (as opposed to big tech companies like Google).
Kauffman is in the process of structuring Jump as a Decentralized Autonomous Organization (DAO) via an incubator for tokenized communities, and Jump is currently giving tokens to its members.
Remember when crypto investors tried to buy the Constitution? It was a DAO, basically, a group of people who bought an internet community, either financially (by buying tokens with a cryptocurrency) or by earning tokens through the work done within that community, what Kauffman calls “sweat equity”. Token holders can then dictate the decisions made by the group. This is how Jump is currently organized.
Unlike many other DAOs, Jump Tokens are not tied to any monetary value. During the first few months of the community, tokens were distributed by Kauffman himself. Now the group is focusing on specific projects or “workflows” that “put tokens in the hands of riders,” Kauffman explained. These tasks range from organizing group events and roundtables to rebranding Jump and designing a website for the community.
The more tokens a user has, the more weight their votes carry, although the tokens are not yet used to vote. “The idea is that the community will be literally ruled by the people who get their hands dirty,” Kauffman said. (This reporter received 10 Jump tokens. He doesn’t know what to do with them, but for ethical reasons, he won’t use them.)
All together now
During a 47-minute interview with Kauffman, “community” was spoken almost 100 times. While Kauffman is adamant about the future of Web3, the future of Jump is unknown. Not because he is not confident, but because he is not responsible. the community is.
“I envision a future where we act as a sort of DAO marketing and advertising agency, where we work with other DAOs to help deliver their content and create their marketing strategy,” said Jeremy Olken, vice-president. president and director of digital innovation at Omnicom Health Grouper.
In the future, Jump tokens would be exchanged with tokens from another DAO, acting as a form of payment.
Why would a DAO need a marketing strategy? Well, ideally his token’s value, whether it’s monetizable or not, grows, so getting people to join in and get excited is crucial.
Olken was an early member of Jump, but has been “deep” in the Web3 and crypto space for the past several years. “I was trying to apply some of these concepts to the agency I work in,” he said. “How can we start to educate our clients, our brands, our agencies in general? Just being a part of it is incredibly precious.
Right now, the Jump community has two pretty clear use cases: as a networking platform and as a safe space to ask questions. Keith Soljacich, Head of Innovation at Publicis Media, said in mid-December that he was working with “some of the biggest brands in the world” on their Web3 strategies and was looking to expand his team. (Soljacich did not respond when Marketing Brew asked which brands he was referring to.)
Brendan Gahan, partner and social director of Mekanism, believes that Jump will “create a group of Web3 apostles who will preach the Web3 church” to the agencies. “Some are going to be successful, some are not going to land, but we’re going to be there to evangelize this stuff, and we’ll convert more people to Jump,” he told us. “I completely drink Web3 Kool-Aid. “
Since joining Jump, Gahan told Marketing Brew that he has brought up Web3 with customers, although none have yet taken a bite.
Daniel Kelly, founder and CEO of augmented reality strategy firm Avonni, joined Jump at the suggestion of his crypto-curious business partner. Although Kelly is not “thoroughly” at it, he still found it useful as an educational tool and first-hand experience that he can share with his clients.
“You can’t talk about something without at least getting your feet wet,” he said. “You have to go ahead and see what it is.”