Affiliate marketing is a thriving industry in Web 2.0. But what will its future be like in Web 3.0?
Along with the increasing popularity of the metaverse are talks about Web 3.0. The internet, as we know it, has become an integral part of our lives. And now, many believe it is due for another evolution.
For the affiliate marketing industry, this signals changes in marketing strategies and processes. But how exactly will affiliate marketing benefit in Web 3.0? Does this industry need it? How will it develop further? And will the crypto gambling market—given that crypto casinos in the metaverse are expected to thrive—benefit from affiliate marketing in Web 3.0?
Before we find answers to these questions, it’s important to know first what is Web 3.0.
What is Web 3.0
The simplest way to explain Web 3.0, which is often referred to as Web3 or Web 3, is that it is the next phase in internet revolution. We’ve gone way past Web 1.0, and we’re making use of the features offered by Web 2.0.
To make it easier to understand, Web 1.0 began in the 1990s. This was during the time of the early years of the internet, where users can read information from static websites. The key word here is read, because this is the ‘read-only’ phase of the internet.
It was only in the early 2000s when we realized the shift to Web 2.0. By now, big companies like Google and MSN had found their way to organize all the information available on the net. Websites are archived and ranked according to popularity on search engines, making it easier for the users to find the info they need.
But more than this, Web 2.0 gave users the ability and platform to share what’s on their mind. Think Facebook, Twitter, and other social media platforms. Social interaction has become a thing in Web 2.0, where users no longer just ‘read’ but also ‘write’. In the case of crypto casinos, players can chat with their fellow players and play games broadcasted in real-time via livestream.
It is also during this phase when new technologies surfaced and mobile usage skyrocketed. The downside of this, however, is that users are obligated to entrust their data privacy in the hands of companies. Unfortunately, recent events have shown that there are companies like Facebook that make money by selling user information with third-party companies.
With Web 3.0, the internet is expected to provide us with information that is tailor-made for each one of us through the use of artificial intelligence. At the same time, Web 3 is seen to decentralize the internet using blockchain technology. And as a result, users get to own their information, choose how they want their details to be shared, and be a part of the decision-making body.
Future of Affiliate Marketing in Web 3.0
To adjust to the shift to Web 3, affiliate marketing industry has to look at different aspects. The first is the change in consumer behavior, second are the implications to marketing strategies, and third are the benefits affiliates get from decentralized affiliate marketing.
When it comes to consumer behavior, expect users to be more cautious in sharing their personal information. Due to the aggressive targeting marketing evident on Facebook, for example, companies are beginning to lose consumer trust. Add to this the efforts spearheaded by Apple that enable all iPhone users to be in control whether or not they will allow mobile apps to track their actions, thereby giving users the power on how they want to share their information.
As for marketing strategies, there will be adjustments that need to be made. This is in relation to the change in consumer behavior. Some even believe that less intrusive advertising will be the key to gain the trust of the consumers. At the same time, adding a touch of altruistic thinking behind the campaigns will get the job done. With social movements like taking care of the environment and pushing for social change, marketing products with altruism in mind may prove useful.
Decentralized Affiliate Marketing
But all in all, affiliate marketing will not be negatively affected by the change to Web 3. Instead, it’s expected to simply adapt just like what other industries will have to do. And in fact, this is no longer a theory because there are decentralized affiliate networks that already exist and are showcasing how this industry looks and performs with blockchain technology.
Decentralized affiliate networks like Attrace, RefToken, and Blockverse are examples of how affiliate marketing can integrate blockchain technology and function in a decentralized internet.
Main Benefits of Blockchain Affiliate Marketing
Decentralized affiliate marketing, while not widely adopted, already exists. In fact, the crypto gambling community is a perfect case study as it is where cryptocurrency, iGaming, and affiliate marketing all coexist mutually. And if blockchain casino affiliate marketing is to be analyzed, decentralized affiliate marketing in Web 3 in general can also look forward to reaping these benefits:
Receive commission payments in real-time
The online casino affiliate marketing model is structured to pay affiliates once a month. But oftentimes, there are instances of delayed payments. In a decentralized setting, affiliates can receive their commission in real-time and would no longer have to wait for payday. And since payments will be in the form of cryptocurrencies or tokens, affiliates can look forward to receiving their commissions within hours.
Guarantee zero frauds and no shaving in a trustless environment
Through the use of smart contracts, affiliates are assured of the commission they expect to receive upon entering an agreement. This set-up ensures affiliates that they will be protected from any form of fraud and stats shaving. The fact that everything will be recorded on the blockchain also promotes transparency in a trustless environment.
Affiliate marketing is an industry that is expected to thrive even in Web 3.0. Blockchain technology proves to be useful for this industry and has indeed already been used by selected decentralized affiliate networks to showcase blockchain’s prowess in affiliate marketing. But at the end of it all, whether or not Web 3.0 will materialize, what matters is blockchain is more than capable of improving the processes, strategies, and the very structure of the affiliate marketing industry we know of today.
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