The past two years have been significant for the development of Web3, cryptocurrency, and blockchain technology. The market has expanded significantly, with both highs and lows, and constant innovation.

Vayner3, has grown from a small group of cryptocurrency enthusiasts to a full-service Web3 consulting firm with over 25 enterprise clients in various industries, such as consumer packaged goods, retail, fashion, automotive, and technology. While recent events have highlighted some negative actors in the space, the future of Web3 looks bright.

Web3 represents the next evolution of the internet, consumer behavior, and culture, powered by blockchain technology. It encompasses not only new technologies such as cryptocurrencies, NFTs, DeFi, and the “metaverse,” but also a cultural and behavioral layer.

In the last two years, we have seen a resurgence of digital art, fashion, sports, music, and identity. As more and more consumers spend time online, especially younger generations who have a more integrated view of physical and digital realities, the fundamentals of Web3 technology and culture will grow exponentially, with significant consequences.

This report analyses the broader narrative of Web3, examines the data, and identifies key trends in a volatile market. Focus is on the most important considerations for marketers and operators at large enterprises thinking about adopting Web3 technology, in the near future.