The Revolution of Affiliate Marketing Within Web3
By: Jamélie Myre
Marketing as we know it consists of advertising, promoting to sell products and services. Marketing 2.0 is the usage of many advertising strategies on the web which leverages the social networking aspects of many new websites. Whilst reaching millions of people on a regular basis and an estimated market value of $455 Billion USD each year on a growing scale, this type of marketing is oftentimes seen through publicity or advertising within photos, videos, blogs and more. Some companies use the business model of affiliate marketing where consumers get to be distributors or take profit shares for referring new consumers.
Affiliates in Web3
Aiming to become the first of its kind in the Web3 space by creating a solution for advertising within the Decentraland Metaverse with its user-governed network, Web3filliates (W3f) precisely uses the power of affiliate marketing for their project to ensure that their investors and early adopters become shareholders of the project. With DAO technology, the community takes part in the decision process of the project’s direction.
- A Decentralized Autonomous Organization (DAO) is an entity with no central leadership. Decisions get made from the bottom-up, governed by a community.
- The Metaverse can be defined as a simulated digital environment that uses augmented reality (AR), virtual reality (VR), and blockchain, along with concepts from social media, to create spaces for rich user interaction mimicking the real world.
The difference between affiliate marketing in web2 vs web3 is that there is no middle man or central authority taking charge of the referral program within web3. There are no risks of fraud, lack of transparency or added fees.
What does the project consist of?
W3f is an educational company that uses the affiliate marketing system to get more consumers in a completely organic way as well as giving the consumers and community an opportunity to profit from bringing in more members into Web3ffiliates and into learning about Web3. The team practically engages with the community successfully on a daily basis within the metaverse. All community activities, mentorships, education classes, quests and games where the holders can profit from participation are held in their Web3ffiliates headquarters, their affiliate mansion in Decentraland. The founders of W3f are utilizing the need for education seen in this industry through affiliate marketing and it is truly spectacular.
The mansion’s ground floor is available for anyone and serves to showcase the concept, idea and vision of W3f. Whereas the upper floors have community access and they are precisely accessible to either NFT Airdrop referral ticket holders or early adopter ticket holders which is a collection of 1500 NFTs with tiers of 102 gold, 499 silver and 888 bronze. Each automatically transforms holders into shareholders and the difference between tiers lies in the return of revenue percentage. These NFTs are purchasable through referral links at the mint price of 0.38eth with a chance at minting either tiers as well as the first claimable shareholder returns, or also purchasable on OpenSea at floor price without the benefit of claiming the first round of shareholder return.
Whitelist users received early access to the referral-upon mint tool where they could refer their custom links, once successfully shared 50 times they would in turn receive a rainbow ticket NFT which can only be earned and not given or minted, and 1 eth directly into their wallets. The early adopter sale has organically grown to 1130 ticket NFT sales at the time of writing, through word of mouth as well as affiliate referral links. More than 81 ETH was returned to shareholders of the project! Some of their best performing affiliates received up to 8 or 10 ETH, almost $20k USD in revenue. There will be an additional 72 ETH to be claimed after the sell-out.
The goal is to connect with other projects and affiliates in a decentralized manner, as well as to incentivize members to use ‘word of mouth’ in order to bring in more possible investors and future promoters. The platform’s benefits are decentralized referrals, guaranteed commission for both projects and investors, user-governed network, transparency through blockchain technology, web3 wallet connection and traffic source audit. “Our last objective is to create an ultra engaged community around our NFT collection and project. We want each member to become a proud shareholder and part of W3f,” shared the team through their whitepaper.
- Decentraland is a 3D virtual world with plots as NFTs available for sale via their custom cryptocurrency MANA. It is a fusion of both the Metaverse and Web3.
- The app already holds around 600k users as well as its custom currency which already has a market value of $4.7billion.
- It is the perfect place to showcase their concept of affiliate marketing within web3.
W3f’s DETF token (Decentralized Exchange Traded Fund Token) is the first of its kind in the web3 space and every early adopter will have the opportunity to claim w3f tokens once it launches and a tokenomics structure will be available once the early adopter sale is successful and sold out. The token is set out to be the bridge between the investing world of web2 and the future of web3 internet. Investors of the token will automatically be investing and participating in many different projects and token holders will eventually have the possibility to exchange the w3f token for collectibles and/or rare wearables in different metaverses. The project already has wearables for their platform on Decentraland such as learn to earn t-shirts and run to earn shoes to be used within the metaverse of course.
Once first generation early adopter sale has sold out there will be a second generation collection of 4999 NFTs where in total, the early adopters will be able to generate referral commissions from the first and second drop. This means they will be able to get a combined revenue share of up to 50% between referral commissions and profit shares.
In all, Web3ffiliates and their team have been steadily successful and their community has organically grown since they launched their collection of 1500 investor ticket NFTs for early adopters back on May 30th 2022 and reached 1000 NFT mints just two months later, announcing to their patient holders through their Discord server that the first revenue share would be available to claim by all holders, own more than one ticket, gain more revenue shares. The second revenue share is set for when the total amount sold hits 1200 sales. This is just the beginning of an incredible affiliate marketing revolution within web3.